Eau Claire Market Redevelopment | 135.02m | 35s | Harvard Developments

Rating of the development

  • 1 Really Good

    Votes: 12 23.5%

  • 2 Not Bad

    Votes: 11 21.6%

  • 3 So So

    Votes: 16 31.4%

  • 4 Not Good

    Votes: 9 17.6%

  • 5 Terrible

    Votes: 3 5.9%
  • Total voters
    51
It's been approved, so not much left except to start construction. Before that can even happen, the stores need to be given notice and the existing building demo'd

PrairiePeaks said:
Hi all,

Any word on the Eau Claire redevelopment?. Seems as though all the pieces are in place to start this project. Is there a timeline?
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Hi All,

Will It Still B 5 Bldgs Going Up Once this Whole Project is Completed in a few Years Time?

Tnx,
Operater,
 
I'm guessing nobody has heard anything on this or they would have mentioned it. Taking another look at the plans, I kind of hope it doesn't go ahead. It's too much of a master planned development IMO. It would be better if the city took it back and re-tendered selling off chunks to different developers.
 
Cowtown said:
I'm guessing nobody has heard anything on this or they would have mentioned it. Taking another look at the plans, I kind of hope it doesn't go ahead. It's too much of a master planned development IMO. It would be better if the city took it back and re-tendered selling off chunks to different developers.
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I don't mind having such a massive project in the city made by a single developer, but of all locations, why there? There's plenty of massive, empty parking lots in the city that could be developed instead without anything being torn down. Hell, there's two MASSIVE parking lots literally a block down west from the current proposed site. All that parking could be placed underground and the project be built on top with no size lost.
 
The concept is for office + condos + retail. All of which there is an abundance of unsold/not leased space, in downtown Calgary right now. There are no positive economic signs that I see, that would suggest a project of this scope is going start in the next 12-18 months.
 
Platopos said:
I don't mind having such a massive project in the city made by a single developer, but of all locations, why there? There's plenty of massive, empty parking lots in the city that could be developed instead without anything being torn down. Hell, there's two MASSIVE parking lots literally a block down west from the current proposed site. All that parking could be placed underground and the project be built on top with no size lost.
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Funny enough there is/was a proposal for those parking lots that was something like 10 towers (rental and market if I recall). I think GWL was behind it. Not sure on the status of it now.
 
Surrealplaces said:
Yeah this one here
https://calgary.skyrisecities.com/database/projects/eau-claire-west

I don't recall where I heard it, but I recall hearing that it was shelved.
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I was talking to someone at GWL Realty a few months ago. This project is now being managed by QuadReal which is a consolidated company of GWL & Bentall Kennedy and others, managing and growing pension fund assets.

https://calgaryherald.com/business/real-estate/parker-quadreal-opens-calgary-office

These were going to be rentals and I think they missed the boat by not getting some of the buildings started in 2017 as planned, given all of the other rental construction that is going on right now.
 
The last I heard they were approaching various groups to try and find a partner to actually fund the project. Having approvals in place is one thing but actually executing the project is another. I heard from a direct source that they approached the developer of the adjacent Waterfront project to join in as a partner and they were turned away.
 
Calbusier said:
The last I heard they were approaching various groups to try and find a partner to actually fund the project. Having approvals in place is one thing but actually executing the project is another. I heard from a direct source that they approached the developer of the adjacent Waterfront project to join in as a partner and they were turned away.
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Maybe they will partner with Cidex and we can get "The Hat @ Eau Claire".

In all seriousness, looking at Harvard's portfolio, it doesn't look like they have the expertise or background to pull this development off. Too bad Anthem turned them away, that would've been an good partner. In an ideal world, Westbank would take this project over.
 
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