The north side of Ottawa could look drastically different very soon.

At the Ottawa Chamber of Commerce’s “State of the City” event, Mayor Robert Hasty announced a $17.5 million private investment for a project on the far north end of the downtown district, with construction expected to begin later this year.

“In 2026, we anticipate what will be the single largest private investment in our downtown in recent history,” he said. “I’m not able to disclose many more details just yet, but I can say this: it represents confidence in Ottawa. It represents belief in our downtown, and it represents momentum.”

While Hasty did not disclose other details, he said that formal announcements about the project will be made in the coming weeks.

“Unfortunately, I told exactly as much as I was allowed,” he said. “We’re hoping to make the joint announcement within a few weeks.”

Hasty said this investment is emblematic of a larger trend for the city of Ottawa.

“I believe you will see clearly why this project matters, not just for that block, but for the continued strengthening and growth of an entire sector of our community,” he said. “Sometimes growth happens quietly, and sometimes it’s announced in a very big way.”