Finance Committee Approves Lansdowne 2.0 Project

Ottawa’s Finance and Corporate Services Committee has approved the Lansdowne 2.0 redevelopment plan with a vote of 8–3. The final decision will go before City Council on Friday.

The total project cost is estimated at $418.8 million, with $130.7 million coming from the city and the remainder funded by private investors from the Ottawa Sports and Entertainment Group (OSEG). According to a Deloitte LLP report, the project could recover up to 69 cents for every dollar invested, driven by increased residents, visitors, and event attendance.

The plan includes a new multi-purpose event centre with 7,000 seats, reconstruction of the TD Place Stadium north stands, and two 40-storey residential towers. The first two floors will host municipally owned retail space, while the upper levels will feature about 770 condos, rental apartments, and hotel units.

It also envisions 12,700 square metres of green space and 6,280 square metres of public plazas.

The redevelopment will unfold in three phases over nearly ten years:

• Phase 1 (2024–2028): construction of the new event centre and landscaping.

• Phase 2 (2028–2030): rebuilding the north stands and surrounding infrastructure.

• Phase 3 (starting 2031): construction of residential towers and retail podium.

Auditors caution that the 10% contingency is “the minimum buffer” for a project of this scale, warning that cost overruns could increase city debt.

Once approved, Lansdowne 2.0 will represent Ottawa’s largest urban development investment in a decade.