Calgary's Urban Placemakers - CMLC

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Calgary's Urban Placemakers - CMLC
Calgary’s Urban Placemakers

                              BUSINESS PLAN
Calgary's Urban Placemakers - CMLC

At the Halfway Mark   In 2007, Calgary Municipal Land
                      Corporation (CMLC) accepted the
                      challenge of rebuilding East Village
                      from the ground up – a monumental
                      undertaking to be delivered over
                      20 years.
                      January 2017 – the starting point of
                      our next three-year business planning
                      period – marks a major milestone
                      in our enthusiastic pursuit of that
                      challenge: the halfway mark of that
                      20-year period.
                      As we enter the next (and last) 10-year
                      term of CRL capture and reinvestment
                      within the Rivers District, we reflect
                      back on all we’ve accomplished over
                      the past decade…and we consider
                      all the successes yet to come in the
                      decade ahead.
Calgary's Urban Placemakers - CMLC
No half measures                             The bigger picture
Following our strategic land sales           As a development corporation,
and careful selection of East Village        CMLC will pursue new opportunities to
development partners, we have now            deliver value for our sole shareholder,
entered fully into a 10-year cycle of        the City of Calgary, both within and
multi-family residential and commercial/     beyond the Rivers District.
retail construction.
                                             Our first priority, of course, will be
Watching a new East Village rise against     to shepherd the work now underway
the skyline of downtown Calgary’s east end   in East Village and the Rivers District
is undeniably exciting. Left for dead more   and to reach the ceiling on CRL
than once, the city’s oldest neighbourhood   capture – recently forecast to be
(and for decades, its most neglected         $801 million – by realizing the
and downtrodden neighbourhood) is            remainder of the Rivers District’s
now halfway through its master-planned       taxable development and CRL
resurrection as a desirable, walkable,       generation potential (determined
livable riverside destination.               in late 2016 to be 5.5 million SF and
                                             $200 million, respectively).
The momentum underway in East
Village is staggering. And affirming. It     As we embark on new projects as
demonstrates – dramatically – what can       described in Chapters 3 and 4, we will
happen when collaboration, creativity,       carefully coordinate our planning and
determination, passion and plain old         execution with the City of Calgary to
hard work prevail.                           maximize efficiencies in budget and
                                             human resource allocation.
Ten years ago, the CMLC team embraced
our mandate with undaunted zeal. And the
results surpassed everyone’s expectations
except our own. Now, with the same
fervour, we embrace the decade to come.
Calgary's Urban Placemakers - CMLC

05   Chapter 1                                   43   Chapter 4
     Preparing for the Decade Ahead                   Work Beyond the Rivers District:
09   1.1   Working within our expanded mandate
10   1.2 Funding our future activities           45   4.1 Projects outside the CRL boundary
15   1.3 Planning & prioritizing our next
         three years of placemaking              46   Chapter 5
                                                      Marketing, Communications
20   Chapter 2                                        & Engagment
     Our Proven Approach to Placemaking          47   5.1 Economic outlook
21   2.1 Our mandate, vision and values          50   5.2 Residential launches & consumer marketing
23   2.2 Our guiding principles                  51   5.3 Other developer activity (non-residential)
24   2.3 Community successes                     54   5.4 Consumer marketing operations
                                                 57   5.5 Corporate communications & engagement
26   Chapter 3                                   61   5.6 Community programming & events
     CRL-Driven Projects: 2017–2019
28   3.1 Projects currently underway             62   Chapter 6
36   3.2 New projects in the Rivers District          Dollars & Sense
40   3.3 Land strategy                           63   6.1 Corporate services
                                                 66   6.2 Financial strategy
Calgary's Urban Placemakers - CMLC
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                     CHAPTER ONE
                       P R E PA R I N G F O R
                     THE DECADE AHEAD

Illustration: MIR.
Calgary's Urban Placemakers - CMLC
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Preparing for      Through the first half of our 20-year
                   commitment to implementing and
                   executing the Rivers District Community
the Decade Ahead   Revitalization Plan, CMLC’s primary
                   focus was clearly defined: make the
                   infrastructure improvements and apply
                   the placemaking principles necessary to
                   attract significant investment and private
                   development in the Rivers District –
                   principally East Village.
                   We spent our first 10 years laying the
                   groundwork (literally) for the extensive –
                   and truly exciting – vertical construction
                   now resurrecting Calgary’s oldest
                   neighbourhood and reshaping the horizon
                   of downtown’s east end.
Calgary's Urban Placemakers - CMLC
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Having now completed the lion’s share          1. Persist in our stewardship of the
of our planned horizontal infrastructure          Rivers District CRL and strive
upgrades and public realm improvements in         to unlock the final $200 million
East Village and its outer fringes, the CMLC      in potential CRL revenues by
team will focus on four key occupations:          realizing 5.5 million SF of available
                                                  development opportunity over the
                                                  next decade
                                               2. Seek and embark on new
                                                  opportunities within the
                                                  Rivers District to invest our
                                                  expertise and the remaining CRL
                                                  revenues into placemaking and
                                                  community-building initiatives
                                               3. Continue to steward infrastructure
                                                  improvement projects currently
                                                  underway while supporting and
                                                  overseeing the commitments
                                                  and construction activities of our
                                                  developer partners
                                               4. Capitalize on our expanded mandate
                                                  and apply our development and
                                                  placemaking talents to projects
                                                  and opportunities beyond the
                                                  boundaries of the Rivers District to
                                                  create value for our shareholder, the
                                                  City of Calgary.
Calgary's Urban Placemakers - CMLC
Calgary's Urban Placemakers - CMLC
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Working within our                       Where our original marching orders were
                                         to implement and execute the Rivers
                                                                                      In our enthusiastic pursuit of this new
                                                                                      mandate, we will explore opportunities
expanded mandate                         District Community Revitalization Plan – a   and pursue projects within two categories
                                         public infrastructure program approved       distinguished both by geography and by
In 2016, our sole shareholder expanded   by the City of Calgary and the Province      funding models:
CMLC’s mandate.                          of Alberta to kick-start Calgary’s urban
                                         renewal – our revised mandate gives far      1. Projects within the Rivers District,
                                         greater latitude to our placemaking and         funded with and without the
                                         city-building activities:                       Community Revitalization Levy (CRL)
                                                                                         see Chapter 3, page 31
                                         CMLC, created and owned by the City
                                         of Calgary, exists to achieve the City’s     2. Projects outside the boundaries of
                                         objectives for urban densification and          the Rivers District, which will require
                                         community renewal, infrastructure               alternative sources of funding
                                         investment and placemaking.                     see Chapter 4, page 51

