Whoever said you don’t get a second chance to make a first impression, was obviously not describing the FIRST residential project in East Village by builder FRAM+Slokker. In March 2012, FIRST – an 18 story, 196 unit, residential tower, representing approximately 200,000 sq. ft. of development was previewed to the Calgary marketplace. Now, less than one year later the project is breaking ground, signaling that buyers are truly impressed by what they have seen.
“We’re kicking off the new year with a bang,” says Fred Serrafero, Vice President, Development, FRAM Building Group. “Calgary is a unique market; we have enjoyed a great response to our initial product offering and now with permitting in place, we are starting construction immediately,” he added. “It’s a great day for our buyers and for the redevelopment of this master planned urban village.”
Early in 2010, Ontario-based FRAM Building Group and Slokker Real Estate Group (FRAM + Slokker) together with TRICON Capital Group joined Vancouver developer Embassy BOSA to pioneer new multi-family development within East Village. Together the developers represent approximately $650 Million of private investment for East Village and specifically the FRAM+Slokker projects represent some 700 new residential units and approximately 730,000 square feet of new mixed-use development.
“This year Calgarians will see significant advancement in the community as projects like FIRST, the National Music Centre and St. Patrick’s Island redevelopment break ground, thus forever changing the face of East Village”, said Michael Brown, president and CEO, Calgary Municipal Land Corporation (CMLC). ”CMLC has been advancing our master plan vision for this downtown community since 2007 and while there remains a lot of work to do, we are very proud to welcome new residents into East Village by early 2015,” he added.
FIRST, located at 550 Riverfront Avenue SE, is a full amenity condominium development offering a rooftop lounge and outdoor patio with beautiful views of the Bow River; a landscaped courtyard and green roof, residents’ fitness centre, yoga studio, and bike parking. Construction timeline is anticipated at 22 months.
As evidenced by consumer response, the 1-bed, 1.5-bath, 690 sq. ft. floor plan, as shown in the EV Experience Centre show suite, has sold out. Meanwhile, FRAM+Slokker, together with project architect Giannone Petricone Architects of Toronto, are refining design details on the next phase of their development to ensure it is keeping pace with the needs of the Calgary marketplace. Product introduction and pre-sales are planned for spring 2013.
“Under the leadership of the professional and dedicated team of CMLC, East Village is becoming a remarkable new neighbourhood in downtown Calgary,” added Serrafero. ”Critical to our success is the complimentary work that is being done by CMLC to program the public realm with one-of-a-kind community events. These activities are bringing a lot of Calgarians into the neighbourhood, all of whom are interested in understanding more about the transformation taking place here and to see our vision for residential living in the community.”
The vision for East Village, unveiled in 2009, is that of a thriving, mixed-use, inner city community. The area will boast key cultural and recreational amenities, with an emphasis on riverfront development and character neighbourhoods. East Village is expected to be home to more than 11,000 residents by build-out.
Based in Mississauga, Ontario, FRAM Building Group is an award-winning developer renowned for its creativity in planning, designing and development of premier residential communities in Ontario and the USA. Along with its group of highly motivated management and construction professionals, FRAM has successfully built over 11,000 residences from custom homes to exceptional single family, multi-family, condominium and rental homes, as well as mixed-used developments and commercial properties.