Calgary’s iconic Red Mile is set to undergo massive change with the construction of three high-rise towers on the corner of 17 Avenue and Fourth Street S.W.
Vesta Properties unveiled plans for the mixed-use buildings on Monday.
The development – called Broadway on 17th – will see the tallest of the three towers hit a whopping 47 storeys with an estimated 300 rental units and more than 700 units for sale – including studio, one-bedroom, two-bedroom, three-bedroom and penthouse suites.
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According to Vesta, the new development will be the tallest residential tower community in Calgary.
It will also include more than 70,000 square feet of commercial space, including retail and dining establishments.
“As we expand our presence in Calgary, Broadway represents our vision for the future - a vibrant community located in one of the most iconic areas of downtown,” said Kent Sillars, Vesta Properties president, in a news release.
“This redevelopment is poised to redefine Calgary’s Beltline, setting a new standard for downtown living.”
Peter Oliver, the director of the Beltline Neighbourhoods Association, says it’s an exciting project.
“We all know that housing affordability and availability in the city has become very tight in the last few years,” he said, adding that the variety of units available should be beneficial to Calgarians.
As for the height of the structure, Oliver says the Beltline is no stranger to buildings in the 30-to-40-storey height range.
“What’s actually more important is the way it’s integrated into the surrounding [area]. In the case of this project, they’ve moved the taller of towers close to the downtown and put the shorter towers closer to 17th.”
In addition to residential units, the site will have a southwest-facing plaza that Vesta says is “designed to enhance walkability and connectivity.”
Jordan Marr, general manager of Calgary’s Elephant and Castle, which sits across the street from the site, says she presumes it will take away a bit of their business while it’s being built, but anticipates the influx of people living in the area will help them in the long run.
“I think it’s going to increase our sales highly,” she said, calling it a “very big win” for the business.
The name of the structure pays tribute to Fourth Street S.W, which used to be named Broadway.
The residential units will have access to on-site amenities like a fitness facility and co-working environments.
For more information you can visit Broadwayon17.com.
- With files from Tyler Barrow