                                                                                      In addition, we will support our sole
                                                                                      shareholder in studying the viability of
                                                                                      city-building mega-projects; and we
                                                                                      may, on a case by case basis, provide
                                                                                      consultancy services to other jurisdictions.
Calgary's Urban Placemakers - CMLC
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Funding our                                   As a mechanism for generating the funds        Beyond its extraordinary value for funding
                                              necessary for community revitalization         necessary infrastructure improvements,
future activities                             and placemaking, the Rivers District CRL       the CRL leaves an impressive legacy.
                                              has proven extremely successful.               From 2028 onward, the dramatic increase
An innovative funding system – the                                                           in Rivers District property assessments –
first of its kind in Canada, in fact – the    To date, CMLC’s commitment of                  driven by redevelopment from
Community Revitalization Levy was             approximately $357 million to East             $865 million in 2007 to an anticipated
created to ensure CMLC could fulfil           Village infrastructure and public realm        $12 billion in 2028 – is expected to yield
the ambitious economic, social and            programs has attracted $2.7 billion of         $60 million to $65 million in tax revenues
environmental objectives of the Rivers        planned development.                           per annum to the City of Calgary and
District Community Revitalization Plan. It                                                   Province of Alberta, who will share CRL
                                              As we take the exciting step over the
provides a means to segregate property                                                       revenues approximately 70/30.
                                              halfway mark, we have hindsight and
tax revenue increases that result from
                                              market performance to guide our decision
redevelopment in the Rivers District into a
                                              making. Our analysis of the marketplace
fund for infrastructure improvements.
                                              with Coriolis Consulting Corp. – a
                                              Vancouver firm with 30+ years’ experience
                                              in community and regional planning, real
                                              estate analysis and urban development
                                              economics – revealed that the Rivers
                                              District CRL will drive $801 million of
                                              benefit over its 20-year timeframe. A
                                              great deal of development has occurred
                                              over the past 10 years, and the remaining
                                              capacity for development in the Rivers
                                              District is 5.5 million SF. By realizing the
                                              remaining development densities, we
                                              will realize the remaining $200 million of
                                              potential CRL generation.
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Total CRL generated:
$801 million
Completed or committed
(Considers go-forward
CMLC operations and
debt financing charges)

                          $601 million
                          2007 - 2016

                                         $200 million
                                         2017 - 2027

                                                                                         Remaining CRL

                                                                                          (5.5 million SF)
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CRL Facts & Figures                               Updated CRL Modelling                       New funding sources and
                                                                                              financial strategy
•   Enabled by the Municipal Government           To understand the remaining potential
    Act the Rivers District CRL has a 20-year     for CRL generation in the decade ahead,     For projects outside the Rivers District
    term that concludes in 2027                   CMLC and Coriolis Consulting spent three    and beyond the reach of the CRL revenues
                                                  months in the summer of 2016 identifying    our infrastructure improvement and
•   The Rivers District covers approximately      the remaining development opportunity in    redevelopment activities are generating,
    500 acres on downtown Calgary’s               the Rivers District (2017 to 2027).         CMLC has developed a financial strategy.
    east side
                                                                                              See Chapter 6, page 76.
                                                  The analysis factored in market demand
•   In 2007, the forecast for market              and absorption for commercial and           In addition, over the next three years,
    development was 12,929,143 SF of              residential (multi-family) development,     we will explore with our shareholder the
    total development                             considered net migration rates and          possibility and viability of extending the
                                                  macroeconomic conditions like               Rivers District CRL timeline (contingent,
•   The East Village Master Plan accounts
                                                  employment and job growth, evaluated        of course, on approvals and the required
    for 6.8 million SF of the total development
                                                  current built-product reserves and more.    legislative changes by the Government
    opportunity within the Rivers District;
                                                  Our analysis revealed:                      of Alberta). Based on our modelling,
    Bow Tower represented 1.7 million SF; the
    remainder would come through normal                                                       a 10-year extension would yield
                                                  •   Forecast for development over balance
    market activity across the district                                                       approximately $650 million in additional
                                                      of CRL timeframe is 5.5 million SF
                                                                                              CRL revenues – monies that could be used
                                                      (assumes all East Village development
•   CRL generation and new development                                                        to fund future City projects, including
                                                      occurs as planned)
    are directly proportional                                                                 such mega-projects as a new
                                                  •   On achieving the full development       event centre/arena, Arts Commons
•   The CMLC Board has always taken a                                                         redevelopment and/or, potentially, an
                                                      potential, CRL generation (with
    ‘conservative’ approach to guiding                                                        expanded convention centre operation.
                                                      inflation) will total $801 million
    infrastructure spending
                                                  •   Using $801 million of CRL generation
•   In 2007, performance scenarios predicted
                                                      as the new ‘probable’ scenario, we
    CRL revenue generation would range
                                                      subtracted our project commitments
    between $725 million and $945 million
                                                      to determine that $200 million is
•   In 2007, the Rivers District property             the balance of CRL dollars available
    assessment was $865 million; in 2016,             for investment
    it was $6.95 billion; and in 2028, it is
    estimated to be approximately $12 billion,
    which is anticipated to contribute $60–65
    million per annum to City and Provincial
    tax revenues
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How does East Village measure up?
While our CRL is the first funding model of its kind in Canada, a similar mechanism known as Tax Increment Financing (TIF) has been
used widely in the United States. See how the Rivers District CRL has performed in comparison to some notable TIF successes.

City                Term                Size                Anticipated Revenues         Property Assessment Value Increase

Calgary             20 years            489 acres           $801 million                 $865 million to $12.4 billion

Portland            33 years            233 acres           US$165 million               $466 million to $1.6 billion

Denver              25 years            4,700 acres         US$1.12 billion              $28 million to $3.4 billion

Chicago             35 years            150 acres           US$370 million               $12.3 million to $169 million

                                                                                   Value Increase
                                                                                    from $865M
                                                                                      to $12.4B

                                                                                                                     $801 million
                                                                                                                Anticipated Revenues
               20 Year Term

                                         Size: 489 Acres
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5 Investment Principles for investment of remaining CRL
Going forward, investment of remaining CRL revenue must:

                 ‘Protect the CRL base’ of multi-family residential
                 and commercial development within the Rivers
 Principle 1
                 District and achieve the remaining 5.5 million SF
                 of taxable development

                 Support projects identified in the Rivers District
                 Community Revitalization Plan and East Village Master
Principle 2
                 Plan while aligning with City objectives for growth and
                 urban densification

                 Give priority to projects that can activate sooner to
Principle 3
                 stimulate CRL capture (“time is money”)

                 Weigh CRL investment against total project magnitude
Principle 4
                 to allocate funds

