East Village Rejuvenation Plan

[Spring2008]

Originally Posted by mellbell416

Yes, I think you are right - I was talking to one of the EV ambassadors today and he said something about that being put in..don't know how big it would be though.

Good to hear, lots of work going on within the island side too

[DizzyEdge]

http://www.calgaryherald.com/business/re...e+residential+towers/10083626/story.html

Two more residential towers planned for East Village

Project to be above RioCan retail podium

BY MARIO TONEGUZZI, CALGARY HERALD AUGUST 1, 2014 2:56 PM

CALGARY - Two residential towers are now part of a much-anticipated retail development in Calgary’s East Village.

In a news release this past week announcing its second quarter financial results RioCan Real Estate Investment Trust said it and its partner KingSett have entered into a conditional agreement with developer Embassy Bosa “to sell up to $30 million in air rights (representing 600,000 square feet) above the CPA development site, along with approximately $40 million in cost reimbursement for infrastructure works.”

The land, which was formerly the Calgary Police Association, is a 2.8 acre site bounded by 5th and 6th Avenues S.E. and 3rd and 4th Streets.

“The intention is for two residential towers to be erected upon the planned retail podium,” said the news release.

more here: http://www.calgaryherald.com/business/re...e+residential+towers/10083626/story.html

[The Fisher Account]

"Air rights"

That's definitely a new one for me

[outoftheice]

Originally Posted by DizzyEdge

http://www.calgaryherald.com/business/re...e+residential+towers/10083626/story.html

Two more residential towers planned for East Village

Project to be above RioCan retail podium

Interesting development!! Embassy Bosa obviously has their sights set on Calgary as I believe they are now also a major development partner for the Currie Barracks land. I'm curious to see if this news means that we will now see construction begin on the Rio Can mixed used portion sooner or if this means a delay to the mixed use portion to allow for redesign and possible staged construction that lines up with condo sales??

[Doug]

Originally Posted by The Fisher Account

"Air rights"

That's definitely a new one for me

Basically, it is selling unused zoning. The site must be zoned for greater FAR than RioCan plans to use, so it is selling the excess to Bosa.

Bosa must be planning some high FAR if it was willing to pay $30M. Anybody now the existing zoning for the site?

[H.E.Pennypacker]

Originally Posted by DizzyEdge

http://www.calgaryherald.com/business/re...e+residential+towers/10083626/story.html

Two more residential towers planned for East Village

Project to be above RioCan retail podium

BY MARIO TONEGUZZI, CALGARY HERALD AUGUST 1, 2014 2:56 PM

CALGARY - Two residential towers are now part of a much-anticipated retail development in Calgary’s East Village.

In a news release this past week announcing its second quarter financial results RioCan Real Estate Investment Trust said it and its partner KingSett have entered into a conditional agreement with developer Embassy Bosa “to sell up to $30 million in air rights (representing 600,000 square feet) above the CPA development site, along with approximately $40 million in cost reimbursement for infrastructure works.”

The land, which was formerly the Calgary Police Association, is a 2.8 acre site bounded by 5th and 6th Avenues S.E. and 3rd and 4th Streets.

“The intention is for two residential towers to be erected upon the planned retail podium,” said the news release.

more here: http://www.calgaryherald.com/business/re...e+residential+towers/10083626/story.html

Is this the same RioCan site that we saw that retail render for that alluded to potential towers going on top of it? Where the grocery store (Loblaws IIRC) is supposed to go?

[Spring2008]

300k sf each tower is big for res, especially cause this number excludes the 6 storey retail/office podium. These must be the two 40 storey towers that were mentioned awhile back. Bosa does great work, keep them coming!

[Spring2008]

Originally Posted by Doug

Basically, it is selling unused zoning. The site must be zoned for greater FAR than RioCan plans to use, so it is selling the excess to Bosa.

Bosa must be planning some high FAR if it was willing to pay $30M. Anybody now the existing zoning for the site?

Not sure about the FAR set for that parcel, but 40 storey towers should be doable given large parcel, provided no height restrictions. Parcel's 2.8acres or about 122,000 sf. Total sf would be 300,000sf retail plus 600,000 sf condo = 900,000 sf total or a FAR of 7.4.

[The Fisher Account]

Weren't there rumours months ago about a 60 storey residential tower in the EV?

Is this it?

[Doug]

Originally Posted by Spring2008

Not sure about the FAR set for that parcel, but 40 storey towers should be doable given large parcel, provided no height restrictions. Parcel's 2.8acres or about 122,000 sf. Total sf would be 300,000sf retail plus 600,000 sf condo = 900,000 sf total or a FAR of 7.4.

That sounds reasonable.

[McMurph]

Originally Posted by Spring2008

Not sure about the FAR set for that parcel, but 40 storey towers should be doable given large parcel, provided no height restrictions. Parcel's 2.8acres or about 122,000 sf. Total sf would be 300,000sf retail plus 600,000 sf condo = 900,000 sf total or a FAR of 7.4.

I'm pretty sure that site would have some height restrictions. The late afternoon shadow of a tall tower there would fall right over the main EV plaza at the Simmons building, wouldn't it?

40 stories and slender residential towers might be doable but I don't think the sky is the limit.

[mellbell416]

Wouldn't there be some height restrictions? It is close to the river...

[Full Mountain]

Originally Posted by Spring2008

Not sure about the FAR set for that parcel, but 40 storey towers should be doable given large parcel, provided no height restrictions. Parcel's 2.8acres or about 122,000 sf. Total sf would be 300,000sf retail plus 600,000 sf condo = 900,000 sf total or a FAR of 7.4.

I thought the riocan site was to the north of the CPA land, no?

[lineman]

The DIC is north of the CPA lands.

[Full Mountain]

Originally Posted by lineman

The DIC is north of the CPA lands.

The CPA lands are between 6th and 7th and the DIC is 4th and 5th. And according to this blog [Calgary Herald] RioCan is in between them.

[Design-mind]

Is the RioCan project on hold or are they still at the drawing board to put extra storeys above the podium??

[J-D]

Originally Posted by Design-mind

Is the RioCan project on hold or are they still at the drawing board to put extra storeys above the podium??

Hopefully, that's my new go-to parking lot downtown

[Spring2008]

Originally Posted by Full Mountain

I thought the riocan site was to the north of the CPA land, no?

I think the CPA site(where riocan is going) is directly south of the DIC.

Looking at an aerial, the riverpaths cut south as you head east, and Bosa's building a 31 storey tower just east of here. Looking at the distance to the river path from the Riocan site with the triangular lot, then the big 5th ave overpass, then DIC, another block and 4th ave, 40 storeys shouldn't be a problem as far as the shadowing bylaw.

40 residential floors prob only about 130m, whereas the Bow just a few blocks west is at 236m.

[TallBob]

"Air rights".... Developers start paying for that and it makes me think something fairly tall will go on that site. Maybe, maybe much taller than 40 floors! IMO.

[Spring2008]

Has EV Hilton started construction yet?