109 New Co-operative Homes Under Construction in Kemptville, ON
Reuben Crescent Housing Co-operative will provide studio, one-, two- and three-bedroom homes for moderate-income households
NORTH GRENVILLE, ON, Sept. 18, 2026 /CNW/ -- Reuben Crescent Housing Co-operative and New Commons Housing Trust today celebrated the groundbreaking for a new 109-home co-operative housing community now under construction in Kemptville, an unincorporated community in the municipality of North Grenville, south of Ottawa.
North Grenville Mayor Nancy Peckford and MPP Steve Clark joined housing partners and co-operative sector leaders to mark an important milestone for the new co-operative community.
The $55.4 million development is supported with combination of financing and grants, including the Municipality of North Grenville's targeted property tax abatement program, the Province of Ontario's development charge waiver program, and an investment of over $3 million from New Market Funds.
"I congratulate everyone, including all three levels of government, whose work made today's groundbreaking possible. The need for new affordable housing is not just a big city issue. It's a challenge in growing small and rural communities, too and this 109-home co-operative housing community gives young people, families, and seniors in Kemptville the opportunity to find a home they can afford," said Steve Clark, MPP for Leeds–Grenville–Thousand Islands and Rideau Lakes. "I'm pleased our government is helping get more co-operative housing projects like this one built in Eastern Ontario by taking action that includes exempting affordable and non-profit housing from municipal development charges."
When complete, the new community will expand access to affordable, community-owned housing for moderate-income households in Kemptville village and includes 16 studio, 43 on-bedroom, 32 two-bedroom and 18 three-bedroom apartments. Monthly carrying charges (rents) will range from approximately $1,600 to $2,900. Construction began in April 2026 and is to be completed by September 2028.
Mayor Nancy Peckford shares that "as North Grenville continues to grow, we need more housing choices, and co-operative housing is an important part of that mix. New Commons Housing Trust's Reuben Crescent project will bring 109 new rental units to Kemptville, creating more options for individuals and families, including much-needed deeply affordable units. We welcome the significant investment from New Market Funds, as well as both municipal and provincial programs that has made it possible."
Reuben Crescent Housing Co-operative is developed by New Commons Development, a non-profit development company that is affiliated with New Market Funds, a charitably owned fund manager committed to investing private capital into community projects.
"New Market Funds is pleased to have the opportunity to support the Ruben Crescent Housing Co-operative in a pivotal financing role and increase access to affordable housing in the community," said managing partner Derek Ballantyne. "Kemptville, like many smaller communities, has the need for permanently affordable housing to support the community and its future growth."
The project also marks another step in the resurgence of co-operative housing in Canada. After decades of limited new co-op construction, new investments are helping expand a housing model that provides secure tenure and long-term affordability.
"Reuben Crescent is another example of the resurgence of co-operative housing across Canada, in communities both large and small," said Tim Ross, CEO, Co-operative Federation of Canada. "New investments are helping to expand the co-op housing model, which provides security, affordability and fosters strong and inclusive communities. CHF Canada is committed to growing co-op housing to meet the significant demand for this unique housing model."
Photos of the groundbreaking event available upon request.
About New Commons Housing Trust / New Commons Development
New Commons Development is a non-profit development company founded in 2018 and affiliated with New Market Funds, a pan-Canadian charitably-owned fund manager that invests private capital in projects that deliver community benefit. New Commons Development works with the non-profit, public, and private sector to create and preserve community-owned housing. Since 2018, it has completed 15 properties representing 884 homes, with another 12 properties and 999 homes currently under construction.
SOURCE New Commons Development
Media contact: Andy Broderick, Managing Partner, New Commons Development, 604-349-4241, [email protected]
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