Heritage stewardship
Preserve and restore the Beth-Emmanuel B.M.E. Church (built c. 1868–1871), a landmark tied to Underground Railroad history, as a permanent public museum of Black heritage in Canada.
Community Investment
Invest in a community landmark
Explore the board-approved 430 Grey Street Community Bond — Series A, B and C — issued to preserve the historic Beth-Emmanuel B.M.E. Church and build 40 affordable homes in London's SoHo neighbourhood.
430-432 Grey Street, London, Ontario
A values-aligned opportunity for prospective investors
Spiritual Blessing Lighthouse Ministries — the registered Ontario charity that is the parent organization of WEAN Community Centre — is sharing public information for prospective investors in the board-approved 430 Grey Street Community Bond, connected to 430 Grey Street and the adjacent 432 Grey Street site in London's SoHo neighbourhood. The Offering Statement is dated July 30, 2026.
The project vision is to preserve and renew the historic Beth-Emmanuel British Methodist Episcopal Church — built circa 1868–1871 and tied to Underground Railroad history — as a public Black-heritage museum, and to add 40 affordable homes alongside a restaurant/café and a gym, library and community space on the ground floor.
The next step is to download the investor overview, read the signed Offering Statement and Business Case in full, contact WEAN with questions, and obtain independent financial, legal, and tax advice before making any investment decision.
Up to $5.0M
community bond raise, in 3 tranches
~40
affordable homes in the plan
$19.8M
total project cost, all-in
4.4%
blended cost of capital
About the issuer
Issuer
Spiritual Blessing Lighthouse Ministries — a registered Ontario charity that is the parent organization of WEAN Community Centre
Charity registration
737040733RR0001
Offering dated
July 30, 2026 · closing July 29, 2028
Head office
1795 Ernest Avenue, London, Ontario N6E 2V5
Why it matters
Community impact priorities
The project combines heritage preservation, affordable housing, and public-facing community programming in one community campus concept.
Affordable homes
Deliver 40 homes — from student studios to family three-bedrooms — around a shared courtyard, totalling roughly 23,300 sq. ft. of net residential space.
Community campus
Activate the ground floor with a restaurant/café and a gym, library and community space beside a ~3,180 sq. ft. museum that serves residents, the congregation, and the wider SoHo neighbourhood.
The project
What's being built
A program of 40 residential units and public-facing ground-floor uses, on two adjacent parcels totalling roughly 19,800 sq. ft.
Studio (student-focused)
15 · 340 sq. ft. net
One-bedroom
10 · 540 sq. ft. net
Two-bedroom (shared/family)
10 · 780 sq. ft. net
Three-bedroom (family)
5 · 1,000 sq. ft. net
40 homes · 23,300 sq. ft. net residential
Ground-floor & community uses
- Museum of Black Heritage≈3,180 sq. ft.
- Restaurant / café≈1,500 sq. ft.
- Gym / library / community space≈1,800 sq. ft.
Development budget
Hard construction$13.2M
Soft costs$1.98M
Contingency (12%)$1.96M
Development charges & permits$0.85M
Financing costs during development$0.93M
Land (both parcels)$0.90M
$18.9M total development cost · $19.8M all-in including land (~$495K per home)
Use of proceeds
How the $5.0M raise is released
The raise is structured in three tranches, each tied to a stage of the project — capital is only drawn as each stage's purpose comes due.
1
Tranche 1
$300,000 ≈4 monthsFunds the $250,000 cash portion of the land closing, targeted for October 2026, plus early predevelopment costs.
2
Tranche 2
$1,200,000 ≈12 monthsRepays the vendor-take-back mortgage (≈$644,000 including interest) and funds development working capital through design and approvals.
3
Tranche 3
$3,500,000 ≈18 monthsProvides predevelopment and construction-stage capital as the balance of the capital stack is confirmed.
