In February 2023, the 32-unit apartment building at 240 Presland Road was destroyed by fire and deemed beyond repair. Since then, CCOC has been working towards a new vision for the property.
Now, we’re excited to share what’s next.
CCOC is preparing to transform 240 Presland Road into 64 brand-new affordable homes, doubling the number of homes previously located on the property. In line with CCOC’s mission, this new build is about building for the future and ensuring that more people have access to safe and affordable housing in our city.
What’s Coming to 240 Presland Road:
The new development has been thoughtfully designed to meet the evolving needs of Ottawa residents. This project will include:
- 64 affordable rental homes
- A mix of unit types with a range of affordable rental rates
- 10 fully accessible units (15.6% of all homes)
- A shared rooftop amenity space for residents
- Indoor and outdoor bike parking
- 25 resident parking spaces (0.39 spaces per unit)
While these plans reflect our current vision for the project, some details may change as planning and construction move forward.
Developments like 240 Presland Road do not happen overnight, and they do not happen alone.
We expect construction to be funded through a combination of CCOC equity, loans and grants from both Build Canada Homes and the City of Ottawa, private sector financing, and community investment. Community investments allow individuals, businesses, institutions, and organizations to invest directly with community organizations to facilitate the create and preservation of affordable housing while earning a financial return.
The Housing Forever Bond Campaign, a joint effort between CCOC and the Ottawa Community Land Trust (OCLT), is Ottawa’s community investment vehicle for affordable housing.
Community investments in CCOC’s Housing Forever Bond campaign play a critical early role by supporting the significant pre-development costs that advance projects to construction. Government funding doesn’t arrive until construction starts, and CCOC is seeking $575,000 in new investments to help close the critical funding gaps needed to move 240 Presland Road forward.
This new build is an exciting step forward in CCOC’s continued work to create and maintain housing for low-and moderate-income households in Ottawa. We look forward to sharing more updates as construction progresses. We are so excited to watch 240 Presland Road take shape and become a vibrant new community in Overbrook.
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