The average rent in Ottawa jumped 5.6 per cent from a year earlier to $1,174, with two-bedroom units costing tenants 5.8 per cent more at an average of $1,301
But some question whether market can absorb flood of new units
It would be the first rental property in Ottawa for Katasa, which also said it plans to develop retirement homes and student residences on the Ontario side.
However, vacancy rates are expected to face upwards pressure in 2019 as developers complete rental construction projects.
Nearly seven years after starting construction on one of Canada’s largest new purpose-built rental developments in a generation, an Ottawa developer has finalized the sale of the project’s final tw