News   Apr 03, 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.
 

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