Ottawa Community Housing (OCH) has closed on 503 rental homes from Minto, in what the organization is calling the largest transaction in its history. The portfolio, located in the South Centrepointe community of Nepean, is also among the largest non-profit affordable housing acquisitions ever completed in Canada.
What's in the deal
The acquisition covers 73 townhouse blocks totaling 369 townhomes, plus two apartment buildings with 134 units, for a combined 503 homes. The buildings were constructed between the early 1970s and mid-1980s.
Most of the homes are suited to families. Of the 503 units, 491 have two or more bedrooms: 12 are one-bedroom, 122 are two-bedroom, 329 are three-bedroom and 40 are four-bedroom homes.
Why Ottawa should care
This deal moves in the opposite direction: 503 existing homes are shifting from a private landlord to a non-profit provider whose mandate is long-term affordability, not maximizing rent on turnover. For the families already living in these units, the immediate effect is stability, a new landlord focused on keeping them housed rather than repositioning the buildings.
What OCH says
OCH CEO Stéphane Giguère said the acquisition shows what the organization can do at scale. "This landmark acquisition shows what is possible when Ottawa Community Housing, a non-profit housing provider, puts tenants first and acts at scale," Giguère said, adding that the deal demonstrates OCH's ability to be a critical partner in strengthening Canada's housing infrastructure while providing stability for tenant families.
The bigger picture
For Nepean and South Centrepointe specifically, the change in ownership means hundreds of townhomes and apartment units built in the 1970s and 80s now sit inside a non-profit portfolio built to hold onto affordable housing rather than cycle it through the market.
Sources: Ottawa Business Journal, Ottawa Community Housing (press release via GlobeNewswire)
