City of Ottawa Cashes in on Sale of Former Bayview School
On March 9, 2107 the City of Ottawa closed on the sale of the former Bayview School on Riverside Drive, across from Mooney’s Bay. The $16.5M sale represents a new high-water mark for mixed-density residential development land in suburban Ottawa.
The Bayview School was declared “surplus” by the Ottawa Carleton District School Board in 2007 and was acquired by the City of Ottawa for $9M in 2008, including the cost to demolish the former building. The increase of almost 85% showed a healthy return to city taxpayers and a signal that suburban development sites remain in high demand by developers ready to supplement the local property tax base with additional development.