Developer eyes plan to replace Bank Street retail plaza with 16-storey mixed-use complex

New SerCo proposal

An Ottawa real estate firm is looking to redevelop a retail property on Bank Street and replace it with a mixed-use highrise containing apartments as well as retail and office space.

SerCo Realty Group has filed an application to build a 16-storey highrise with 160 rental suites at 1400 Bank St., just south of the Billings Bridge Shopping Centre. 

The developer says it plans to tear down the existing building at the site, a retail plaza that’s home to a payday lending outlet and a flower shop. 

Designed by Figurr Architects Collective, the proposed highrise would include a mix of bachelor, one- and two-bedroom apartments as well as rooftop amenity space, a gym and a shared lounge. 

The ground-floor retail component would cover nearly 3,800 square feet, with room for three businesses, with about 6,200 square feet of office space proposed for the second floor.

Three levels of underground parking would have space for 66 vehicles and 166 bicycles.

Acquired home of Manx Pub

It’s the latest proposal in what’s been a busy 2021 for SerCo, a growing family-owned enterprise that owns and manages more than two dozen residential, office and retail properties in the National Capital Region. 

Earlier this year, the firm unveiled plans for a pair of residential projects in Centretown. SerCo is proposing to tear down an existing office building on Waverley Street and replace it with a new six-storey apartment complex with 31 units, and the builder wants to convert a seven-floor office building on Cooper Street into an eight-storey, 45-suite rental property.

The company also acquired another prominent downtown property this fall, buying a four-storey mixed-use building at 370 Elgin St. that’s best-known for being the home of one of the strip’s most beloved watering holes, the Manx Pub.