As the Chair of Ottawa Community Housing (OCH), I am proud to share that OCH has entered into a binding agreement to acquire two Minto Apartment REIT (Minto) established communities. The transfer of ownership will close on February 15, 2024. Recognized for its commitment to community-centric development strategies, OCH continues to blend new constructions and acquisitions to increase affordable housing options for Ottawa’s low- and moderate-income households.
Under OCH’s ownership, all current tenants will remain housed. By limiting rent increases to cover cost recovery only, OCH achieves its long-term goal of maintaining affordable rents. The rents are in line with the guidelines set by the Canada Mortgage and Housing Corporation (CMHC) for affordable market rents. ARRIV Properties, the new banner for OCH’s affordable housing rentals, will manage both properties and ensure a smooth transition with minimal disruptions for current tenants.
OCH’s acquisition of 311 homes is a testament to our unwavering dedication to expanding affordable and sustainable housing in Ottawa. We believe that everyone deserves a safe and affordable place to call home. Under OCH/ARRIV Properties’ ownership, current tenants can rest assured that affordability will be preserved, ensuring they can continue to reside securely without fear of displacement. Our proactive approach highlights the pivotal role of collaboration in fortifying the city’s affordable housing landscape and preserving both land and affordable housing for the betterment of our community.