CHMC issues loan facility to Ottawa Housing Corporation under the National Housing Co-Investment fund
Canada | February 02, 2021
Client: Canada Mortgage and Housing Corporation (CMHC)
Our Toronto and Ottawa offices are representing Canada Mortgage and Housing Corporation (CMHC) in a C$170m repayable and forgivable loan facility to the Ottawa Community Housing Corporation (OCHC) under the National Housing Co-Investment Fund program.
This investment will fund the construction of approximately 700 new units across three sites, comprising of a total of four buildings in Ottawa. The new homes will support those of all ages, family compositions, and demographics, but 179 of the homes will be dedicated to priority groups such as seniors, women and children fleeing domestic violence, those facing mental health and addiction issues, and newcomers.
This is in association with the Canadian government's C$55bn National Housing Strategy to halve homelessness across the country, the largest program of its kind in Canadian history.
This investment will fund the construction of approximately 700 new units across three sites, comprising of a total of four buildings in Ottawa. The new homes will support those of all ages, family compositions, and demographics, but 179 of the homes will be dedicated to priority groups such as seniors, women and children fleeing domestic violence, those facing mental health and addiction issues, and newcomers.
This is in association with the Canadian government's C$55bn National Housing Strategy to halve homelessness across the country, the largest program of its kind in Canadian history.