Development Update

As you've no doubt noticed, residential development in the neighbourhood has been continuing at a fast pace. The 90 George and Claridge Plaza I projects are nearing completion, with residents to move in this year. Also the Galleria on Besserer is proceeding quickly, and Richcraft has recently applied to build a second phase on the adjacent land. Meanwhile, it appears that Claridge has delayed their mixed residenital rental and office project near the corner of Rideau and King Edward, which received approval this spring. A CBC news report on April 28 reported that resale prices in the Byward Market area have jumped 25 percent in the past two years, a rate four times that of homes outside the downtown core.