Sun Life Financial has unveiled a bold proposal to transform the property at 1822 Bank Street in Ottawa into a dynamic, four-tower residential and mixed-use community. Located just south of Walkley Road and only 200 meters from the Walkley LRT station on the Trillium Line, the site is poised to become a model for transit-oriented development in the city's south end.

According to public records from the City of Ottawa's development application portal, the proposed development would replace an aging retail plaza and surface parking lot with four high-rise towers ranging from 25 to 40 storeys. In total, the project would deliver 1,432 residential units—predominantly studio and one-bedroom apartments averaging 540 square feet, complemented by 423 two- and three-bedroom units averaging 830 square feet. This unit mix suggests a focus on both affordable starter homes and practical family-oriented layouts, making the project appeal to a wide range of buyers and investors.

In addition to housing, the plan includes approximately 9,000 square feet of ground-floor commercial space in the tallest tower and one of the 34-storey buildings, adding retail amenities to serve residents and surrounding communities. The proposal also features a three-level underground parking structure offering 979 spaces, along with 20 additional surface spots.

Sun Life's proposal goes beyond just building height and density. It incorporates several urban design elements aimed at improving livability and connectivity. These include a half-acre public park, three new private streets that link the towers, and smaller landscaped parkettes designed to enhance pedestrian and cycling access throughout the site.

For homebuyers, the project represents a chance to enter the market in a well-connected, growing neighborhood. For investors, the combination of location, scale, and timing make it an opportunity worth watching as Ottawa's housing landscape continues to evolve.

Information source: City of Ottawa's development application portal