Whether it ends up bearing the name Re-Imagined or IllumiNATION, one thing is clear — a long overdue change is coming to LeBreton Flats.
For the team at local real estate holding and investment firm Sakto Corporation, it’s not important which of the two bids for the redevelopment of LeBreton ultimately wins. All that matters is that this vacant field in the heart of Ottawa become the jewel that it should be.
When it does, the new LeBreton will re-energize the Preston Street area.
“Preston Street is the natural gateway to LeBreton Flats, because it’s the direct connection with another magnet for some of the city’s signature events — Dow’s Lake,” said Sakto Corporation Chairman Jamilah Taib Murray.
Why is this important to Sakto Corporation? The firm is already heavily invested in the success of Ottawa’s Little Italy, with a mixed-use portfolio of around 750,000 square feet over six acres. It’s those blue-green towers adjacent to the Queensway — Preston Square.
Preston Square is home to Adobe, the local offices of the Government of Ontario, RBC and Sunlife, to name a few. It’s also home to the Heart and Crown, Starbucks, Salt Dining + Lounge and Kiko Sushi Bar, as well as 158-unit apartment complex The Adelaide.
Attracting a steady stream of visitors from across the region is crucial to support the dense concentration of shops and restaurants in this vibrant community. Because it lies between LeBreton and Dow’s Lake, Preston Street already benefits from the spillover from signature events like Bluesfest and Winterlude.
A redeveloped LeBreton, especially one that features a new home for the Ottawa Senators, will provide a fresh boost to Little Italy and adjacent neighbourhoods in need of revitalization, Taib Murray added.
“We are big supporters of bringing the Sens ‘home’ — to the heart of Ottawa,” she said. “The economic spinoff from that alone will have a huge impact.”