The article by David Sali of Ottawa Business Journal October 2nd:
"Firms behind Zibi project seek partner, float convention centre as ‘interesting’ idea for Gatineau land"
https://obj.ca/firms-behind-zibi-project...e-as-interesting-idea-for-gatineau-land/
"We know there’s a need for convention centre space in the Gatineau region,” he said, adding a hotel could also “make a lot of sense” if there’s demand for it."
Dream Impact (MPCT-UN.TO) owns 50% of Zibi. The focus is to remove land loans all all their projects, including Zibi.
They are just starting these 2 new buildings now, as they wanted to have assurance Common at Zibi and Aalto II were going to be fully stabilized and not over saturate.
The land sale should be a very material amount to MPCT, although no dollar amount is specified. It is only 10% of the land MPCT owns at Zibi. It makes a lot of sense as MPCT has no interest in building anything but purpose built rentals and some retail ground floor shops going forward. This sale will compliment the area and bring diversity to Zibi.
I could not see them building anything other than a complimentary building to the Zibi development, it wont be a competitive apartment or condos