Housing Forever Bonds 2025
Housing Forever Bonds offer a powerful way for people to be part of the solution to the affordable housing crisis. They allow individuals, organizations, institutions and local businesses to invest directly in the future of their city, in this case, Ottawa, earning a financial return while making a meaningful impact.
With market pressures accelerating the loss of low-cost homes and public funding falling short, this joint initiative offers an additional means to confront the housing crisis. Through community investment, we aim to secure and develop permanently affordable, mixed-income housing – ensuring that more residents can live with stability and dignity in the city they call home. Together, Centretown Citizens Ottawa Corporation (CCOC) and Ottawa Community Land Trust (OCLT) are building a future where affordability is not the exception, but the norm.
Our Project Details
Our Solution
Acquiring existing properties and maintaining affordable rents
200 Affordable Units under construction by 2027
Ensuring, as local non-profits, that every home we create stays affordable forever.
About Us
Ottawa Community Land Trust
Founded in 2021, OCLT uses social finance and grants to acquire existing rental properties and move them into non-profit status. We secure vacant land for future affordable housing development. We lease land at lower rates to non-profit and co-operative community housing organizations.
100 affordable units protected by 2027
Your investment multiplies: 3.4x community benefit.
Centretown Citizens Ottawa Corporation
Founded in 1975, CCOC is a community-owned, tenant and member-directed, non-profit housing organization. Our mission is to maintain and promote housing for low-and moderate-income people. We own and manage more than 50 properties.
1687 Affordable Apartment Units
54 Properties
The Investments
Goal: $25,000,000
Raised: $0
What are Housing Forever Bonds?
Housing Forever Bonds are CCOC and OCLT’s community bond offering. A community bond functions like a traditional bond, with a fixed term and competitive interest rate, but it offers something more: the opportunity to create lasting social value right here in our community. Community bonds are asset-backed, legally compliant, securely held investments, and inclusive of individual investors and organizations. Investors in this case are members of the community investing in their community.
Investments with both organizations serve the express purpose of preserving and creating affordable housing in the Ottawa region forever.
We have teamed up with Tapestry Community Capital, a firm that supports non-profits, co-ops and charities in raising and managing community bonds. Since 1998, the Tapestry team has supported projects from renewable energy to co-working to housing, in successful community financing campaigns, helping raise and manage $130 million from over 4,000 investors.
How will interest be paid?
Interest on Series A, B, C and D Housing Forever Bonds will be paid via electronic fund transfer either annually or at maturity, depending on which bonds you purchase.
Is there a deadline to invest?
Housing Forever Bonds will go on sale in mid-September 2025. Across both organizations, we have defined a collective campaign goal of $25 million and will continue to actively promote the Housing Forever Bonds until that goal has been met.
Who is issuing the bonds?
CCOC and OCLT are each issuing bonds.
They work with Tapestry Community Capital, an organization which guides non-profits through the due diligence process related to issuing community bonds.
Investment Options
Bond Series A
3 years
2.75%
Interest paid at maturity
Minimum investment:
$1,000
Bond Series B
5 years
3.0%
Interest paid annually
Minimum investment:
$5,000
Bond Series C
7 years
3.5%
Interest paid annually
Minimum investment:
$50,000
Bond Series D
5 years
3.0%
Interest paid annually
Minimum investment:
$10,000
RRSP/TFSA eligible*
*Both organizations are offering the same bond options, except Bond series D is offered exclusively by CCOC.
Each organization has its own investor package and will issue bonds separately.
Guaranteed returns. Guaranteed affordable housing—forever.
Housing Forever Project Team
To learn more about our other incredible team members, check out the full CCOC team and OCLT team.
Mike Bulthuis
Executive Director, OCLT
Full Bio
Mike Bulthuis (he/him) has worked at the intersections of policy, research and community mobilization for over 20 years, joining the Ottawa Community Land Trust in late 2022. He has worked in policy development with the federal public service on issues including homelessness, social finance, social innovation and infrastructure. Mike has also held leadership positions in the non-profit environment, including at Ottawa’s Alliance to End Homelessness, and with the Canadian Observatory on Homelessness. He sits on the Board of the provincial Alliance for Healthier Communities, having earlier served with local and national Boards furthering social enterprises, social planning and public justice.
