Construction on the mix of commercial and residential buildings is set to begin in early 2023
Date published
October 4, 2022
Tuesday, October 4, 2022 (Calgary, Alberta) – NorthHill Co-op, a familiar supermarket along Calgary’s 16th Avenue North East, is set to be purchased and converted into a mixed-use community by local development company, Royop Development Corporation. Royop acquired the property in September and is moving forward with plans for redevelopment of the site. The new development will include a brand new Calgary Co-op grocery store to replace the current 60-year-old space, residential apartments, parkade, and two new commercial buildings.
“We are pleased to enter into a long-term relationshipwith Royop on the sale and lease back of this property,” says Damon Tanzola, Vice President, Facilities Development and Real Estate for Calgary Co-op. “This transaction is part of our redevelopment strategy which enables us to invest back into our member-owned businesses, provide enhanced amenities to the community and support the continuing sustainability of Calgary Co-op.”
Construction is set to begin in early 2023, first focused on 180 residential apartments and townhomes with resort-like amenities such as an entertainment hub, sound stage, podcast studio, sports club, and culinary kitchen. Residents are expected to be welcomed into the new building as early as autumn 2024. Below the residences will sit a 55,000 square foot commercial level, featuring a new full-service Calgary Co-op grocery store, bank, and retail spaces. Two additional commercial buildings will be constructed to house a Calgary Co-op Wine Spirits Beer, Calgary Co-op cannabis shop, car wash and gas bar, and other service-oriented businesses. The existing Calgary Co-op gas bar will remain on the site with a new car wash to be added during the project. To accommodate an influx in shoppers and residents, two levels of parkade will also be added to the site.
“This is a true example of a mixed-use development that will breathe new life into 16th Avenue,” said Jeremy Thal, President and CEO, Royop Development Corporation. “We are excited to be leading the transformation of 16th Avenue North East.”
During construction the current Calgary Co-op store will remain operational until the new and larger, more efficient store is opened, at which time the old location will be demolished to make room for other new buildings.
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Website: www.royop.com
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ABOUT ROYOP DEVELOPMENT CORPORATION
Royop Development Corporation is Western Canada’s premiere mixed-use real estate developer. With nearly 60 years of experience the company manages 75 properties and has over $1.3 Billion in real estate under development. Royop is committed to delivering innovative and dynamic experiences to their customers.
ABOUT CALGARY CO-OP
Owned by members, Calgary Co-op is one of the largest retail co-operatives in North America. Locations in Calgary, Airdrie, Cochrane, High River, Okotoks, and Strathmore include food centres, pharmacies, gas stations, car washes, commercial cardlocks, home health care centres, wine, spirits, and beer locations, cannabis, Community Natural Food stores and Beacon Pharmacies.
With over 400,000 members, 3,850 employees, assets of $627 million and annual sales of $1.2 billion, Calgary Co-op was recognized as one of Alberta’s Top 75 Employers of 2022 and is committed to delivering an exceptional customer experience through inspired team members. For more information, please visitwww.calgarycoop.com.
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