Calgary Municipal Land Corporation (CMLC) announced its partnership with Alston Properties on Monday on the new residential project EV606 in East Village.
EV606 will be a 53,000 sq. ft., six-storey mixed-use residential building beside the historic Simmons building and the Bow River. The residential building is intended to be a 360 building, meaning that because of its amenities, there will be no backside.
The CMLC has been putting the finishing touches on the East Village Master Plan as the remaining parcels in the East Village get set for development. Last October, the final Riverwalk parcel began development, and then in December, the final Q-Block parcel began.
“As the steward of the East Village Master Plan CMLC is pleased to mark the start of construction on another project in East Village and the final piece of the riverfront properties here in East Village,” said Kate Thompson, President and CEO of CMLC.
Since 2007, CMLC has invested more than $400 million into the infrastructure in East Village attracting a return of more than $3 billion worth of private investments. EV606 is anticipated to represent an approximate private investment value of $18 million to the community.
Retail and residential units
EV606 will house 44 residential units and 9,300 sq. ft. of street-level retail space. Residential units will offer a dynamic mix of units with both one-bedroom and two-bedroom units. Residents can expect to pay around $1750, going up to $2100 a month for one-bedroom units. Two-bedroom units will range from $2200 to $2750 a month.
“Through our development, we aspire to enhance the East Villages livability, offering a diverse range of residential options in the 44 units that East Village will have and contribute to the street level activation with high-quality retail spaces and a dynamic public alleyway,” Bryce Alston, Director of Alston Properties.
The vision for EV606 is to honour the rich history of East Village while incorporating sustainable and unique urban spaces for residents. In order to achieve sustainable development, Alston has said that the building will exceed the baseline energy code by 24 per cent. As well as incorporating a “nail laminated mass timber floor structure system that is reminiscent of a building typology from a century ago,” said Alston.
“The East Village is a neighbourhood steeped in history, a melting pot of culture and diversity and a symbol of Calgary’s progressive spirit. We recognize its potential, and through tireless effort, planning and collaboration. We envision a project that will elevate the neighbourhood and contribute to its momentum,” said Alston.
The mixed-use residential building is part of CMLC’s ambition to enhance active frontage within East Village in order to aid in people’s desire to visit the neighbourhood.
Leasing is set to begin in late 2025 and construction is anticipated to start within the next few weeks, according to Emma Stevens, Director of Communications and External Relations at CMLC.
EV606 is intended to offer residents a space to gather, connect and thrive while overlooking the Bow River and the Jack & Jean RiverWalk that connects residents and visitors to 700 k.m. of city pathways.
“It is a place where families can grow, entrepreneurs can flourish and individuals can find their sense of belonging,” said Alston.