Sarah Button
Executive Director, CCOC
Full Bio
Sarah’s 15-year career in affordable housing development, delivery, planning, and policy spans the public, private, and non-profit sectors in Canada and the UK. She holds degrees in communications, architecture, and urban planning, and is a Member of the Canadian Institute of Planners and the Chartered Institute of Housing. She is a passionate advocate for non-profit rental housing, and thinks complex problems are best solved by folks with different perspectives working together to change the system. Sarah believes that affordable housing should be the easiest thing to build, everywhere and always.
Glenn Grignon
Operations Manager, OCLT
Full Bio
Glenn Grignon has over 36 years of co-operative housing experience as a member of the Sandy Hill Housing Co-operative. An IT professional, he has leveraged his IT skills and interest in housing as the original programmer and architect for the Ottawa-Carleton Social Housing Register along with Durham, Hamilton and Nippissing regional registries. Glenn is a local community volunteer and long-time advocate for the Canadian and International co-operative housing sectors. A firm believer in Harambee.
Maryse Martin
Director, Finance, CCOC
Full Bio
Maryse is the Finance Director at CCOC, where she oversees financial planning, risk management, and strategic investments. She has over 15 years of in-depth experience in the private and international NGO sectors. She is a CFA Charter holder and a Chartered Professional Accountant (Ontario). In her free time, she enjoys good food and spending time with family.
Patrick Mason
Finance Manager, OCLT
Full Bio
Patrick has been working in social finance and impact investing for over 17 years. He has managed microfinance institutions in developing countries around the world and oversaw the Government of Canada’s blended and climate finance programs for international development. He is now bringing his experience in financial analysis and social enterprise management to the important local issue of housing affordability through his work with the Ottawa Community Land Trust. Patrick is also the founder of international development non-profit Xseed Impact.
Laura Penney
Director, Tenant and Community Engagement, CCOC
Full Bio
Laura is the Director of Tenant and Community Engagement, with ten years of experience in community development. Her background includes roles in non-profit sectors focused on environmental education, young engagement, and community gardening. Laura holds a BA in International Development and is passionate about building inclusive, sustainable communities through collaborative engagement.
Hilary McVey
Chair, OCLT
Full Bio
Hilary McVey is a Partner with Deloitte. She is an active community volunteer and has previously held Board roles at Parkdale Food Centre and Fisher Park Recreation Council. She has her Masters in Philanthropy and Non-Profit Leadership from Carleton University. She helps run Parkdale United Church’s In From the Cold Program. Outside of volunteering in her community, her passions include her love of travel and her pets. She believes affordable housing is critical to Ottawa’s success going forward.
Liz Allan
President, Board of Directors, CCOC
Full Bio
Liz is retired after over 35 years in the military and public service. During this period, Liz gained experience in a variety of management areas including strategic planning, business planning, risk management and project management. Through her work with refugee sponsorship and resettlement Liz gained a deeper understanding of the difficulties people have in securing affordable housing in Ottawa. It was while working to secure affordable housing for a refugee family that Liz learned about CCOC. Liz had been a member of the Development committee since late 2023. Working with CCOC and the development committee has sparked an interest in the complex issue of affordable housing. Liz has a desire to pursue ways to ensure people have access to affordable housing across Ottawa.
Frequently Asked Questions
Who is CCOC?
Centretown Citizens Ottawa Corporation (CCOC) is a non-profit housing organization whose mission is to create, maintain, and promote housing for low and moderate-income people. With over 50 years as a private non-profit housing provider in Ottawa, our non-profit, mixed-income housing model is one of the proven solutions to Canada’s housing crisis.
Who is OCLT?
The Ottawa Community Land Trust (OCLT) is a non-profit corporation, operating as a social enterprise, pursuing innovative ways of preserving housing affordability in the National Capital region. We envision our city as a place where adequate, affordable housing is available to anyone who needs it, and community-based housing providers are leading solutions to make that happen.
We go about this in two key ways. The first is acquiring existing rental properties to preserve affordability, and the second is securing vacant land to develop various types of affordable housing in the future.
We are fueling these two objectives through community bonds (ours are known as Housing Forever Bonds), foundation and government grants, and long-term debt financing options.
Additionally, we collaborate with other local groups in the housing space, from developers to non-profit housing providers and housing co-operatives, and with organizations supporting individuals to remain stably housed – all to improve housing affordability and housing security in Ottawa.