The $5.0M bond raise is the catalytic layer of the Project's ~$19.8M all-in budget. The remaining ~$14.8M is expected from government grants (~$6.4M), construction financing (~$6.0M), and philanthropy (~$2.4M) — none of which is yet secured.
Timeline
Implementation plan
The Project proceeds in disciplined phases, each with defined gates before further capital is committed. Timing is indicative and sequential — approvals govern everything downstream.
1
Site control
SecuredBoth parcels are under agreement, with closing expected in Q3 2026; the vendor-take-back mortgage is put in place at closing.
2
Tranche 1 raise
Months 1–4Fund the land-closing cash portion and launch community engagement.
3
Design & approvals
Months 4–18Schematic design, heritage consultation, and planning applications, including a likely zoning amendment; Tranche 2 retires the VTB and funds soft costs.
4
Capitalization
Months 12–24Grant applications and commitments, construction-financing term sheets, and the Tranche 3 raise.
5
Construction
Months 24–42Tender and build, roughly 18–24 months, gated on the full capital stack being confirmed.
6
Lease-up & museum opening
Months 40–48Residential lease-up, museum fit-out and opening, and stabilizing operations.
Important risks
Risks prospective investors should understand
An investment in the bonds is speculative and involves a high degree of risk, including possible loss of the entire investment. This is a non-exhaustive summary — read Section 8 of the Offering Statement in full.
- Development and completion risk: the Project is subject to design, municipal approvals (including a likely zoning amendment), heritage constraints, and construction risk that could delay or impair repayment.
- Financing / capital-stack risk: the bonds fund $5.0M of the ~$19.8M all-in cost; roughly $14.8M in grants, philanthropy, and construction financing has not yet been secured.
- Repayment risk: repayment depends on Project progress, operations, refinancing, grants, and philanthropy, none of which is assured. Annual interest at full draw is estimated at ~$220,000.
- Unsecured / subordination risk: the bonds are proposed to be unsecured and to rank behind the vendor-take-back mortgage and any future construction financing.
- Liquidity risk: the bonds are expected to be non-transferable with no resale market. Investors must be prepared to hold to maturity.
- Heritage and regulatory risk: heritage designation status and municipal approvals are not yet confirmed and may constrain or add cost to the Project.
- Reliance on grants and government funding: a material share of the capital stack depends on discretionary, competitive grant programs that may be reduced, delayed, or not obtained.
- Interest-rate, tax, and charity-status risk: fixed bond rates cannot adjust if market rates rise, and changes to the Issuer's charitable status could affect its finances and any donation tax treatment.
Investor FAQ
Common questions
Can I buy bonds directly on this website?
No. There is no online purchase or checkout on this page. Download the investor overview, Offering Statement, and official forms below; completed forms and any required identification are submitted directly to Spiritual Blessing Lighthouse Ministries as described in the Offering Statement.
Who is the issuer of the bonds?
Spiritual Blessing Lighthouse Ministries, a registered Ontario charity (registration #737040733RR0001) and the parent organization of WEAN Community Centre. Its Executive Director, Sandie Thomas, also serves as Co-Chair and Secretary of the Issuer.
Have the terms been finalized?
Yes. The bond terms on this page have been approved by the board and are set out in the signed Offering Statement dated July 30, 2026. Availability, ranking, and eligibility details are confirmed in that document.
What would investors receive?
A bond certificate, quarterly interest payments, annual T5 tax slips for interest income, and regular project and impact updates, subject to final documentation. Investors may also elect to donate some or all of their interest back to the charity.
Are the bonds RRSP/TFSA eligible, or can I resell them?
No. Registered-plan eligibility is not part of this offering as currently structured, and the bonds are expected to be non-transferable with no resale market. Investors should be prepared to hold to maturity.
Who should I contact?
Contact WEAN Community Centre at info@weancommunitycentre.com or (519) 707-1447 to ask questions or request the latest offering materials.
Interested in learning more?
Download the investor overview, read the risks in full, and contact WEAN before taking any further step.