
Impact United hears from speakers who share how they are managing their assets in a manner consistent with the teachings and values of their faith.
Social purpose real estate is a common component of many impact investors’ portfolios. However, within that asset class exists a specific niche which represents an urgent market gap and an untapped opportunity for investors: properties owned by religious communities and faith-based organizations.
Reverend Graham led the transformation of St. James the Apostle Anglican Church in Montreal, which closed in 2015, into the new St. Jax, a community hub home to a number of secular community organizations, including arts & culture and social service agencies, alongside an active and thriving place of worship. Since then, Trinity Centres Foundation have been working with other communities facing similar challenges, and are launching a $2.5M community bond to enable more faith properties to transform into community assets.
Chances are, where you live, there are places of worship at risk of closing and/or being sold to the highest bidder. Dwindling congregations are struggling to maintain their properties, often located in the heart of neighbourhoods. Meanwhile, community-based organizations struggle to find affordable space to carry out their mission. There is opportunity to repurpose these properties so that they remain community assets, but both sides often lack the necessary expertise, capacity, and investment to compete with private sector developers.
All interested impact investors and asset owners are invited to a discussion with Rev. Graham on innovative opportunities in this space, but it will be especially relevant to place-based investors (those who are focused on affecting change within a particular geographic community) such as community foundations, service clubs, and other investors with a local mandate.
View the Zoom recording here.