It takes a pioneer to make a village, and as the journey of East Village advances, we’re attracting great character.
That’s the case with our first developers, Bosa Development Corp. and Embassy Development, which signed a deal to deliver approximately 700,000 square feet of new multi-family residential and retail to East Village worth some $300 million.
“This is a turning point in our history and a transformative moment for East Village,” says Chris Ollenberger, CMLC President and CEO.
Bosa and Embassy, headquartered in Vancouver, are expert in creating mid-rise, mixed-use communities. Bosa work in Calgary includes the Barclay, the Marquis, Axxiss and Liberte. EV is Embassy’s first foray into Calgary. “We’re thrilled about the opportunity to redefine a whole new neighbourhood in an older part of town,” says Ryan Bosa, Embassy president. “The Embassy brand has become synonymous with young, hip, smart design and Calgary’s East Village will boast a population of young, well-educated professionals who have a desire to be close to the action of downtown.”
The announcement demonstrates private sector commitment to rejuvenate East Village. In April of 2010, CMLC began identifying suitable developer partners for East Village – companies that had demonstrated expertise with inner city brownfield development and whose brand reputation and project experience was notable for its design excellence, green practices, customer service and financial steadfastness.
The Bosa/Embassy project for East Village is anticipated to deliver approximately 600 new residential units over five years, with pre-sales beginning in early 2012 and inititial residential occupancies planned by late 2013.