Highrise rental tower set for East Village

Another landmark is set to be added to East Village.

Cidex Developments Ltd. says it will build a 28 story, 221 unit rental highrise at the cost of $100 million.

The company says it would like to start construction this fall.

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Michael Brown is President & CEO of Calgary Municipal Land Corporation, which oversees the project.

 “It’s not low cost rental; it is basically hitting a nice market mix. It’s taking advantage of its location with Fort Calgary, also within East Village, so I think it’s going to be a type of product if I am looking to rent I can buy into.”

Tweet This Click to share quote on Twitter:  "It's not low cost rental; it is basically hitting a nice market mix. It's taking advantage of its location with Fort Calgary, also within East Village, so I think it's going to be a type of product if I am looking to rent I can buy into."

The residential tower will feature, one, two, and three-bedroom apartments, with a daycare on the main floor.

Cidex hopes to have the building completed by 2017.