Ottawa's new billion dollar waterfront development
The Domtar lands straddling Gatineau and Ottawa will be home to a massive new billion dollar development which will include a hotel, parks, 15 storey condos, commercial and retail stores. "It's huge," says Rodney Wilts of Windmill Developments. "I think we're filling the hole in the donut, right? This is right in the heart of the national capital region."
Windmill Development Group announced today that it's forging ahead with the redevelopment of the industrial lands in partnership with Toronto based real estate company Dream Unlimited Corporation.
The 40-acre Ottawa River redevelopment will be will be named Zibi which means river in Algonquin. "I think that in all it will have a positive in terms of people talking about the history," says Patrick Henry who came up with the name. Zibi was chosen out of 200 names submitted through a contest.
Ottawa Mayor Jim Watson says the redevelopment of the Domtar lands is a key city building initative for the capital region. "After years of really dithering and not a lot of activity on this site we're finally seeing what I think is going to be a renaissance," said Watson.
Construction on Phase 1 of the project is expected to start in the spring.
The main Domtar building will be transformed into commercial and retail space.
Most of the development will take about 15 years to complete.
Windmill promises to build a world-class sustainable community on lands which include the historic Chaudiere Falls.