Posted Aug 19, 2026, 4:10 PM
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Moderator
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Join Date: Mar 2012
Location: Ottawa
Posts: 28,943
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Quote:
Originally Posted by lrt's friend
I am glad to see a real improvement for our downtown area. Now, let's find something great for the old Freiman building. If we do things right, we could finally tremendously upgrade the Rideau corridor.
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Here's the latest:
Quote:
CBRE Finds Buyers for Hudson’s Bay Buildings Across Canada
July 28, 2026
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Bought by a Local Homebuilder In Ottawa
In the nation’s capital, the Hudson’s Bay building on Rideau Street in Ottawa’s ByWard Market area was purchased by Claridge Homes, a local developer.
CBRE’s NIT-Ottawa point man Nico Zentil, working with Jamie Boyce, ended up securing the ideal buyer for the property in Claridge Homes. “A local buyer, a local developer,” Zentil says. “It was the best possible outcome in this case.”
Claridge has developed over 14,000 properties, most of them in the National Capital Region, including the city’s tallest residential building, the Claridge ICON, a 45-storey tower.
CBRE’s marketing materials noted that the property, which is attached to CF Rideau Centre by a skywalk, provides “a generational repositioning / redevelopment opportunity offering scale, diversity and cachet – making this one of Ottawa’s most exciting community building opportunities in the city’s history.”
Zentil says the deal was complicated by the fact that the property consists of three separate parcels, two of which are freehold and one is on a long-term land lease with the City of Ottawa. “There were lots of different historical legacy agreements with the City that had to be renegotiated.”
While Claridge has not made its plans publicly known, Zentil says the building likely will be part of a full mixed-use redevelopment. “There is a 60,000 sq. ft. site there, so they'll be able to do something significant.”
“It's a pretty unique site, which is why we had so many people looking at it with great interest.”
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https://www.cbre.ca/insights/articles/cbre-finds-buyers-for-hudsons-bay-buildings-across-canada
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