[YourBoy007]

While I'm on this thread I might as well give an update on Tower 1. Looks like they finally found a tenant for the big empty retail space on the ground floor. Not sure what's going in there but work is well underway on the inside.

 

[Surrealplaces]

This is the one building I hope they don't move forward on soon because I live in Park Central Tower 1 and Tower 2 would destroy my amazing view and wake me up every morning

This is one of the reasons why developers should do all their construction at or around the same time. Now they're gonna have a lot of current tenants move out and have a harder time filling the current suites in Tower 1.

Bummer about the view. On a positive side, the new tower should have those same cool views.

 

[YourBoy007]

Bummer about the view. On a positive side, the new tower should have those same cool views.

I might just have to move to the other tower when it's complete

 

[1875]

has there been any communication to residents about the second tower?

 

[YourBoy007]

has there been any communication to residents about the second tower?

Not yet, no. I'll keep this thread updated though as I hear or see anything. They keep everyone pretty well informed.

 

[UrbanWarrior]

This is fantastic news. At 134 meters it will be the tallest building in the central Beltline and the fifth tallest residential tower in the city I believe.

 

[UrbanWarrior]

Some higher resolution versions of the renders...

 

[Thrillhou]

I lived in the Castello building when the plans were drawn up for this development and I remember people were pretty unhappy about it. I can understand the loss of downtown view, but the alley treatment and retail makes this a real positive for the block and property values.

 

[Roaring Flames]

Phase 2 is 39 stories and includes 531 units

New Calgary rental development signals optimism despite high vacancy rates - Calgary | Globalnews.ca

Park Central is expanding and has successfully applied to build a second tower in Calgary's Beltline Community as the apartment rental vacancy rate hovers at 6.6 per cent.

globalnews.ca

 

[GoVertical]

Goodbye to another parking lot

 

[JonnyCanuck]

Phase 2 is 39 stories and includes 531 units

New Calgary rental development signals optimism despite high vacancy rates - Calgary | Globalnews.ca

Park Central is expanding and has successfully applied to build a second tower in Calgary's Beltline Community as the apartment rental vacancy rate hovers at 6.6 per cent.

globalnews.ca

From the article
"According to a report from the Canada Mortgage and Housing Corporation, the city’s apartment rental vacancy rate was 6.6 per cent in 2020, that includes a rate of 8.8 per cent in the downtown core and 5.8 per cent in the Beltline"

That rate is only going to get higher in the next year or so with the completion of Curtis Block, Redstone, 11 & 11th, Place 10 Ph 1, West Village, Arris

 

[UrbanWarrior]

5.8% in the Beltline is pretty amazing considering the literally thousands of units completed in the past year.

 

[MissingMiddle]

Also 5.8% isn't that high, and we need to maintain a healthy vacancy rate otherwise it becomes impossible for renters to find somewhere to live (or prices get crazy, or both). I'd be worried if it was below 3% honestly.

 

[CBBarnett]

Do we know what the retail units will be yet?

 

[YourBoy007]

Do we know what the retail units will be yet?

The east retail unit in Tower 1 will be a boutique store. I forget what it's called. I was hoping for a cafe. The staff are disappointed too.

Video from the CPC meeting has been recently uploaded here