Parkwood Gardens
Purpose
Protecting 79 family homes below market.
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Catalyst Community Developments
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Parkwood Gardens
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10th and 11th Avenues, Burnaby, BC
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Sacha financed Catalyst's long-term ownership of a 79-home townhouse community, alongside the Rental Protection Fund and a conventional lender.
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Most homes have three bedrooms, 46% rent at 20 to 40% below market, and an on-site daycare supports families. As a non-profit owner, Catalyst has completed repairs, reduced rents and strengthened resident engagement.
Investment Details
Investment amount
$10 Million
Project Value
$12.3 Million
Type of Capital
We provided a First Mortgage Secured Loan
Purpose of Capital
Affordable housing refinancing
Year Funded
2022
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.
