Glassworks (full business name "Owen Sound Glassworks Development Co-operative") was founded in 2015 to serve Owen Sound and the broader Grey-Bruce region. It brings together future residents, employers, and partners committed to creating an attainable, net-zero community grounded in shared values of sustainability, affordability and community.

Since its founding, Glassworks has built a strong membership base dedicated to realizing our vision. Early efforts included attempts to secure the former PPG Industries Glassworks site (which inspired the co-op's name) and the Bayview Public School property. In 2019, the co-op successfully acquired 46 acres of land on Owen Sound's east side, beginning detailed due diligence, planning, and consultation to align the project with local needs.

By 2023, member rallied to protect the land from sale and refocused efforts on affordable homeownership as opposed to rental.

What began as a small initiative has grown into a comprehensive plan for 350-500 high-performance homes, designed to serve workers, families and seniors while promoting environmental responsibility and climate-conscious living.

Glassworks is now in pre-development, collaborating with municipal staff to finalize planning requirements, advance design work, and secure approvals for construction.

The name Glassworks reflects Owen Sound’s industrial heritage and the community’s resilience in the face of change. In 2008, the PPG Glass Manufacturing Company closed its doors, resulting in the loss of 170 manufacturing jobs and a key local employer. Although the co-op initially considered developing on the old PPG site, they ultimately chose a different location for the housing development. However, the impact of job losses, the decline of manufacturing, and the shifting economy have remained influential in our work.

One of the co-op’s founders found a beautiful piece of glass on the old PPG site during a site tour, reminding the team that, like glass, the community could be reshaped and renewed. The name Glassworks represents both a tribute to local history and the members of the co-op’s commitment to creating a beautiful, stable, inclusive future economically, socially and environmentally in the region.

The idea for Glassworks grew from the co-operative housing movement - a belief that living collaboratively makes communities stronger. By sharing resources, supporting one another and building with intention, we can enhance wellbeing while using out land, money and energy more wisely.

The Canadian Mortgage and Housing Corporation has called initiatives like Glassworks “the future of affordable housing.” We believe they are right—because what we are building is not just homes, but a way of living that is affordable, sustainable, and community-driven. But how do we get there? We start with a shared vision, a clear mission, and practical aims to guide us through our first ambitious and socially important housing development of 350-500 homes.

Our vision is to shape a future where people of all ages and means can learn, work and live together in an attainable, net-zero neighbourhood with shared values and amenities.

Members of Glassworks Co-operative help bring our vision, mission and values to life. Member contributions not only makes our community better - it also gives people the chance to participate in meaningful work, influence Glassworks projects, access valuable resources and enjoy exclusive member benefits.

By joining the co-operative, you directly support initiatives in 3 key areas:

• Affordable Homeownership

• Economic Development and,

• Environmental Leadership

Our members are at the heart of everything we do. Glassworks' bylaws, policies, strategic plan, communication strategy, and membership structure are all shaped by Members, our Board of Director, staff, and circle members.

Member benefits include:

• Voting privileges at AGMs and member meetings

• Member only events, communications and ongoing spaces

• The opportunity to serve on the Board of Directors and Circles

• Training and Educational resources

• Decision making and ongoing feedback opportunities on Glassworks projects

Note: our Communications and Membership Circle is currently working on developing more member benefits

Glassworks uses Member fees, donations, sponsorships and grants to fund our operations and staff in order to complete necessary tasks such as member communications, outreach, circle facilitation and more.

Glassworks Village is being financed through Member Loans secured against the land - which continues to increase in value.

To ensure the long term sustainability of Glassworks we are working to bring in new income from membership fees, donations to the Small Change Fund, grants and corporate sponsorships.

2023 Audited Financials

2024 Audited Financials

2026-2027 Budget

The Affordable Home Ownership Development framework is a financial model created to make homeownership accessible to households with moderate incomes. It involves shared equity financing, where the co-operative or a partner organization helps finance part of the down payment and the carrying cost of the mortgage for the homeowner. This reduces the initial cost barrier to homeownership and the income threshold required to carry the home’s mortgage. Over time, when the home is resold or the homeowner repays their share of the mortgage, the Community Wealth Co-operative that is the homeowner’s mortgage lender, recoups its investment and reinvests it into future affordable housing projects. This model ensures that an increasing supply of affordable homes are being constructed to help future buyers while creating a sustainable cycle of reinvestment in the community.

