Dream Unlimited and its its partner Multifaith Housing Initiative (MHI) have commenced construction on a $310-million multi-residential rental project in Ottawa’s LeBreton Flats area.

Known as Odenak, the project is named after the Algonquin Anishinàbe word for “community,” and aims to foster connection and inclusivity. The name was unveiled at the groundbreaking ceremony, which was attended by government officials, project partners, and community leaders.

The development site is located at 665 Albert Street.

Odenak is a collaboration between Dream Unlimited, Dream Impact Trust, and MHI, a non-profit housing provider. The development has been designed by Perkins&Will, KPMB, and Indigenous architecture firm Two Row Architects to prioritize sustainability, inclusivity, and affordability.

Plans call for Odenak to feature two residential towers comprising 608 rental units, with 41% (251 units) dedicated to affordable housing. The latter units will support priority populations, including Indigenous peoples, veterans, newcomers, adults with cognitive disabilities, and women and children. At least 31% of the affordable units will also be fully accessible.

The project is backed by about $310 million in government funding, including:

• $49.5 million from the federal government’s Affordable Housing Fund (AHF);
• $233 million in low-interest loans from the federal Apartment Construction Loan Program (ACLP);
• $27.5 million under the Federal Lands Initiative (FLI); and,
• $15 million from the City of Ottawa.

“We are proud to work with the federal government, the City of Ottawa and MHI to create an innovative financing model that will increase the number of affordable housing units from 20% to 41% through a combination of Affordable Housing Fund and Apartment Construction Loan Program (ACLP) financing,” said Michael Cooper, Dream’s president and chief responsible officer.

“This approach can be applied to other projects and increase the amount of affordable housing built in Canada. We are also proud to begin construction on this landmark project that will foster a culture of belonging and provide a sense of safety and community for over 1,200 people thanks to funding from the Dream Community Foundation.”

Set to be one of Canada’s largest residential Zero Carbon Building-certified developments, Odenak is being built to LEED Gold standards, with a targeted energy reduction of 45% compared to standard code-compliant buildings. The design integrates the One Planet Living framework and aims to combine affordable housing with comprehensive community amenities.

The development will feature multi-purpose community spaces, co-working areas, and programming for residents of all ages. The Dream Community Foundation will invest $150,000 annually over the next 20 years to support initiatives such as after-school programs, fitness classes, and cultural workshops.

“Multifaith Housing Initiative is excited to be a part of this transformative new private and not-for-profit partnership model,” said Suzanne Le, executive-director of MHI. “The precedent we have jointly created at LeBreton Flats will initiate a new chapter in Ottawa’s affordable housing sector, while encouraging the creation of inclusive housing across the spectrum of Canadian society.

“Our signature housing model will bring vibrancy into this new downtown community with programs that engage tenants of all ages, and backgrounds.”

The project is situated next to transit, retail, daycares, health services, and the upcoming Ādisōke central library. Construction is expected to be completed by winter 2027.

A Model for the Future

Odenak serves as a blueprint for how private and non-profit sectors can collaborate with governments to deliver sustainable and inclusive housing solutions, said Dream. With its focus on affordable housing, green building practices, and community programming, the development aims to set a new standard for urban living in Canada.

“By combining public, private, and not-for-profit expertise, Odenak exemplifies how we can create vibrant, inclusive neighbourhoods while achieving competitive returns for investors,” said Cooper.

Image: Dream Unlimited