                 Allow CMLC to manage corporate risks by assuming
Principle 5
                 project management responsibility
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Planning &                                Strategic Planning                          Note: CMLC did not apply our weighting
                                                                                      system to the three mega-projects (items
prioritizing our                                                                      21, 22 and 23 in our list of potential
                                          We embarked on a rigorous 12-step           projects) as there are too many unknowns
next three years                          strategic planning process with valuable    around their development and delivery

of placemaking                            input from the City of Calgary and our
                                          Board of Directors. Together, we created
                                                                                      and, with combined estimated costs of
                                                                                      approximately $1.5 billion, we cannot
In June 2016, CMLC initiated a            a list of 23 potential new infrastructure   generate sufficient CRL revenues to fully
three-month strategic planning exercise   projects by considering the following       support their delivery within the current
to develop demand forecasts for future    factors and conditions:                     CRL framework. Only with a sufficient
development scenarios, evaluate their                                                 extension to our CRL term could we
                                          1. Projects described within the            direct meaningful CRL revenues toward
potential for CRL generation and
                                             Rivers District Community                these mega-projects. In such a case,
prioritize CRL spending over the
                                             Revitalization Plan                      CMLC would also seek meaningful returns
remaining 10-year period. Our planning
was painstakingly diligent, and our                                                   on investment.
                                          2. Projects required as part of the
methodology, summarized here, was            East Village Master Plan program         CMLC’s executive took our Board of
robust and comprehensive.
                                                                                      Directors through our comprehensive
                                          3. Projects the City considers important
                                                                                      methodology and its outcomes at a
                                             city-building ‘mega-projects’
                                                                                      strategic planning retreat in September,
                                          After producing our initial list of         where we obtained further direction and
                                          potential infrastructure projects           guidance on the go-forward projects.
                                          (exclusive of land acquisitions) through
                                          careful study, analysis and costing, we
                                          evaluated each project against a set of
                                          five weighted investment principles to
                                          establish a shortlist of 10 projects on
                                          which to focus during our next 10 years
                                          of infrastructure delivery.
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Potential Projects: The complete list
                                            Planning, design and implementation of East Village streetscape modifications
 1    East Village Infrastructure           along with completion of East Village streetscapes (tree grates, dog park,
                                            park modifications)

 2    Enoch House
                                            Renovate the historic Enoch House, restore its original character-defining elements
                                            and relocate the building approximately 10 metres west to the adjacent Enoch Park

 3    9th Avenue SE Cycle Track             Upgrade the existing cycle track from 3rd Street SE to the Elbow River

 4    12th Avenue SE Cycle Track            A continuation of the existing bike lane, connecting to the Elbow River

 5    4th Street SE Cycle Track
                                            Establish a strong north-south cycling linkage through the Calgary Stampede grounds
                                            and East Village, connecting to RiverWalkTM and the City’s regional pathway system

                                            Establish an allowance to maintain and program CMLC’s public landscape and right of
 6    East Village Maintenance              way projects in East Village until 2027 (CMLC will work with stakeholders to formulate
                                            a process for the maintenance handover to the City of Calgary in 2027)

 7    Fort Calgary Open Space
                                            Design and construct an even, well-drained surface for the large-scale events
                                            Fort Calgary frequently hosts

                                            Improve the interface between the DI and its adjacent public realm by making
 8    Dermot Baldwin Way                    the north end of 4th Street SE more desirable for pedestrians and cyclists while
                                            simplifying the road network

                                            The Civic District Public Realm Strategy identifies Olympic Plaza as a priority. Includes
      Olympic Plaza (without Parkade or
 9    upgrades to Municipal Plaza)
                                            procurement, planning, redesign and construction of a new Olympic Plaza vision
                                            (Parkade structure, park and arts spaces)

10    Corridor Upgrade: Macleod Trail
                                            Engagement, planning, design and construction of this active one-way corridor (with
                                            an opportunity to slow traffic) plus additional pedestrian realm improvements

 11   Corridor Upgrade: 1st Street SE
                                            Engagement, planning, design and construction of this active one-way corridor (with
                                            an opportunity to slow traffic) plus additional pedestrian realm improvements

12    Macleod Trail Underpass
                                            Stakeholder engagement, redesign and implementation of the underpass to promote
                                            connectivity and safety and improve pedestrian infrastructure

13    1st Street SE Underpass Enhancement
                                            Engagement, redesign and implementation of the underpass to promote connectivity
                                            and safety and improve pedestrian infrastructure
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                                                Engagement, design, construction and programming of this major infrastructure

14   17th Avenue SE Extension
                                                project to extend 17th Avenue SE into Stampede Park, providing a pedestrian and
                                                vehicular link to increase connectivity and create an attractive right of way for new
                                                retail and commercial development

15   Victoria Park Transit Centre (Bus Barns)
                                                Working in partnership with the City of Calgary, demolish existing facility, remediate
                                                site, create a master plan vision and prepare the site for redevelopment

                                                Working in partnership with local stakeholders and the Green Line team,
16   Green Line Interface (in Victoria Park)    support design and construction of 4th Street SE LRT station and associated
                                                streetscape interfaces

                                                Plan, design and construct a pedestrian/vehicular connector to improve north-south
17   New Victoria Park Connector                movement between East Village, Victoria Park and the Calgary Stampede and
                                                further alleviate congestion due to the proposed 8th Street SE road closure

                                                Working with a design team and area stakeholders, articulate a vision to guide the
18   Rivers District Master Plan                delivery of the entertainment district, including streetscapes and other strategic
                                                public realm initiatives, within the Rivers District

     CS-Stampede Trail and Victoria Park
19   Strategic Projects
                                                Develop strategy to deliver retail program (specifically 4th Street SE, a.k.a.
                                                Stampede Trail) while integrating into Victoria Park context

20   RiverWalk Stage 3
                                                Complete pathway from 12th Avenue SE to Lindsay Park (conclusion of Elbow River
                                                section of project)

Mega Projects:

     Victoria Park
21   Event Centre/Arena Facility
                                                Working with project stakeholders, study the viability of delivering a new event
                                                centre and arena facility on a new site within Victoria Park

                                                Design and construction of a new theatre and support spaces north of Teatro
22   Arts Commons                               (Arts Commons North); major renovations and partial exterior recladding of the
                                                existing building (Arts Commons South)

                                                Work with stakeholders to study the viability of delivering an expanded convention

23   BMO Expansion
                                                centre operation within Victoria Park, in full consideration of a new event centre/
                                                arena and other urban conditions like the community master plan vision and Green
                                                Line LRT expansion
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Go-forward Projects:                                  shortlist of projects achievable within the           The projects that will be our focus for the
The shortlist                                         parameters of anticipated funding and in              next 10 years are those that scored from 3
                                                      alignment with our forecasting.                       to 5 in our rating system plus one project
While we would love to undertake all of                                                                     that scored 2: Olympic Plaza – a project
the projects captured in our complete                 By applying the filter of our five                    that’s a high priority for our shareholder,
list (see page 18), the realities of limited          investment principles (see page 16), we               the City of Calgary, and deserving of
resources impel us to ground our                      assigned each project a priority rating of 1          further study and investigation.
ambitions for the next 10 years in a                  (low) to 5 (high).