Local employers—whether in health care (our largest sector), the service industries, the trades, non-profits, or other fields—depend on stable, long-term workers to maintain and grow their operations. Yet with a 1% vacancy rate and some of the highest housing costs outside the GTA, it is becoming increasingly difficult to recruit and retain the people who make our community work.

Affordable homeownership isn’t just about supporting families—it’s about ensuring workforce stability. Employers understand that if workers can’t find secure, affordable places to live, they will leave. When that happens, businesses suffer, and the community as a whole feels the impact.

The following employers have written support letters endorsing the Glassworks Village affordable homeownership project recognizing that their workers want to own a home in Owen Sound. If you would like to join the growing list of employers who endorse Glassworks - fill out or employer survey below.

Employers that have endorsed Glassworks:

• Brightshores Health Systems

• Owen Sound and District Chamber of Commerce

• Canadian Union of Skilled Workers

Employer Survey

The project will prioritize ownership for families and individuals with earnings starting at minimum wage ($35K/year). Unit sizes will be matched to income ranges (studios for $35K-$45K, one bedrooms for $45K-$55K and family sized homes for $55K+).

Why is there such a strong focus on affordability? Currently, Owen Sound has the highest housing costs in Ontario outside of the GTA. Dignified housing (and especially homeownership) is out of reach for many. Social isolation is also increasing with stressors directly linked to affordability of basic needs. The need for affordable housing is clear and our unique model for ownership allows lower income households the ability to grow generational wealth and access shared amenities and multi-generational support systems. 

To address immediate needs, Glassworks is focusing heavily on affordable homeownership. This offers an opportunity for people who might otherwise struggle to afford market-priced homes. Additionally, the design prioritizes sustainability, accessibility, and community-focused living, ensuring that future residents have affordable, energy-efficient homes that will stand the test of time. The integration of shared equity models and employment opportunities further supports long-term financial security for residents.

The term Workforce Housing is usually used when engaging with employers, municipalities and other levels of government because it speaks directly to their priorities: economic development, talent recruitment, and retention. Workforce housing focuses on creating affordable homeownership opportunities for the very people who keep the local economy running but are often locked out of the traditional housing market.

By targeting moderate-income households—particularly those earning $35,000 to $85,000 annually—this approach enables essential workers such as health care staff, teachers, tradespeople, and service industry employees to secure stable housing within the communities they serve. In doing so, it ensures that vital workers can live close to their workplaces, strengthening both the local economy and community resilience.

Construction costs will be financed through loans secured from a mix of sources, including federal and provincial governments, credit unions, and banks. The Affordable Homeownership Development framework is designed to cash-flow the pre-development process, though this stage can be challenging and often requires creative, collaborative solutions to ensure success.

• Pre-Development Financing: The most challenging stage is getting a project to the point where construction financing can be secured. During this stage we are utilizing deferral of fees by service providers, loans secured against the land, and contributions from supportive partners.

• Construction Financing: Once approvals are in place, construction costs are finances through mainstream loan sources (such as federal and provincial programs, credit unions, banks and partnerships with private lenders). The focus is on borrowing rather than subsidies.

We are also utilizing cost reduction strategies such as:

• Simple but durable designs

• Scale (price declines per unit as more projects are built)

• Modular methods (exploring prefabrication and streamlines techniques to reduce labour and material costs)

• Minimal marketing (no expensive sales office or flashy campaigns)

• Discounted professional services and fixed low commissions, ensuring money goes directly into affordability

The Community Wealth Cooperative will also play a central role:

• Homebuyers receive downpayment assistance from Community Wealth Cooperative. When homes are resold, any equity appreciation is returning to the Community Wealth Cooperative.

• Community Wealth Cooperative, using its Credit Union partners as administrators, provide mortgages directly to buyers, ensuring financing terms align with affordability goals.

• Instead of profit leaving the region, it funds future projects, jobs and enterprises.

The Community Wealth framework doesn’t rely on perpetual government subsidies. Instead, it uses creative pre-development financing, mainstream construction loans, strict cost discipline, and a shared equity system that recycles housing wealth back into the community. Over time, this builds a self-funding engine for affordable homeownership and local economic resilience.

Thus far, Member Loans (Bonds) or Investments have been used to:

• Pay off the vendor take-back-loan

• Invest in GICs are an interim way to generate a return when the money is not being used

• Pay for the service provider fees (Lawyer, Development Consultant, Architect, Planner etc)

• Pay for pre-development and consultation work with the City of Owen Sound and County

• To cover a portion of Glassworks Operations and Staff Hours

• Some costs have and will be deferred until successfully securing financing.