Are you looking to break ground? Maybe it’s for light industrial use, a truck transport terminal, bank, restaurant, convenience store, technology centre or warehouse.
The Ottawa International Airport Authority has 333 acres of land primed for development, including areas adjacent the EY Centre, a future light rail line, as well as established neighbourhoods. These seven plots of land range in size from 1.7 to 100 acres. Rather than just let this prime real estate lie fallow, YOW wants to see it put to good use.
Why? To spur economic activity in Ottawa and make it more affordable to travel by air.
“Land management and development is an important part of the Authority’s strategy to reduce our reliance on aviation-related revenue to fund operations,” said Mark Laroche, President and CEO.
“This is good for the community because aeronautical charges – whether they are the rates an airline pays to land an aircraft at YOW, or the airport improvement fee – are ultimately reflected in airfares. Monetizing land we don’t use is one way we can keep these costs as low as possible.”
The Authority has earmarked these lands for development only after careful consideration of its future needs. For instance, land that has (or potentially has) direct access to runways, taxiways, and aprons is reserved to support the long-term needs of the airport operation. But what it considers non-airside lands are available for development.
Laroche and his team are working with real estate services company Colliers International to market the Authority’s development land.
“We’re open to ideas,” he said. “From a service and repair shop, to a training centre or a high-tech park, there are many valuable uses for these lands.”
To learn more about the Authority’s leasing and development opportunities, please visit collierscanada.com/19385.