Claridge Homes has officially applied to convert the Union of Canada Building in Ottawa’s historic Byward Market into a hotel.
They plan to add three stories to the existing, 11-level office building located at the corner of York and Dalhousie Streets.
Claridge acquired the building through Colliers’ Investment services team. David Lees, Jordan Bianconi, Mike Pyman and Stephen Norton of Colliers marketed the building and negotiated the sale on behalf of Grant Thornton, who was appointed by the courts to act as liquidator responsible for winding up Union of Canada Life Insurance.
Colliers Vice President David Lees said the conversion of the building to a hotel will add much needed amenity to the historic precinct: “There’s a shortage of development opportunities in the historic precinct and Claridge has acquired a great asset in a top location,” commented Lees. “The conversion will meet the increasing tourist and government demand for visitor accommodation in this desirable location.”
Applications for approval have been submitted.