The trendy and popular neighbourhood of Westboro in Ottawa will be home to a new 37-storey highrise rental community after Fengate Asset Management officially broke ground on the West Orchard Urban Rentals project last week.

The mixed-use development which will rise at 1047 Richmond Rd. is expected to deliver 425 new homes to the area. The tower marks Phase 1 of the development, with a second residential tower currently being planned for Phase 2.

West Orchard Urban Rentals is a LiUNA Pension Fund of Central and Eastern Canada (LPFCEC) project, being developed in partnership with Fengate and The Hi-Rise Group. 

"LiUNA is proud to continue investing in Ottawa and delivering the housing Canadians need," Joseph Mancinelli, chair of LPFCEC, LiUNA International VP and regional manager for Central and Eastern Canada said. “West Orchard Urban Rentals reflects our long-standing commitment to building complete communities while expanding housing supply, creating high-quality union jobs, and strengthening local economies."

West Orchard Urban Rentals marks LiUNA and Fengate’s third residential community in Ottawa, following on Milieu & Ballantyne at 175 Main and 1140 Wellington St. W. 

Fengate's new Communities brand

West Orchard Urban Rentals will fall under Fengate's new Communities brand, announced this April. Communities is intended to bring its multiresidential properties under one unified brand. 

"Through Fengate Communities, we are investing in well-connected neighbourhoods, creating stable long-term value for residents and investors, and advancing projects that strengthen the communities we serve," Carolyn Poirier, VP sales, leasing and marketing, Fengate Real Estate, told RENX. "Guided by a people-first approach, we are focused on delivering meaningful housing solutions and legacy-building developments that benefit Canadians for generations to come."

Fengate manages one of the largest residential pipelines in Canada, with more than 25,000 units slated for delivery over the next 10 years.

Poirier told RENX the company's strong partnership with LPFCEC has been vital to keeping its development pipeline active despite market challenges.

"Fengate brings institutional investment management, development execution, and asset stewardship; LiUNA brings long-term capital with a clear mandate and alignment to job creation and building communities," she said.

"Our developments generate meaningful employment for LiUNA members, creating union labour hours while delivering long-term, income-producing assets. These assets provide stable returns to the LiUNA Pension Plan, directly benefiting its members."

"It’s a fully aligned, cyclical model, with both LiUNA and Fengate invested in delivering projects that support member livelihoods and long-term value creation."

Fengate Communities will develop both purpose-built rental apartments and condos. Managing director of asset management John-Bosco Agbasi told RENX in an earlier interview the company believes in the long term viability of condos.

“Purpose-built rental remains a major focus due to the strong demand, limited supply and excellent long-term fundamentals,” he said. “But in our view, condos have a role to play at different parts of the cycle.”

Transit connections and a mix of units

West Orchard Urban Rentals will be well connected to local transit with a network of nearby bus routes as well as its proximity to the future New Orchard LRT station, projected to open in 2027. 

With its location near the bank of the Ottawa River, the developers promise ample access to public green space, a network of trails and bike paths, and a variety of amenities that promote active living, Fengate said in a press release on the groundbreaking ceremony.

The new development will include 15 designated affordable units among its mix of studio, one-, two- and three-bedroom suites alongside select townhomes.

"Residents will have access to a full suite of amenities including a fitness centre, yoga studio, coworking and social lounge space, sports theatre, kid zone, private dining areas and a penthouse sky lounge, accompanied by ground-floor retail," the release said.

“West Orchard Urban Rentals reflects Fengate’s confidence in Ottawa and the strength of its rental housing market,” Fengate president Jaime McKenna said in the release. “As our third residential community in the city, this project builds on our established presence while reinforcing our long-term commitment to delivering high-quality rental communities in well-connected neighbourhoods."

"We are proud to continue supporting the city’s growing housing needs while creating lasting value for residents, investors and the broader community.”

Acquired the site in 2022

Fengate and LPFCEC acquired the site in March 2022 and originally sought rezoning for three towers and up to 1,300 residential units.

The project is targeting LEED certification and will include approximately 1,000 square metres of new public park space.

"As Ottawa continues to grow, projects like this demonstrate what is possible when long-term investment, strong partnerships, and a highly skilled union workforce come together to deliver lasting results for families, workers, and future generations,” Mancinelli said.

Fengate and LiUNA

Fengate was founded in 1974 in Hamilton by Louis Serafini Sr. and its partnership with LiUNA began seven years later. With more than $40 billion of assets under management, Fengate Asset Management is focused on infrastructure, private equity and real estate strategies.

Fengate Real Estate, a division of Fengate Asset Management, is a fully integrated real estate investment, development and asset management platform with a $20 billion portfolio.

Established in 1972, the LPFCEC has since become one of the fastest growing multi-employer pension funds across Canada and has a diverse investment portfolio and over $13 billion in assets.