Projects Update

In our last update, we shared that the Upper Ottawa project was advancing through a redesign in response to market conditions. Since then, the rental market analysis and feasibility study have informed further refinement of the project, with the design continuing to be developed to improve efficiency, incorporate value engineering, and align with updated requirements for unit mix, amenities, commercial space, and parking.

The revised strategy continues to focus on the proposed relocation of the existing Tim Hortons building to the neighboring plaza at 1119 Fennell Ave E. Discussions between Tim Hortons and the adjacent plaza ownership remain ongoing, with Elite facilitating efforts to finalize relocation and lease terms. In parallel, the architect’s targeted service scope is currently under review and being refined by Elite to support the upcoming resubmission.

These efforts are focused on resolving outstanding items and positioning the project for the next phase of approvals, which we hope to receive in the new year.

Upcoming Milestones:

Site Plan Resubmission: Q1 2026
Existing Tim Horton's Building Relocation Agreement: Q1 2026

Timeline:

Official Plan Amendment: July 11, 2023
Zoning By-law Amendment: July 11, 2023
Draft Plan of Subdivision Conditional Approval: N/A
Draft Plan of Subdivision Approval: N/A
Site Plan Conditional Approval: January 19, 2024
Site Plan Complete Approval: Q3 2026
Building Permit Issued: Q4 2026

All projected timelines are indicative and reflect current market conditions and planning assumptions. As with any development project, these estimates remain subject to change due to evolving regulatory, market, and construction environments. Accordingly, dates should be considered as targets rather than definitive deadlines.