While sales of condominiums rose 22 per cent year-over-year to 481, the number of new units added to the market jumped 70 per cent compared with October 2019.
List of this year's best in Ottawa business includes a massive real estate deal, several up-and-coming tech firms and Canada’s most valuable publicly traded company.
Deal equates to $51 per square foot of buildable gross floor area and is part of a larger divestment of its interest in Ontario real estate projects to Woodbourne Capital Management.
Plan calls for 175-unit condo complex with retail space on the ground floor as well as hundreds of other condos, townhomes and single-detached dwellings at Hazeldean Road site.
Firm says businesses in Ottawa pay an estimated $26.64 in property taxes per $1,000 of a property’s assessed value, the fourth-highest rate among country's major cities.
With relatively little new retail space under construction that’s poised for an imminent delivery, the storefronts currently being vacated should be quickly absorbed once the economy rebounds.