Another downtown Calgary block slated for demolition
Cadillac Fairview plans 37-storey office tower
By MARIO TONEGUZZI, CALGARY HERALD January 15, 2012
CALGARY — Another downtown city block is facing demolition to make way for a new million-square-foot office tower, the Herald has learned.
Cadillac Fairview is preparing its Calgary City Centre project, between 2nd and 3rd Avenues S.W. and 2nd and 3rd Streets in Eau Claire, to construct the first phase of development which will include a 37-storey office and retail skyscraper.
Tenants have been notified they will have to vacate the premises of a one-storey building on the east side of the block so demolition can start to take place.
“Hoarding is currently being designed and erection will commence in the next 30 days. Demolition of the existing (Century Square) buildings will commence shortly thereafter,” confirmed Wayne Barwise, executive vice-president of development for Cadillac Fairview.
He said the company has a development permit for both Phase 1 and Phase 2, which would include a 700,000-square-foot hotel and condominium residences with a retail podium.
“We are currently finalizing construction prices for Phase 1 with construction trades and suppliers. We will be making an announcement shortly with respect to the construction commencement date, as well as the key lead tenants for the building,” said Barwise.
“Calgary has experienced tremendous office absorption in the past 12 months and vacancy rates for downtown Class AA office premises has fallen to three per cent. Accordingly, there is market demand, and businesses are looking to expand and relocate to new state-of-the-art, energy-efficient buildings. There is great interest in Calgary City Centre, which upon completion will transform an entire city block into an approximate $1 billion mixed-use complex that will stitch together four city blocks and create a vibrant urban centre.”
Phase 2 of the project is still in the discussion stage, he added…
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Image 1 & 2:
Artist rendering of plans for a development downtown called Calgary City Centre.
Photograph by: Courtesy of Cadillac Fairview, Handout