With affordability and housing being two key issues for Canadians today, non-profit real estate developer Options for Homes (OFH) and non-profit financing corporation Home Ownership Alternatives (HOA), have decided to partner under the same leadership.
For over 30 years, OFH and HOA have collaborated to work on attainable housing in Ontario. The groups say they’re “committed to building more homes by increasing the supply of high-quality attainable housing suites on the market.”
The recent agreement comes from a multi-month process between the companies’ executive teams and board members to decide how the organizations can make homeownership attainable in the current housing market.
A vision for dynamic, vibrant communities — beyond home construction
The joint vision goes beyond constructing houses — it’s also about “building dynamic, vibrant communities and providing more Canadian families with affordable, quality homes.”
Daniel Ger, CEO of HOA, was OFH’s chief development officer before joining HOA. Now, Ger will take over the leadership of OFH. “We have determined the best way to address the ongoing housing crisis is to bring our two organizations together under this agreement,” Ger says.
“This will allow us to develop, deliver and expand attainable homes in our pipeline more nimbly and efficiently. I’m incredibly thankful for the hard work of the Options for Homes team, which has resulted in the highest number of new home ownership units delivered by any not-for-profit developer in the Greater Toronto Area.”
Heather Tremain stepped down as OFH’s CEO of nine years. “I believe Options is ready for an evolution and this is the next logical step for these organizations,” Tremain expresses. “I couldn’t be prouder of the work we have accomplished in the past decade and I’m confident these changes will allow OFH and HOA to operate even more effectively while building on the team’s track record.”
“We are not just streamlining operations but also reaffirming our commitment to addressing affordable housing needs”
Elaine Crossland, board chair and director of HOA, weighs in: “By uniting our efforts, we are not just streamlining operations but also reaffirming our commitment to addressing the affordable housing needs in our communities. Under new management, we are poised to leverage the combined expertise and resources of both organizations to amplify our impact.”
The group is committed to exploring new partnerships with community stakeholders and government bodies to collaborate in developing and protecting attainable housing.