Colonnade BridgePort Breaks Ground for 22-Storey Residential Tower at 1950 Scott Street
OTTAWA, June 26, 2025 (GLOBE NEWSWIRE) -- Colonnade BridgePort, a leading full-service real estate investment, development, and management company, has officially broken ground on RYSE, a new purpose-built multi-residential development located at 1950 Scott Street in Ottawa’s Westboro neighbourhood. Designed to meet the growing demand for high-quality rental housing in one of the city’s most sought-after communities, RYSE will offer a modern living experience that emphasizes connectivity, livability, and convenience.
Ideally situated steps from the transitway and within walking distance of shops, parks, and other neighbourhood amenities, this 22-storey, 242-unit tower is being developed through a partnership between co-owners Claridge Real Estate Investments and the CBP Real Estate Fund, together with CBP Development and construction partner Morley Hoppner.
“RYSE reflects our strategy to deliver high-quality, transit-oriented multi-residential developments that contribute to building a more connected and livable Ottawa,” said Kelly Rhodenizer, Senior Vice President, Development. “This project will bring much-needed rental supply to the market while adding to the vibrancy and continued evolution of the Westboro community.”
RYSE will feature a mix of studio, one-, two-, and three-bedroom suites, along with contemporary finishes and carefully curated indoor and outdoor amenity spaces. Ground-floor retail space will further enhance the building’s integration with the surrounding neighbourhood. Reflecting a commitment to sustainable design, energy efficiency, and environmental performance, RYSE is being constructed to achieve LEED® Silver certification. Initial occupancy is scheduled for Summer 2027.
RYSE is the second project to get underway in Colonnade BridgePort’s $2 billion development pipeline, backed by equity from the CBP Real Estate Fund. The company previously broke ground on Artefact on Argyle—a 12-storey, 127-unit residential development in Centretown—in November 2024. Additional projects are scheduled to launch in the coming months.
With a focus on expanding access to institutional-grade investment opportunities, Colonnade BridgePort’s fund management division, CBP Capital, is preparing to launch two new real estate investment funds targeting key secondary markets across Canada.
Investment Inquiries
Andrew Blair
Managing Partner, Investment and Fund Management
ablair@colonnadebridgeport.ca | 343.633.5134
Property Management Inquiries
Ron Matheson
Senior Vice President, Real Estate Management Services
amatheson@colonnadebridgeport.ca | 343-633-5125
Media Inquiries
Rachal Fleury
Manager, Marketing and Communications
rfleury@colonnadebridgeport.ca | 343.633.5129
About Colonnade BridgePort – colonnadebridgeport.ca
Colonnade BridgePort is a full-service real estate company providing comprehensive property management, leasing, acquisition, development, investment management, and asset management services for commercial and residential properties. With a focus on understanding each client's unique goals, we leverage our real estate expertise and market insights to deliver exceptional performance. Headquartered in Ottawa, Colonnade BridgePort also has offices in Mississauga, Toronto, Dartmouth, and Fredericton.
About CBP Capital – colonnadebridgeport.ca
CBP Capital, a division of Colonnade BridgePort, manages private equity funds – including the CBP Real Estate Fund – and provides investment and asset management services. Our funds enable private investors to access real estate opportunities of a quality and scale typically available only to institutional investors. Acting on behalf of both institutional and private real estate investors, we protect and enhance invested capital, applying a wide range of financing and transactional experience, market intelligence, and analytical expertise to all forms of real estate investment.
About Claridge Investments – claridgeinc.com
Claridge is an investment firm headquartered in Montreal, with 37-years of operation. It represents the interests of the Stephen Bronfman family. It is actively engaged in managing a diversified portfolio of third-party investments as well as direct interests in companies active in the food, technologies, energy, real estate and entertainment industries.
About Morley Hoppner – morleyhoppner.com
For over 37 years, Morley Hoppner has helped shape Ottawa and its surrounding areas, providing industry-leading construction and real estate development solutions to our clients and leveraging our passion for creating a sense of place and community. During that time, we’ve been fortunate to participate in the development and construction of some of central Ontario’s premier projects, from large-scale multifamily developments to recreational facilities and building revitalizations.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/87921016-17c2-4609-bd9d-4d4ff6b48f3f
RYSE Groundbreaking
Representatives of key project partners including Colonnade BridgePort, Claridge Real Estate Investments, and Morley Hoppner, break ground at RYSE.
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