NCC signs lease agreements with two developers for part of LeBreton Flats
The National Capital Commission (NCC) says it has reached an agreement with two developers to build hundreds of homes in Ottawa’s LeBreton Flats.
The commission selected developers Avenue 31 Capital Inc. and Cogir for the development of four parcels of land in the Flats District neighbourhood.
The companies will plan to develop 1.63 hectares of land to build more than 900 homes, including affordable residential units and units with at least three bedrooms. The net-zero-carbon buildings will sit in a neighbourhood of pedestrian-friendly streets with transit and active transportation as the preferred modes of travel and will connect to a future district energy system.
The announcement marks a significant milestone in the development of the third phase of the LeBreton Flats project.
The next steps in the project will see the NCC engage in lease negotiations with the developers, who in turn will perform their own due diligence, including advancing design work for the development. Design for the Flats Phase development will be subject to the federal land use and design approval process.
The NCC and Avenue 31 Capital Inc./Cogir will aim to enter into a lease agreement by late 2024.
Construction of roads and buildings in the Flats Phase will begin following municipal approval of the NCC’s plan of subdivision, which is targeted for late 2025.
“I’m excited for this important step in the implementation of our Building LeBreton plan,” said NCC CEO Tobi Nussbaum. “We look forward to working with Avenue 31 Capital Inc. and Cogir towards the shaping of the Flats District, an important gateway to LeBreton Flats.”
The site is located on the edge of Ottawa’s downtown, only two kilometres from Parliament Hill and within a 10-minute walk from two light-rail stations (Pimisi and Bayview) on the O-Train Confederation and Trillium lines.