 Item    Name of Project                                                        P1           P2           P3           P4                P5                Total

   1     East Village Infrastructure                                                                                                                         3

   2     East Village Maintenance                                                                                                                            3

   3     Rivers District Master Plan                                                                                                                         5

   4     Olympic Plaza (Without Parkade or Upgrades to Municipal Plaza)                                                                                      2

   5     17th Avenue SE Extension                                                                                                                            4

   6     Green Line Interface                                                                                                                                4

   7     CS-Stampede Trail and Victoria Park Strategic Projects                                                                                              4

   8     RiverWalk Stage 3                                                                                                                                   4

   9     9th Avenue SE Cycle Track                                                                                                                           3

  10     12th Avenue SE Cycle Track                                                                                                                          3

Note that our shortlist of go-forward projects does not include land strategy as these strategic transactions do not require the use of CRL funds.
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    TO P L ACE M A K I N G
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Our mandate, vision   Our mandate                  Our values
and values            CMLC was created by the      In 2013, CMLC articulated the
                      City of Calgary to advance   explicit and espoused values
                      the city’s objectives for    of the organization: innovation,
                      urban densification and      collaboration, accountability,
                      community renewal,           entrepreneurialism and
                      infrastructure investment    passion – the beliefs and
                      and placemaking.             behaviours that shape our
                                                   culture, guide our actions
                                                   and form the foundation of
                      Our vision                   everything we do.
                      CMLC is Calgary’s            As we execute on the work
                      go-to placemaker for         outlined in our Business Plan
                      urban redevelopment.         for 2017 to 2019, we’ll continue
                                                   to put our values into action.
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Our guiding   Now deeply engrained in our
              organizational DNA, our guiding
principles    principles have shaped and solidified
                                                         DID YOU KNOW?
              CMLC’s position as a leader in
              placemaking, urban renewal and
                                                         In our international
              sustainable development. They have led
                                                         search for an urban
              us to deep understandings and many         design practice to guide
              successful projects, which together have   development of the
              prepared us for the new challenges that    East Village Master Plan,
              await us.                                  CMLC’s Board unanimously
                                                         selected Broadway Malyan
              •   Redevelop, implement and activate      for its innovative and
                  public infrastructure to meet the      contemporary approach.
                  needs of the community and the City
                  of Calgary as sole shareholder

              •   Manage the investment in land
                  and infrastructure for optimal
                  financial return

              •   Demonstrate leading practices for
                  sustainable development

              •   Demonstrate innovative and effective
                  operating processes and practices
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Community successes
                                                             Land parcel 23 sold
                                                               to Widewaters                                                     July
                                                                                                                          Simmons Building
                                                                                                                           tenants selected
                                                      March                        October
                                                   East Village                 Ron Moppett’s
       December                                 Experience Centre            THESAMEWAYBETTER/
    Langevin lights                             opens, residential             READER unveiled
     the way along                                 sales begin
       RiverWalk                  February                                                           January
                                Land parcels                                                      Land parcel R
                                 P, Q sold to                                                     sold to Cidex
                               FRAM + Slokker                                                     Developments

      2009            2010              2011                           2012                                                      2013

                   Land parcels F,
                    G, 39 sold to                               April
                   Embassy BOSA                             Julian Opie’s
                                                                                                             Land parcel C
                                        November                                                             sold to RioCan
   September                          4th Street SE
  CMLC unveils                       Underpass opens
  EV Master Plan
                                                                               September                                             November
                                                                            RiverWalk Stage 1                                    Snøhetta and
                                                                                complete                                       DIALOG selected
                                                                                                                              to design the NCL
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  Elbow River
Traverse opens             June
                     Simmons Building
                     Grand Re-opening                     September
                                                      St. Patrick’s Island
                                                      Grand Re-opening
                                                                                                     EV Music
                                                                                                 Pavilion unveiled

                                          August                                                                                  July
                                        Cecil Hotel                                                                           King Eddie
           October                       acquired
       George C. King                                                             April                                  restoration complete,
        Bridge opens                                                           5th&THIRD                                   Studio Bell/NMC
                                                                             breaks ground                                  Grand Opening

2014                                        2015                                                                       2016

                                    July                                                                                                 November
                                                                September                                                                 Alt Hotel
                              Michel de Broin’s                  NCL’s LRT
                              Bloom unveiled                                                                                           breaks ground
  Land parcel M2
sold to XYC Design
  + Development                                                                                  June
                                                    August                                   Verve breaks
                                              First new resident                               ground
                                                moves into EV

                                                                                                                St. Louis Hotel
                                                                                                             restoration complete
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CRL-Driven Projects:   With a solid understanding of our CRL
                       revenue generation ‘ceiling’ and the
                       development targets required to reach it,
2017–2019              we prioritized the projects on which we will
                       focus during the next three-year phase of
                       our placemaking work.
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Projects currently                        We will continue to steward                     Over the next 24 months, the NCL
                                                                                          construction schedule is marked by the
                                          CRL-funded, Council-
underway and at                           approved infrastructure                         following milestones:

various stages of                         projects currently underway                     •   Completion of east and west
                                          in the Rivers District:                             exterior cladding
                                          New Central Library                             •   Completion of interior construction
While applying our passion for                                                                (electrical and mechanical) and
placemaking to new infrastructure         Construction on the New Central Library             finishing (drywall, millwork, paint,
projects, we most certainly won’t lose    began with the LRT encapsulation in 2013            flooring) beginning on level 0 and
sight of the many projects currently      and is expected to be completed in 2018.            progressing upward
underway within the Rivers District.      Led by CMLC, this complex construction
These include projects presented to       project involves many teams that bring          •   Installation of the NCL’s curved
Calgary City Council in previous CMLC     their expertise to the various stages of            wood ‘underbelly’ soffit
Business Plans plus four recently         work. CMLC engaged Colliers Project
                                          Leaders (CPL) as lead project manager,          •   Completion of exterior
initiated projects we’re now presenting
                                          and part of that job is to manage a detailed        hard surface landscaping
to Council for the first time.
                                          schedule of construction milestones.
                                                                                          •   Completion of all exterior soft
                                          By the end of 2016, the structure of the            landscaping including trees and
                                          building (including concrete columns,               planters surrounding the building; CPL
                                          floors and steel supports) will be nearly           brings in books and equipment, sets up
                                          complete and the exterior cladding on the           operations and prepares for opening
                                          south face of the structure will be in place.
                                                                                          •   Calgary’s New Central Library opens!
C M L C B U S I N E S S P L A N 2 0 1 7 - 2 0 1 9 PA G E 2 9

3rd Street Public Realm                      FAC & CCC
(Phase 2)
                                             As more and more infrastructure is
Encompassing approximately five city         completed and FAC/CCC maintenance             DID YOU KNOW?
blocks from 9th Avenue SE to the Bow         protocols are followed, CMLC will work
River, the 3rd Street SE Streetscape         with the City of Calgary to plan a proper     Of the 13 steel cross
Improvement Project is dramatically          and timely return of the asset to the         members that form the
                                             shareholder. To proactively position the      New Central Library’s
reshaping a space once dominated by
                                                                                           structural framework,
vehicles and LRT lines into a pedestrian-    return of all public realm assets in 2027,
                                                                                           the largest is 23 metres
oriented streetscape that connects the       CMLC will engage with the appropriate
                                                                                           (75 feet) long and
New Central Library with RiverWalk and       City personnel to understand budget and
                                                                                           weighs 45,360 kilograms
the Bow River.                               planning cycles.                              (100,000 pounds).
Construction begins in Q1 2017 and
continues through 2018.                      East Village Safety & Traffic
                                             Management Plan
4th Avenue SE Raising                        Of paramount importance to CMLC is the
                                             health and safety of all people (residents,
Raising the elevation of 4th Avenue SE       visitors, trades and contractors)
between 3rd Street and Macleod Trail         entering or working in East Village and
(northbound) north of 5th Avenue will        the Rivers District. To achieve this, we
help protect an important yet vulnerable     require our developers to employ the
route into Calgary’s downtown core           most current Occupational Health and
from future flooding. Like all other         Safety Regulations in undertaking their
infrastructure improvements and public       construction contracts. Additionally, our
realm upgrades CMLC has undertaken           team assembles and maintains a Traffic
in East Village, this project will support   Management Plan for all East Village
and stimulate redevelopment of adjacent      projects, allowing us to anticipate and
properties – the Cecil Hotel site, the       troubleshoot issues related to vehicular
YWCA site redevelopment by Great Gulf,       or pedestrian access in and around
and others.                                  the neighbourhood. As intense vertical
                                             construction continues through 2017 and
The concept will receive approval in 2017,
                                             beyond, we will continue working with our
and construction will commence in 2018.
                                             development and community partners to
                                             prepare them for access interruptions and
                                             route changes.
C M L C B U S I N E S S P L A N 2 0 1 7 - 2 0 1 9 PA G E 3 0

