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Thanks to a 3.5% population growth rate in 2014, Calgary is Canada's fastest growing metropolis with more than 1.5 million people living within the city's census metropolitan area. This influx of new residents is having an impact on Calgary's housing prices, as the average price for a home in the city was $465,386 as of August 2015. As a result, many buyers, especially young professionals but also empty nesters and single-parent families, are turning their back on the traditional suburban detached family home and choosing a more urban lifestyle closer to the downtown neighbourhoods and amenities they offer. Over the next few weeks, we'll be taking a look at the major projects under construction in the central neighbourhoods of Canada's energy capital.
Downtown Commercial Core
The Downtown Commercial Core is Calgary's most central neighbourhood. While it is mostly business oriented, more than 8,015 people were also living in the area in 2012. Several housing projects will significantly increase this number over the next few years.
Brookfield Place: Designed by Arney Fender Katsalidis Architects and Dialog Architects, it consists of two towers of 56 and 42 storeys. Taking up the whole city block located between 1st and 2nd Streets and 6th and 7th Avenues SW, this single project will add more than more than 2.4 million square feet of office space to the area. When completed in 2018, the 56-storey, 247-metre edifice will become Calgary's tallest.
Telus Sky: One block east from there, Westbank Project Corp. is redeveloping the corner of 7th Avenue SW and Centre Street South with a 221-metre mixed-used tower designed by the Bjarke Ingels Group. With its recognizable smooth shape that is designed to accommodate efficient work spaces in the lower portion thanks to expansive floor plates, and luminous residential units on the upper half thanks to a thinner silouette, it will undoubtedly become a local landmark.
707 Fifth Street: With a compelling look designed by Skidmore, Owings & Merrill LLP (SOM), this 27-storey office tower will eventually offer 564,350 square feet of rentable area in the southern part of the business district. Its design will add some welcomed curves to an otherwise orthogonal neighbourhood and benefit from direct access to public transit. To accommodate a growing crowd of cyclists, the tower will feature 132 bicycle parking spots and 13 rider showers. Delivery is scheduled for 2017.
Eau Claire
Eau Claire is a rapidly developing neighbourhood located immediately north of the core, on the banks of the Bow River. In 2012, it had a population of 1,851, which represents an 8.2% increase from its 2011 population of 1,711. With a median income more than twice that of the downtown core, the area is home to several luxury condominium projects.
Calgary City Centre: Consisting of a 47-storey office tower and a 36-storey residential component, this development will combine world-class office spaces and luxury residences and hotel rooms at the corner of 3rd Avenue SW and 2nd Street SW. While the office component is on its way to completion, the Zeidler Partnership Architects and BKDI Architects-designed residential tower is yet to be built.
Eau Claire Tower: A few blocks west at 600 3rd Avenue SW, Oxford Properties is building a 25-floor office building with 613,000 square feet of rentable space. Designed by B+H Architects, it will be completed in 2016 and conform to LEED Gold Standards. On the upper levels, office workers will enjoy unobstructed views of the Rocky Mountains, the Bow River, and the surrounding city.
Check back on Friday for another story about the development of Calgary's downtown neighbourhoods. Meanwhile, additional information and renderings about the projects featured in this article can be found in our dataBase, linked below. Want to get involved in the discussion? Check out the associated Forum threads, or leave a comment using the space provided at the bottom of this page.
| Related Companies: | B+H Architects, EllisDon, PCL Construction, Walters Group, Zeidler Architecture |
