Calgary Municipal Land Corporation announced ONE Properties as East Village’s newest development partner. Two new mixed-use towers will complete Q Block on the neighbourhood’s east side, representing an approximate private investment value of $250M to the community.
Over the last decade, the Alberta-based developer has delivered about 2,500 residential units to the Alberta marketplace with an extra 3,500 homes currently in the planning and development stages. Q Block will mark ONE’s second major development in Calgary’s Rivers Direct, following the opening of BLVD Beltline in 2021, and will play a critical role in the continued evolution of Calgary’s urban core.
“We’ve seen Calgary’s East Village thrive in recent years as more Calgarians look to live, work and play in the heart of downtown,” says Thomas Burr, ONE Properties’ Vice President of Mixed-Use Development – Western Canada. “Alongside CMLC, ONE looks forward to introducing even more options for Calgarians to be a part of this exciting, growing neighbourhood.”
Parcels Q3 and Q4 will front onto amenity-rich Fort Calgary Park, overlooking the community gardens, children’s playground, East Village dog park and Bow River. When complete, ONE Properties’ new towers will be home to approximately 750 new residents.
Q Block is a mixed-use block featuring residential, commercial, retail, food and beverage offerings at street-level along The Riff, a high-quality pedestrian street that connects the block to Jack & Jean Leslie RiverWalk, George C King Bridge, St. Patrick’s Island and The City’s regional pathway system. The new ONE Properties towers will complete Q Block, which is already home to 291 condo units at Verve by FRAM + Slokker and another 160 units to be built in FRAM + Slokker’s forthcoming Vibe condo project.
This is the second land partnership signed in East Village in 2022, and there is a growing pipeline of development projects launching in East Village the coming years.
With 300 new apartments already under construction at BOSA Development’s second Arris tower, CMLC anticipates two developments to break ground in 2023, including the recently announced Minto Communities Vita project and Alston Properties’ EV606 project which, together, will bring 144 new residential units and 9,000 additional square feet of retail space to East Village.
