What if investing in Ottawa’s future meant creating permanently affordable homes for the people in your community?
That’s the thinking behind Housing Forever Bonds, a joint initiative from Centretown Citizens Ottawa Corporation (CCOC) and the Ottawa Community Land Trust (OCLT), two non-profit organizations dedicated to creating and preserving affordable housing in the city.
The Housing Forever Bond campaign offers an innovative funding solution that allows individuals, businesses, institutions, and organizations to invest directly in affordable housing while also earning a financial return.
An innovative funding solution delivered by established organizations
Unlike a donation, investors purchase bonds for a fixed term, receive annual interest payments, and have their principal repaid at maturity. Funds invested through the campaign support strategic property acquisitions, preserve existing affordable homes, and cover pre-development costs for new affordable housing in Ottawa.
Investors can choose to invest in one or both organizations.
Founded in 1974, CCOC is Ottawa’s largest private non-profit housing organization. It has created, maintained, and promoted housing for people with low- and moderate- incomes for more than 50 years, and has a portfolio that has grown to more than 50 properties and nearly 1,700 affordable homes across Ottawa. CCOC’s goal is to build more homes while ensuring they remain affordable over the long term.
The OCLT was founded in 2021 to address a lesser-known dynamic in Ottawa’s housing challenge: the loss of thousands of affordable homes every year in Ottawa to rent increases, redevelopment, renovictions, conversion, and turnovers. Citing data from Statistics Canada, the organization notes that more than 30,000 affordable private rental units were lost between 2011 and 2021.
The OCLT has already acquired four multi-unit apartment buildings since 2023 by drawing on earlier sales of Housing Forever Bonds and the capitalization of a revolving acquisition fund, allowing tenants to remain and ensuring affordable rents in perpetuity.
Capitalizing on opportunities throughout the city
For CCOC, one opportunity is already in sight: At the corner of Bank and Chamberlain, CCOC has proposed approximately 100 mixed-income affordable rental homes on what is currently a municipal parking lot.
To move forward, CCOC still needs to raise $1.5 million through Housing Forever Bonds to support the pre-development work needed to move to the construction phase. This step is critical, as it unlocks access to federal funding through Build Canada Homes once the development is shovel ready.
OCLT, too, is raising capital to advance a pipeline of short-term acquisition opportunities. Its offer on a rental building with more than 25 units was recently accepted, so OCLT will need to raise approximately $1.5 million in bond sales.
Beyond that, property owners regularly reach out to OCLT with information on affordable rental buildings that could be available. Investments in Housing Forever Bonds will help OCLT to grow its portfolio, fostering housing security for tenants in at-risk buildings and enabling permanent affordability for future tenants.
Affordable housing: essential infrastructure for a strong city
Affordable housing is essential infrastructure for a strong, resilient city, and Housing Forever Bonds offer Ottawa’s business community a unique opportunity to invest in both financial returns and lasting impact, leveraging Ottawa’s wealth for the well-being of Ottawa residents.
Together, CCOC and OCLT invite you to be part of a future where affordable housing becomes the foundation of a thriving city. For more information, please visit www.housingforeverbonds.ca