With Council’s blessing,                        Concept design is underway; detailed           of Calgary. With detailed design scheduled
we will forge ahead with                        design, permitting and approvals are           for completion in Q3 2017, the City aims to
                                                expected in Q1 2018.                           begin construction in 2018.
CRL-funded infrastructure
projects recently initiated
in the Rivers District:                         9th Avenue SE Bridge                           Parcel M2 – XYC Design +
                                                The 9th Avenue SE Bridge over the Elbow
9th Avenue SE Parkade                           River connects downtown Calgary and            As joint venture partner, CMLC will work
                                                East Village to Inglewood and Ramsay.          with East Village developer XYC Design +
In 2014, Calgary Parking Authority (CPA)
                                                Built in 1909 to accommodate a new             Development to design and construct a
identified a need for additional parking
                                                streetcar system, the vehicular/pedestrian     parkade below a 21,000 SF commercial
supply in East Village. To meet that demand,
                                                bridge supports high volumes of traffic        development that XYC is constructing
CPA decided to build a parking structure
                                                every day.                                     next to RiverWalk Plaza. As this is
on one of the two properties currently
                                                                                               considered a difficult development parcel
operating as surface lots along 9th Avenue      CMLC will support the work underway by
                                                                                               to activate, CMLC will build, hold and own
SE (407 and 363 9th Avenue SE).                 the City of Calgary to replace the bridge
                                                                                               the parking structure until 2019, when it
                                                with a new structure that meets current
The project is now under the stewardship                                                       will be sold to the developer.
                                                standards, has an increased load capacity
of CMLC. Working together with CPA, we
                                                and meets increasing traffic demands.
plan to construct an above-grade parkade                                                       4th Street SE
                                                Adding another lane and widening
on the east site adjacent to the Enmax
                                                existing lanes to match the adjoining          Gas Station Site
District Energy Plant. We are also studying
                                                roadway will help reduce congestion
the potential for mixed-use development on                                                     The Can Pro gas station at the corner of
                                                and improve bridge safety, and a well-
the western portion of the site. To assist us                                                  4th Street and 8th Avenue SE (439 8th
                                                considered strategy for pedestrian and
in designing and developing the site,                                                          Avenue SE) – next door to the historic
                                                bicycle traffic will address safety concerns
CMLC has chosen the design team of                                                             Hillier Building and across the street from
                                                with the existing bridge. Designed to last
Kasian Architecture Interior Design and                                                        CMLC’s offices in the newly restored
                                                for the next 100 years, the new bridge will
Planning Ltd. (Calgary) with 5468796                                                           and renovated St. Louis Hotel – sits on a
                                                be easier to maintain and have improved
Architecture (Winnipeg).                                                                       valuable piece of East Village real estate.
                                                flood resiliency.
                                                                                               With the Purchase and Sale Agreement
The parkade, which will serve visitors to the
                                                This project will factor strongly into         (PSA) now finalized, CMLC plans to abate
New Central Library, National Music Centre
                                                CMLC’s master planning of the                  and then remove the structure in 2017.
and other East Village, Victoria Park and
                                                Rivers District as we consider how it
downtown destinations, will be constructed                                                     In 2018, we will describe our desired
                                                enhances connectivity and unlocks
to meet Calgary Parking Authority                                                              development program for the site and will
                                                development potential.
standards, comply with the Parksmart                                                           market the 91,000 SF opportunity in 2019.
Certification Standard and provide              CMLC will budget CRL support to the
approximately 500 stalls.                       project, which will be managed by the City
C M L C B U S I N E S S P L A N 2 0 1 7 - 2 0 1 9 PA G E 3 1

We will continue to support                   Arts Commons                                    Victoria Park Event Centre/
our shareholder, the City of                  Redevelopment                                   Arena Facility
Calgary, through planning
                                              Given that Calgary’s Olympic Plaza/             Working with key project stakeholders
and study of city-building
                                              Arts Commons resides within the                 including (but not limited to) the City of
‘mega-projects’:                              boundaries of the Rivers District, we           Calgary, Calgary Sport Entertainment
With the ongoing East Village                 are assisting the City of Calgary in            Corporation (CSEC) and Calgary
redevelopment, plans for significant          advancing its Civic District Public Realm       Stampede, CMLC has been studying and
infrastructure improvements in Victoria       Strategy – a comprehensive strategy             researching the potential of delivering
Park, major improvements near Stampede        aimed at improving the public spaces            a new event centre/arena project (a
Park and a number of mega-projects            around City Hall, Olympic Plaza and             replacement for the aging Scotiabank
currently under study, downtown               the New Central Library – by helping to         Saddledome) in Victoria Park. Our
Calgary’s east end has the makings of an      reimagine Olympic Plaza.                        assessment is intended to support and
entertainment district par excellence – a                                                     advance discussions about land strategy,
                                              In 2016, we worked with City of Calgary to      financial framework, ownership and
potential game-changer for a city already
                                              understand project scope and ambitions,         operation, transportation, community
renowned for its energy, its hospitality
                                              support the City’s public engagement            building and programming, and more.
and its spirit of fun. In 2017 and beyond,
                                              initiatives and prepare for project delivery.
we will continue to study the viability and
                                              We established a Steering Committee for         BMO Centre Expansion
placemaking potential of several mega-
                                              the project and began work on a Project
projects on the City’s behalf.                                                                Within Calgary Stampede’s espoused
                                              Management Plan, Procurement Plan and
                                              Project Agreement.                              master plan vision, expansion of the BMO
The development ideas that follow are
                                                                                              Centre is stated as a key objective. As
not mutually exclusive. To maximize
                                              Through 2017, we will work with the City        CS moves toward realizing this objective,
the opportunity before us, we need to
                                              to confirm support for the project and          CMLC will add value by considering
imagine each mega-project as part of an
                                              will support the Arts Commons teams as          the impacts on Victoria Park (traffic,
integrated whole.
                                              they advance funding discussions with the       infrastructure and more) of the BMO’s
                                              Provincial and Federal governments.             expanded services.
C M L C B U S I N E S S P L A N 2 0 1 7 - 2 0 1 9 PA G E 3 3

       CMLC and the East Village project have received
       an impressive 37 awards from 2008–2016

2008      Calgary Heritage Authority Lion Award                 2012   National Urban Design Award (NUDA)

          Brownie Award                                         2013   Mayor's Urban Design Award (MUDA) x2

