Madrona
Purpose
Keeping 49 homes affordable in perpetuity
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Catalyst Community Developments
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Madrona, Tranches A & B
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384 Harbour Road, Victoria, BC
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Sacha provided $10 million in first-mortgage refinancing for Catalyst's 49-home Madrona community in Dockside Green.
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Every home serves households earning roughly $30,000 to $70,000 a year. Non-profit ownership protects long-term affordability in a walkable neighbourhood close to downtown Victoria.
Investment Details
Investment amount
$10 Million
Project Value
$12.3 Million
Type of Capital
We provided a First Mortgage Loan
Purpose of Capital
Affordable Housing Refinancing
Year Funded
2022
Fund
Sacha High Impact Loan Fund LP
Investment Outcomes
Social
Protects 49 below-market homes through non-profit ownership in perpetuity.
Environmental
Supports housing within the LEED Platinum Dockside Green neighbourhood.
Financial
Blended financing combined term and interest-only tranches.
