Lansdowne 2.0 price tag jumps to $419.5 million
CTV
The price tag for the redesigned Lansdowne 2.0 has increased by $87.5 million, while the new plans scrap one of three proposed residential towers on the property in the Glebe.
The price tag for the redesigned Lansdowne 2.0 has increased by $87.5 million, while the new plans scrap one of three proposed residential towers and scales back retail space on the property in the Glebe.
The Ottawa Sports and Entertainment Group unveiled plans last year to tearing down and replacing the north side stands at TD Place Stadium, build a new 5,500-seat arena outside the east end of the stadium and construct residential towers.
City staff held a media briefing Friday to outline the updated Lansdowne 2.0 plan.
The price tag for the project has increased $332 million to $419.5 million, due to inflation and rising interest rates. The report shows the cost of the new event centre has increased from $183.5 million to $249.6 million, while the north side stands will cost $169.5 million, up from $139 million last year.
The plan now calls for two residential towers, 25 and 40 stories, with a maximum of 770 residential units. The previous plan called for three towers of 29, 34 and 40 stories with 1,200 units.
"I promised to listen to the community and there were a lot of concerns about that third tower, how much density it was creating, how tall it was, how much it was distracting from the Aberdeen Pavilion, so we took that out," Mayor Mark Sutcliffe told Newstalk 580 CFRA's The Morning Rush with Bill Carroll.
The 2023 Lansdowne 2.0 concept calls for 336 residential parking spaces, 35 parking spaces for the event centre, 27,900 sq. ft. of new public realm and 49,000 sq. ft. of retail space (down from 108,000 sq. ft. of retail).
