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Old Posted Oct 14, 2022, 4:10 AM
Hali87 Hali87 is offline
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Location: Calgary
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Huddle: Will A Major Apartment Development Help Lower Sackville Fight Zero Percent Vacancy?

Quote:


Upland Studio has filed an application to pave the way for the development at the Sackville Town Centre on First Lake Drive, where a Sobeys and Tim Hortons currently sit. The developer has proposed the new buildings stretch from six to 22 storeys.

Lower Sackville Councillor Paul Russell says the company has submitted an application to ask for amendments to the existing development agreement for the shopping area. The move is being made because of current height restrictions.

He adds it’s still early in the process; Upland’s application is only in the review stage and has not yet been approved.


...

The developer is working with the city’s planning department to refine and revise the application. Under the plan, the Sobeys at the Sackville Town Centre would stay put while Tim Hortons would be relocated to make way for the towers.

...

If approved, the development would see one residential, multiple-unit building and two mixed-use buildings added to the property. There would be 800 housing units along with additional commercial space on the ground floor.

The proposal includes 462 additional parking stalls below and above the ground. The site could also contain a network of pedestrian walkways and tree-lined plazas.

...

Russell believes they will help to ease the burden of the housing crunch a little bit. He says the ideal vacancy rate for the area is three-to-four percent.

“That provides a little bit of flexibility for those looking for an apartment so that landlords aren’t necessarily able to charge whatever the heck they want, and people have options available,” Russell says. “And those options simply don’t exist right now. When that happens, it’ll be easier. What that does in relation to this development, I don’t know, it is still way too early to know.

Russell expects the public consultation phase will be carried out in the new year with notice being sent in the mail to residents in the community.
Moderor's Note: I moved this post to the appropriate thread

Last edited by Dmajackson; Oct 14, 2022 at 2:57 PM. Reason: post moved to this thread
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