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FREE feb 14 to feb 20 2014 issue 04-06 www.crebnow.com facebook.com/crebnow twitter.com/crebnow
real estate news from industry experts
added options
New development to add commercial and residential choices for West Calgary residents
cody stuart, Managing Editor
jessica cameron
reporter/photographer
C
algary is home to its fair share of malls and shopping centres, and the number just keeps growing. Expected to open in 2017, Highstreet Calgary is the latest development slated for Calgary’s rapidly growing list of commercial developments. The new development, a venture that Shape Properties Corp. based out of Vancouver, B.C. is taking on, will be built next to Canada Olympic Park at the intersection of Highway 1 and
areas. The 650,000 sq. ft. building will be home to a diverse mix of great shops, restaurants, coffee shops, eateries and offices. In addition to the considerable commercial presence, the development will eventually include between 800 and 1,000 multi-family residential units that, according to Troung, will encourage residents to get out and enjoy their surroundings. “We will create a system of local parks that will extend the natural open space into the proposed residential and commercial development,” said Truong. “This interconnected trail system will promote walking, biking
Valley Ridge Boulevard SW. Shape Properties Corp. is also responsible for the redevelopment of Deerfoot Mall, and much of their other work has been done in various locations throughout British Columbia. “This development will provide west Calgary residents with the ultimate shopping, dining and entertainment experience,” said Brenda Truong, corporate marketing manager with Shape Properties Corp. Highstreet Calgary will stretch across 130 acres, with 61.27 acres dedicated to environmental conservation to preserve the environmentally sensitive
SINGLE FAMILY
1197
1209 745
772
879
974
1006
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1132
1336
1354
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1575
1638
1766 1386
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1710 1582
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JAN12 FEB12 MAR12 APR12 MAY12 JUN12 JUL12 AUG12 SEP12 OCT12 NOV12 DEC12 JAN13 FEB13 MAR13 APR13 MAY13 JUN13 JUL13 AUG13 SEP13 OCT13 NOV13 DEC13 JAN14 Unbeatable Value $450,000 MLS C3598238
Incredible renovation & redesign w/superb workmanship!! Enjoy the panoramic views from this 4th floor executive condo!!!
unique and special developed,” said Truong. “Shape was fortunate that they reached out to us and supported our vision of creating a place that offered the opportunity to live, work and play, all in one great place.”
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*All statistics based on monthly data compiled by CREB® via MLS® activity.
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Residents living in West Calgary communities like Valley Ridge will have more shopping options with the addition of Highstreet Calgary’s 130 acre development.
Investors look contents to Calgary news briefs market municipal for growth New schools coming
MLS® NUMBER OF UNITS SOLD* JAN ‘12 – JAN ‘14
POPULAR ODYSSEY TOWER
and transit use.” Economically, Highstreet Calgary will be a benefit as it will not only create jobs, but also generate millions in annual taxes. Truong said, “It [Highstreet Calgary] will become a social gathering and the heart of the community.” Shape Properties Corp. came up with the idea to build Highstreet Calgary, after the previous land owner approached them wanting to sell the property. “Having owned it for a long time, the lands meant a great deal to them, and they were keen to see something
$446,888
MLS C3598379 Spacious bungalow, hardwood, skylights, vaulted ceiling, fully finished lower level. Great location!
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test your knowledge A10
he Morguard’s 2014 Canadian Economic Outlook and Market Fundamentals Research Report shows Canada’s commercial property market is set to outperform after a strong 2013. The western Canadian markets expected to benefit from the stronger economic trend are Winnipeg, Saskatoon, Regina, Calgary, Edmonton, Vancouver and Victoria.
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