A newly constructed luxury apartment building located in West Ottawa has been sold for $48.7 million by Lépine Corporation to a joint venture partnership between Killam Properties, KingSett Capital Inc. and AIMCo Realty Investors LP.
Kanata Lakes Apartments II sold for an average of $320,000 per unit. Suites within the complex average 85.5 square metres (950 square feet) and rent for an average of $1,785 per month. The building is located at 1025 Canadian Shield Ave. and features 129 one-bedroom and 23 two-bedroom units.
“My client recognized the need for an upscale rental complex with the population in Kanata growing rapidly,” says Derek Lobo, President and CEO of ROCK, who brokered the transaction. “Kanata is ideal for young professionals who work in the surrounding high-tech sector, as well as for couples who want to downsize.”
More than 90 per cent of the apartments — which feature open-concept floor plans, condominium-style high-end kitchens, baths, flooring and fixtures, energy-efficient appliances, washer and dryer, central heating and cooling systems, smart electricity meters, landscaped green roofs and public penthouse floor terraces with barbecues, tables and loungers — are occupied.
A 196-stall underground parking lot connects to all buildings and includes energized stalls for electric vehicles, storage lockers and a bicycle room. The property features 24/7 security monitoring and a live-in superintendent.
William’s Court Kanata Lakes Apartments also includes residences at 1175 Maritime Way and 1047 Canadian Shield Ave. as well as a fully equipped, two-storey, 1,620-square-metre (18,000-square-foot) clubhouse featuring an indoor saltwater pool, state-of-the-art fitness centre with full-time staff and leisure facilities including a spa-inspired lounge areas for tenants. Nature paths with an outdoor fitness circuit connect buildings and a central courtyard with a multi-station play structure.
Small retail and restaurant locations and two more residences will be part of future development on the site. The Kanata Centrum Shopping Centre is two blocks west of the property while Kanata Town Centre is just south of it on the other side of Highway 417.
