I thought we had a thread for this one, but can't find it.
Native Women's Association of Canada sells off assets, promises transpare
NWAC says it's co-operating with a federal audit while conducting its own internal review
Brett Forester · CBC News · Posted: Jul 15, 2025
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Headquarters for sale for $8M
CBC Indigenous asked NWAC for an interview on Monday, after reviewing Quebec property records for the organization's real estate holdings. NWAC's statement said it will not be giving interviews, and provided no details about the alleged financial irregularities.
NWAC bought the property in 2018, obtaining a mortgage for $1.8 million, records show. The organization got another mortgage in 2020 for $5.9 million, and the records show NWAC got another mortgage worth $7.5 million in 2022, right around the peak of the pandemic-era real estate boom.
A lawyer who reviewed the deeds said this is not unusual, as each new loan likely paid off the remaining balance of the previous one, and the cash may have been used to finance construction or the property may have been used as collateral to pay for other ventures.
"Some real estate, especially in the area that they were investing in, was not — how can we say — very up to date," said Nicolas Vinette, a Gatineau-based lawyer with Duclos société d'avocats.
The organization now finds itself trying to sell a multimillion-dollar investment in an area surrounded mainly by federal buildings, he said, which was hit hard by the onset of remote work during the pandemic, and which is now sought after more for residential rather than commercial real estate.
"For commercial purposes, it's not the easiest market," Vinette said.
But there is still an opportunity to succeed with the investment, he added.
"It'll just be a question of: Is somebody willing to pay that amount of money for this building?"
NWAC's pivot to real estate development was part of a plan to give itself more freedom by generating own-source revenue, a move some critics branded as elitist and disconnected.
NWAC's routine audit for 2023 indicates the organization had two mortgages that year, one worth $5.8 million paid in monthly installments of about $37,000. The other mortgage was worth about $610,000.
NWAC also owns a property, its resiliency lodge, in Chelsea, Que., about 15 kilometres north of Ottawa, which is also for sale. Public records show NWAC bought the property in 2019 for $880,000, with an associated mortgage of $850,000.
In its statement, NWAC said the proceeds from the sale of its assets will be re-invested in advocacy for Indigenous women's social, economic, cultural and political wellbeing.
https://www.cbc.ca/news/indigenous/nwac-sells-gatineau-headquarters-1.7585761