‘Ottawa’ Windmill Wants up to $62 Million From the City to Clean up and Redevelop Zibi Site
The companies behind the massive Zibi development are seeking up to $60 million from the City of Ottawa to restore heritage buildings, remove soil and clean up toxic chemicals on the former Domtar site.
The return for the investment, say the companies, will not only be a cleaned up and accessible community and tourist draw, but an increase in property tax revenues of more than $10 million a year by 2019. The community is expected to include 1,200 residential units, businesses, retail, parks and a hotel.
Windmill Development and Dream Unlimited, developers of the planned $1.2-billion residential, retail and commercial community on the islands around Chaudière Falls on the Ottawa River, applied for funding under the city’s brownfields rehabilitation grant and development charge reduction programs, which offer incentives to encourage redevelopment of post-industrial and heritage properties.