Ottawa City Council invests $10 million in Wateridge Village

Council approved a plan for the City to acquire a portion of the former Canadian Forces Base Rockcliffe from the federal government for up to 271 units of affordable housing.

Under the agreement, the City will pay $300,000 and the Canada Mortgage and Housing Corporation will pay $4.6 million. Council also approved $10.3 million in capital funding for this development, from the $15 million that Council allocated for new affordable housing in Budget 2019.

Ottawa Community Housing issued the following statement:

Ottawa Community Housing Corporation (OCHC) wishes to sincerely thank Ottawa City Council for voting in favour of entering into an agreement with the corporation to build more than 250 new affordable homes in the Wateridge Village community (located on a portion of the former Canadian Forces Base Rockcliffe), including $10 million in capital funding for the project.

OCHC also wishes to thank the Government of Canada and the Canada Mortgage and Housing Corporation for assisting the City of Ottawa in acquiring this land.

As we look to build more affordable homes for the residents of Ottawa, the most critical pieces we need are capital funding and land. The announcements made today will be crucial for OCHC as we continue to innovate to meet the housing needs of our City. We will remain focused on working with partners, the private sector, and all levels of government to build more affordable homes.

The corporation will be moving forward with delivering this project and looks forward to providing additional information in the near future.

"I want to thank Council for their leadership on the issue of affordable housing, and for the confidence that they have placed in OCHC to deliver this project. This $10 million investment will help us build more quality affordable homes. We look forward to a meaningful and successful partnership throughout this project." -Stéphane Giguère, Chief Executive Officer of OCHC

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