Great Gulf Group of Companies has bought an entire downtown block in Calgary from the YMCA.
The developer is planning a pedestrian-oriented development with four towers, primarily residential, with a major retail podium, boutique office space and a public plaza.
“The opportunity to buy an entire city block in one of North America’s dynamic cities within the central business district is pretty rare,” said Christopher Wein, president of Great Gulf. “We believe strongly in the long-term value and growth and dynamism of Calgary.
The location is ideal with city transit, the new central library, the new National Music Centre, Bow Valley College and the Bow River in close proximity, he said. Architectural plans for the site will be released in the first quarter of 2017.
