The NCC is moving forward with further negotiations with RendezVous LeBreton Group over the redevelopment of the LeBreton Flats after granting the Ottawa Senators-led group preferred proponent status on Thursday.
The government agency has held 22 meeting with RLG to sort out various key issues including financial terms, determining fair market value for the lands and the timing of proposed land transfers. Marco Zanetti, the NCC’s director of real estate transactions and development, told the NCC board that he was “cautiously optimistic” about the negotiations thus far.
“Optimistic because there has been notable progress in the NCC’s discussions with RLG. In addition, we understand from RLG that progress has been made in their discussions with other key stakeholders.
“Cautious, because it is also clear there remain various fundamental aspects that will require in-depth negotiation among the various parties involved,” he continued. A high degree of cooperation will be required to realize our goal of creating a new, vibrant neighbourhood in the heard of Canada’s capital, one that will create significant economic benefit to all levels of government and the citizens of the capital region.
“The NCC believes that significant clarification and progress has been made with respect to the preliminary issues to warrant RLG to be granted preferred proponent status. Therefore the NCC team recommends to the board that the board designate RendezVous LeBreton as preferred proponent and authorize the NCC negotiating team to continue negotiation towards an agreement.”
The board did just that shortly thereafter, falling just short of unanimity due to one abstention.
While the long negotiation process will continue for now, Zanetti explained that should they deteriorate, the NCC can still approach the second-place LeBreton bidder, DCDLS, and begin anew.
You can watch the entire meeting below.
More to come…