Calgary’s East Village development has announced its first major commercial project for the area just east of the downtown — a 315-room Hilton hotel.
Calgary Municipal Land Corporation announced Tuesday that the estimated value of the project is $75 million and it will see Widewaters Group, a USA-based commercial real estate development firm, build a dual branded Hilton along the 4th Street S.E. commercial node of East Village.
It will be situated at the corner of 7th Avenue and 4th Street S.E.
The proposed East Village Hilton project is a 208,000-square-foot, 14-storey, full-service hotel which combines the brands of Hilton Garden Inn and Homewood Inn and Suites under one roof. The project contains a south-facing rooftop terrace with pool and fitness facilities, together with library and convention services and two levels of underground parking.
The Widewaters Group, with offices in Syracuse, NY, Charlotte, NC and Park City, Utah, is a real estate development and management company that has extensive experience in the development of retail, hospitality and office projects throughout the United States and Canada. Across eight eastern American states and three Canadian provinces, the Widewaters Group hospitality portfolio represents $1.16 billion of investment and over 2,500 hotel rooms.
“We’re pleased to welcome Widewaters Group to the team of developer partners who are transforming East Village into a complete inner-city neighbourhood,” said Michael Brown, president and chief executive of CMLC. “This project is a great complement to the multi-family projects currently underway in East Village.”
Brown said the hotel is another piece of the amenity puzzle.
“When you look at a great community and an urban village, you can’t just build residential units. We all know that,” said Brown. “You need to look at providing amenities.
“When you look at the east end of downtown, one of the key pieces that are missing – it doesn’t matter if you East Village, Bridgeland, Inglewood or Victoria Park – is really having a strong grocery presence. So creating some retail opportunities is something we’re very much focused on.”
Ed Shagen, director of development for Widewaters, said Calgary is among North America’s strongest performing economies.
“We chose to invest in East Village because we could see its potential as both a tourist destination and a new commercial core for Calgary,” he said.
Shagen said the company plans on submitting a development permit this summer with the hope of starting construction in early 2013 with an opening in the summer or fall of 2014.
“We thought it was a unique opportunity. I have not experienced a redevelopment area that’s immediately adjacent to a downtown core that has had a tremendous amount of infrastructure completed and in a city that is as economically strong as Calgary is.”
He said the hotel location was a logical place because of its connectivity on 4th Street.
“Given where it is, we felt we could come out of the ground immediately without having to rely on future development to dictate when we start . . . Everything that comes in the future is just a bonus to us because we think it’s viable as it is today.”
In the past 24 months, CMLC has signed land development deals with Vancouver-based Embassy Bosa Inc. and Ontario-based FRAM+SLOKKER for a combined 1.2 million square feet of new mixed-use development in East Village.
CMLC has now attracted over $725 million of planned private investment to the area.
The vision for East Village, unveiled in 2009, is that of a mixed-use, inner-city community for 11,000 new residents. The area boasts key cultural and recreational amenities, such as the National Music Centre, RiverWalk, St. Patrick’s Island and the proposed New Central Library.
The Widewaters Group, with offices in Syracuse, NY, Charlotte, NC and Park City, Utah, is a real estate development and management company that has extensive experience in the development of retail, hospitality and office projects throughout the United States and Canada. Across eight eastern American states and three Canadian provinces, the Widewaters Group hospitality portfolio represents $1.16 billion of investment and over 2,500 hotel rooms.
“We’re pleased to welcome Widewaters Group to the team of developer partners who are transforming East Village into a complete inner-city neighbourhood,” said Michael Brown, president and chief executive of CMLC. “This project is a great complement to the multi-family projects currently underway in East Village.”
Brown said the hotel is another piece of the amenity puzzle.
“When you look at a great community and an urban village, you can’t just build residential units. We all know that,” said Brown. “You need to look at providing amenities.
“When you look at the east end of downtown, one of the key pieces that are missing – it doesn’t matter if you East Village, Bridgeland, Inglewood or Victoria Park – is really having a strong grocery presence. So creating some retail opportunities is something we’re very much focused on.”
Ed Shagen, director of development for Widewaters, said Calgary is among North America’s strongest performing economies.
“We chose to invest in East Village because we could see its potential as both a tourist destination and a new commercial core for Calgary,” he said.
Shagen said the company plans on submitting a development permit this summer with the hope of starting construction in early 2013 with an opening in the summer or fall of 2014.
“We thought it was a unique opportunity. I have not experienced a redevelopment area that’s immediately adjacent to a downtown core that has had a tremendous amount of infrastructure completed and in a city that is as economically strong as Calgary is.”
He said the hotel location was a logical place because of its connectivity on 4th Street.
“Given where it is, we felt we could come out of the ground immediately without having to rely on future development to dictate when we start . . . Everything that comes in the future is just a bonus to us because we think it’s viable as it is today.”
In the past 24 months, CMLC has signed land development deals with Vancouver-based Embassy Bosa Inc. and Ontario-based FRAM+SLOKKER for a combined 1.2 million square feet of new mixed-use development in East Village.
CMLC has now attracted over $725 million of planned private investment to the area.
The vision for East Village, unveiled in 2009, is that of a mixed-use, inner-city community for 11,000 new residents. The area boasts key cultural and recreational amenities, such as the National Music Centre, RiverWalk, St. Patrick’s Island and the proposed New Central Library.
0 comments on “Hilton Hotel planned as first major commercial project for Calgary’s East Village”