A new non-profit organization has been established to address the growing need for affordable housing in the Ottawa Valley. Ottawa Valley Affordable Housing Inc. (OVAH), launched in June by a group of community volunteers, already has five projects underway and is seeking donated properties.
Founder and board chair Ish Theilheimer says the shortage of affordable homes is leaving workers, families and seniors struggling. “There just isn’t enough housing for younger and lower-paid workers and their families and for area seniors,” he said. Co-Board Chair Brian Abdallah talks about how the idea came to fruition:
The group grew out of three years of work by the Affordable Housing Alliance of the Ottawa Valley and is partnering with Vancouver-based Anhart Community Housing, a non-profit with experience developing affordable housing across Canada. Projects are currently being explored in Barry’s Bay, Golden Lake, Eganville, Pembroke and Cobden. Abdallah says Anhart’s interest was really key to getting the whole thing off the ground:
Through partnerships with municipalities, non-profits and developers, OVAH aims to expand housing options across Renfrew County using models such as community investment to bring long-term, sustainable housing to the region.
Anhart uses a tactic called “Impact Investing” which essentially means that they develop a community bond with a low interest rate and a five year guarantee designed to attract investors who truly want to see a return on investment. The funds generated are used as a down payment on projects instead of going to the bank for a loan.
Affordable housing remains to be one of the biggest challenges to communities in The Ottawa Valley and indeed right across the country and Abdallah knows that the OVAH is a big step forward:
The OVAH can be contacted by email at ovaffordablehousing@gmail.com or by phone at 613-757-2223.
(Written By: Richard Evans)