2009      Gold Medal in the category of "General Publication"   2014   AIANY Awards - Merit Award

          Forbis Award                                          2015   2015 President’s Award of Excellence for Design

          Illumination Award of Merit                                  Award of Excellence x2

          Calgary Section Illumination Award                           2015 National Merit - Design

2010      Award of Excellence                                          2015 Regional Merit - Landscape Management

          2010 Urban Leadership Award                                  2015 Top Projects x2

          Gold Medal Marketing Canada Awards x5                        Mayor's Urban Design Award (MUDA) x2

          SAM Award                                             2016   2016 Excellence on the Waterfront Award

          National Award of Merit                                      2016 Great Public Space

2011      Mayor's Urban Design Award (MUDA) x2                         Calgary Heritage Authority Lion Award

          Vitality Award                                               Platinum American Architecture Prize

          Brownie Award                                                National Urban Design Award (NUDA)
C M L C B U S I N E S S P L A N 2 0 1 7 - 2 0 1 9 PA G E 3 4
C M L C B U S I N E S S P L A N 2 0 1 7 - 2 0 1 9 PA G E 3 6

New projects in       Based on our strategic planning work
                      and focus, CMLC has identified 12
                                                                     1. East Village infrastructure

the Rivers District   projects in the Rivers District that require   2. East Village maintenance
                      attention. Over the next three years, we
                                                                     3. Rivers District Master Plan
                      intend to initiate work on the following
                      10 new projects.                               4. Olympic Plaza (without Parkade
                                                                        or upgrades to Municipal Plaza)
                      The projects on our priority list tie
                      together from a traffic, transportation        5. 17th Avenue SE connection
                      planning and community-building                   across Macleod Trail
                      perspective. We initiated redevelopment
                      of East Village in much the same way –         6. Green Line interface in
                      that is, by determining how we could              Victoria Park
                      ‘connect’ East Village to the core and
                                                                     7. CS-Stampede Trail and
                      to surrounding neighbourhoods while
                                                                        Victoria Park Strategic Projects
                      attracting development. In the broader
                      Rivers District, we are beginning with the     8. RiverWalk Stage 3
                      same focus on planning and designing
                      for connectivity.                              9. 9th Avenue SE Cycle Track

                                                                     10. 12th Avenue SE Cycle Track
C M L C B U S I N E S S P L A N 2 0 1 7 - 2 0 1 9 PA G E 3 7

We will focus on                            East Village maintenance                         Olympic Plaza (without
redevelopment and                                                                            Parkade or upgrades to
                                            Maintenance of public infrastructure in
revitalization opportunities                                                                 Municipal Plaza)
                                            East Village is an ongoing endeavour for
to unlock placemaking                       CMLC. Looking ahead, we will establish           The Civic District Public Realm Strategy
potential in the                            an allowance to maintain CMLC’s public           identifies Olympic Plaza as a priority.
Rivers District:                            landscape and right of way projects in East      Includes procurement, planning, redesign
                                            Village until 2027, and we will work with        and construction of a new Olympic
East Village infrastructure                 stakeholders to formulate a process for          Plaza vision (Parkade structure, park
                                            handing over maintenance responsibilities        and arts spaces).
improvement projects
                                            when we transfer the neighbourhood assets
As we did so diligently during the          to the City of Calgary in 2027.
past 10 years, we will plan, design and
                                                                                             17th Avenue SE connection
implement East Village infrastructure and                                                    across Macleod Trail
                                            Rivers District Master Plan
streetscape improvements – public realm
                                                                                             Extending 17th Avenue SE into Stampede
modifications, landscaping and more.        As we achieved in the highly successful          Park will establish a pedestrian and
                                            East Village Master Plan, we will articulate a   vehicular link that increases connectivity
                                            master plan vision to guide redevelopment        and creates an attractive right of way
                                            of the Rivers District. To this end, we have     for retailers, commercial tenants and
                                            hired a design team – Civitas (Denver) with      Calgarians. For this major infrastructure
                                            Gibbs Gage Architects – to provide support       connection project, CMLC will work with
                                            and counsel to CMLC and our stakeholders         the City of Calgary to spearhead and
                                            on a master plan for the entire 500-acre         manage stakeholder engagement, design,
                                            Rivers District with due consideration of the    construction and programming.
                                            potential development of an event centre/
                                            arena, a proposed BMO expansion, the
                                            17th Avenue SE extension, the Green Line
                                            program, the proposed Stampede Trail retail
                                            high street, and more.
C M L C B U S I N E S S P L A N 2 0 1 7 - 2 0 1 9 PA G E 3 8

Green Line interface in                         RiverWalk Stage 3                              9th Avenue SE Cycle Track
Victoria Park
                                                Extending our much-celebrated riverside        To improve safety and usability, we will
                                                promenade from 12th Avenue SE (near the        upgrade the existing cycle track from
Working with the City of Calgary, we will       entry to Stampede Park in Victoria Park)       3rd Street SE to the Elbow River.
support the design of the Victoria Park         to Lindsay Park, RiverWalk Stage 3 will
East Station and associated streetscape         add two more kilometres to the pedestrian
interfaces for the new Green Line LRT                                                          12th Avenue SE Cycle Track
                                                and cycling pathway described in the
line. Our foremost aim will be to ensure        2008 RiverWalk Master Plan.                    Earmarked by the City’s Transportation
intelligent integration with the Rivers
                                                                                               department, this project will extend the
District Master Plan.                           Since its completion in September 2012,
                                                                                               existing bike lane with a connection to the
                                                RiverWalk Stage 1 has become one
                                                                                               Elbow River.
                                                of the city’s best-loved public spaces.
CS-Stampede Trail                               Calgarians use it year round for recreation,
and Victoria Park                               commuting and socializing. From an initial
Strategic Projects                              phase between Riverfront Lane and the
                                                old St. Patrick’s Bridge, RiverWalk grew
Described in the Calgary Stampede
                                                to two kilometres along the Bow River’s
Master Plan, 4th Street SE (a.k.a.
                                                edge from Centre Street to Fort Calgary
Stampede Trail) will be a key retail corridor
                                                and along the banks of the Elbow from
that ‘sets the stage’ and creates a sense
                                                the confluence to 9th Avenue SE.
of arrival to Victoria Park and a refreshed
entertainment district. CMLC will support
the Calgary Stampede with planning,
design and development strategy for the
retail and public realm program along 4th
Street SE.
C M L C B U S I N E S S P L A N 2 0 1 7 - 2 0 1 9 PA G E 4 0

