Posted Oct 5, 2010, 9:54 PM
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The City That Moves
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Join Date: Sep 2008
Location: Bridgeland, Calgary
Posts: 1,450
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Email News Release from CMLC:
Quote:
East village– October 5, 2010
Here Comes the Neighbourhood!
East Village celebrates first land development deal.
East Village is celebrating a huge leap forward today with the announcement of the first land development deal for the community in almost a decade, triggering approximately $300 million of mixed-use, multi-family, residential development in the community. CMLC is thrilled to announce that two of Canada's premiere developers, Bosa Development Corporation, together with Embassy Development will deliver approximately 700,000 square feet of new residential and retail product to the community. The project represents approximately 15% of the available developable land in East Village.
Just one year since the Master Plan for East Village was unveiled to the public; this milestone marks a pivotal point in the transformation of East Village and celebrates three years of preparatory work that made this land purchase possible.
Bosa Development Corporation and Embassy Development are headquartered in Vancouver, British Columbia and are backed by international project expertise and unparalleled creativity in mid-rise, mixed-use communities. Bosa's familiarity with the Calgary market is demonstrated in such celebrated projects as, the Barclay, the Marquis, Axxiss, and Liberte. Embassy marks its first foray into the Calgary marketplace with the East Village project.
The Bosa/Embassy project is anticipated to deliver approximately 600 new residential units over five (5) years, with pre-sales beginning in early 2012 and initial residential occupancies by late 2013. The Embassy brand is synonymous with young, hip, smart design and East Village will boast a population of young, well-educated working professionals who have a desire to be close to the action of downtown.
Today celebrates a long-awaited announcement for Calgarians and demonstrates private sector confidence and commitment to join CMLC in the rejuvenation of East Village. It is the result of an extensive marketing program across North America to identify suitable developer partners for the East Village project. Our goal was to bring multi-family residential developers to East Village that had demonstrated expertise with mixed-use, mid to high rise developments, brownfield experience, solid brand reputation, financial capability, design and vision and a willingness to commit to construction timeframes.
Join us in celebrating the first of many exciting announcements for East Village and the transformation of Calgary's newest, oldest, coolest, warmest community.
East Village is being developed by CMLC - passionate, experienced placemakers who inspire communities to build, grow and believe.
calgarymlc.ca
Calgary Municipal Land Corporation (CMLC)
618 Confluence Way SE
Calgary, Alberta T2G 0G1
T: 403.718.0300
F: 403.718.0500
W: calgarymlc.ca
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I wonder if where they did the photo-op was the actual parcel that was sold... I had thought this parcel would have been one of the hardest to sell given it's proximity to the LRT (noise).
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