In our last article about 5th and Third, back in August of this year, one of the residential towers was in the beginning stages of resuming construction after a one year halt where construction was capped off. The tower of is one two residential towers to sit atop 5th and Third East Village, a three storey retail complex in Calgary's East Village.
The retail complex, developed by RioCan REIT has been under construction and is getting close to completion however the towers were postponed due to a slow condominium market. Embassy Bosa decided to halt construction until the market conditions picked up, however with the condo market still in a slump, and the rental market doing very well, the decision was made to build one of the towers as a purpose built rental development. The 24 storey east tower is the one going ahead, while the 41 storey west tower will sit capped until a later date.
With the lower portion of the tower already built into the retail podium, the towers ascent into Calgary's East Village skyline has been swift and sudden. Actual concrete construction work had begun in mid September, and now two months later construction crews are working away at the 9th floor. They've been averaging almost a floor a week, and at this rate could be topped out by April.
SkyriseCalgary will be sure to return to this project as progress continues. For more information, check out the associated Database file or the associated Forum thread for photo updates and discussion and as always, feel free to join the conversation in the comments section below.
|Related Companies:||RioCan REIT|