A Calgary developer plans to build a 32-storey mixed-used skyscraper on a vacant downtown site that’s been a neighbourhood eyesore for several years.
Strategic Group has submitted a development permit application for the site at the corner of 1st Street S.E. and 10th Avenue. The $130-million project, to be named ONE, will include 100,000 square feet of Class A office space, 227 one- and two-bedroom rental residences and retail, says the Strategic Group.
Strategic acquired the site in November 2014 after it sat vacant for several years after a planned 30-storey condo project never got off the ground.
Despite the current economic uncertainty, the developer has confidence in the city and has confidence in the particular project that they're building.
Construction is expected to start later this year with completion by the end of 2017.
It’s got such great access into downtown so people can really have that living close to work and being able to walk or ride a bike and not having to rely on a car as much to get around. Everything is in a very close range from that site.