Ottawa Community Land Trust acquires third property, keeping rents below market average
The Ottawa Community Land Trust (OCLT) has announced that it will soon be acquiring its third property in the nation’s capital.
The building has more than 30 affordable housing units “that would be at high risk of rent increases or tenant displacement if sold on the private market,” OCLT wrote in a press release.
The purchase has been made possible by a community bond campaign from OCLT and the Centretown Citizens Ottawa Corporation. The Housing Forever bonds allow OCLT “to act quickly when market rental housing becomes available or is at risk,” the organization said.
OCLT’s first acquisition happened at the end of 2023, and was a six-unit building of one- and two-bedroom apartments. In 2024, the OCLT bought a second property of ten one-bedroom units.
The Canadian Network of Community Land Trusts described 2025 as a “turning point for Community Land Trusts”.
In its end-of-year round-up, the Network highlighted several achievements across the country, including Canada’s largest new co-op housing development in more than 30 years.
Your job. Your mission. Your news.
With your support, the sector you're building gets the journalism it deserves, and you get a tax receipt.
Author
