Kingston explores community bonds as new funding option for affordable housing

By Christena Lawrie, CFRC's Broadcast Journalist and Local Journalism Initiative Reporter.

With the growing need for affordable and supportive housing in Kingston, the City is taking steps toward a new and innovative way to help fund future projects.

Back in April 2025, Council directed staff to explore the feasibility of using community bonds as a funding tool for municipal initiatives. At their meeting on Dec. 2, staff returned to Council with a report and recommendations on how Kingston could begin moving in that direction.

Community bonds are typically issued by non-profits or charities, allowing residents and organizations to invest directly in local projects while earning a modest financial return and keeping investment dollars working within the community. Staff noted that this model has already been used successfully in several Ontario communities, including Toronto, Haliburton, Hamilton, and Ottawa.

With unanimous support from Council, the City will now work with Tapestry Community Capital, a non-profit consultancy, to assess whether this model could work for affordable housing in Kingston. That process will include consultations with potential investors and community organizations, as well as a community readiness assessment.

Listen to the full story here.