Land strategy                                We will continue to acquire and                    Identify and acquire
                                             sell land to realize the Rivers                    Victoria Park hotel site
Acquisition of key strategic parcels for     District’s remaining 5.5 million
the purpose of delivering the East Village                                                      A new hotel development is deemed
                                             SF of development opportunity
Master Plan has always been a focus for                                                         critical to enabling a holistic vision for
                                             and trigger the balance of our                     Victoria Park. It is also crucial to the
CMLC. Strategic land acquisitions and
                                             potential CRL opportunity                          success of Calgary Stampede’s expansion
divestitures are crucial to maximizing
CRL revenue generation and enabling
                                             ($200 million)                                     plans and will support a new event
our redevelopment vision for the                                                                centre/arena facility if Victoria Park
                                             CMLC’s land strategy for the next 36 months
neighbourhood and broader Rivers                                                                should emerge as the selected location.
                                             includes the following land opportunities in the
District area.                               Rivers District:                                   Divest Can Pro gas station
Our ‘in-out strategy’ is self-funding: the                                                      parcel (439 8th Avenue SE)
dollars required to acquire a parcel of      Market and divest East Village
                                                                                                As described on page 35, CMLC has
land are realized when that parcel is        Block K                                            finalized the purchase of this parcel of
divested. We do not require CRL dollars
                                             The last undeveloped full city block in East       land and in 2018 will describe our desired
for the land strategy.
                                             Village, Block K is the neighbourhood’s ‘centre    development program and partner.
                                             ice’ – an important and valuable parcel of land.
                                             In 2017, we will market the parcel and seek a
                                             capable national or international developer
                                             who can bring design and execution excellence
                                             to Block K by offering an appropriate mix of
                                             residential and commercial development that
                                             respects the East Village vision and advances
                                             CMLC’s commercial/retail objectives.
C M L C B U S I N E S S P L A N 2 0 1 7 - 2 0 1 9 PA G E 4 1

Divest Cecil Hotel site                      Explore other strategic
                                             land acquisitions
In accordance with the master plan
vision for East Village, we will work to     CMLC will pursue strategic land           DID YOU KNOW?
identify a capable mixed-use developer       acquisitions with the support of our
for this prominent and valuable site. Its    Board of Directors and our shareholder,   CMLC controlled more
future redevelopment must consider the       the City of Calgary.
                                                                                       than half of the land
dynamics of the nearby redevelopment                                                   parcels in East Village,
                                             Some opportunities we are currently       which enabled our
of the YWCA site and the DI Centre’s
                                             exploring (with a view to understanding   approach of strategic
potential programming expansion to
                                             their impact on CRL generation and
                                                                                       land sales and careful
ensure it delivers full CRL upside for the
                                                                                       selection of East Village
Rivers District.                             their community-building potential)
                                                                                       development partners.
                                             include the current site of the Calgary
                                             Public Library’s central location (616
                                             Macleod Trail SE) and the old Police
                                             Headquarters site.
C M L C B U S I N E S S P L A N 2 0 1 7 - 2 0 1 9 PA G E 4 3

             WO R K B E YO N D
T H E R I V E R S D I S T R I C T: 2 0 1 7 – 2 0 1 9
WE ST VI LL AG E                               DAV I D D . O U G H T O N
                                               SCHOOL SITE

                   C R E AT I V E H U B & A R T S
                           I N C U B AT O R S I T E
C M L C B U S I N E S S P L A N 2 0 1 7 - 2 0 1 9 PA G E 4 5

Projects outside                    We are approaching the following programs
                                    with our usual passion for placemaking;
                                                                                   the neighbourhood of Albert Park-Radisson
                                                                                   Heights, CMLC aims to acquire the David D.
the CRL boundary                    but unlike our past projects, each will have   Oughton School site by November 2017.
                                    its own proforma with expected returns to
We will create value for our        CMLC clearly defined. (For details on our      For the site, CMLC envisions ‘a
shareholder by applying our         plans for funding projects outside the CRL     neighbourhood embracing a neighbourhood’
development and placemaking         boundary, see Chapter 6, page 79.)             where the new development, though
expertise to projects outside the                                                  distinctive in style, respects the prevailing
Rivers District.                    Continue study of                              personality of the established community
                                    West Village                                   that surrounds it. In 2017 we will roll out a
                                                                                   three-phase public engagement program
                                    West Village represents a potential            with residents and stakeholders to ensure the
                                    redevelopment site on downtown Calgary’s       redevelopment scenario meets the needs of
                                    west end. The 56-hectare (139-acre) site       the community.
                                    is bordered on the north by Bow Trail
                                    westbound and the Bow River, on the east       Acquire land for Creative Hub
                                    by 11th Street SW, on the south by Bow Trail   & Arts Incubator (5736 75th
                                    eastbound and the CPR tracks and on the        Avenue SE)
                                    west by Crowchild Trail.
                                                                                   Near the recently opened Calgary Film
                                    In 2016, CMLC conducted and completed          Centre – a Calgary Economic Development
                                    a comprehensive analysis of the area’s         initiative – is an opportunistic parcel of
                                    environmental conditions. We will continue     land that CMLC imagines as playing an
                                    to work with the Provincial regulator to       important role in advancing Calgary’s creative
                                    understand the best way forward for the        industries sector.
                                    West Village lands.
                                                                                   In 2017, we will articulate a development
                                    Acquire David D. Oughton                       concept for marketing to potential
                                    School site                                    developers. This piece of land provides a
                                    (511 34th Street SE)                           unique opportunity for the Calgary film
                                                                                   community and multimedia industry. A
                                    To stimulate redevelopment near                successful project will allow the film industry
                                    International Avenue (17th Avenue SE) and in   to cluster around the Calgary Film Centre.
C M L C B U S I N E S S P L A N 2 0 1 7 - 2 0 1 9 PA G E 4 6

M A R K E T I N G , C O M M U N I C AT I O N S
           & E N GAG E M E NT
C M L C B U S I N E S S P L A N 2 0 1 7 - 2 0 1 9 PA G E 4 7

Economic outlook                             Both Todd Hirsch, Chief Economist with        While Todd Hirsch agrees that we’ve
                                             ATB Financial, and Glen Hodgson, Senior       seen the worst in the oil price downturn,
The worst of Alberta’s most recent           Fellow with the Conference Board of           he doubts we’ve seen the worst in the
economic downturn appears to be behind       Canada, forecast that gross domestic          labour market.
us, yet the outlook for 2017 is far from     product (GDP) in Alberta will expand by
                                             2.0 to 2.5 percent in 2017 – a prediction     In just over two years, Calgary’s
bright. While many economists predict
                                             echoed in the BMO’s Blue Book (October        unemployment pendulum has swung from
a return to growth in Alberta in 2017,
                                             2016) and TD Economics’ Provincial            Canada’s lowest to the country’s highest.
it will be another challenging year for
                                             Economic Forecast (September 2016).           For the first time in two decades, the city’s
developers with product to sell…especially
                                                                                           rate reached double digits – 10.2 percent –
in the residential realm.
                                             Behind this cautious optimism is an           in November 2016.
                                             assumption that the worst is over in the
                                             oil price freefall that saw West Texas        The Conference Board’s Metropolitan
                                             Intermediate crude plunge from its June       Outlook for Autumn 2016 paints an ever-
                                             2014 peak of $108 a barrel to a meagre        so-slightly rosier picture: “The Conference
                                             $26 in February 2016. Oil prices have since   Board expects that 2016 will mark the
                                             clawed their way back up, but $50 oil is      trough of this latest recession. The
                                             now considered cause for celebration.         benchmark crude oil price is expected
                                             Glen Hodgson‘s forecast for the average       to move upward as market imbalances
                                             price for WTI is about $45 a barrel in 2017   gradually dissipate. As a result, layoffs and
                                             and $60–65 a barrel by 2019.                  cuts to capital budgets in the oil and gas
                                                                                           sector will ease in the coming months,
                                                                                           laying the foundation for a modest
                                                                                           upswing [in 2017].”
C M L C B U S I N E S S P L A N 2 0 1 7 - 2 0 1 9 PA G E 4 8

