I have often thought it would to be fun to be a “futurist.” So for fun I thought I would look ahead at what key condo developments might happen in 2015.
Probably the biggest announcement I predict for 2015 will be the Calgary Flames Partnership plans for a new SHED (Sports, Hospitality and Entertainment District). It could be the redevelopment of the lands around the Greyhound Bus Station, or McMahon Stadium lands including the baseball stadium and playing fields, or they could surprise everyone and announce a site on the edge of the city. Wherever the site, I predict it will be a creative and comprehensive plan with condos, hotels, offices, and retail - maybe even a convention centre and new stadium.
Will 2015 be the year that Harvard Developments will announce they are beginning phase one of the mega makeover of the Eau Claire Market. Back in November, 2013, Harvard announce ambitious plans for the site that would include 800,000 sf of office, 800,000 sf of residential (600+ condos), 600,000 sf or retail and 200,000 sf of hotel space in four ultra contemporary towers and a futuristic podium. This project has the potential to be a game changer in making south shore of Calgary's Bow River one of the premier luxury urban communities in North America.
Rail Trail Rejuvenation
Currently, 9th Avenue in Downtown’s West End is flying under the radar, but both the Metro Ford and Stampede Pontiac sites have proposals floating around for mega developments that may well come to fruition in 2015. WAM Development Group has plans for the Metro Ford site (9th Avenue and 10th Street SW), rumoured to include four towers containing 1,800 luxury condos and 150,000 square feet of retail. This would make it the largest condo project in Calgary’s history, but construction won't begin for at least another 5 years, until Metro Ford's lease expires.
Across the street on the NE corner of 9th Ave and 10th St SW, West Village Towers is a 3-tower (575 units), 90,000 square feet retail proposal by Wexford Developments Corporation and Cidex Developments.
Further east on 10th, Lamb Development will start construction on its “6th and Tenth.” A long shot for 2015 would be if Remington Development announced updated plans for its mega Railtown project straddling the tracks from 9th Avenue to 10th Avenue east of the new 4th Street SE underpass.
West LRT Catalyst
In 2014, Calgary developer Matco Investments acquired 10 acres of City land adjacent to Westbrook Station. This Transit Oriented Development site is part of the larger Westbrook Village area plan that envisions an innovative, vibrant pedestrian and cycling-oriented urban community. I am told design for the first phase of the Westbrook Station village is well underway for the land along 17th Avenue and 33rd Street SW, just east of the underground station. It will include residential, retail, restaurant and a public plaza. A development permit for phase one will be submitted in the first part of the new year, which means construction, will start in 2015.
Jacques Site Redevelopment Ideas
Look for an announcement on the redevelopment of the 5.3-acre Jacques site immediately northeast of the 29th Street SW LRT Station – some of the former seniors’ cottage homes have already been removed. Silvera for Seniors has been working with the City, urban designers and the community to create a unique, seniors-focused village with a variety of multi-residential housing types, a small-scale retail office development, a park/plaza public space and a pedestrian mall.
Inglewood R & R
Capitalizing on Inglewood being proclaimed Canada’s greatest neighbourhood by the Canadian Instituted of Planners in 2014, several developers will be moving forward on new projects in 2015.
The Inglewood Brewery site, quietly waiting for redevelopment for decades, will finally see some construction in 2015. Over the past several years, owner Matco Developments has been doing its due diligence with the City, Province and community regarding balancing historical preservation opportunities and economic realities of redevelopment of this historic industrial site.
With the second phase of Matco/M2i Development’s SoBow condo project at the eastern edge of Inglewood completed, their attention in 2015 will turn to the creation of a live, work, play Brewery District in multiple phases. Revitalization will begin in 2015 with the renovation of the Bottling Plant to accommodate commercial uses, which will set the stage for future residential development.
Further west along 9th Avenue two new condos are planned at 13th St SE. On the northeast corner Torode Reality will complete its four-storey project with retail at street level and 54 condo units above. On the southwest corner, I have a sneaking suspicion a similar scale project will be announced in the new year.
Further west on 9th Ave Jeremy Strugess’ architectural team has designed the uber- contemporary and controversial Avili condo across the street from the funky Atlantic Avenue Arts Block that I believe will start construction in 2015. All of these projects call for retail space at street level and residential units above (R&R) just like the old brick buildings built 100 years ago when Atlantic Avenue (9th Street) was Calgary’s first Main street.
In 2015, as many suburbanites will be moving into condos as single-family homes. Today’s family-oriented suburban communities – not like those of their parents - have a mix of condos, town and single-family homes. No longer do single-family homes dominate new suburbs.
A good example of the type of new condos being built in the ‘burbs is Auburn Walk in Brookfield Residential’s master-planned community of Auburn Bay. This two building, four-storey, modern designed condo is a short walk to shopping, lake and bus rapid transit. Units range in size from 544 to 1,018 square feet - similar to new high-rise condos in the Beltline meaning many suburban Calgarians live in the same footprint as those downtown.
My crystal ball tells me the big new 2015 condo announcement in the ‘burbs will be the construction of Calgary’s first six-storey, wood-frame condo building. The City recently changed its policy to allow for this type of structure as a means of creating more density and affordable condos. Ideally, the City would like to see six-storey condos in established communities, but that might take a couple of years, as everything is more complex in the inner city.
It doesn’t take a futurist to know that 2015 will be a big year for East Village (EV) as the first wave of new residents since 2003 will move into two new condo towers - FUSE and FIRST. It is estimated 750 more people will call EV home in 2015, with 500 to 1,000 new residents moving into EV each year for the next several years. And, some people thought is would never happen!
If oil prices stay below $80 for all of 2015 it will be a challenging year for developers and homebuyers. I am confident that what is currently under construction will be completed, but projects could be delayed. However, after a record year of condo starts in 2014, it might be time to take a bit of a breather.