BC-based co-op, Propolis Cooperative Housing Society purchases first property to introduce affordable and sustainable housing development in Kamloops
All residential units will operate as non-profit cooperative housing and are targeted to be priced at 80% of CMHC’s median market rents in Kamloops.
- All residential units will operate as non-profit cooperative housing and are targeted to be priced at 80% of CMHC’s median market rents in Kamloops.
- To acquire the property, Propolis secured a combination of financing from community bonds as well as impact and investment funds.
- I think that the Propolis Cooperative Housing Society provides a model for what can be done in this and other cities."
- Propolis is purchasing the parcel for $1 in exchange for an agreement to operate affordable cooperative housing on the site.