New Commons Development
New Commons Development is a Canadian non-profit real estate development company that partners with non-profits, housing co-ops, faith groups and public-sector entities to develop and preserve affordable housing and community-owned real estate across British Columbia, Ontario and Quebec, providing at-risk pre-development capital and project management expertise.
- Company typePrivate
- Founded2018
- HeadquartersToronto, Canada
- Headcount11–50
- GTM typeB2B
- OfferingServices
What New Commons Development does
New Commons Development Inc. is a Canadian non-profit real estate development company founded in 2018 as part of the New Market Funds platform, with offices in Vancouver, Toronto, and Montreal. The firm partners with non-profit organizations, housing cooperatives, faith-based communities, and public-sector entities to develop and preserve affordable housing and community-owned real estate assets, maintaining affordability in perpetuity. Its operational model centers on projects with total development cost of $10 million or more, on which New Commons provides up-front, at-risk capital for pre-development phases (feasibility, design, structuring) and earns pre-negotiated development fees, a portion of which is shared with local non-profit partners to strengthen their financial capacity and a portion of which remains at risk through construction completion.
The company's service offering comprises three interconnected lines: (1) Affordable Housing Development Services as the core competency, managing projects end-to-end from conception through resident move-in; (2) the Small Communities Initiative (SCI), which extends the same development expertise, capital, and aligned interest to small, rural, and remote Canadian communities with funding support from the Real Estate Foundation of BC and the Government of Canada's Investment Readiness Program; and (3) the New Commons Development Fund, an investment vehicle for accredited investors that invests capital into affordable housing and community real estate from early-stage through stabilization while targeting risk-adjusted market-rate returns.
Revenue is generated primarily from development fees funded through project financing (so partners do not incur direct expense), supplemented by fund-level returns from the New Commons Development Fund. The company is led by a five-partner management committee (Andy Broderick, Derek Ballantyne, Garth Davis, Heather Tremain, and Lauren Giroday as CFO), supported by Directors of Development and Senior Development Managers across offices, and operates under the New Market Funds Society trademark. Its owner is New Market Funds Society, with philanthropic capital sourced from five leading community investment organizations including the Atkinson Foundation, Balsam Foundation, Hamilton Community Foundation, Inspirit Foundation, Metcalf Foundation, Toronto Foundation, and others.
New Commons Development firmographics
Firmographics- Name
- New Commons Development
- Legal name
- New Commons Development Inc.
- Website
- https://newcommons.ca
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- New Commons Development is a Canadian non-profit real estate development company that partners with non-profits, housing co-ops, faith groups and public-sector entities to develop and preserve affordable housing and community-owned real estate across British Columbia, Ontario and Quebec, providing at-risk pre-development capital and project management expertise.
- Ownership category
- akta.pro rank
New Commons Development industry classification
Industry- Product category
- Affordable Housing Development
- NAICS
- New Multifamily Housing Construction (except For-Sale Builders) (236116), Nonresidential Building Construction (2362)
- SIC
- General Bldg Contractors - Residential Bldgs (1520), Non-Operating Establishments (9995)
- akta.pro primary industry
- Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC)
- akta.pro secondary industries
- Residential Affordable Housing Development & Construction (IMAFABAI), Independent Living Community Development & Construction (Senior Housing Developers) (HLADAAAH)
Keywords
Where New Commons Development is headquartered
LocationHeadquarters
- HQ city
- Toronto
- HQ country
- Canada
- HQ region
- North America
Offices3 records
Markets served
New Commons Development business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Supply Chain
Revenue model
- Development Fees: New Commons Development earns a pre-negotiated development fee through each project they complete. Some of this fee remains at risk through the end of construction to cover unanticipated costs. Development fees are shared with local non-profit partners, strengthening their financial capacity and balance sheet. Development fees are funded through project financing, so local partners never incur direct expenses for this purpose.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
New Commons Development product offering
Product offeringCore offering
New Commons Development is a non-profit real estate development company that partners with non-profit organizations, housing co-operatives, faith-based communities, and public sector entities to develop and preserve affordable housing and community real estate assets. The company provides up-front, at-risk pre-development capital and manages all phases of project delivery—from feasibility through design, construction, and resident move-in—while sharing development fees with local non-profit partners. Projects are maintained as affordable in perpetuity under community ownership.
