Marda Loop is going to have a new kid on the block. Calgary's Strategic Group is getting ready to start construction on 'Marda', a six-floor, 66-unit mixed-use project on the southwest corner of 34th Avenue and 20th Street SW.
The building, designed by NORR Architects, and to be constructed by Strategic Builders, will be the first purpose-built rental building in the Marda Loop area, and will feature 8,900 square feet of retail space at the main level with residential units above. Retail units will face both 20th Street and 34th Avenue.
We recently caught up with Randy Ferguson, Chief Operating Officer of Strategic Group, to discuss the project. Ferguson, excited about the project's impending construction, sees the Marda Loop as a great location for the firm's next venture. He singled out the neighbourhood's "village feel," similar in vibe to other areas such as Kensington and Mission, and also spotlighted the inherent potential of the area. While Marda Loop may already be a sought-after area, it's only going to get better.
Another reason for Strategic's decision to develop in Marda Loop is what the company identified as a lack of upscale rental stock in the area. While there are upscale condominiums in the neighbourhood, it suffers from a deficit in upscale rental buildings.
Demolition at the site has begun and construction is to commence immediately once the property has been cleared. It's expected to take approximately 18 months to finish with completion set for early 2019. This is the third Calgary project for Strategic Builders, after completing Centro and One6.
|Related Companies:||NORR Architects, Strategic Group|