HOA’s activities began in 1998 when Options for Homes, a Toronto development partner, completed the St. Lawrence Co-operative, a 95-unit development. The St. Lawrence Co-operative assigned to HOA the 2nd mortgages which would form the genesis for HOA’s support of low and moderate income Canadian families to become owners of their own home. These initial mortgages would also seed HOA’s loans for future projects which HOA has since provided to 10 other developments – and for this financing support HOA is assigned all 2nd mortgages from the development.
To date, Home Ownership Alternatives has supported 11 developments in the Greater Toronto and Kitchener-Waterloo regions of Ontario Canada, with over 2,350 units either occupied or under development.
