In April 2013, CMLC finalized the sale of the former Calgary Police Association lands (Gateway block) to RioCan. Canada’s largest Real Estate Investment Trust, RioCan develops, owns and manages a variety of urban and suburban shopping centres across Canada.
On the 2.75-acre site RioCan developed an urban retail centre named 5th & THIRD. Within the 178,000 sq ft of retail space including a new urban-format Superstore, occupying 80,000 sq. ft, in addition to an Olympia Liquor, Winners, TD Bank, Scotiabank and others.
The RioCan project provides a strong underpinning for the success of CMLC’s redevelopment efforts, as a strong retail dimension in East Village will stimulate the sales programs being advanced by our residential development partners, and it will help sway prospective residents as they consider East Village as a place to call home.
In September 2014, RioCan announced a new partnership with Bosa Development, who built two residential towers, called ‘Arris’, with approximately 600 units atop 5th & THIRD. Construction of the retail centre was completed in 2019 and welcomed it’s first retailers in spring 2020.