Canada Lands Company Confirms Acquisition of Landmark Site in Ottawa
Current Size: 100%
Source: Canada Lands Company
Location: Toronto, Ontario
May 9, 2011 -- Canada Lands Company CLC Limited (CLC) today confirmed that it has acquired the 310-acre (125 hectares) former Canadian Forces Base Rockcliffe in Ottawa, Ontario, which it purchased from the Department of National Defence (DND). The sale was made possible after discussions and cooperation among DND, Indian and Northern Affairs Canada, the Algonquins of Ontario (AOO) and CLC.
“This transaction has its complexities requiring much work and partnerships between many parties in order to arrive at where we are today. CLC is very pleased with the outcome and the opportunity to work with the City of Ottawa and its citizens, the development industry and the AOO to realize a signature redevelopment project in the National Capital Region”, said CLC President and CEO Mark Laroche.
CLC and the AOO have entered into a Participation Agreement, the core commercial element of which is a commitment on the part of CLC to offer certain blocks or lots for sale to the AOO at their fair market value up to an aggregate value of ten million dollars representing part of an anticipated Treaty settlement which is pending. This offering will occur after all planning approvals are in place and as phases of the redevelopment are rolled out by CLC.
The acquisition of development lands by the AOO represents a business opportunity for the AOO as well as an opportunity to incorporate within the development cultural and historical messages important to the Algonquins. Any land acquired and developed by the AOO will comply with the approved plan and all design or sustainability guidelines imposed by CLC on builders. This agreement represents a win-win solution for all parties, and enabled the acquisition and the planning and development of the property to move forward.
The site is located on an escarpment in the eastern part of the city. It boasts panoramic views of the Ottawa River and Gatineau hills and sight lines to the Peace Tower.
The property has deep roots as a former military site. In 1899, the Department of National Defence established the Rockcliffe Rifle Range. Many Canadian soldiers received their training at Rockcliffe. From the 1920s onward, the base's main vocation was military aviation. All DND activities on the site ended in 2009.
The company will now undertake a development process of the site, beginning with assembling a team of professionals. CLC looks forward to renewed consultations with the community and the City to create a vibrant mixed-used sustainable neighbourhood. More will be said about this as CLC’s development team and the consultation process takes shape over the coming months.
CLC is an arm’s length and self-financing federal Crown corporation. The company purchases federal properties at fair market value, and then improves and sells them to optimize the financial and community value. The company also owns and manages select properties such as the CN Tower, in Toronto. To learn more, please visit
www.clc.ca.