S'abonner à PMML | Insights

Actualités du marché envoyés à chaque semaine

En vous inscrivant au blog PMML, vous restez dans l’action et acceptez d'être tenu au informés des dernières tendances du marché pour maximiser le rendement de vos investissements immobiliers.

Real estate development on the LeBreton flats

The National Capital Commission (NCC) recently finalized an agreement with developers Avenue 31 Capital Inc. and Cogir for the development of 900 units on the LeBreton Flats. These two companies, based respectively in Montreal and Ottawa, will have at their disposal four parcels of land totaling 1.63 hectares in the LeBreton Flats area, to develop multi-residential properties. These lands were coveted because of their potential to revitalize the area.

As part of this ambitious project, the building design must integrate a sustainable approach at all levels, including the choice of materials and energy sources, to ensure the achievement of the carbon neutrality objective. At least 15% of the housing units must offer three bedrooms or more, which will promote resident diversity and meet the needs of families.

The realization of this large-scale project includes not only a sustainable approach in building design but also a strong support for the Algonquin Anishinabeg community. This is manifested by the awarding of five development contracts to Anishinaabe businesses, a commitment to employ 5% of workers from this community, and the creation of five training opportunities specifically for them.

Currently, Mr. Nussbaum, representing the NCC, has not been able to provide a precise estimate of the costs of the agreement with Cogir and Avenue 31, as discussions and negotiations of the terms are ongoing and confidential. The official agreement detailing the terms of the lease between the developers and the NCC is expected to be finalized by the end of 2024. Then, construction of the housing units could begin after the approval of the subdivision plan, expected by the end of 2025.