Community Investing in Heritage Redevelopment Since 1970 24% of identified heritage structures in rural communities have been lost to the wrecking ball. A major cause of this loss is the reluctance or refusal of mainstream banks to offer conventional commercial mortgages for heritage buildings. Another is the absence of public assistance for heritage retention. These factors, combined with the trend to urban sprawl and commercial development along highways, have spelled the decay and even death of the historic core in many small towns. Almonte’s Mill Street has experienced a renewal in the last 10 years. In the absence of conventional financing, over 75,000 square feet of commercial and residential space were redeveloped thanks to early-stage funding from local “angel” lenders. A further 50,000 square feet are now in the planning stages. Investment Opportunities in Historic Almonte We have cultivated an informal community fund where lenders receive 8 to 10 % annual interest. The rate depends on the type of project and its stage of completion. Our local lenders have a good return on their money a beautified downtown core improved local prosperity – the larger commercial tax base, higher property values, and greater downtown vitality reinforce their investments pride in seeing their money at work in their own community Any lender receives a good return on investment the satisfaction of helping save part of our architectural heritage and of helping drive progressive and sustainable community development For further information contact us at 613-256-9306 or info@redalmonte.ca.