I'd be very hesitant to do that for a variety of reasons.
#1 - You have Rockcliffe airport that is a NFZ going right over the canal just east of Ottawa
#2 - You have some seaplane bases right in that area too.
#3 - Flying at low altitudes could be an issue coming close to people of buildings. You are in a city, and there is probably going to be lots of people around.
#4 - (This should probably be #1) You are flying in the Capital! I don't think they are going to give any leniency if you do anything incorrect. Rideau Hall and Parliament Hill are both restricted flight areas, and they both extend over the Rideau Canal. You could see some serious consequences for the tiniest mistake.