The City of Ottawa has selected EBC Inc. as the winning bidder for the construction of Lansdowne 2.0, which is nearing a final decision at council. The total cost of the project has remained stable over the past two years, with the city anticipating increased revenue from the sale of air rights for two towers on the site, resulting in approximately $25 million more than initially projected.
Mayor Mark Sutcliffe held a press conference to discuss the project, highlighting the positive financial outlook for Lansdowne. The actual construction costs are now reported at $313 million, bringing the total project cost to $418.8 million, closely aligning with the previous estimate of $419 million in a 2023 report. The unexpected surplus from the air rights sale means that the net cost to taxpayers is expected to be $130.7 million.
EBC Inc., a Quebec-based company with experience in notable projects, including the Ottawa Art Gallery, has been named as the successful bidder for the construction of the new event center, north side stadium stands, city parking, and public realm enhancements. The report will be presented to the council’s finance and corporate services committee on Oct. 29, with a council vote scheduled for Nov. 7, marking the final opportunity for councillors to approve the project.
Mayor Sutcliffe emphasized the importance of proceeding with the project promptly to avoid increased costs associated with maintaining outdated facilities at TD Place. However, the project has faced opposition, with concerns raised about the financial risks and changes in seating capacity. Despite the criticisms, Sutcliffe defended the project, stating that it would bring significant benefits to the city in the long term.
The project’s financial model includes a combination of funding sources, such as debt, retail earnings, property tax uplift, and a ticket surcharge. The unexpected increase in revenue from the air rights sale has allowed for additional funding towards Lansdowne 2.0 and affordable housing initiatives. The preferred bidder for the air rights, Mirabella Development Corporation from Toronto, was also disclosed in the report.
Critics of the project, including Capital ward Coun. Shawn Menard, raised concerns about the project’s actual costs and long-term financial implications. However, Sutcliffe reiterated the success of the previous Lansdowne redevelopment and the potential for the new project to enhance financial sustainability.
Ottawa’s auditor general is awaiting further documentation to finalize an audit into the project, expected to be released early next month. The upcoming council vote will mark a crucial decision point for the future development of Lansdowne 2.0, with stakeholders closely monitoring the project’s progress.