Real Estate

Coverage commercial, industrial and residential real estate, breaking news on land development, major projects, and trends impacting real estate in the Ottawa area.

Les Promenades gets new owners

Non-Residential

Gatineau’s largest shopping mall, Les Promenades de L’Outaouais, has changed hands to a dual ownership by Oxford Properties Group and investment firm Montez Corp. The 835,000-square-foot

Ottawa housing starts up 6% in February

Residential

Rowhouse starts were the engine behind a 5.7-per-cent rise in overall Ottawa housing starts in February, according to the Canada Mortgage and Housing Corp. The

Ottawa resales up 7% in February

Residential

Ottawa Real Estate Board members sold 1,009 houses and condominiums in February, an increase of 7.3 per cent over last year. The average sales price

Construction permits up 11% in January

Construction

The value of local construction permits was up $2 million, year-over-year, in January, according to municipal records. The city issued 483 permits with a combined

417 widening to be folded into LRT project

Construction

The contract to build Ottawa’s light-rail line is slated to become far more lucrative for the successful bidder. City staff are now proposing to bundle

Public Works preps for watermain reconstruction

Construction

The federal government is looking for construction companies to complete a six-figure reconstruction of the watermain servicing the Cliff Heating and Cooling Plant. Solicitation documents

Downtown Islamic centre poised for redevelopment

Non-Residential

The owners of the Islam Care Centre on Lisgar Street are proposing to demolish the century-old building and replace it with new place of worship

$18M overhaul slated for old EDC space

Non-Residential

A closely watched downtown office tower is undergoing a significant interior facelift before the space is returned to the market, according to municipal records. Daoust

Local retail vacancy falls

Non-Residential

Retail vacancy declined by 40 basis points in the second half of 2011 to reach 2.3 per cent, according to brokerage firm Cushman & Wakefield

Delcan receives $1.2M bridge replacement design contract

Construction

The Ottawa office of infrastructure engineering firm Delcan Corp. has landed a contract worth nearly $1.2 million from Public Works for design work to replace