Citing data from research agency Environics Analytics, Colliers Canada said Tuesday that Ottawa’s office occupancy rate is currently at 54 per cent of pre-COVID levels.
The federal government’s proposal to turn a two-and-a-half-acre site across from Parliament Hill into an office and retail complex is a “great start” toward revitalizing the Parliamentary Precinct, a prominent Ottawa real estate executive said Friday – but other business leaders say they’re not convinced the project will give struggling downtown merchants the boost they need.
In an email to OBJ this week, PSPC called the Block 2 redevelopment project “a “key part” of the federal government’s efforts “to restore and modernize” the Parliamentary Precinct.
Southern Ontario-based developer and property manager Morguard had owned the 11-storey, 275,000-square-foot office building at 181 Queen St. since it opened in 2004.