CF starts construction on first Canadian residential rental
Real-estate developer Cadillac Fairview (CF) has announced the start of construction on its first residential rental projects in Canada.
Known as the Rideau Registry residences, the 288-unit building represents CF’s first major investment in a residential rental development in Canada. The building will be integrated with CF Rideau Centre, Ottawa's largest and busiest shopping mall.
In addition to a suite of rental apartments and amenities, the project calls for the transformation of Ottawa's 19th century City Registry Office into a modern café-bistro. The building will be seamlessly connected to CF Rideau Centre, providing access not only to stores, but also to public transit.
"CF's Rideau Registry residences will offer a rental product that is unique and will stand out as Ottawa's most-sought after address through innovative design and suite layouts, extensive amenities and professional management," said Wayne Barwise, executive vice president, Development, Cadillac Fairview. "Just as importantly, we're proud to continue contributing to the creation of a vibrant and connected community in downtown Ottawa."
Work on the rental residences at CF Rideau Centre is the latest phase of CF’s $360-million plan to revitalize the shopping mall and its surroundings. Work so far as included a four-level expansion, a new dining hall and a complete facelift including a range of enhancements and upgrades, new public art and a rebuilt pedestrian bridge over Rideau Street.
The redevelopment also introduced a new wing which incorporated the historic Ogilvy Building.
CF owns, operates, and manages more than $42 billion of assets across the Americas and the United Kingdom.
It Canadian portfolio comprises 68 properties, including the Toronto-Dominion Centre, CF Toronto Eaton Centre, Tour Deloitte, CF Carrefour Laval, CF Chinook Centre and CF Pacific Centre.