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

Housing market trends 2014 Shares of Residential Unit Starts • Apartments continue to constitute the largest proportion • Single-detached continue to make up a smaller proportion Rows Apts 30% 36% Semis 5% Singles 29%

New Units Intensification % OP 5-yr Targets 3-yr In 2014, 63% of 60% Units avg 52% intensification units have 5-yr Built 50% Intensification focus avg 39% 40% been locating within OP 30% Target Designation Areas 44% 42% 20% 40% 38% 36% 10% 0% 2007 2012 2017 2022 2027 2031

The Confederation Line

Transit Oriented Development

TOD MAP Developments Within LRT & O-Train Catchment Areas

Looking forward – 2013 tmp

DENSITY CLUSTERS - OTTAWA EASTWARD Orleans ? Orleans ? Blair Cyrville St Laurent Tremblay Rideau Lees uOttawa Hurdman Parliament Lyon 10

DENSITY CLUSTERS - OTTAWA WESTWARD Lincoln Field Westboro? Tunney’s Bayview Pimisi Lyon Parliament 11

DENSITY CLUSTERS - OTTAWA SOUTHWARD Airport? South Keys Trillium Heron Line Carleton U Carling 12

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 outcome 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?

Building Better & Smarter Suburbs 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 Building Better & Smarter Community Plans Streets • Street Network and Land Use • Parking • Parks and Open Space • Road Right-of-Way • Stormwater Management • Rear Lanes • School Sites • Trees • Utility Placement

Development Trends and Activity in Ottawa 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? Patrick Meeds Managing Director New Home Division PMA Brethour Realty Group

Housing Market Sales|2000-2015 20,000 15,000 Resale New Home 10,000 5,000 - * 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 *2015 data based on estimated number

Total New Home Sales|2000-2015 7,000 6,500 6,000 5,500 5,000 4,500 4,000 3,500 3,000 2,500 2,000 * 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 40% 35% 30% East Central South 25% West 20% 15% 10% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Sales By Product (%)|2000-2015 70% 60% 50% Singles 40% Freehold Town C.Mid/High rise 30% Condo.Other 20% 10% 0% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Mid-High Rise Projects and Average Sales|2005-2015 60 50 40 Number of Projects 30 Avg. Sales Per Project 20 10 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015* *2015 YTD August