Hamiltonians Invest in Affordable Housing with New Community Bond Initiative

HAMILTON, ON – November 18, 2025

Filling a Critical Housing Gap

A new initiative is empowering Hamilton residents to directly address the city’s affordable housing crisis. Gather Housing Communities, a non-profit spun out of Indwell, has launched a $15 million Community Bond campaign to finance the construction of 164 affordable rental units. The campaign offers individuals and institutions the opportunity to invest in the project, earning up to 4.85% interest while contributing to a solution for Hamilton’s “missing middle” – working households earning between $30,000 and $90,000 annually who struggle to find suitable and affordable housing.

The initiative comes at a crucial time for Hamilton, where the demand for affordable housing far outweighs the supply. Recent data reveals a significant shortage of rental units accessible to moderate-income earners, forcing many to spend a disproportionate amount of their income on rent or to compromise on living conditions. “The current market leaves a lot of working families behind,” says one local housing advocate. “They earn too much to qualify for traditional affordable housing programs, but not enough to comfortably afford market rates.”

A Novel Financing Model Gains Traction

The Community Bond model, pioneered by Indwell and now being expanded by Gather Housing Communities, represents a growing trend in social impact investing. Unlike traditional financing methods that rely on government funding or bank loans, community bonds allow individuals and organizations to directly invest in projects that align with their values. The funds raised through the bond campaign will be used to cover pre-construction costs, enabling the project to move forward quickly.

“This model is about more than just raising capital,” explains a representative from Tapestry Community Capital, the organization administering the bond offering. “It’s about building community ownership and empowering residents to become active participants in solving the housing crisis.” The previous $6 million bond campaign launched by Indwell in 2024 proved successful, exceeding its initial target and demonstrating strong community support for the innovative financing model.

Beyond Bricks and Mortar: Addressing the 'Missing Middle'

The focus on the “missing middle” income bracket sets this project apart from many other affordable housing initiatives. While a significant portion of affordable housing development targets low-income households, the needs of moderate-income earners often go unmet. This can have a detrimental impact on the local economy, as essential workers struggle to afford to live in the communities they serve.

“We’re seeing a growing number of teachers, nurses, and other essential workers being priced out of Hamilton,” says a City of Hamilton official. “Addressing the needs of this demographic is crucial to ensuring the long-term health and vitality of our community.” By focusing on this segment, Gather Housing Communities hopes to provide stable, affordable housing options that allow working families to thrive.

The project aims to ensure that households spend no more than 30% of their income on rent, a benchmark that is widely considered to be a key indicator of housing affordability. This will free up disposable income for other essential expenses, such as food, transportation, and childcare.

A Collaborative Approach to Community Development

The Gather Housing Communities initiative is not being undertaken in isolation. The project is the result of a collaborative effort between several key stakeholders, including Indwell, Tapestry Community Capital, the City of Hamilton, and local community organizations. The City of Hamilton has provided significant support for the project, including funding and fee waivers.

“We’re committed to working with our partners to create a more inclusive and affordable city for all,” says a spokesperson for the City. “This project is a shining example of what can be achieved when we work together.”

The initiative also benefits from Indwell’s extensive experience in developing and managing affordable housing. With over 50 years of experience, Indwell has a proven track record of creating high-quality, supportive housing communities. “We’re excited to be part of this initiative and to continue our commitment to providing hope and homes for all,” says a representative from Indwell.

Furthermore, the City of Hamilton has been exploring the creation of its own municipal bond program to further expand affordable housing options, highlighting a growing commitment to innovative financing models. The combination of this local initiative and potential future municipal bonds could significantly increase the supply of affordable housing in the city.