Parker: Calgary Co-op's $2.25 billion vision for growth
Highlights from the article.
On Jan. 17, a ceremony is being held to mark the start of construction of a new development in Mission. Located at the corner of Macleod Trail and Mission Road S.W. on the site of the former Heninger Auto World, it will offer an eight-pump gas bar, convenience store, car wash and liquor store, as well as a 70-unit residential tower being developed by Quarry Bay Investment.
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The Co-op’s aggressive capital investment program includes new grocery stores and adjacent gas bars, convenience stores and liquor stores in Sage Hills, Springbank Hill, and Silverado that will include an additional 54,000 square feet of retail, 105,000 square feet of office and 450 residential units.
In Okotoks, plans are underway for a typical Co-op development with the addition of retail and office units, and the potential for residential. And the Co-op is currently negotiating to purchase a further seven-acre site in Cochrane and two potential sites in downtown Calgary for a 37,000-square-foot grocery store.
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In the northwest sector, the Dalhousie Co-op that was built in 1974 is in for land-use and development approval this month to relocate the grocery store, liquor store and gas bar/car wash, and add more retail as well as office and residential. Currently, the site employs 60 people — at completion, it will provide more than 300 jobs and homes for 800 people.
The proposed changes at Brentwood, the Co-op’s second oldest store built in 1965, will increase the number of jobs from 40 to 300, adding more retail, office and 482 residential units. Oakridge is due for a similar upgrade that goes before the Calgary planning commission next month.
At North Hill Co-op — built in 1960, the oldest store in its portfolio — the company has completed plans to redevelop the entire site that includes the Connect First (First Calgary) building on the corner of 16th Avenue and 4th Street N.E., where a new 44,000-square-foot grocery store will be built.
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Source:
http://calgaryherald.com/business/real-estate/parker-calgary-co-ops-2-25-billion-vision-for-growth
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