Toronto developer Great Gulf is hoping to make its first foray into the Calgary residential real estate market with a proposed two-tower development in East Village, just east of the federal Harry Hays building.
The project, at 304 Macleod Trail S.E., would include 443 units in towers of 22 and 24 storeys.
A development permit application has been submitted to the city.
From a design perspective, the company wanted to bring something different to the marketplace. There are many local and Vancouver-based developers who are very active in Calgary condo development.
Calgary has a very dynamic downtown with respect to office and retail and recreation. However, the company think it is under-served residentially. Calgary is quite a big sprawling city but it’s historically not had a great deal of truly downtown residential development.
The company certainly seeing some good success with East Village and the Beltline has always performed quite well.
Toronto has had much success with residential towers close to the central business district and the company is quite excited about its potential development site in Calgary.
The company is working on a sales and marketing strategy and it hopes to enter the market in late fall of this year or early in 2016.