Riocan REIT's 5th and Third project reached a new milestone recently with the installation of exterior cladding. The East Village project, under construction since mid-2016, is now moving into its final stages as glass windows and spandrel panels have now begun to appear.
On the surface, the Amanat Architect- and Gibbs Gage-designed project has at times appeared to be progressing slowly, taking longer than would expected for a two-storey retail building, but behind the scenes the project is a large and complex build. The overall plan for the building is to have two residential towers stacked on top of the podium, which in turn would allow for a large underground parking garage. Much of the work has involved excavation and foundation work, which for a site this large can take some time. The above ground portion is not a typical retail building either, as it is a concrete structure needed for suture support and integration of the Embassy Bosa developed residential towers.
Once competed, 5th and Third will house East Village's first grocery store in decades with a Loblaws City Market. Other retail tenants include Winners, Joe Fresh, Shopper Drug Mart, and Olympia Liquor. The extra retail will be a nice addition to the rapidly emerging East Village. Scotia Bank and TD are also expected take up space in the building. Once completed, the 5th and Third will add 600,000 sq. ft. of retail, making it one of the largest of its kind in Calgary's core.
SkyriseCalgary will be sure to return to this project as progress continues. For more information, check out the associated Database file and Forum thread, and as always, feel free to join the conversation in the comments section below.
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