Share this Story : Ottawa Community Land Trust selling bonds to raise $1.72M for affordable housing Copy Link Email X Reddit Pinterest LinkedIn Tumblr Breadcrumb Trail Links Local News Ottawa Community Land Trust selling bonds to raise $1.72M for affordable housing A land trust is a non-profit that acquires and holds property for the public good.
Long associated with preserving rural conservation land, there's a growing number of urban and suburban land trusts that aim to preserve existing buildings for affordable housing. Author of the article: Joanne Laucius Published Jun 02, 2024 • Last updated 1 minute ago • 6 minute read Join the conversation You can save this article by registering for free here . Or sign-in if you have an account.
Mike Bulthuis is the executive director of the Ottawa Community Land Trust. The Trust is using a new way to raise money to buy multi-unit apartment buildings for the city's affordable housing stock. Photo by JULIE OLIVER / POSTMEDIA Article content When the Ottawa Community Land Trust was looking for a way to raise money to buy more multi-unit apartment buildings for the city’s affordable housing stock, the non-profit landed on something different: Issuing community bonds.
Last month, the land trust held a launch at a Bank Street coffee shop. The eventual goal is to raise $1.72 million through the sale of the bonds, buy up more affordable housing units and offer investors a reasonable rate of return.
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