"I would say that the economy in Calgary has been a bit of a challenge as well, but we believe we have a great location and a great site to build something even in a down market. So our intention is to just move forward regardless but with a bit of a different overall scale of the project," said Mike Bescia, vice president and partner of Western Securities.
Bescia says the company plans to apply for a building permit later this year that would allow for construction of the medical office building, a residential tower, retail shops and some other infrastructure.
He says the company is committed to the entire project, just not all at once.