Ontario Construction News staff writer
OTTAWA – Construction is underway on the first phase of a massive residential intensification project at the corner of Fisher Avenue and Baseline Road, following a major federal funding injection in October.
Theberge Homes has broken ground on the 24-storey tower at 1350 Fisher Ave., the first of three planned high-rises for the site. The initial phase will bring 316 new rental units to the market, addressing the capital’s urgent need for purpose-built rental housing.
The project is moving forward with a construction value of approximately $98 million, according to figures released by Vuze Construction, the project’s construction manager.
Work on the site accelerated after the federal government announced a $136.5-million low-interest loan in mid-October 2025 through the Canada Mortgage and Housing Corporation’s (CMHC) Apartment Construction Loan Program.
“We are proud to announce our partnership with the federal government on a landmark, multi-phase project,” Joey Theberge, president of Theberge Homes, said in a statement following the funding announcement. “This initiative will redefine urban living and set a new standard for sustainable high-rise development in our nation’s capital.”
A multi-phase vision
While excavators are currently focused on the Fisher Avenue site, the broader vision for the property—historically known as 780 Baseline Rd.—is significantly larger.
When fully built out, the development will feature three towers ranging from 24 to 32 storeys, delivering a total of approximately 1,089 residential units and 31,000 square feet of commercial space.
The project represents a strategic pivot for Theberge Homes, which has traditionally focused on low-rise communities, towards high-density, transit-oriented rental developments.
Federal support for supply
The substantial federal backing highlights the project’s role in meeting national housing targets. The $136.5 million loan covers more than just hard construction costs, supporting the “soft costs” and financing required to make the rental numbers work in a high-interest environment.
“It’s time to build,” said Jenna Sudds, MP for Kanata–Carleton and Minister of Families, Children and Social Development, at the project’s funding announcement. “Far too many Canadians are struggling to find homes they can afford. This project will create much-needed rental homes for the people living and working in Ottawa.”
Overcoming opposition
The path to construction involved a contentious approval process. The site sits directly across from the Central Experimental Farm (CEF), a national historic site and active research facility.
During the zoning approval process in early 2024, officials from Agriculture and Agri-Food Canada raised alarms that shadows cast by the proposed towers could compromise long-term crop research. Despite these objections, Ottawa City Council voted to approve the development, prioritizing housing intensification along key transit corridors over the potential impact on the farm’s research plots.
With zoning secured and financing in place, the Fisher Avenue tower is set to rise, marking a significant change to the skyline of Ottawa’s inner suburbs.
Project at a glance
- Developer: Theberge Homes
- Construction manager: Vuze Construction
- Location: 1350 Fisher Ave. (Phase 1); 780 Baseline Rd. (Future Phases)
- Phase 1 scope: 24 storeys, 316 rental units
- Phase 1 construction value: ~$98 million
- Federal funding: $136.5 million (CMHC Loan)
- Total project scope: 3 towers (approx. 1,089 units total)
