Odenak breaks ground in Ottawa
Camco Realties, in partnership with Dream and Multifaith Housing Initiative (MHI), broke ground on Odenak, a transformative housing development located in Ottawa’s LeBreton Flats, on November 15, 2024. The milestone event marked the start of construction on the Library Parcel site and unveiled the name “Odenak,” derived from the Algonquin Anishinàbe word for “community,” reflecting the project’s focus on connection, inclusion, and shared belonging. Government officials and key project partners were in attendance to celebrate the launch of this landmark initiative.
“We’re proud to collaborate with the federal government, the City of Ottawa, MHI, and Camco Realties to implement an innovative financing model that will increase affordable housing from 20% to 41% through a mix of Affordable Housing Fund and Apartment Construction Loan Program (ACLP) financing,” said Michael Cooper, President and Chief Responsible Officer of Dream. “This project will help foster a safe, inclusive community for more than 1,200 people, thanks in part to continued support from the Dream Community Foundation.”
Odenak will be developed as part of the 1.1-hectare LeBreton Flats Library Parcel, located on the western edge of downtown Ottawa. Designed by Perkins&Will, KPMB, and Indigenous firm Two Row Architects, the development will consist of two residential towers with a total of 608 units—251 of which will be reserved for affordable housing. A substantial portion of these units will be prioritized for underserved populations, including Indigenous peoples, veterans, newcomers, women and children, and adults with cognitive disabilities. Additionally, at least 31% of units will be fully accessible.
More than just a residential development, Odenak will integrate affordable housing with sustainable building practices and robust social programming. It is targeting LEED Gold certification, will follow the One Planet Living framework, and aims for a 45% reduction in energy use compared to buildings that meet the national building code.
The Dream Community Foundation will contribute $150,000 annually over the next 20 years to support cultural, educational, and wellness initiatives for residents of all ages. In collaboration with Camco Realties, Dream, and MHI, a wide range of services will be offered—including after-school programs, fitness classes, and bike maintenance workshops—nurturing a strong sense of community.
Odenak has been made possible through more than $310 million in federal and municipal funding, including:
$49.5 million from the federal Affordable Housing Fund (AHF)
$233 million in low-interest, fully repayable loans from the Apartment Construction Loan Program (ACLP)
$27.5 million under the Federal Lands Initiative (FLI)
$15 million from the City of Ottawa
“This is a significant milestone in the Building LeBreton plan,” said Tobi Nussbaum, CEO of the National Capital Commission (NCC). “We’re proud to work with our partners—Camco Realties, Dream, and MHI—to bring the NCC’s vision of a vibrant, inclusive, and sustainable mixed-use community in the heart of Canada’s capital to life. Together, we are contributing meaningfully to the federal government’s efforts to address the housing crisis.”