New East Village Developer to Build Commercial Project Along River's Edge
Another exciting first in fulfilling the East Village retail strategy
CMLC sells land for new commercial space along RiverWalk™ – an innovative project by the neighbourhood’s first female developer
(CALGARY, AB) – In 2007, Calgary Municipal Land Corporation (CMLC) began a transformation in East Village – one that has changed the way Calgarians are thinking about downtown living and inner-city life.
Today, we’re thrilled to announce that CMLC’s vision for East Village has taken another huge stride forward with the sale of development parcel M2 – a quarter-acre (10,872 square feet) lot immediately east of the historic Simmons Building along the newly redeveloped RiverWalk – to Calgary’s XYC Design + Development.
“M2 is a highly visible site, and even though it’s small, it will have a huge presence in East Village,” says Kate MacGregor, President of XYC Design + Development here in Calgary, who also works as an architectural designer with nArchitects in New York City.
With degrees in civil engineering and architecture, Kate comes by her passion for development honestly: as a fifth generation Calgarian, her family has been building and developing projects in Alberta for decades. After working at architecture firms in New York, Kate founded XYC to bring world-class architecture to challenging, prominent sites here at home. She is committed to bringing the best in contemporary design to Calgary’s next generation of buildings, and has assembled a talented team based in Calgary and in New York.
“The prominent location is ideal for what we intend to develop – namely, village-style retail space with restaurants along the ground level and unique office space above. This won’t just be an amenity for the neighbourhood, it will be a destination for all Calgarians,” says Kate.
“Kate and her design symbolize the energy and vision that are transforming East Village,” says Michael Brown, President & CEO, CMLC. “Her fresh ideas and eagerness to contribute to the evolution of Calgary – her hometown – are contagious.
“Beyond that, Kate’s project represents an important step toward our realization of the East Village retail strategy, which envisions a complementary mix of ‘village format’ retail and ‘urban scaled’ retail across a total commercial footprint of 411,500 square feet.”
The project by XYC Design + Development will yield between 17,000 to 20,000 square feet of village-format retail and office space that fronts onto RiverWalk and the beautiful Bow River. Restaurants on the main floor will spill out onto RiverWalk’s public promenade, to create an engaging, vibrant building.
XYC Design + Development is currently finalizing files for their Development Permit Application, which they expect to submit early in the new year. Says Kate, “We’re searching for tenants who appreciate the value of great design, and are excited to be a part of the coolest new neighbourhood in Calgary,”
Imagined as a mixed-use, amenity-rich master-planned neighbourhood in the downtown core, East Village will be home to more than 11,000 residents upon completion in 2027. With local amenities like RiverWalk, St. Patrick’s Island Park, the New Central Library, National Music Centre and an urban shopping centre, East Village has become a highly desirable neighbourhood in Calgary’s downtown core.