INVESTING LOCALLY

MARCH 19, 2025

Kaleidoscope Social Impact is a 25-year veteran of innovative financing in New Brunswick. In response to the growing housing crisis, Kaleidoscope re-focused its fund to support the development of affordable housing. It established the BUILD NB portfolio, and in the last four years, has financed 15 projects in six communities across the province, helping to maintain, renovate, or build 278 housing units. This work underscores the tangible impact of local investments in addressing New Brunswick’s affordable housing needs.

Kaleidoscope offers non-profit housing organizations a unique opportunity to redirect a portion of their reserves into a fund that finances local housing projects while providing the non-profit investor a competitive bond level financial return. Rather than investing in GICs or bonds with financial institutions—where the money will not directly benefit their community or province — organizations can invest in projects that make a real difference in the housing sector.

Two NBNPHA members, the Unified Saint John Housing Co-operative (USJHC) and Housing Alternatives, have already taken this step, committing a combined total of $300,000 to Kaleidoscope’s fund. This represents an average loan amount that Kaleidoscope uses to bridge financing gaps for affordable housing projects. These short-term loans are crucial in the early stages of development, ensuring projects have the cash flow they need to move forward.

This $300,000 investment has the potential to be revolved through up to seven different projects over a seven-year term, increasing the impact of each dollar invested. As more projects are financed, more affordable housing is developed, further addressing the pressing need in communities across the province.

As Emmanuelle Pound-Thomson, President of the Unified Saint John Housing Co-operative, stated: “Investing in Kaleidoscope's homegrown housing fund that is financing projects across New Brunswick just makes so much sense for us at USJHC.”

With a significant investment from a major investor, Kaleidoscope Social Impact is currently at $4.5 million in committed capital. Kaleidoscope's goal is to double its current capital and reach $10 million through additional community-based investments.

By following the lead of USJHC and Housing Alternatives, other non-profit housing organizations can play a pivotal role in solving the affordable housing crisis in New Brunswick, while achieving bond equivalent returns on their investments. Together, local non-profit organizations can make a lasting impact on housing development and community revitalization across the province.