[ad_1]
Now under construction, the new 24-storey tower in Calgary’s Beltline district will provide 219 rental units and ground-level retail spaces.
A groundbreaking ceremony was recently held for a new 24-storey tower in Calgary. (CNW Group/GWL Realty Advisors)
Construction of a new rental tower is underway in Calgary’s Beltline district. The 24-storey residential tower at 1405 4th Street SW will offer 219 professionally managed rental units and a ground-level retail area, which developer GWL Realty Advisors says will contribute to the revitalization of one of Calgary’s most dynamic neighbourhoods.
“This new development represents our continued commitment to building high-quality rental communities in Canada’s top urban markets,” said Glenn Way, president, GWL Realty Advisors. “With its prime location, premium amenities and our long-term approach to investing, we are excited to play an active role in shaping Calgary’s future and contribute to establishing the Beltline as a premier residential neighbourhood.”
Developed on behalf of its client, The Canada Life Assurance Company, the property will be allocated as an investment to the Canada Life participating and non-participating life insurance accounts.
Construction of the building is being managed by Axiom Builders, with architectural work having been handled by Arcadis. The project is expected to be completed within 36 months, with occupancy targeted for mid-2028. The development features nearly 6,000 sq. ft. of pedestrian-oriented retail space on the ground floor, accommodating up to five commercial units, offering high-quality retail amenities for residents and the surrounding community.
Designed to maximize livability, the building will feature open-concept layouts, plenty of natural light, modern finishes and numerous amenities, including a fitness centre, social lounge, co-working spaces, rooftop dining and pet-friendly facilities, such as a dog run and pet wash.
“Projects like this show confidence in Calgary’s urban core and align with our goals for density, sustainability, and vibrant, livable communities,” said Calgary Mayor Jyoti Gondek. “We welcome GWL Realty Advisors’ investment and look forward to seeing this new development take shape in the heart of our city.”