Ottawa, September 07, 2021 – Hazelview Investments (Hazelview) is confirming additional changes to its commitment to the residents of the Heron Gate community, following the City of Ottawa Planning and Development Committee approval of an Official Plan Amendment on August 26, 2021. The plan will go before Ottawa City Council on September 8, 2021.
The additional commitments include:
- Extending affordable housing commitments for newly built construction to 15 years.
- Following those 15 years, residents living in the designated affordable housing will be protected and will continue to pay their current affordable rent at that time, plus increases per the RTA. This protection will be written into their lease agreement.
These commitments are in addition to the other commitments to affordable housing, social enterprise, green space, diversity of housing, and more, which are outlined in City of Ottawa planning report.
“We heard the feedback in the planning committee meeting, and we are continuing to listen to the community to ensure this is a development that meets the evolving needs within the City of Ottawa,” said Ugo Bizzarri, CEO, Hazelview. “With this, in addition our commitments in the Heron Gate Social Framework, and the progressive approach to re-development, we want to assure Heron Gate residents and the residents of Ottawa that we can build something great, together.”
Hazelview has invested over $175 million in the Heron Gate community since taking over the property in 2012.
To learn more about the redevelopment please visit www.herongatecommunity.com
About Hazelview Investments
Hazelview Investments is an active investor, owner and manager of global real estate investments committed to creating value for people and places. We have an active, hands-on team that helps us find opportunities to invest in sustainable developments and we are committed to fostering the long-term growth of our employees, residents and the investments we make for our clients. Hazelview has a proven track record of property management that spans 20 years, 6 provinces and 25 cities. To learn more visit hazelview.com
For further information:
Colleen Krempulec, VP Brand Marketing and CSR, Hazelview Properties
ckrempulec@hazelview.com
For investor inquiries:
Carrie Morris
cmorris@hazelview.com
For media inquiries:
Melody Gaukel, Proof Strategies
mgaukel@getproof.com