Quote:
Originally Posted by algernon
I was totally joking.
On density:
I wonder if the City could force things along a bit regarding the East Village? How about no more suburban development until the East Village is built up?
It's a shame that the area is all parking lots, with a world class facility (Cantos) on the way.
What ever happened to the proposal with the canals a few years back?
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There's a ton of stuff going on in the East Village. The old plan with the canals was scrapped. In 2005 the City passed a revised Area Redevelopment Plan. Subsequently, they worked with the Province to change legislation that would allow a "tax increment finance" to develop the community. Basically they borrowed about $200 million to finance all the improvements such as raising the ground above the floodplain, develop riverwalk, fix up St. Patrick's Island and build a new bridge, pay for the 4th street SE underpass, build new streetscapes, new parks and so on. All this construction on infrastructure is happening as we speak. The development of East Village is being handled by an arm's length development corporation created by the City called that Calgary Municipal Land Corporation - CMLC. You can read all about them here:
www.calgarymlc.ca
Video of the masterpan:
http://www.calgarymlc.ca/rivers_proj...village_video/
There is also a big marketing element to the East Village, through sites like this: that explain the master plan, infrastructure going in and so forth.
www.evexperience.com
CMLC hired consultants from London - Broadway Malyan to come up with a Master Plan for the community. This was completed last year.
Currently CMLC is continue to prepare the land so it can be developed but is also actively marketing lands to sell off to private sector developers. These sales will have conditions in place to ensure they develop as envisioned in the master plan and in a timely manner. I would expect the first land sales to start this year. Developers will then design projects, gain approvals, market and then construct. I would expect the first shovels in the ground for new condos in about 2 years - and then it just goes from there. Many of the infrastructure projects will be more or less complete in a couple of years (such as Riverwalk, 4th Street underpass) but others will probably be ongoing for several more years.
I love the way it is being done. It will be a fantastic area in Calgary.