Firms say a number of factors – including soaring inflation, rising interest rates and new city fees – are causing them to re-evaluate plans for major multi-residential towers in Ottawa's core.
Trinity Development Group
'Tracking in the right direction': new InterRent boss Brad Cutsey sees big things ahead for Ottawa-based REIT
Cutsey, InterRent's president since 2015, is taking over as chief executive from Mike McGahan, who’s stepping aside after 12 years at the helm.
Crown corporation says it hopes to sign a letter of intent with the preferred proponent in June, but wouldn't reveal if any of the pitches include plans for an NHL arena at the Flats.
The Ottawa-based real estate investment trust said its funds from operations – a key cash-flow metric – rose 12.3 per cent in the third quarter compared with a year earlier.
Ottawa-based firm said its funds from operations – a key cash-flow metric – rose 16.5 per cent compared with the second quarter of 2020 to $17.8 million.
Ottawa developer best-known for building and managing rental properties bought out Trinity Development Group's share of project last year.
Blueprint would see 4,000 housing units and nearly a million square feet of retail and office space built over the next 35 years at LeBreton Flats, along with more than 30 acres of parks.
Chicago-based firm has purchased a 47.5 per cent interest in development that will see a pair of 25-storey highrises constructed at the corner of Rideau and Chapel streets.
Developer is proposing a nine-storey mixed-use building that will incorporate the shuttered 1930s-era gas station at 70 Richmond Rd. into the design.
The proposed towers are part of Claridge’s East Flats project, which calls for up to five highrises that will include more than 1.5 million square feet of residential space.