Massive downtown Calgary development proposed along Stephen Avenue – Calgary

A proposed development in downtown Calgary could see both the city’s skyline landscape and Stephen Avenue undergo a big change, if it receives regulatory approval.

Commercial real estate and equity advisory firm Triovest has submitted a development permit application for the massive construction, which will occupy the majority of a city block at Center Street and 1st Street SW between 7 Avenue and 8 Avenue SW

It is called Stephen Avenue Quarter and will include retail stores, offices, a hotel, rental units and condos, as well as five levels of underground parking.

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“Our approach to real estate has always been to improve and enhance properties so that they realize their full potential. This approach includes a robust exploration of potential community, social and economic benefits,” said Ryan Schott, vice president of marketing and corporate communications at Triovest, in a statement. “As we seek to develop mixed-use options for businesses, residents and visitors to downtown Calgary, we have applied for a development permit and land use amendment with the City of Calgary. Calgary for the 100 block of Stephen Avenue.”

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“We are thrilled to help revitalize downtown Calgary through the execution of this world-class development that celebrates the historic fabric of Stephen Avenue and opens the door to Calgary’s vibrant future,” the statement continued. of Schott.

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The development will feature three towers atop a multi-story podium: a 24-story office tower, a 54-story rental tower and a 66-story condo tower, which would be the tallest skyscraper in the city. Western Canada.

Calgary Mayor Jyoti Gondek said the demand for major development is a sign that the city’s downtown is recovering.

“Private investment coming in and taking a chance on our city is a really big deal,” Gondek said. “I’m interested in exploring this further and seeing what it’s all about.”

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Development permit documents show the podium will surround much of the block, which includes 15 heritage buildings listed on the Assessed Historic Resource Inventory.

According to Heritage Calgary, seven of these buildings have historic designation.

The Stephen Avenue neighborhood of Triovest looking south from 7th Avenue SW

Proposed architectural plans for the Stephen Avenue Quarter show that much of the buildings on 7 Avenue SW are being demolished to make way for the project.

These records also show that many of the facades of the heritage buildings on Stephen Avenue remain as part of the development.

The Stephen Avenue neighborhood of Triovest looking north from 8 Avenue SW

Heritage Calgary said it plans to meet with the developer to learn more about the project and its impact on heritage features in the area.

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“The maintenance of the facades is, to our knowledge, the only remaining heritage elements,” Josh Traptow, CEO of Heritage Calgary, told Global News. “I think (we’re) trying to figure out how they came to that conclusion.”

The Regional Councilor also has questions about the impact on heritage buildings, as well as the vibrancy of the streetscape around the development.

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“It’s something I’m proud of – our history and our heritage – and we don’t want to lose that,” Ward 7 Coun. said Terry Wong. “We’ve seen a number of implementations where this has been done very efficiently, but at the same time, building very modern and contemporary buildings.”

Wong said the demand for development builds industry confidence that Calgary is a thriving city that welcomes investment.

The building is designed by local firm Gibbs Gage Architects.

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Although Gondek is encouraged by Triovest’s development permit application, she said the project still has a long way to go before it is presented to the city’s planning commission and then to the council as a whole.

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“We’re starting the process of reviewing this file and what it might look like for the future of downtown and Calgary, so I’m excited about that,” Gondek said. “I remain open-minded that the applicant has done a lot of work and that the administration, as well as the urban design review committee, will also do their job. I look forward to what will happen to the (council).

Triovest has not announced a timeline for development, and public engagement on the project has just begun.

© 2022 Global News, a division of Corus Entertainment Inc.

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