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NCC board approves development concept for LeBreton Flats


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The National Capital Commission board of directors on Thursday approved the final concept plan for LeBreton Flats and learned the identities of three development teams competing to build the first part of the modern-day redevelopment of the key federal site.
The concept plan sets the development areas and parkland that will be established over 35 years on the 29-hectare land. The mixed-use plan estimates about 7,500 people will live in homes at the redeveloped LeBreton Flats at full build-out, with 12.5 hectares of land dedicated to park space. Twenty-five per cent of homes will be considered affordable.
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NCC board endorses LeBreton master plan, names shortlist of developers for library lands


The NCC’s board of directors gave the green light Thursday to the final master concept plan for LeBreton Flats and revealed the three groups that have been shortlisted to build out the first major parcel of land at the prime development site west of downtown. 
The agency’s master plan 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.
The blueprint calls for four distinct “districts,” including a mixed-use neighbourhood near Albert Street that would be anchored by the future home of the Ottawa Public Library and could also feature a “potential event centre,” according to a 175-page document outlining the plan. ....

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InterRent REIT says 'strong balance sheet' has it primed for 2021 bounceback


InterRent REIT says its books remain in good shape after a tumultuous year that saw the overall vacancy rate at the firm’s properties nearly double in the wake of the pandemic.
In its 2020 financial filings released this week, the Ottawa-based real estate investment trust said its funds from operations – a key cash-flow metric for REITs – rose nearly 11 per cent last year to $56.7 million. 
The company also boosted the size of its portfolio substantially in 2020, acquiring 880 suites as its total inventory surpassed 11,000 units. The additional cash flow from those properties helped bolster InterRent’s balance sheet as the vacancy rate across its portfolio jumped to 8.7 per cent, up from 4.4 per cent in December 2019. ....

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