A three-way collaboration keeps a Centretown property under community ownership — and lets each organization focus on what it does best
August 6, 2026 — Just 3.5% of Canada’s housing stock is community-owned and permanently affordable — half the proportion of our peer nations. At a moment when Canada is beginning to take that gap seriously, the Ottawa Community Land Trust isn’t waiting for the system to change. It’s building a different one.
OCLT has acquired a seven-bedroom home on Cooper Street in Ottawa’s Centretown neighbourhood, its fourth building and fifth property overall (it owns a lot it will build on). OCLT is building a growing community-owned portfolio of rental housing that serve a variety of community needs — all kept permanently affordable. OCLT is leasing the home to Matthew House Ottawa, a nonprofit that operates reception and transition homes for refugee claimants. OCLT owns and maintains the property; Matthew House operates it and provides the wrap-around support that helps newcomers rebuild their lives in Canada.
The property was purchased from Salus Ottawa, a supportive housing provider selling smaller properties to generate equity for new, larger development. The sale keeps the home under nonprofit, community ownership — a priority for all three organizations involved.
“This transition helps three organizations that are all committed to seeing affordable housing grow,” said Mike Bulthuis, executive director of the Ottawa Community Land Trust. “It’s a win-win-win.”
A new model — and a more stable foundation for Matthew House
This acquisition introduces something new to OCLT’s approach: owning a property and leasing it to a service-delivery partner, allowing each organization to focus on what it does best.
For refugee claimants, stable housing is the foundation for everything that follows — accessing legal support, enrolling children in school, navigating unfamiliar systems, and beginning to feel secure enough to plan for the future. Without it, everything else is harder.
Matthew House Ottawa provides that foundation through reception homes designed to feel like family environments, where residents share meals, responsibilities, and daily life. Until now, the organization has relied on private landlords — an arrangement that often works very well, but can also bring uncertainty about lease renewals and rent increases. The Cooper Street partnership replaces that uncertainty with a mission-aligned owner invested in Matthew House’s long-term success.
“This model gives us a partner who is invested in our success and allows us to keep focusing on supporting refugees as they rebuild their lives,” said Kailee Brennan, executive director of Matthew House Ottawa.
Community investment at the centre
The acquisition was financed through mortgage financing from Vancity Community Investment Bank, philanthropic capital, and Housing Forever Bonds — the community investment vehicle at the core of OCLT’s acquisition model. Investments start at $1,000, making it possible for almost anyone to contribute to affordable housing in their city, with terms of three to seven years and returns of up to 3.5% interest.
In a notable expression of alignment, Matthew House Ottawa invested $200,000 of its own reserves into Housing Forever Bonds — directly contributing to the acquisition of the home it will lease.
“It’s a very aligned approach,” said Brennan. “Our investment helps make the project possible, and in turn, the project supports our ability to deliver housing and services. It all feeds back into the same goal.”
“These kinds of acquisitions don’t happen through a single source of capital,” adds Jennifer Hutcheon, Head of Vancity Community Investment Bank. “We’ve been proud to partner with Ottawa Community Land Trust as it has grown, helping bring together the right mix of financing and investment to secure properties and keep them affordable for years to come.”
“I am thrilled to hear that the OCLT has acquired a property in Centretown and it’s even better that it will be managed by Matthew House,” said Councillor Ariel Troster. “I am passionate about supporting newcomers and this home will help refugees and asylum seekers have a safe place to land and get established in our city. Preserving affordable housing while supporting newcomers at the same time is a win-win.”
“For Salus, this is about making sure our housing is working as effectively as possible for the people we support,” said Mark McAulay, CEO of Ottawa Salus. “Creating more movement through our housing means that when someone is ready for their next step, there are options for them — and that opens up space for someone else who needs it. By reinvesting the equity from properties like Cooper Street into new housing, we can create that movement and ultimately serve more people.”
Since launching its bond campaigns in 2024, OCLT has attracted individual investments from over 200 investors, raising more than $5.1 million. With four buildings and five properties now secured, OCLT is building a portfolio of permanently affordable housing — homes that will serve Ottawa residents for generations to come. This summer, OCLT’s offer on another multi-unit apartment building, with more than 25 units, was accepted. Another $1m in Housing Forever Bond investments will enable the OCLT to secure this, alongside its other properties, as affordable forever.
Housing Forever Bonds remain open to new investors, starting at $1,000. Learn more at housingforeverbonds.ca.