Homestead Land Holdings recently filed an application with the city to construct a 25-storey building with 235 apartment units near two existing highrises at 1300 McWatters Rd.
High demand, rising rents and the recent successes of other projects are leading to speculative developments picking up across the city, particularly near 400-series highways.
The decrease was primarily due to a relatively low number of multi-residential starts, which can fluctuate from month to month.
The citywide office vacancy rate rose to 9.8% at the end of June, up from 9.6% in the first quarter.
'I don't expect we'll be in a balanced market anytime soon.'
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Alignvest now owns three student housing buildings in Ottawa
A growing number of companies are roadmapping their return-to-the-office strategies and are thinking about their leasing needs.
Manor Park Management's new plan calls for two 30-storey towers as well as another 20-storey highrise and an eight-storey building with a total of 870 residential suites.
Company founded in 2018 closed deal for 12-storey office tower at 141 Laurier Ave. W. last week as it looks to expand its portfolio and branch out into multi-residential development.