Vancouver-based Hungerford Properties plans to transform what was once Calgary’s largest manufacturing plant into a massive business park by this summer.
Hungerford bought the 761,000-square-foot facility on more than 18 hectares of land last summer and said it will unveil its plans in early February to redevelop and redesign the property into the ICON Business Park.
The Haworth property is considered one of the finest commercial real estate properties in the city, said Michael Hungerford, partner with the company. “But it’s been a dormant shell for many years. We’re bringing back the trucks. We’re bringing back the people. We’re bringing business back.”
U.S.-based Haworth, a furniture manufacturer, bought the state-of-the-art building in 1999 but closed it in 2009 and moved its manufacturing facilities, and 600 jobs, to Michigan.
The property had been assessed at $60 million when it was first listed in 2010. The sale price to Hungerford was not released.
ICON will house about 15 industrial tenants, Hungerford estimated. The building will offer flexible workspace of up to 676,000 square feet in warehousing and 85,000 square feet in office space.
