Ottawa Real Estate Forum John Smit BES MCIP RPP Manager, Policy - - PowerPoint PPT Presentation

Ottawa Real Estate Forum

John Smit BES MCIP RPP Manager, Policy Development and Urban Design

Discussion Topics

• Official Plan Policy Thrust & Development Trends
• Impact of Transit Corridors – Confederation Line
• Reshaping our Suburbs

Official Plan Policy Thrusts

Holding the Urban Boundary Efficient Use of Land Intensification Nodes,Corridors,TODs Mixed Use High Quality Design

Schedule B – Urban Land Use

2014 Shares of Residential Unit Starts

• Apartments continue to constitute the largest proportion
• Single-detached continue to make up a smaller proportion

Singles 29% Semis 5% Rows 30% Apts 36%

Housing market trends

Intensification focus

36% 38% 40% 42% 44% 5-yr avg 39% 3-yr avg 52% 0% 10% 20% 30% 40% 50% 60% 2007 2012 2017 2022 2027 2031

New Units Intensification %

OP 5-yr Targets Units Built

In 2014, 63% of intensification units have been locating within OP Target Designation Areas

The Confederation Line

Transit Oriented Development

TOD MAP

Developments Within LRT & O-Train Catchment Areas

Looking forward – 2013 tmp

DENSITY CLUSTERS - OTTAWA EASTWARD

10

St Laurent

Tremblay Lees

uOttawa Parliament

Lyon

Rideau

Cyrville

Orleans ?

Blair

Orleans ?

Hurdman

DENSITY CLUSTERS - OTTAWA WESTWARD

11

Pimisi

Bayview

Lyon

Parliament

Tunney’s

Westboro?

Lincoln Field

DENSITY CLUSTERS - OTTAWA SOUTHWARD

12

Carling

Heron

South Keys

Carleton U

Airport?

Trillium Line

Impact of the LRT on Real Estate

Key Questions

How will the LRT impact development? What are influences on LRT-adjacent lands? What are the economic implications on sale prices, rental market, vacancy rates, appraised values? How will these changed economic metrics impact the location of future developments? Working with City’s Planning, Transportation and Real Estate departments, how can better development

• utcome be achieved?

The LRT effectively brings complimentary uses closer together - It’s a powerful catalyst of and for change

Retail Proximity Workplace Synergies HOTELs - OCC Synergies

Key Take-Aways

First stages of LRT are by nature, reactive, i.e. built to serve existing and growing population centres Property owners who anticipate growth and proactively align their planned developments to the LRT network have the opportunity of creating great value uplift Confederation line will be one of the biggest game-changers for Real Estate in Ottawa, for decades to come! (intensification & location) It will transition Ottawa from small city to big city Station designs will be spectacular landmarks and be catalysts for place making! How will the LRT impact the value of your clients’ future development sites? What are the commercial real estate opportunities for you that will be triggered by the LRT?

VISION “The principles of good urbanism should apply to the suburbs as they do to other parts of the City”

• Plan suburbs as complete communities
• Convenient for residents and land efficient for buildings
• Design for transportation, housing, employment, shopping, education, recreation and

social life.

Principles “Design, Live, Move, Use”

Our suburbs will be...

• Affordable
• Long-term operations and maintenance
• Upfront investment = Long-term gain
• Land Efficient and Integrated
• Easy to Walk, Bike, Bus or Drive
• Well Designed and Sustainable

Building Better & Smarter Suburbs

Building Better & Smarter Community Plans Building Better & Smarter Streets

• Street Network and Land Use
• Parks and Open Space
• Stormwater Management
• School Sites
• Parking
• Road Right-of-Way
• Rear Lanes
• Trees
• Utility Placement

Patrick Meeds Managing Director New Home Division PMA Brethour Realty Group

• 1. What are some of the key projects in all asset

classes that are underway or being planned?

• 2. How much growth is occurring and where?

Development Trends and Activity in Ottawa

• 5,000

10,000 15,000 20,000 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Resale New Home

Housing Market Sales|2000-2015

*2015 data based on estimated number

*

Total New Home Sales|2000-2015

2,000 2,500 3,000 3,500 4,000 4,500 5,000 5,500 6,000 6,500 7,000 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 *

*2015 data based on estimated number

Sales By Area (%)|2000-2015

10% 15% 20% 25% 30% 35% 40% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

East Central South West

Sales By Product (%)|2000-2015

0% 10% 20% 30% 40% 50% 60% 70% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Singles Freehold Town C.Mid/High rise Condo.Other

Mid-High Rise Projects and Average Sales|2005-2015

10 20 30 40 50 60 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015*

Number of Projects

• Avg. Sales Per Project

*2015 YTD August