In a stunning news release this morning, the Government of Canada says that the grounds of Parliament Hill have been sold to a Spanish business group. It is the same consortium that purchased the 407 Highway in Ontario from the Mike Harris government in 1998, operating as Highway 407 International Inc.
The business group is based in Barcelona, Spain but with international holdings around the globe it has been particularly active in its pursuit of a greater presence in Canadian investment. A spokesman for the government confirms that the purchase is for the land only – the buildings, including the historic House of Commons, will be carefully dismantled and moved across the Ottawa River to a location in Hull, Quebec, which will become the new location for Parliament in 2020. The land left behind will be developed into a collection of six condominium buildings surrounding a shopping complex known as The Hill.
“This property is well known and may be the most spectacular location in all of Canada,” says real estate expert Lirpa Loof, who engineered the process on behalf of the Harper government.
Executives at Canada’s major real estate firms expressed outrage about the secrecy with which the deal was conducted, and at the low $2-million selling price. “The historic value alone is far in excess of this paltry amount. It is far undervalued,” a spokesman said.
“This is a project that will take place over a five-year period, permitting all the time needed to move the House of Commons piece-by-piece and allow time for engineering and design of new offices, for what we anticipate to be a larger government in the years ahead,” says Loof.
“It is for that reason that consideration had to be given for a lower price. Canadian real estate companies simply do not understand real estate marketing the way I do,” added Loof, who has been on the job for almost three years.
In the interim a trailer will be set up near the entrance of Parliament Hill for viewers to see the plans for the new condo sites and provide visitors an opportunity to make deposits on their new homes in the nation’s capital. The trailer opens for business first thing on April 1.
