The Ottawa Senators hockey team is set to become the new owner of a development site in LeBreton Flats, a downtown property the team has long sought as the site of a future arena and mixed-use development.
Capital Sports Development Inc., a company led by the owners of the NHL's Senators, and the National Capital Commission, or NCC, said this week they "signed an agreement of purchase and sale for land parcels totalling approximately 11 acres at LeBreton Flats."
The deal has been in the works for at least three years after the two sides signed a memorandum of agreement in 2022 and both sides confirmed the plan before it expired in September.
"This agreement builds on the two previous real estate transactions completed by the NCC since 2022 on the Building LeBreton project that will see over 2000 new housing units along with new retail and commercial spaces built on the site," NCC CEO Tobi Nussbaum said in a statement.
Under the agreement, the new NHL hockey arena and events venue would be located on Albert Street, between City Centre Avenue and east of Preston Street as part of the LeBreton Flats Master Concept Plan.
Neither side disclosed the dollar amount of the transaction, but NHL sources reportedly told sports journalist Bruce Garrioch the agreed-upon price is just over $30 million.
The ownership group of the Senators said they aim to build "a major events centre and arena district" that would include mixed-use development. "With the agreement of purchase and sale finalized, both parties can proceed with next steps in the project," Capital Sports Development and NCC said in a joint statement. "These include zoning, design and approvals, as well as decontamination of the land parcels to prepare for construction."
The Ottawa Senators would become the latest Canadian NHL team to build an arena district in recent times, as the Edmonton Oilers owners have spent years building what is known as the ICE District.
Edmonton's provincial rivals, the Calgary Flames, are also working on building a new arena and adjacent entertainment district on land near the current arena.
The Ottawa Senators hockey club is owned by a group led by Michael Andlauer, a trucking magnate who was born in France and grew up in Montreal before making a fortune in Toronto. The Andlauer ownership group purchased the Ottawa Senators in June 2023 for almost US$1 billion and carried on a longstanding initiative to move the team from suburban Kanata to the downtown area, a plan also explored by the team's previous owner, Eugene Melnyk, who died in 2022.
However, the Senators hockey team noted that goalies, forwards and defencemen will not be hauling their sticks and skates to a new arena in the near future.
"There are still many more hurdles to clear and we look forward to working with the NCC and other stakeholders to achieve our shared vision of creating an event centre at LeBreton Flats that can be enjoyed by our Ottawa-Gatineau community," Senators President and CEO Cyril Leeder said in a statement.
The National Capital Commission is a crown corporation that owns 11% of all lands in the National Capital Region, an area centred in Ottawa.
“The promise of a major events centre will provide a lively and convenient attraction for residents and visitors, inject new energy and excitement into the core of the Nation’s Capital and further catalyze the development of LeBreton Flats," the NCC's Nussbaum said.