You are invited to consider participating in Kelowna’s first truly community-based impact investment opportunity. A holistic, multi-use development with a mixture of commercial, residential and socially impactful space; Vitae Village will be a place you can live, affordably own, and know that you are part of a community that is the first of its kind in the interior of BC.
“Developing an impactful community at the heart of the city, where people from all walks of life, can live, work play and learn.”
Property Details
The property being purchased is the New Life Church, located at 2041 Harvey Ave. Building built in 1986 on 2.79 Acres of prime highway frontage commercial property.
Finance Plan
Impact UPStream Ventures Inc. (IUVI) is seeking to raise $5m by way of loans through accredited investors, with Vitae Village Corporation acting as agents for the lenders. The initial $5m in loans will be secured as the first mortgage on property. This provides for $2.5m for the purchase down-payment and $2.5m initial working capital, taking the work of IUVI to full planning stage.
These initial loans will bear 4% interest paid quarterly, and an additional 1% bonus at term-end, if the funds are rolled into the next stage of the financing package.
IUVI can also offer a 10% discount on equity shares in the initial overall project when costs and revenues are finalised or project nears completion. Other incentives may include discounts on the purchase price of individual housing units, as appropriate.
Once the full property build out is completed, or costs for full project scope are known, then the share ownership structure in Impact UPstream Ventures Inc. will be recapitalized, to compensate the contributors such as loans turned into equity, investments at strategic stages, giving consideration for a return on the shareholders, lenders and other partners’ investments for short term or long term structures. This capital structure will provide exit opportunities (internally first and/or externally) for the shareholders as appropriate.
Long-term Ownership
The information herein has been prepared on a confidential basis and is being furnished to a limited number of accredited investors solely for discussion purposes only. It is not an offer to buy or sell or a solicitation of an offer to buy or sell any securities. Not intended for distribution or dissemination other than to the original recipients.
This is not an offering for sale. Such offering may only be made upon receipt of a disclosure statement. For a copy of the disclosure statement when available, please contact 250 681 3710 . Renderings are an artist’s conception and are intended as a general reference only.