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Mr Channi Toor
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Wednesday, November 21, 2012 - East Village parcels of land for sale in Calgary

East Village parcels of land for sale in Calgary
Commercial development opportunities

CALGARY — Calgary Municipal Land Corporation has put two parcels of land in East Village on the market for sale as commercial development opportunities.

The properties are located adjacent to RiverWalk.

The deadline to respond to the Request for Proposal is December 31.

One parcel of land is 10,800 square feet along RiverWalk and Confluence Way, just east of the Simmons Building.

The other parcel of land, at Riverfront Avenue S.E. and 4th Street, is really two parcels - one at 15,000 square feet which is restricted by the flyover and the other 26,000 square feet.

Susan Veres, vice-president of marketing and communications for CMLC, said both parcels of land are perfect for commercial development.

“They’re smaller parcels . . . The rationale really for taking them to market now is this entire year we’ve been focused on a retail strategy and as we’ve worked now through what we call Phase One of a consumer campaign, it’s becoming more apparent to us that the narrative on a retail story has to be told to the consumer. And that shouldn’t be a surprise to anybody,” she said.

“Our focus is now on these two particular parcels because they’re going to require a little bit of a special touch . . . The smaller parcel next to the Simmons is a small site and because of its shape is a little bit awkward to deal with. Parking will be somewhat restricted. So it’s going to require some special thinking. The second one . . . has the 5th Avenue flyover on top of it so a portion of that land therefore is restricted.”

The smaller site along the Bow River is likely best suited for a restaurant-type development.

Veres said the larger parcel could be ideal for a designated retailer location or a retail location with an office component.

“Our work along RiverWalk for East Village is now complete,” said Veres. “So it sort of makes sense that those two parcels along the river have public active uses in them and with RiverWalk being now finished, the time is right.”

She said that six weeks after the deadline closes for proposals, CMLC will put together a short-list.

By 2025, the East Village neighbourhood is expected to be home to more than 11,000 people.

The mixed-use development has already attracted more than $750 million of planned private investment including projects such as RiverWalk, the St. Patrick’s Island redevelopment, the National Music Centre, a new central library, the East Village Hilton Hotel and two residential condo towers

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posted in General at Wed, 21 Nov 2012 23:24:50 +0000



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Channi Toor

Having watched and participated in the growth of the Calgary area for many years now, I?ve developed unique knowledge of its communities and hidden treasures as well as an intuitive feel for its real estate market.

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