Local property management firms have an opportunity to bid on managing commercial, multi-residential and land rental properties from the National Capital Commission.
The vast list of properties include many in Ottawa, such as the Chateau Laurier’s restaurant space at terrace level, retail and commercial space at 106 Sparks St., and Dow’s Lake Pavillion.
The Canadian crown corporation opened a solicitation for management services of these properties after the current contract expires March 31, 2014. The successful bidder will have a five-year contract that runs until March 31, 2019, with the possibility of extensions through 2024.
The Ottawa Hospital’s future neuroscience institute ‘a game changer’ for ground-breaking treatment
The new neuroscience institute will provide a hub for brain-related researchers and clinicians – one of the strongest of its kind in the world.
An inside look at Ottawa’s office market trends
With organizations standardizing hybrid work, Real Strategy anticipates this reduction in tenant demand to continue.
Some of the management responsibilities include keeping the properties in good condition, minimizing costs and operating in accordance with the NCC’s environmental policies.
“Landholdings are a key element in the achievement of the NCC’s mandate and are essential to the long-term task of ensuring that the capital region is physically coherent, effective in terms of its functioning and symbolically meaningful to Canadians,” the NCC stated.
The NCC will evaluate bids by a combination of cost and technical ability, the corporation stated. The solicitation on BuyandSell.gc, a website that lists federal tenders, closes Aug. 9.
Across the capital, the NCC has about 600 rental properties. These locations are leased to entities that include governments, federal agencies, institutions and individuals. Examples of some types of NCC properties include heritage buildings, shorelines, and tracts of natural area that include the Greenbelt or Gatineau Park.
In January, the NCC announced it wishes to separate its property management into two portfolios, residential and commercial.
“The residential portfolio will consist of properties with family dwellings located throughout Canada’s capital region,” the NCC stated at the time.
“The commercial portfolio will consist of properties with retail space and restaurants, multi-residential units on Sussex Drive, as well as properties designated as agricultural, land, institutional and recreational.”