Richcraft plans pair of residential highrises near corner of Bank and Lisgar

Richcraft Lisgar development

Ottawa-based Richcraft Homes wants to build two residential highrises of 25 and 27 storeys just east of the corner of Bank and Lisgar streets in the latest plan from a major developer to add more density to the downtown core.

Toronto firm Graziani & Corazza Architects designed the distinctive-looking highrises, which would have nine-storey podiums and be connected at the third floor with a link that would feature a shared rooftop amenity area. The development would include a total of 521 rental suites in a mix of studio, one-, two- and three-bedroom apartments. 

Officially known as 176 Nepean St. and 293-307 Lisgar St., the property between Bank and O’Connor streets is currently occupied by a two-storey residential dwelling, a surface parking lot and a community garden.

The plan also calls for six storeys of underground parking with space for 282 vehicles and 470 bicycles. 

Paid public parking

In addition to seeking an amendment to raise the maximum heights allowed under current zoning, Richcraft wants the city to allow it to reserve some spots in the garage for paid public parking. 

“Considering the subject property’s proximity amenities on Bank Street and to the relatively new Parliament and Lyon LRT Stations, and as parking demand in the downtown core tends to be trending downwards..., it is difficult at this time to ascertain the market demands for resident parking,” the application says.

Richcraft says that while 30 parking spaces will be reserved for visitors, the rest of the spots will be allocated to residents or paid public parking “based on emerging market trends.”

The developer is also asking permission for reduced setbacks and less separation between the towers than current zoning requires.

City staff say they’re targeting a March date for the planning committee to consider the application.