A 50,000-square-foot IGA is under construction at Carrefour du Plateau in Gatineau as part of the second phase of the site's development, and should be finished this fall. The development is near boulevards Allumettières and St. Raymond.
CIMA+ was the general engineer and Jeskar the general contactor.
The first phase, completed in 2008, includes a Jean Coutu and two banks.
"We do see it developing slowly," said Karen Weaver, executive vice-president and chief financial officer of First Capital. But she said it's because the company is working to make the business sustainable.
First Capital is also working on a development on Hunt Club Road that will have 140,000 square feet when it is completed. Anchor tenant T&T Supermarket is already drawing a lot of foot traffic to the plaza, which is located nearby the airport and a condominum development at Hunt Club Road and Riverside Drive.
Site approval is still pending for a site at Terry Fox Drive and Eagleson Road and is subject to the city's process for permits. The 50-per-cent owned property is zoned for mixed use and available for stores such as groceries, restaurants and retail.
"We look for high quality corners and we typically have tenants that provide everyday goods and services – the kind of shopping centre where customers will visit two to three times a week," Ms. Weaver said.
The company made its first local foray in the mid-1990s, and currently has 14 properties in Ottawa comprising 1.8 million square feet. Ottawa makes up six per cent of its overall revenues.
"It's the nation's capital, and that attracts a stable population. It also has some development in terms of business," Ms. Weaver said.
"I've been monitoring from afar the Ottawa region for 18 years and it's certainly a great market for ownership."
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