News   Apr 03, 2020
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News   Apr 02, 2020
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News   Apr 02, 2020
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General Construction Updates

  • Calgary Co-op has closed on the acquisition of a prime piece of property on the corner of Macleod Trail and 58th Avenue S.W. Today, Chinook Plaza is a strip mall with 30 long-term tenants and the Co-op intends to continue in the role of landlord for some time, but the 2.3 acres of land immediately north of Chinook Centre has great potential as a future mixed-use development.

That strip mall is actually quite successful since it was refaced, I struggle to see how a mixed use is a higher value for that site. Har-Par sold their cigarette-burn portfolio behind Chinook and surrounding area earlier this year at a valuation of $208,000 / door. Proximity to that train station has pretty much zero mixed use value because it is too far away.
 
New Tower proposed for Beltline. So far the only info is the name of the tower, Avriluno Plaza. More info to come.

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