1875
Senior Member
was this
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- Thread starter Surrealplaces
- Start date
FCC1982
Active Member
It’s becoming a parking lot ?
Unfortunately, yes. Cidex owns the land and will probably develop it someday but there’s no DP yet.
1875
Senior Member
when i posted that 2nd pic in november someone mentioned there is no permits on it so guess that leave parking lot at least for now.
konradiical
Active Member
good, we need more parking lots in downtown
I think it's preferable to an abandoned 2-storey building attracting squatters lighting fires.
aryanoboi
New Member
Armco Buys First Canadian Centre In Calgary For $46.5M, Planning Second Tower
The First Canadian Centre sits at 350 7 Ave SW in Calgary and was acquired by G2S2 Capital Inc. through Armco Capital Inc.
storeys.com
I saw this article about First Canadian Centre on Reddit.
Fun fact: there was originally 2 towers proposed, but only the one was built. Armco seems to be interested in building a mixed-use/residential tower on the lot that was originally for the second tower.
Anyone has any thoughts on this?
Dārayavauš
Active Member
"We're excited to share the potential for a residential tower on-site, leveraging the existing foundation originally designed for a 64-story structure in 1981," the company said. "If developed, this project could further enhance the property's position as a dynamic, mixed-use destination, integrating living, working, and retail spaces in Calgary's downtown."Armco Buys First Canadian Centre In Calgary For $46.5M, Planning Second Tower
The First Canadian Centre sits at 350 7 Ave SW in Calgary and was acquired by G2S2 Capital Inc. through Armco Capital Inc.
I saw this article about First Canadian Centre on Reddit.
Fun fact: there was originally 2 towers proposed, but only the one was built. Armco seems to be interested in building a mixed-use/residential tower on the lot that was originally for the second tower.
Anyone has any thoughts on this?
This is great. It would be fantastic if they built it to its full potential of 64 stories of residential.
UrbanWarrior
Senior Member
It could probably support 70 or more storeys of residential, given the larger floor heights of office towers, and far higher weight of mechanical services.
But yes we are aware of the original proposal, the 2010s proposal, and someone posted about this latest vision a few weeks ago. It could be very exciting, but unfortunately no renders or official proposal yet.
What is most exciting is that once it's approved, it will shoot into the sky very quickly. They would be able to do the structural reinforcements to the existing parking structure before the BP is approved. I just hope they high-ball the height. The 2010s proposal on the site was a pretty dinky little 20 ish-storey office. So, we'll see.
But yes we are aware of the original proposal, the 2010s proposal, and someone posted about this latest vision a few weeks ago. It could be very exciting, but unfortunately no renders or official proposal yet.
What is most exciting is that once it's approved, it will shoot into the sky very quickly. They would be able to do the structural reinforcements to the existing parking structure before the BP is approved. I just hope they high-ball the height. The 2010s proposal on the site was a pretty dinky little 20 ish-storey office. So, we'll see.
O-tac
Active Member
Not sure if this has been posted yet, but a residential twin is being discussed by the new owner of the First Canadian Centre (BMO tower) downtown.
storeys.com
Edit: oops I see I’m late.
Armco Buys First Canadian Centre In Calgary For $46.5M, Planning Second Tower
The First Canadian Centre sits at 350 7 Ave SW in Calgary and was acquired by G2S2 Capital Inc. through Armco Capital Inc.
storeys.com
Edit: oops I see I’m late.
CallmeCatbread
New Member
Currently salivating at the thought of a 70 storey tower clad in the same granite 
AtlanticAvenue
Active Member
Pretty great spot for a 70 story residential tower.
Dead centre in the heart of the city, shopping mall and indoor park across the street, EB Red/ Blue line station to the south and WB a block west. and a future Green Line station.
Bonus +15 access.
Edit: If they do match the colour palette and style of the first tower, those big square windows would be amazing for an apartment.
Dead centre in the heart of the city, shopping mall and indoor park across the street, EB Red/ Blue line station to the south and WB a block west. and a future Green Line station.
Bonus +15 access.
Edit: If they do match the colour palette and style of the first tower, those big square windows would be amazing for an apartment.
O-tac
Active Member
Currently salivating at the thought of a 70 storey tower clad in the same granite
It will more likely be clad in spandrel.
CBBarnett
Senior Member
This part jumped out to me:Armco Buys First Canadian Centre In Calgary For $46.5M, Planning Second Tower
The First Canadian Centre sits at 350 7 Ave SW in Calgary and was acquired by G2S2 Capital Inc. through Armco Capital Inc.
I saw this article about First Canadian Centre on Reddit.
Fun fact: there was originally 2 towers proposed, but only the one was built. Armco seems to be interested in building a mixed-use/residential tower on the lot that was originally for the second tower.
Anyone has any thoughts on this?
Purchase price was $46,500,000, according to commercial real estate brokerage Avison Young, who brokered the sale on behalf of GWL Realty Advisors, which acquired the property from the Bank of Montreal in 2005 for a reported $188 million.
Seems like some more realistic valuations of office buildings are helping spur some more opportunities. It's been a long time waiting for those over-priced buildings to water down to something that transacts. Exciting to watch a new era in downtown get (slowly) started.
Albertasaurus
Active Member
I'm not going to hold out hope for 70 storeys, but I would think to make purchasing that site worthwhile, probably as a bare minimum they'd be looking at 40 storeys (and more likely at least 50). It'd just be nice to see something go up on that site after 40 years.