The Conference Board forecasts that       In such an environment, it’s hardly
Calgary’s real GDP will grow in lock-     surprising that our East Village developer
step with Alberta’s, with a 2 percent     partners have no designed and permitted
increase in 2017.                         projects in the residential queue. Available   DID YOU KNOW?
                                          product has been building up in the city
What does all this mean for developers    since 2012 (when CMLC launched our             CMLC’s brand of
in our city?                              residential marketing program); so across
                                                                                         placemaking brings value to
                                                                                         neighbourhoods, cities and
                                          the city, developers are hunkering down
According to the Calgary & Region                                                        the lives of their residents.
                                          and waiting for the economic tide to turn
Economic Outlook 2016–2021                                                               We are passionate about
                                          in earnest.                                    making cities better,
(published in fall 2016 by the City of
Calgary), the forecast for housing                                                       making neighbourhoods
starts (6,000 in 2016) is to fall to                                                     more liveable and building
4,600 in 2017 and 4,300 in 2018 before                                                   the future.
recovering to 10,200 by 2021.

CREB’s Monthly Statistics Package
notes that as of September 2016,
apartment sales had declined by 19
percent while inventories had increased
by 18 percent on average, and average
apartment benchmark prices in
Calgary had declined by 5.8 percent.
Artist’s Rendering
C M L C B U S I N E S S P L A N 2 0 1 7 - 2 0 1 9 PA G E 5 0

Residential launches                       Velo                                     Vibe

& consumer                                 In June 2014, CMLC sold two land
                                           parcels near the St. Louis Hotel to
                                                                                    For the second phase of their planned
                                                                                    development on Block Q across from Verve,
marketing                                  Knightsbridge Homes – our first          FRAM + Slokker will build Vibe – a 10-storey
                                           major land deal with a Calgary-          condo tower that fronts onto the pedestrian
Over the next 36 months, we anticipate     based developer. Designed with           RIFF between Fort Calgary and the new 5th
the following project advancements         Generation Y in mind, Knightsbridge      Street Square. An intimate boutique-style
by our developer partners in East          Homes’ twin projects along               building, Vibe will comprise a collection
Village (with the proviso that developer   8th Avenue SE will add 300               of affordable, modern interior suites with
decisions around new product launches      condominium homes to East Village.       large balconies and terraces. Designed as
are influenced heavily by such market      The first phase – N3 – is now under      mid-range product, Vibe will offer a variety
forces as price sensitivity, mortgage      construction and will be ready for       of floorplans to accommodate a range of
conditions, economic outlook and           occupancy in spring 2017.                buyers seeking affordable price points. The
competitor activity).                                                               project will launch in stages beginning in
                                           Knightsbridge is now                     late 2017.
                                           conceptualizing phase 2 of its East
                                           Village project – Velo. More than any
                                           other development in East Village,       Arris
                                           Velo is imagined as a mix of housing
                                                                                    Offering a premium product tailored to a
                                           types including micro suites, seniors’
                                                                                    more affluent buyer (executives and empty-
                                           housing and housing for the ably-
                                                                                    nesters), Arris by Embassy BOSA is the first
                                           disabled all in one tower.
                                                                                    project of its kind in East Village. Designed
                                                                                    by Vancouver-based architect Hossein
                                                                                    Amanat, Arris will be poised above the retail
                                                                                    ‘podium’ being developed by RioCan.

                                                                                    In anticipation of Arris’ launch, the project
                                                                                    has been designed and permitted, and
                                                                                    Embassy BOSA has built the show suite.
                                                                                    In other words, Arris is ready for launch as
                                                                                    soon as market conditions improve. The
                                                                                    developer anticipates launch in early 2018.
C M L C B U S I N E S S P L A N 2 0 1 7 - 2 0 1 9 PA G E 5 1

Other developer     Alt Hotel – Avi Urban &                       The Hat – Cidex
                    Groupe Germain                                Developments
                    In early November 2016, development           East Village’s first residential rental
(non-residential)   partners Groupe Germain Hospitalité and       tower, Hat @ East Village – a 28-storey,
                    Homes by Avi broke ground for a new Alt       221-unit high-rise to be built by Cidex
                    Hotel at the corner of Confluence Way         Developments – will be located on 7th
                    and 6th Avenue SE. Construction of the        Avenue and 5th Street SE, right beside
                    three-storey underground parkade, to be       5th Street Square. With a 26- to 30-month
                    completed by Homes by Avi, is expected        construction window, construction is
                    to take approximately 12 months.              planned to commence in early 2018. A
                    Groupe Germain’s construction of the          variety of rental units will be offered,
                    hotel building is anticipated to take an      including the community’s first three-
                    additional 12 months, putting the planned     bedroom apartments.
                    grand opening at Q4 2018.

                                                                  Activation of private
                    Parcel M2 – XYC Design +                      land – Copez
                                                                  The East Village Courtyard (Copez)
                    In partnership with CMLC, XYC Design +        project is a master-planned block with
                    Development is constructing a parkade         a mix of uses including residential, retail
                    below its 21,000 SF commercial                and office in four high-rise towers that
                    development next to RiverWalk Plaza.          tie into the East Village master plan. The
                    CMLC will hold and own the structure until    developer is currently working with City
                    2019, when it will be sold to the developer   planners on land use and permitting.
                    at market value.
C M L C B U S I N E S S P L A N 2 0 1 7 - 2 0 1 9 PA G E 5 2

Great Gulf Impact                            EV Hilton Hotel –
                                             Widewaters Group
The YWCA site at 320 5th Avenue SE
is imagined as a large mixed-use/multi-      With the operator now in place and the        DID YOU KNOW?
family program. It will be opportunistic     building open, the EV Hilton – a 320-room
for East Village developers and CMLC to      hotel on 4th Street SE – brings a new         Our original master plan
understand the consumer launch strategy      reality to East Village with an anticipated
                                                                                           vision for East Village
to best coordinate the release of other                                                    called for 280,000 SF of
                                             73,000 vehicular visits per year. A CMLC
                                                                                           retail development. When
projects in East Village.                    Traffic Management Plan will help guide
                                                                                           all is said and done, we will
                                             visitors to and within the neighbourhood.     have 440,000 SF of urban
5th&THIRD – RioCan                                                                         and village format retail in
                                                                                           the neighbourhood.
In April 2016, RioCan began construction
of an urban format ‘retail podium’ that
will bring 250,000 SF of leasable retail
space to East Village’s street level.
Named 5th&THIRD to underscore its
prime location at the gateway to East
Village and downtown Calgary, RioCan’s
retail development will bring a full-scale
Loblaws City Market, a Shoppers Drug
Mart and a Joe Fresh to East Village.
Construction will advance through 2017
and 2018, with delivery of the retail
podium Loblaws tenancy to follow in
spring 2019.
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