Real Estate

The real estate firm reiterated its forecast from December that the aggregate price of a home in Ottawa will be two per cent higher in the fourth quarter of this year than in the final quarter of 2022.

As a record amount of office space sits vacant in Ottawa’s downtown core, a new study says the capital is well-positioned to turn some of its empty towers into residences.

Several prominent local real estate experts say they expect vacancies to keep rising as businesses rethink their space requirements.

Members of the Ottawa Real Estate Board sold 1,194 residential properties in March, a 40 per cent drop from a year earlier and well below the five-year average of 1,698 sales for the month.

More than half a million square feet of industrial space is in the works at two sites in west Kanata as developers scramble to satisfy demand for warehousing and light-manufacturing facilities in the city’s tightest submarket.

Ottawa firm purchased share of Brampton development in a joint venture with Toronto’s Crestpoint Real Estate Investments and New Brunswick-based Vestcor.

Speculation about alternate locations heated up last week when Mayor Mark Sutcliffe suggested the prime parcel of development land just west of downtown “is not the only option” for a new rink.

The Ottawa company in charge of developing and leasing a four-building industrial park near Amazon’s warehouse in Barrhaven says it expects a flood of calls from potential e-commerce and logistics tenants eager to capitalize on the city’s close proximity to major markets.

Empire Life, which marks its 100-year anniversary in 2023, is moving out of the iconic heritage building and office complex in downtown Kingston that has served as its home base since 1936.

Located just south of Hwy. 417 about 56 kilometres southeast of Ottawa, the facility is slated to open this spring and will serve as a parts distribution warehouse for Ford Motor Co., which has a 15-year lease on the property.