A mortgage for peace of mind

Kettle Friendship Society

About this story

For people dealing with mental illness, access to support services can be critical. Having daily help with something as simple as taking their medication can make a difference between their being part of society and their being on its outskirts.

For decades, Kettle Friendship Society has supported people with mental-health issues with a drop-in centre, outreach and advocacy services, an on-site health clinic, and recreational, life-skills, housing and employment programs.

With thousands of clients annually, Kettle Friendship Society was outgrowing its rented facilities and turned to Vancity for help. Using a creative mix of first-mortgage financing from Community Business Banking and subordinated-debt, higher-ratio financing from Community Capital, we worked with Kettle Friendship Society to purchase and renovate a 5100-square-foot property. This property now houses three of the Society's programs that were operating within nearby rented facilities.

Not only is the new property much more appropriate to the Society's services, but also by owning a building, Kettle Friendship Society is building its asset base and long-term sustainability.

We like to call it a mortgage for peace of mind.

 

Get in touch

Thinking about how to co-locate in Social Purpose Real Estate? We'd love to talk to you about your plans: