Real Estate

In an email to OBJ on Monday, Group Germain’s vice-president of operations, Hugo Germain, said the Quebec-based hotel chain is still working with the Ottawa International Airport Authority on a proposal to build a 180-room Alt Hotel that would be attached to the airport terminal.

Ottawa house prices have jumped nearly 14 per cent since the end of 2022, pushing the city back into “seller’s market territory,” the president of the Ottawa Real Estate Board said Wednesday.

Brokers Lindsay Hockey and Oliver Kershaw have taken their long-running partnership to Colliers International, joining the city’s second-largest commercial brokerage after a seven-year stint at Avison Young.

Altea Active, which signed its lease with RioCan REIT last week, will take possession of the old Canadian Tire retail store on Carling Avenue in August.

The federal housing agency is predicting that home prices in the capital will come in at an average of $640,000 on the low end and $700,000 on the high end in 2023.

Urban planning experts told the sellout crowd of 260 at the Shaw Centre that downtown merchants can no longer rely on a steady flow of office employees to drive sales.

In his new role, the Ottawa native will be in charge of securing partnership deals with the kind of deep-pocketed backers – including high-net-worth individuals, family offices and institutional investors – that can help fund Colonnade BridgePort’s next wave of multi-residential and industrial development proposals.

One of the capital’s leading construction and real estate executives is heading back to school – albeit briefly.

This week’s public-service job walkout adds to the list of challenges Ottawa faces as its economy tries to rebound from the pandemic and it looks to reimagine city space, a prominent urban planning expert says.

Builders in Ottawa launched 11,032 new housing units last year, an eight per cent increase from 2021, the national housing agency says in its latest Housing Supply Report released Wednesday.