Dream Unlimited plans to sell a prime 3.27-acre parcel of land in Gatineau, Que.

The company has begun marketing the property with related organization Dream Impact Trust. Known as the Capital View Lands, the site is located within Dream’s Zibi community.

Zibi is a 34-acre waterfront community that straddles Gatineau and Ottawa. The property being marketed is on the Gatineau side.

“We feel Zibi has generally progressed well and provided opportunities for very innovative partnerships,” said Michael Cooper, Dream’s chief responsible officer, in a news release. “By bringing in development partners for the Capital View Lands, Zibi’s development pace can be accelerated to provide a mature community sooner in such a vital location to the National Capital Region.”

Both cities are part of the National Capital Region.

Known for its commitment to sustainable living, Zibi incorporates a district energy system that utilizes post-industrial waste for heating and uses the Ottawa River for cooling, enabling the entire community to remain carbon-neutral.

Dream is looking to benefit from the Ottawa Senators’ agreement with the National Capital Commission that will see the National Hockey League team build a new arena in the nearby LeBreton Flats district in Ottawa.

“With the recent Senators arena announcement, we are excited to see even more development momentum near Zibi,” he said.

Since Dream’s initial investment in 2015, the company has invested in roughly 1 million square feet of multi-residential premises, including co-living units; commercial space, two public parks, and three plazas within Zibi.

The Capital View Lands come with approximately 1 msf of potential development density. Dream envisions a multi-building project with up to five separate structures, offering developers a chance to contribute to one of Gatineau’s most prominent sites.

Dream remains plans to build 2,500 rental units, 600 of which are already completed and leased or completing lease-up, within Zibi. The company is set to break ground on another 440 units there within the next year.

The Capital View Lands comprise 10% of the total Zibi site. By bringing in new development partners, Dream aims to diversify the product offerings and speed up the completion of the community.

Dream’s involvement in Zibi is part of the company’s broader strategy for the National Capital Region. Last spring, Dream began construction on a 608-unit rental building in LeBreton Flats.

That development, near the Pimisi O-Train station, is a prime example of how public, private, and non-profit partnerships can bring much needed supply to market efficiently, said the company.

Approximately one-third of Zibi has been completed. The sale of the Capital View Lands and development of two buildings would help the company reduce its infrastructure debt substantially, said Dream.

Image: Common Living