Ottawa Community Land Trust purchases third property for affordable housing (opens original article in a new tab)

The Ottawa Community Land Trust purchased a third property to maintain affordable housing, using community bonds and financing. The organization aims to develop more affordable units and has raised significant funds through its investment model.

• OCLT acquired a low-rise apartment building at 700 Coronation Ave. with 31 households.
• The trust uses community bonds to raise capital, with $4.465 million raised since 2024.
• OCLT plans to develop more affordable units on the property's parking lot in the future.
• Ottawa is losing affordable homes faster than they are being built, with only 804 of 5,700-8,500 needed units constructed by 2026.