Calgary’s East Village development has announced its first major commercial project for the area just east of the downtown – a 315-room Hilton hotel.
Calgary Municipal Land Corporation announced Tuesday that the estimated value of the project is $75 million and it will see Widewaters Group, a USA-based commercial real estate development firm, build a dual branded Hilton along the 4th Street S.E. commercial node of East Village.
It will be situated at the corner of 7th Avenue and 4th Street S.E.
The proposed East Village Hilton project is a 208,000-square-foot, 14-storey, full-service hotel which combines the brands of Hilton Garden Inn and Homewood Inn and Suites under one roof. The project contains a south-facing rooftop terrace with pool and fitness facilities, together with library and convention services and two levels of underground parking.
The Widewaters Group, with offices in Syracuse, NY, Charlotte, NC and Park City, Utah, is a real estate development and management company that has extensive experience in the development of retail, hospitality and office projects throughout the United States and Canada. Across eight eastern American states and three Canadian provinces, the Widewaters Group hospitality portfolio represents $1.16 billion of investment and over 2,500 hotel rooms.
“We’re pleased to welcome Widewaters Group to the team of developer partners who are transforming East Village into a complete inner-city neighbourhood,” said Michael Brown, president and chief executive of CMLC, in a statement. “This project is a great complement to the multi-family projects currently underway in East Village.”
Ed Shagen, director of development for Widewaters, said Calgary is among North America’s strongest performing economies.
“We chose to invest in East Village because we could see its potential as both a tourist destination and a new commercial core for Calgary,” he said.
In the past 24 months, CMLC has signed land development deals with Vancouver-based Embassy Bosa Inc. and Ontario-based FRAM+SLOKKER for a combined 1.2 million square feet of new mixed-use development in East Village.
CMLC has now attracted over $725 million of planned private investment to the area.
The vision for East Village, unveiled in 2009, is that of a mixed-use, inner-city community for 11,000 new residents. The area boasts key cultural and recreational amenities, such as the National Music Centre, RiverWalk, St. Patrick’s Island and the proposed New Central Library.
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