A retail power centre planned for Calgary’s Deerfoot Trail and Heritage Drive S.E. comes with a bonus – its own interchange and a wildlife reserve next to the Bow River.
The development will rise from the remediated site of a former fertilizer plant. “This is building roads first and providing open space,” said developer Ken Mariash, of Heritage Partners, earlier this month. The company has committed $30 million for the Deerfoot interchange.
The site runs along both sides of Deerfoot south of Heritage Drive S.E. and from the benchlands by Blackfoot Trail to the Bow River east of the freeway.
The built value will be about $400 million in outside retail with some industrial and office use. Heritage Partners is committing 115 acres of riverside land to a wildlife reserve, where the extent of development will be a bike path, says Mariash.
|Illustrations courtesy of Heritage Partners and Gibbs Gage Architects|
|Development planned by Heritage Partners for Deerfoot and Heritage Drive is designed to be friendly for pedestrians.|
Ward alderman Ric McIver notes the community wants traffic solutions while at the same time ensuring the river valley receives environmental protection.
Architect Rick Lewis of Gibbs Gage said the alpine-chalet-themed shopping precinct will feature stone and stucco store details, brick walks and architectural controls. It will be a people-friendly environment, designed so pedestrians can circulate easily within the shopping area.
New houses edged up in price in December from November last year, ending a quarter which also saw apartment construction become more expensive.
Statistics Canada reports that the composite price index for new apartments was 122.5 in the fourth quarter of 2001, up 0.3 per cent from the third quarter and 1.6 per cent from the fourth quarter of 2000. The index is based on a value of 100 for 1992.
The agency also said its new housing price index rose 0.2 per cent in December from November, and was up 2.8 per cent from December 2000. It represents contractors’ selling prices.
House prices rose in 11 of 21 urban centres in December, with Ottawa-Hull leading the way at 0.9 per cent. Edmonton had a rise of 0.3 per cent.
Ottawa-Hull also had the highest annual increase at 5.8 per cent, followed by Montreal at 4.4 per cent, Calgary at 3.5 per cent and Edmonton at three per cent. Apartment building construction costs rose marginally in both Calgary and Edmonton.