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Ontario  + Canada + Cross Border News  + Senior Housing  | 
Canadian commercial real estate buyers and sellers will have more opportunities to trade assets in 2024, says Marcus & Millichap.

City of Ottawa to Construct Seniors Apartment Building

The City of Ottawa will construct a new 54-unit seniors apartment building with financial help from Canada Mortgage and Housing Corporation.

A four-storey structure will be built in Nepean, a former municipality now incorporated into Ottawa. CMHC, a federal Crown Corporation, will provide $18.5 million under its $4-billion Rapid Housing Initiative, which supports Canada’s most vulnerable people, the parties announced.

The project’s funding will be drawn from the RHI’s $500-million cities stream.

The city and feds are partnering with Ottawa Salus, a Canadian charity that provides housing and support services for people living with mental illness in the nation’s capital. Salus owns buildings and partners with other building owners to provide independent-living environments.

CMHC said the project will provide an opportunity for older adults dealing with mental illness, addictions and homelessness to “age in place.”

The RHI is intended to create 4,500 more affordable-housing units across Canada.


Inside The Story

CMHCMonte Stewart

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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