An additional $300 million in development and as many 500 new condos are slated for East Village after a partnership announcement between RioCan Investment Trust and Embassy BOSA including a Loblaws grocery store.
“Calgary is on the tipping point right now, with condo living becoming a more sought after alternative to suburban life,” said Ryan Bosa, president of Embassy BOSA. “The future of Calgary is up not out, and developments like the East Village showcase how Calgary is creating vibrant, sustainable communities.”
The new investment will be bring the total number of committed units int he East Village to 1,100. Embassy BOSA already has a strong presence in the community with $325 million of mixed-use, multi-family offerings.
“This new investment is a powerful testament to the momentum we’ve created here in East Village,” said Michael Brown, president and CEO, Calgary Municipal Land Corporation. “We have now attracted more than $2.2 billion of investment to the neighbourhood and over 80 per cent of our land inventory is now committed.
Read more in the Sept. 26 issue of the CREBNow real estate news.