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Ontario  + Canada  + Retail  | 
The National Capital Commission has purchased a former Chapters bookstore location in Ottawa.

NCC Buys Former Chapters Store Location

The National Capital Commission has acquired a former Chapters bookstore location in downtown Ottawa.

Citing unidentified source, CTV reported that the NCC purchased the property for more than $20 million. The NCC confirmed in a statement to CTV News that it purchased the site, located near the corner of Rideau Street and Sussex Avenue, but did not disclose the price.

The bookstore closed in 2022 after its owner Indigo opened a new location in Cadillac Fairview’s nearby Rideau Centre.

The NCC told CTV that the building was purchased because it is considered part of the National Interest Land Mass and has the potential to bring “new life” to that area of downtown Ottawa. The commission added that is holding “confidential discussions with a proponent” on the property’s future use.

The NCC is a federal organization and ranks as the National Capital Region’s largest property owner. As part of its mandate, the NCC plans for, and assists in, the development, conservation and improvement of the region.

The NCC also approves federal building and land-use design in the region, which comprises Ottawa and Gatineau, Que.

Photo: Gary A Corcoran Arts / Shutterstock.com

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About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

  • ◦Sale/Acquisition
  • ◦Development
  • ◦Policy/Gov't
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