The City’s Finance and Economic Development Committee today approved the purchase of a property at 1010 Somerset Street from the Government of Canada for $11 million, subject to final Treasury Board approval.
The City and Ottawa Community Housing would work together to build about 1,160 residential units across the site and on the adjacent parcel at 933 Gladstone Avenue – an area to be known as Gladstone Village. The residential units would include affordable and market rent housing. Of the purchase price, $8.58 million would be funded through a forgivable mortgage loan agreement with the Canada Mortgage and Housing Corporation. The total cost to the City would be $2.85 million. A condition of sale would include developing an agreement with the Algonquins of Ontario to explore the potential for future uses.
The Committee also received an update on the construction progress to extend the O-Train network farther south, east and west as part of Stage 2.
In the south, work is progressing at the Walkley Maintenance and Storage Facility and on multiple rail bridges, including across the Airport Parkway, Uplands Road, Lester Road, Leitrim Road, Bowesville Road, Earl Armstrong Road and Limebank Road. In the east, construction of support columns for the new rail flyover bridge between Blair and Montréal stations is nearing completion and work continues in all areas up to Trim Road. In the west, tunnel construction is underway, and crews are preparing to start work on highway interchanges at Pinecrest Road and Moodie Drive, with ramp closures set to begin in March.
Recommendations from today’s meeting will rise to Council on Wednesday, March 10.