TCU Development Corporation and Fiera Real Estate have partnered to develop Soul, a 271-unit purpose-built rental project in Ottawa’s Cyrville neighbourhood.

Fiera is investing in the project through its Canadian Built Opportunities Fund and signals institutional backing for Ottawa’s rental-housing market, the partners said. Construction expected to begin in May 2026.

“Strong partnerships and aligned teams are what drive successful projects and this one reflects that from day one,” said Mike Corneau, co-founder and CEO of TCU. “Partnering with Fiera Real Estate is a strong signal of both the quality of Soul and the long-term fundamentals we see in Ottawa. This project is distinctly Canadian, from capital to expertise to trades, and we’re ready to deliver.”

The 21-storey development is slated to include ground-floor retail space and amenities focused on connection, wellness and convenience. The site is near transit, employment hubs and a growing mix of retail and services in the Cyrville area.

“Soul represents an ideal inaugural investment for the Canadian Built Opportunities Fund — a well-located, purpose-built rental development delivered by an experienced local partner and built by Canadian union tradespeople,” said Pierre Pelletier, senior managing director and head of development and debt at Fiera Real Estate. “It demonstrates how institutional capital can generate long-term value for our investors while creating meaningful opportunities in the communities where we invest.”

The companies said the project will add rental-housing supply while contributing to ongoing redevelopment in Cyrville.

TCU is an Ottawa-based real estate investment and development firm focused on Class A purpose-built rental housing.

Toronto-based Fiera Real Estate is a global investment management company with more than $11.9 billion in commercial real estate assets under management as of Dec. 31, 2025, and is wholly owned by Fiera Capital.