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Avison Young unveils Ottawa’s only residential lands ready for development near rapid transit, as housing shortage persists
October 23, 2023
Falcon Ridge Village offers live-work-play vision, 30 minutes from downtown
Ottawa, Ontario – Global commercial real estate advisor, Avison Young, announces the launch of Falcon Ridge Village – a once-in-a-generation opportunity to develop the largest development lands currently available in Ottawa. The property is uniquely situated adjacent to a newly completed transit station along the city’s newly constructed north-south Light Rail Transit (LRT) corridor.
“The implementation of LRT is transformative for Ottawa, and the City’s new Official Plan has prioritized 15-minute communities to complement this,” says Gillian Burnside, Vice President, Avison Young. “The proposed Falcon Ridge Village is ideally situated to meet and accommodate the unprecedented growth that is anticipated for Ottawa.”
Positioned as a transit-oriented 15-minute community in Ottawa, Falcon Ridge is ideally located for residential and mixed-use development adjacent to the Bowesville Transit Station. The adjacent future employment and commercial lands, totaling 169 acres, are directly across from the $350M investment in the Hard Rock Casino and Hotel. This provides the catalyst for future entertainment options and further economic activity in the area.
For sale is a total of 163.48 acres of residential and mixed-use development land, with a total development potential of approximately 8.5 million square feet. The conceptual plan for the village captures the key walkable, inclusive, and safe elements that define today’s modern communities. The adjacent employment lands provide for ample commerce, amenities, and entertainment options, offering the expansiveness and excitement of communities like Pickering’s Durham Live, Toronto’s Downsview Park, and Innisfil’s The Orbit.
“This site offers a modern, multi-purpose, diverse, 15-minute community lifestyle – a lifestyle which generates environmentally-sound benefits,” says Barry Nabatian, Urban Economist. “I have more than 40 years of experience in real estate developments, mostly in Ottawa, and there is no better site than what has been chosen for the Falcon Ridge Village.”
The proposed Falcon Ridge Village aligns with the policies adopted by City Council in their approved Official Plan. The village offers mixed use, including a variety of housing typologies, such as single-family townhomes, multifamily homes, and Transit-Oriented Density (TOD) homes. The village will have an extensive rental market component which benefits from the recent tax incentives introduced by the federal government, those currently proposed by the province, as well as by the development incentives proposed under Bill 23.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2023 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 12 consecutive years.