Product overview
New Commons Development is a non-profit real estate development company offering a suite of services focused on building and preserving affordable housing and community assets. The core offering consists of affordable housing development services, supplemented by the Small Communities Initiative (SCI) program which extends development expertise to small, rural, and remote communities. The New Commons Development Fund provides investment opportunities for institutional investors seeking risk-adjusted returns while supporting community development. These offerings work together to enable community partners to realize project goals, revitalize communities, and maintain assets in community ownership for the long-term.
Differentiator
Problem solved
Functional benefit
Brands
- New Commons Development Fund: Investment fund that invests in affordable housing and community real estate assets from early-stage through to stabilization, generating risk-adjusted market-rate returns.
- Small Communities Initiative (SCI)
Products and services
- Affordable Housing Development Services Non-profit real estate development services that work with community partners to develop affordable housing and social purpose real estate stewarded by community-based organizations and maintained as affordable in perpetuity. Service targets projects of $10 million or more in total development cost.
- Small Communities Initiative (SCI) A specialized development program that brings development expertise, capital, and aligned interest to small, rural, and remote communities to build and preserve affordable housing and social-purpose real estate assets.
- New Commons Development Fund An investment fund that invests in affordable housing and community real estate assets from early-stage through to stabilization, generating risk-adjusted market-rate returns for accredited investors. The New Commons Development I LP is closed to new investors.
Quantifiable outcome
- Over 300 seniors served through St. Hilda's retrofit project
- +3 more outcomes
Companies that use New Commons Development
Customer profileNamed customers6 records
Segments5 records
Ideal customer profiles5 records
New Commons Development technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
New Commons Development partnerships and signals
Strategic signalPartnerships
14 partnerships are on record, tiered core and minor.
- New Market FundscoreNew Market Funds is a fund manager that connects investor capital with community need. New Commons Development is part of the New Market Funds' growing platform that includes both affordable housing and community lending practices. Andy Broderick is a member of the New Market Funds management committee and is responsible for New Commons Development.
- Community Forward Fund Assistance CorpcoreThe Community Forward Fund Assistance Corp is the first non-profit registered fund manager in Canada. It makes loans to, or arranges financing for, non-profits, charities and social enterprises. Derek Ballantyne is responsible for this entity and supports the work of New Commons Development.
- Canadian Co-operative Investment Fund (CCIF)coreCanadian Co-operative Investment Fund makes loans, hybrid and equity investments in co-operative enterprises. CCIF is part of the New Market Funds platform.
- WoodGreen Community ServicescoreNew Commons Development is working with WoodGreen Community Services on a project providing 36 new affordable rental housing units for seniors, as well as a Parent-Child resource centre and community gathering space in Toronto.
- St. Hilda's Community of CarecoreNew Commons Development partnered with St. Hilda's Community of Care on a major retrofit of two residential towers that includes building systems and unit renovations and upgrades, improving the resident experience for over 300 seniors.
- Kingston Co-operative HomescoreKingston Co-operative Homes, Compass Ontario and New Commons are partnering with the City of Kingston to develop a 3-storey 38-unit apartment building owned by the Kingston Co-op at 1316-1318 Princess Street.
- Options Community ServicescoreNew Commons Development is working with Options Community Services on a project at 13583 81st Avenue, Surrey, BC that will bring 100 new homes plus ground and second floor social service and office space.
- Vancouver Community Land TrustcoreWorking with the Vancouver Community Land Trust and the Vancouver Affordable Housing Agency, New Commons Development is working on a 102-unit co-op at 5085 McHardy Street and a 154-unit social housing project at 1190 Burrard.
- Vancouver Affordable Housing Agency (VAHA)corePartnering with Vancouver Community Land Trust and VAHA on affordable housing projects in Vancouver including a 102-unit co-op and 154 social housing homes.
- Kiwanis HomesminorNew Commons Development helped Kiwanis Homes (Hamilton East Kiwanis Non-Profit Homes Inc.) undertake strategic portfolio planning for their real estate holdings.
- Elk Valley Family SocietyminorSmall Communities Initiative case study partner in Elk Valley, BC.
- Kaslo Housing SocietyminorSmall Communities Initiative case study partner in Kaslo, BC.
- New Denver and Area Housing SocietyminorSmall Communities Initiative case study partner in New Denver, BC.
- Sunshine Coast Affordable Housing SocietyminorDion Whyte, Director of Development at New Commons Development, previously served as Chair of the Sunshine Coast Affordable Housing Society.
