The gifts that Indwell receives from individuals, businesses, churches, service clubs and foundations provide the initial funding needed for construction of new affordable housing projects. These gifts generally make up about 10–15% of the total project costs, but are crucial to the success of each project. These gifts demonstrate community buy-in and provide the base of funding that Indwell can then leverage to request government funding. Broad community support is a catalyst for other funding, multiplying about seven times in creating new affordable housing.
The largest contributor to Indwell’s new housing projects is the Canadian Mortgage and Housing Corporation (CMHC), providing about 55% of the funds required through grants and financing. We also apply for municipal and provincial funding, which on average contribute about 30% of development costs.