Glebe parking lot set to become 90-unit affordable housing development
The city is transferring surplus land at 574 Bank Street to a non-profit for a nine-storey residential project.
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A vacant parking lot in the Glebe at 574 Bank Street—tucked behind the iconic Glebe sign at the Chamberlain Avenue intersection—is slated to become a nine-storey residential development with 80 to 90 units, 30 per cent of which will rent below market rates.
The city's finance and corporate services committee approved transferring a 690-square-metre portion of the lot to Centretown Citizens Ottawa Corp. (CCOC), a non-profit that builds and operates affordable housing across the city. Though the land is assessed at roughly $3.3 million, CCOC will acquire it for nominal value as part of the city's Municipal Land Strategy.
CCOC will partner with McDonald Brothers Construction on the project. The two organizations also own the adjacent commercial building at 578 Bank Street and plan to amalgamate both properties. CCOC will own and operate the residential units while 578 Bank Street Holdings will manage ground-floor commercial space.
The development represents CCOC's continued expansion. The non-profit currently owns and operates more than 50 properties across Ottawa and has built 51 new residential units in recent years at locations including Carruthers Avenue, Armstrong Street, and Forward Avenue.
Since the Municipal Land Strategy launched in 2024, city staff have advanced sixteen sites for non-profit housing redevelopment, signalling a broader effort to convert underutilized public land into affordable housing stock.