Scale indicators2 records
Recent moves7 records
Expansion highlights6 records
New Commons Development competitors and assessment
Company assessmentBroad incumbents
- Habitat for Humanity Canada: National non-profit affordable housing developer operating across Canada. Comparable mission and partnership-based development model with non-profit and community stakeholders; significantly larger scale and broader brand recognition.
- BC Housing: Provincial housing agency administering subsidized and affordable housing across BC. Comparable as a funder and developer of affordable housing in BC, where New Commons Development operates in partnership with municipalities and agencies including VAHA.
- Build Toronto: Toronto municipal development corporation overseeing city-owned real estate development. Derek Ballantyne (Managing Partner) was COO. Comparable as a public-sector-aligned real estate developer focused on community impact in Toronto.
- Toronto Community Housing: Canada's largest social housing provider, managing ~58,000+ units. Derek Ballantyne (Managing Partner at New Commons Development) was CEO. Serves the same affordable housing sector in Toronto through publicly owned assets; broader incumbent to New Commons Development's partnership-based model.
Regional players
- Calgary Housing Company: Municipal housing company serving Calgary and surrounding Alberta communities. Comparable as a public-sector-affiliated affordable housing developer; operates in a different geography but with similar mission and partnership-based model.
Direct peers
- Options for Homes: Canada's largest non-profit developer of attainable ownership housing. Heather Tremain (Managing Partner at New Commons Development) was CEO prior to joining New Commons. Same non-profit model delivering housing outside the speculative market with mission-aligned partnerships.
- Housing Vermont: Non-profit real estate developer and equity fund manager for affordable housing in Vermont. Strongly comparable: led by Andy Broderick (Managing Partner at New Commons Development) before co-founding New Commons, and operates the same model of combining development services with patient capital for the non-profit housing sector.
- Canadian Co-operative Investment Fund (CCIF): Makes loans, hybrid, and equity investments in co-operative enterprises, including housing co-ops. Sister platform entity under New Market Funds; directly comparable as a co-investor and capital partner for New Commons Development's co-op housing projects (e.g., Kingston Co-operative Homes).
- Community Forward Fund: First non-profit registered fund manager in Canada, providing loans and financing to non-profits, charities, and social enterprises. Sister organization within the New Market Funds platform with overlapping leadership (Derek Ballantyne); intersects directly on affordable housing financing.
Others
- Vancity Community Investment Bank: Community investment bank focused on affordable housing and social ventures in BC. Andy Broderick (Managing Partner at New Commons Development) helped launch Vancity Community Investment Bank. Capital partner and adjacent ecosystem participant in the BC affordable housing space.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
New Commons Development social profiles
Digital presenceNew Commons Development financial estimates
Financial estimateRevenue estimate
Valuation estimate
New Commons Development leadership team
Management profileNumber of profiles
Profiles14 records
New Commons Development funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
New Commons Development M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about New Commons Development
What does New Commons Development do?
New Commons Development is a non-profit real estate development company that partners with non-profit organizations, housing co-operatives, faith-based communities, and public sector entities to develop and preserve affordable housing and community real estate assets. The company provides up-front, at-risk pre-development capital and manages all phases of project delivery—from feasibility through design, construction, and resident move-in—while sharing development fees with local non-profit partners. Projects are maintained as affordable in perpetuity under community ownership.
Is New Commons Development a public or private company?
New Commons Development is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was New Commons Development founded?
New Commons Development was founded in 2018. It employs 11 to 50 people.
Where is New Commons Development based?
New Commons Development is headquartered in Toronto, Canada, in the North America region.
How does New Commons Development make money?
One revenue line is on record: development Fees.
Who are New Commons Development's main competitors?
Broad incumbents on record are Habitat for Humanity Canada, BC Housing, Build Toronto and Toronto Community Housing. Calgary Housing Company is listed as a regional player. Direct peers are Options for Homes, Housing Vermont, Canadian Co-operative Investment Fund (CCIF) and Community Forward Fund. Vancity Community Investment Bank is listed as an others.
Does New Commons Development have an API?
No public API is recorded for New Commons Development.
What industry is New Commons Development in?
New Commons Development's product category is Affordable Housing Development. Its primary akta.pro industry code is BPAGALAC, Affordable Housing & Community Development (Housing, Community Land Trusts), with a secondary code of IMAFABAI, Residential Affordable Housing Development & Construction. Its NAICS code is 236116 and its SIC code is 1520.