Looks like Southeast Calgary is poised to become the shopping mecca for the city thanks to the massive retail development planned for the Seton area.
In a Calgary Herald article, Warren Paulsen, the vice-president of commercial for Brookield Residential - the area developer - said some 8 hectares of land will become close to 200,000 sq. ft. of shopping space. To that end, Brookfield Residential has begun its pre-leasing phase to attract tenants.
The plan is to get earth moving and break ground next spring (May 2015), with the goal being to have the retail development in Seton completed by summer 2017. In terms of shopping, the new open-concept shopping centre will feature some 20 stores ranging in size from 1,500-32,000 sq.ft.
The Seton urban district, which has the largest solar panel power system in Calgary, encompasses some 165 hectares of space which will become more than a million square feet of professional services, drug stores, liquor outlets, watering holes, restaurants, retail, gas stations, a multi-services facility and a multiple, 11-screen Cineplex movie theatre. Top that off with an additional 1.5 million sq. ft. of office space including a professional medical building. The plan is for Seton to become a second urban district outside of Downtown Calgary.
Plans in Seton also call for a 100,000 sq. ft. professional building with mostly medical offices as tenants and ground is being broken on that project. The building will feature a radiology facility, a walk-in medical clinic, dentists, an optometrist and a pharmacy.
More Than Retail - Cineplex - Marriott - Rec Centre
So far, Cineplex has a development permit going through the beaurocratic process and the company is hoping to get building next spring. And a new Marriott hotel will be completed by October 15.
Another huge bonus for Seton is the City of Calgary will be constructing a recreation centre and library in Seton. The Rec. Centre will be opening in 2018, featuring a water park, twin arenas, a theatre and a fitness centre. The area will also be getting a new high school.
So far, The Gateway district, which is Seton's first development - is finished with about 130,000 square feet that includes a Save-On-Foods grocery store, Shoppers Drug Mart, BMO and TD Bank as well as other stores and restaurants.
Ryan MacDonald, B.Sc. Real Estate Professional
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Top 1% Real Estate Professional in Calgary
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