Another Residential Development Breaks Ground in East Village
Less than a decade after Calgary Municipal Land Corporation (CMLC) accepted the challenge of redeveloping and revitalizing East Village and the Rivers District, Calgary’s original neighbourhood is rising rapidly skyward as one of Calgary’s most sought-after inner-city neighbourhoods.
And as FRAM+Slokker breaks ground on another East Village condominium tower, the array of cranes and construction vehicles in full swing in downtown Calgary’s east end is set to grow once again.
The 288-unit tower, called Verve, is the first residential project along The Riff – the diagonal thoroughfare through East Village that connects residents from the southwest side near the new National Music Centre to the landing of St. Patrick’s Bridge on the opposite side of the neighbourhood.
“FRAM+Slokker is one of the pioneer developers in the East Village redevelopment,” says Michael Brown, CMLC President & CEO. “In 2011, they became the second developer partner to purchase land here. They subsequently built FIRST – a condo tower that was completed last summer and is now fully occupied”
With a total project value is $125 million, Verve is scheduled for completion in fall 2018 (coinciding with the completion of the New Central Library in East Village). Of Verve’s 288 condominium homes, all but 53 have already been sold.
“Today’s groundbreaking marks the second major construction milestone in East Village this year, coming closely on the heels of the start of construction on a collaborative mixed-use project by commercial real estate giant RioCan and Embassy BOSA. The ever-accelerating pace of development here in East Village really speaks to the power of CMLC’s master-plan vision for the neighbourhood. We are breaking ground on four projects this year, so there’s more coming”, states Brown.
“East Village offers the convenience of downtown living in an appealing urban setting that caters to a wide range of homeowners”, says Fred Serrafero, Vice President Development & Construction at the FRAM Building Group. FRAM+Slokker is excited to be part of the neighbourhood’s redevelopment with the construction of Verve in one of the most unique locations in East Village along The Riff. We’re delighted to be able to say it’s the first of multiple phased buildings that will be built on this premier location”.
Even as FRAM+Slokker gets underway with construction on Verve, they are planning their next East Village residential project called Vibe which is slated to launch sales next year. Located adjacent to Verve, Vibe will be a mid-rise building with smaller one and two-bedroom suites.