The National Capital Commission (NCC) says it has purchased the former Chapters building on Rideau Street and plans to convert the property into a new events centre.
During a board of directors meeting on Thursday, NCC CEO Tobi Nussbaum said the building was purchased because of its "potential to bring new life to this area of the downtown core."
The sale was confirmed by Radio-Canada in mid-January, but NCC officials did not reveal how much it cost.
The Chapters store closed in 2022, but the group the franchise belongs to opened up an Indigo store across the street inside the Rideau Centre.
Nussbaum said the NCC is "actively engaged in negotiations" toward a lease for an events centre, but did not provide any specifics on what events may be hosted in the new building.
However, Nussbaum said the NCC expects to provide more details at the April board meeting.