New York-based Common announced plans to open a 24-storey, 252-bed rental housing complex in Ottawa.
The 252-bed home, named Common Zibi, will be located along the Ottawa River as part of Dream’s Zibi redevelopment project in Ottawa and Gatineau.
Common will make its first international expansion into Canada in partnership with Dream Unlimited, one of Canada’s leading real estate companies with $15 billion of assets under management in North America and Europe.
Zibi is a 34-acre master-planned community, with ambitions to become the most sustainable community in North America. The community will dedicate 7.7 acres to four parks and five public plazas that will utilize the region’s first zero-carbon district cooling and heating system. Upon completion, Zibi is expected to be home for 5,000 residents and provide employment for 6,000 people.
Bordering the Ottawa River, the Common Zibi community is located in the heart of the National Capital Region. It will enjoy connections to walking and biking paths surrounded by two central transit hubs. The 24-story building would offer a mix of coliving suites as well as traditional apartments, and provide fully-furnished shared lounges and large, shared kitchens, community rooms, in-unit laundry, roof deck, parking spaces, and a gym that includes yoga room and many other amenities.
“Cities are facing similar housing challenges throughout the world — urban populations are rising, and housing supply is not keeping up. Common’s entrance into our first city outside of the United States is a testament to not only the growing need for high-quality rental housing options, but also to Common’s ability to offer a truly unique brand of residential living that people, regardless of country, are seeking,” Brad Hargreaves, founder and CEO of Common, stated.
The development is scheduled to open in 2022 and will also include ground-floor local retail.