Dream’s partnership with U.S.-based coliving giant and Ottawa Community Housing delivers unique and innovative mix of coliving, affordable and traditional suites
OTTAWA, ON, Dec. 11, 2023 /CNW/ – Dream Unlimited (TSX: DRM) and Dream Impact Trust (TSX: MPCT.UN) are excited to announce that leasing is now open for their first Ottawa-based rental building, Common at Zibi. The 25-storey building, located on Chaudière Island in the heart of Zibi, is set to redefine modern living in the national capital region with an innovative approach to integrating coliving, affordable and traditional suites in one building.
Common at Zibi will welcome its first residents in January. It is Common’s first coliving building in Canada, and Ottawa Community Housing’s (OCH) most recent affordable housing offering.
“We are very proud to be the first to offer coliving in Ottawa and are especially proud of the partnerships we forged to deliver a creative and unique housing solution that meets a wide-range of needs in this city,” said Michael Cooper, President and Chief Responsible Officer of Dream. “Every developer in Canada should be thinking creatively about how they are going to help solve the housing shortage in their communities.”
The award-winning Zibi is Canada’s first One Planet Living® community. It features high transit, walkability, and bike scores, is located within steps of downtown Gatineau and Ottawa, and offers a unique interprovincial district energy system, which heats and cools all buildings while producing zero carbon emissions. With its many waterfront parks and bustling event spaces, Zibi can easily boast the title of the national capital region’s most liveable community.
Common at Zibi features 48 coliving units, each accommodating up to 5 residents, 140 traditional suites, and 19 affordable homes, making it an inclusive and diverse environment for all residents.
“We are thrilled to be a part of this innovative housing partnership between Zibi and OCH,” says Stéphane Giguère, CEO of Ottawa Community Housing. “Providing much-needed affordable and diverse housing options to the residents of Ottawa, in one of the most amazing locations in Ottawa, is a prime example of how public-private partnerships can work together to create inclusive and sustainable communities. We are proud to partner with Dream and Common to deliver an inclusive living experience that is accessible to the Ottawa community.”
The OCH apartments, ranging from 1 to 2 bedrooms, will be available at affordable rates. The pricing structure is in line with Canada Mortgage and Housing Corporation (CMHC) 2023 affordable market rents. Notably, two of these apartments will be designed to be barrier-free, ensuring accessibility for all. The affordable homes will be managed by Ottawa Community Housing’s affordable housing branch, ARRIV Properties.
All residents of Common at Zibi will have full access to a wide range of amenities to enhance their living experience, including a breathtaking rooftop terrace, state-of-the-art fitness centre, secure bike storage, co-working spaces, theatre room, and a fully equipped party room & lounge.
“Common at Zibi is an opportunity for people to come together to enjoy this fantastic building, district, and the city in a way that is not only more affordable, but also more than just a place to live,” said Matthew Micksin, Vice President of Real Estate at Common. “We are thrilled to be making our entry into the Canadian market in such a beautiful location and with these two forward-thinking partners.”
While popular in major U.S. markets, coliving is a relatively new concept in Canada. The fully furnished coliving suites, which range from 2 to 5 bedrooms, include private bedrooms with shared kitchens and living spaces, as well as access to state-of-the-art amenities. Rent covers all utilities, Wi-Fi, modern, fully equipped kitchens, cleaning services and things like paper towels, cleaning products, and more. The model is ideal for international students or young professionals.
First occupancies at Common at Zibi are anticipated to begin in January.
Coliving suites: Residents interested in renting a room in one of the fully furnished coliving suites can book a meeting with a leasing agent, view floor plans, and find more information at www.common.com/zibi.
Traditional suites: One-bedroom, 1+den, and 2-bedroom suites are available. To meet with a leasing agent, view floor plans, and for more information, visit www.common.com/zibi.
Affordable apartments: Residents interested in renting or learning more about leasing opportunities at Common at Zibi can sign up for email updates at www.arriv.ca.
Zibi is a 13.7-hectare (34-acre) waterfront community carefully designed by Dream Unlimited, (TSX: DRM), and Dream Impact Trust, (TSX: MPCT.UN). It is a borderless neighbourhood, connecting the cities of Gatineau and Ottawa, where more than 5,000 people will live and 6,000 people will work, and containing three hectares (eight acres) of riverside parks and public squares, and more than one million square feet of commercial space. It is one of the most sustainable communities in the world, and the first One Planet Living endorsed Global Leader in Canada, a global framework developed by Bioregional and the World Wildlife Fund. www.zibi.ca.
Dream (TSX: DRM) is a leading developer of exceptional office and residential assets in Toronto, owns stabilized income generating assets in both Canada and the U.S., and has an established and successful asset management business, inclusive of $24 billion of assets under management across four Toronto Stock Exchange listed trusts, our private asset management business and numerous partnerships. We also develop land and residential assets in Western Canada. Dream expects to generate more recurring income in the future as its urban development properties are completed and held for the long term. Dream has a proven track record for being innovative and for our ability to source, structure and execute on compelling investment opportunities. For more information please visit: www.dream.ca.
Dream Impact is an open-ended trust dedicated to impact investing. Dream Impact’s underlying portfolio is comprised of exceptional real estate assets reported under two operating segments: development and investment holdings, and recurring income, that would not be otherwise available in a public and fully transparent vehicle, managed by an experienced team with a successful track record in these areas. The objectives of Dream Impact are to create positive and lasting impacts for our stakeholders through our three impact verticals: environmental sustainability and resilience, attainable and affordable housing, and inclusive communities, while generating attractive returns for investors. For more information, please visit: www.dreamimpacttrust.ca.
Common is a flexible residential brand that offers diverse housing options to residents looking for a stress-free and all-inclusive living environment distinguished by innovative technology, design, and operations. It is also a long-term trusted partner for real estate owners seeking reliable, above-market returns. In 2022, Common became part of Habyt – the largest global flexible living company with a mission to provide access to housing anywhere, for everyone. The company was founded in 2017 by Luca Bovone, and now operates globally. Today, Habyt’s portfolio consists of over 30,000 units in 50 cities, supporting thousands of customers every year. Habyt is backed by investors including Korelya Capital, Deutsche Invest, P101 and ITA500-Azimut, Exor Ventures, Endeavor Catalyst, HV Capital, Norwest, Kinnevik, Picus, Burda Principal Investments, Sequoia Capital, Mitsubishi Estate, Vorwerk Ventures and Inveready.
ARRIV Properties represents a new concept to fill the Ottawa affordable rental market gap. ARRIV Properties is a new brand designated for affordable housing developed by Ottawa Community Housing. It offers homes at average or below-average market prices, setting the standard for modern living and lifestyle at an affordable price. It is an exciting milestone because it signals another offering in the housing continuum by providing apartments and townhomes at affordable prices for low- to moderate-income households. For more information please visit: www.arriv.ca or www.och-lco.ca
Ottawa Community Housing operates as ARRIV Properties.
SOURCE Dream Unlimited
Featured image: Megapixl © Scyther5