Over $1B in major Calgary building projects to be completed or started this year, says CMLC
Several major building projects totalling over $1 billion will either be completed or kicked off by the end of this year, says the Calgary Municipal Land Corporation in its 2024 outlook this week.
The city-owned CMLC said it's preparing for a year of milestones in the East Village and downtown.
"We always say that every year can't get busier, but apparently it does," said Kate Thompson, the president and CEO of the agency.
She said 2018 "was a really big year for us opening the [Central Library], but this is definitely a bigger year for us in terms of completion of projects."
Here's an overview of what projects are set to wrap up in 2024, and which ones will get underway.
East Village
CMLC said it will continue to oversee the development of several mixed-use residential projects in East Village, including the development of 337 condo units in the Arris building on Third Street S.E.
The agency said construction is underway at Riverfront Avenue and Confluence Way S.E., where a six-storey building will feature 44 residential units and 9,000 square feet of retail space.
Thompson said CMLC has seen "sustained development interest" in East Village. It plans to advance several letters of intent received for various parcels in the district this year.
Arts Commons and Olympic Plaza
On behalf of Arts Commons and the City of Calgary, CMLC will spearhead both the Arts Commons and Olympic Plaza redevelopments.
Thompson said Calgarians will see the design for the new Arts Commons space later this spring, and it's expected to break ground on the expansion later this year.
The project will add a building to the existing Arts Commons footprint. The new structure will house a 1,000-seat theatre and a 200-seat studio theatre.
CMLC said it is still in the design phase of the Olympic Plaza redevelopment, but it has plans to integrate the area into the Arts Commons campus.
Culture and Entertainment District
Perhaps the most anticipated project under CMLC's purview will cross the finish line this year, with the BMO Centre expansion set to open in time for Stampede 2024 (July 5-14).
The Victoria Park/Stampede LRT station rebuild, as well as the 17th Avenue S.E. extension, are expected to be completed this summer.
CMLC said these projects total more than $600 million.
"The BMO Centre will really allow Calgary to show itself and really become a hosting venue for many different meetings and conferences and bringing different people, visitors and Calgarians alike, to this amazing space," said Thompson.
A development map of Calgary's East Village. (Submitted by Calgary Municipal Land Corporation)
She added that all of the infrastructure surrounding the BMO Centre allowing it to be accessed by foot, bike and car will also be in place by the summer.
To support the BMO Centre expansion as well as the planned future event centre site along Stampede Trail, CMLC will do advance work in 2024 on the Sixth Street S.E. underpass.
Thompson said the underpass falls within an integral part of the CMLC's work in the culture and entertainment district, which is "understanding how we get in and out."
CMLC will issue a request for proposal in the coming weeks for the underpass, and said the overall construction schedule will be refined.