Why are CCOC and OCLT teaming up on Housing Forever Bonds?
CCOC and OCLT share the goal of preserving and expanding affordable housing in Ottawa. We believe that by working together, we can share resource to enhance our efficiency while also reach more members of our community. Together, we can raise more capital and help build and preserve more housing in Ottawa in a way that is collaborative and community-based. While we are joining forces for the campaign, it is important to note that bonds are issued by each organization separately.
How are you securing the bonds?
OCLT: To mitigate default risk and other risks, Housing Forever Bonds will be secured against properties within OCLT’s portfolio. A Trustee has also been identified to act on behalf of bondholders as needed.
CCOC: A security registration is required to provide Series Dbonds that are RRSP and TFSA eligible. A Trustee has also been identified to act on behalf of bondholders as needed.
The community bond is registered on title in second place on title for the property at 20 Robinson for a total value of $7,500,000, effectively securing bond series D. The remaining bonds would be partially secured should the Series D amount raised be less than $7,500,000.
CCOC has a solid track record, and a scenario of loan default where it cannot repay the bondholders is highly unlikely.
What happens when my Bond matures?
When bonds mature, CCOC and OCLT will reach out to their investors. We will disburse payment for the principal and the interest owing. Opportunities may also be available for investors to re-invest their capital.
Who is managing the investment process?
The investment will be managed via Tapestry’s proprietary investment management platform, and the bond sales will be tracked by OCLT and CCOC respectively through a Customer Relationship Management system. Tapestry has set up the platforms required to process bond transactions and manage interest disbursements for the bonds. CCOC and OCLT will manage client relations and be available to meet with investors to answer questions about their investments.
How do Housing Forever Bonds build and retain wealth within Ottawa, for Ottawa?
When you buy a Housing Forever Bond, you are making a meaningful direct investment into maintaining and increasing the supply of affordable housing in Ottawa. Your kindness and generosity mean individuals and families pay less in rent and are consequently able to save more, and/or allocate funds to education, skills or personal development. This has a profound impact on an individual’s mental and physical health and contributes positively to the social and economic growth of the greater community. Your capital never leaves this city – it enriches it. Meanwhile, you’re generating a financial return on your investment
How do I know my information is safe after it has been collected?
Bond purchase forms are prepared and executed in DocuSign. DocuSign eSignature protects highly confidential information by encrypting and making every document tamper-evident.
Tapestry’s Investment Management system is a closed, encrypted system. All traffic between the client and server is SSL-encrypted with a signed certificate issued by a third-party certificate authority (COMODO RSA Domain Validation Secure Server CA). All database files on the server are encrypted at rest. The server is hosted in a secure data centre in Canada. All data changes are logged in an audit trail, and only key Tapestry staff have access to this data.
Who is eligible to invest?
Individuals, businesses, and organizations throughout Canada are eligible to purchase a Housing Forever Bond.
Is this a revolving loan fund?
Yes. Bond proceeds will be used for the acquisition or development of properties. CCOC and OCLT will then be taking out mortgages for the long-term financing of these properties. When this long-term financing is in place, it will free up bond proceeds for the next acquisition or new property development. The bond funding will continue to revolve in this way, making multiple properties more affordable for households in Ottawa. At the end of a bond’s term, OCLT and CCOC will take those funds out of rotation and repay the investor. There might also be an opportunity to re-invest those funds, allowing CCOC and OCLT to continue adding affordable housing options with the support of community bonds.
Can I gift or transfer bonds?
Yes! Gifting a bond is slightly different than purchasing a bond for yourself. Email us at invest@housingforeverbonds.ca to get the process started.
All Bond series are transferable to another OCLT/CCOC bondholder with approval from the OCLT/CCOC Board of Directors and a $100 administration fee. Early redemption is only available in extraordinary circumstances, and with the approval of OCLT/CCOC Board of Directors.
What happens if you don’t raise your financial goals?
We will still proceed with our goals adjusting the scope of our projects as needed.
Questions? Contact us at invest@housingforeverbonds.ca or 613 234 4065 ext. 243
We’re raising capital in the capital—invest in the city you call home.
Privacy
Centretown Citizens Ottawa Corporation and Ottawa Community Land Trust are committed to protecting your privacy. Please review our respective policies here:
