Ottawa Zoning Changes to Provide Excellent Opportunities for Investors

 

It has recently been announced that a proposal for a long-due update to the city’s zoning rules surrounding its R4 zones will finally be taking place. For those unfamiliar with zoning, it is simply the distribution of land into areas called zones. This method of urban planning helps to establish rules and regulations in regard to new developments that are specific to one area(zone), and can differ greatly from one to another. The R4 zones were originally put in place as an answer to illegal rooming houses in some particular downtown Ottawa neighbourhoods. It has since become evident that the need for more available, affordable housing exceeds the issues imposed by the potentiality of any illegal rooming houses.

The new zoning changes would border Westboro to the west, to Blair to the east, and extend south to the Rideau River. With the proposed policy changes, there will now be room and allowance for an eight-unit building on a 12-meter wide lot, a twelve-unit building on a 15-meter-wide lot, and large lots up to 38-meters wide will not be capped at any number of units. These changes are excellent news for investors and developers, as they would now have the allowance to build new apartments, or renovate existing low-rise buildings in the heart of Ottawa.

The new zoning regulations would also have a trickle-down effect of benefits on the environment, economy, communities and residents alike. The changes to these zones in particular will introduce affordable housing and higher population density in the cities existing urban neighbourhoods, while decreasing traffic emissions, and increasing the number of people living in areas with high walkability scores. These already sought out neighbourhoods will be more desirable for residents and businesses alike, as amenities are plentiful, and public transit is highly accessible.

While the committee members have already given their nod of approval, the final word will come from City Council. We are very excited to see what Ottawa will look like once these changes are made, and are optimistic that more changes to increase density throughout the city will follow in the coming years. The future of Ottawa is looking fantastic, and we can only imagine what is in store for its residents, investors, and developers in the coming months and years, and are excited to watch as this new chapter begins to unfold.