Ground broken for new project in Calgary’s burgeoning East Village
The 18-story FIRST residential tower– originally unveiled in March 2012 – has officially broken ground. The 196-unit project, being built by FRAM+Slokker, represents approximately 200,000 square feet of development in Calgary’s new East Village. “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,” said Fred Serrafero, vice president of development at Mississauga-based FRAM Building Group.
Early in 2010, FRAM Building Group, Slokker Real Estate Group, and 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). 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.
FRAM+Slokker is working with project architect Giannone Petricone Architects of Toronto on refining design details of the next phase of this development, with 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.”