The Federal Government of Canada has entered into a 15-year lease agreement for approximately 158,000 square feet of office space within the Zibi development in Ottawa. Zibi is a partnership between Dream Unlimited, Dream Hard Asset Alternatives Trust and Theia Partners, owned on a 40/40/20 per cent basis, respectively.
The feds will be the lead tenant within Zibi’s first Class A building located in the heart of the development, along the Ottawa River fronting on both sides of Gatineau, Quebec and Ottawa, Ontario.
According to the press release, the 34-acre community will be Canada’s only endorsed One Planet Community, which focuses on sustainability, a zero-carbon footprint and community and culture. Upon completion, Zibi is expected to be Canada’s most sustainable neighbourhood and will comprise over 4 million square feet of residential and mixed-use space. In addition to this building, there is over 450,000 square feet of retail and commercial space in various planning/development stage.
“Our team is very pleased to welcome the Federal Government to Zibi,” said Michael Cooper President & Chief Responsible Officer in the press release. This is a tremendous opportunity to build and deliver a best in class office building in the very heart of the National Capital Region. We are committed to providing an exceptional workplace that values environmental stewardship, outstanding design and community.”
The eight-storey building is expected to be completed in late 2020.