This project might be described as a tiptoe through the tulips in the nation's capital.
Ottawa is famous for its annual Canadian Tulip Festival, and the National Capital Business Park riffed on that with a project that emphasized naturalized landscaping and buildings showcasing colour accenting.
The project has been selected as the winner of the 2024 CoStar Impact Award for commercial development of the year in Ottawa-Gatineau as judged by a local team of real estate professionals familiar with the market.
Inspired by the tulip, the site's architecture and landscaping inject life into an otherwise grey environment instead of succumbing to a traditional design dominated by pre-cast structures.
The project was committed to sustainability, and several innovative features were included, including insulated metal panel exterior paneling to enhance energy efficiency and thermal insulation.
High Albedo roofs reflect sunlight, reducing heat absorption and energy consumption. All buildings are carbon neutral and designed to minimize their environmental impact.
The landscaping incorporates native and drought-tolerant plant species and a naturalized bio-swale effectively manages flooding and water, showcasing a comprehensive approach to sustainable development.
The project includes 36% parking lot tree coverage at mature growth, and the planting of 2,500 trees contributes to the overall environmental well-being. Electric vehicle charging stations, recycling and composting areas, and bird-friendly glass further underscore a commitment to a green and eco-friendly business environment.
In a commitment to mobility innovation, the site included the development of a new public and private road, including Last Mile Drive and Logistics Private, and the introduction of a signalized intersection on Hunt Club Road to enhance highway accessibility, improving overall traffic flow.
Anticipating the park's growth, provisions for new bus stops have been planned in collaboration with the city of Ottawa. Dedicated bicycle parking spaces for each building cater to alternative transportation needs, promoting a holistic approach to mobility.
With an eye on new uses and diverse tenants, the industrial park is expected to serve as a hub for traditional activities and to embrace diversity in tenants with a range of businesses, from construction and food packaging suppliers to logistics companies. It's all an effort to create a dynamic and multifaceted community within the development.
The collaboration with the National Capital Commission was a cornerstone of the development. The project leased land from the federal Crown corporation, creating a public-private partnership.
With the NCC known for hosting that same tulip festival, the marketing strategy integrated the local cultural fabric into the project. Tulip-inspired elements were woven into the park's logo to pay homage to the city's heritage and create a distinctive and memorable identity for the development.
A crucial aspect of the project was innovative financing, with construction loans strategically established on a subdivision of a head-ground lease. This process circumvented the need for planning act consent, which can take up to a year.
The groundbreaking financing model decreased construction time and garnered acclaim for the construction lender and legal counsel. The ingenuity of the construction loans was deemed so innovative that the project's legal counsel received an award for the financing structure, underscoring.
About the Project: The developer, Avenue31 Capital Inc. and the architect, Ware Malcomb, worked together on the project, which included three buildings to date with multiple configurations for one of the remaining sites.
What the Judges Said: "Provides much-needed supply to our market," said Nick Pantieras, senior managing director of investments of Institutional Property Advisors, a division of Marcus and Millichap.
They Made it Happen: Michel Pilon, CEO, Barry McKibbon COO, and Ryan Semple, director of business development at Avenue31 Capital Inc.