In October 2013 we contacted Four Feathers President Lloyd Stevenson to get an update on what the cooperative had been up to since receiving CFF’s loan.
As you may have read in our loan case study, London, Ontario’s Four Feathers Housing Cooperative is one of Canada’s oldest Aboriginal housing organizations, having incorporated in 1983. They’ve enjoyed considerable success over the years increasing the number and quality of subsidized housing units available to local Aboriginal families. They’ve noted recently that many of their aging tenants had become empty-nesters who no longer needed as much space; however, there was no designated affordable housing for these older tenants to move into. In 2012, Four Feathers turned to the Community Forward Fund Assistance Corporation for a loan to help finance a new 33 unit building which could house these tenants and free up their previous homes for younger families to grow into.
The update is excellent. The new units are complete and residents began moving in as of August. Stevenson expects all 33 units to be occupied by November 1st, meaning that number of units in subsidized townhouses have been opened up for new Aboriginal families. Access to stable, affordable housing has a proven impact on the health and prosperity of adults, children and their communities. Four Feathers is already considering an RFP for future construction projects, and Stevenson sees CFF as a key support to the organization’s longer term goals.
“I would have no hesitation recommending the Community Forward Fund to other non-profits,” says Stevenson. “They were very open and very helpful, and were flexible to our short term financing and long term mortgage support needs. There were no hoops to jump through. It’s just been a pleasure working with them.”
We are always on the lookout for organizations that are making a direct social impact on their communities, and it was clear that Four Feathers had a vision and the personnel to carry it out. We were pleased to help provide the means to make that happen, and look forward to continuing to work with Four Feathers in the future.