GWLRA ready to take its fourth Livmore, in Ottawa, to market
26-storey, 336-apartment Livmore Westboro development the fourth for the firm's upscale brand
Don Wilcox, RENX
Mar. 18 2024
When GWL Realty Advisors brings its latest premium apartment building to the leasing market in Ottawa in the coming days, the 26-storey Livmore Westboro will be the result of a continuing evolution in the brand.
Livmore Westboro is located at the intersection of Scott and McRae streets in one of the most rapidly evolving areas of the National Capital Region. With its integrated tower, podium and low-rise townhome design, the property will deliver 336 housing units designed for a variety of demographics and family sizes.
According to GWL Realty Advisors’ vice-president of development Andrew Hollins and senior vice-president of residential Erica Penrose, the project will launch into a market ripe for new product. Vacancy is low across the city, all of the approximately 3,500 apartments delivered during 2023 were absorbed, and there is no “shadow market” to speak of due to high demand for rentals.
“We’re bullish on the lease-up just based on what the market demand is,” Penrose told RENX during a tour of the nearly completed property. She noted most of the multifamily stock in Ottawa is aging, so there is strong demand for well-located, amenity-rich new rental properties.
“Residents want to come up the quality curve and this building offers that,” she said.
Livmore Westboro will be the fourth Livmore to be delivered since the upscale brand was introduced in 2017. It follows two Livmore developments in Toronto (Bay and Gerrard, and High Park) and the first phase at Livmore Ville-Marie in Montreal.
The company is also developing Livmore buildings in Mississauga and Vancouver, and the Phase II tower in Montreal.
While the theme of the properties is consistent, each is designed to reflect the city and neighbourhood in which it is located.
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https://renx.ca/gwlra-ready-to-take-...tawa-to-market
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