Trinity to break ground on $400M Albert Street skyscraper project in coming days
December 4th, 2019
Preliminary work on constructing the tallest towers in Ottawa is slated to start by the end of the month, according to the lead developer behind the project.
Trinity Developments is planning three mixed-use towers of between 50 and 59 storeys at 900 Albert St., across from the Bayview O-Train station near the north end of Preston Street.
Speaking at the Ottawa Real Estate Forum last week, Mark D’eon – Trinity Development Group’s senior vice-president of leasing – said the firm hoped to break ground in the coming days.
“We hope to start shortly,” he told OBJ on the sidelines of the conference.
Mr. D’eon said Trinity Centre at Bayview Station will be the largest development project in the company’s history.
Utility relocation to be completed by June
The first step in the development is to relocate several municipal water and sewer lines that crisscross the property at a cost of $10.71 million.
Ottawa general contractor Doran Construction will be tasked with this job, which Trinity says is scheduled to wrap up by June 2018.
That would clear the way to start constructing the three towers, which would contain a total of 200,000 square feet of office space, 130,000 square feet of retail and some 1,400 residential rental units.
Mr. D’eon said there would be a direct pedestrian link from the retail podium to Bayview Station, which will service both the north-south Trillium Line as well as the east-west Confederation Line.
On the residential side, Mr. D’eon highlighted the success of Ottawa’s LIV apartment complex as a model for Trinity Station.
Several years ago, CLV and InterRent REIT – which purchased a $14.2-million stake in Trinity Station over the summer – purchased the rundown rental buildings on Bell Street, near Bronson and Gladstone avenues, and repositioned the property with upscale amenities such as a gym, rooftop terrace and pet spa.
“The residential (component) needs to be something spectacular,” Mr. D’eon said.
Trinity said the timeline for the overall project has not yet been determined.
A recent city report – prepared in support of an application by the developers for $8.26 million in grants over 10 years to offset the costs of cleaning up contamination on the site – put the overall construction cost of the project at $400 million.
A Trinity spokesperson confirmed the cost is “within this range.”
Courtesy of: Ottawa Business Journal; Peter Kovessy, Ottawa
Published: October 24, 2017