Calgary's redeveloping East Village neighbourhood landed another major score in early May with the announcement by the Calgary Municipal Land Corporation (CMLC) that a deal had been struck to build a 315-room Hilton hotel in the redeveloping area.
The CMLC has spearheaded major redevelopment in the 20-hectare East Village east of downtown for several years.
The new 14-storey project is slated for Seventh Avenue and Fourth Street Southeast. It will be dual-branded as a Hilton Garden Inn and Homewood Inn and Suites.
"We're pleased to welcome Widewaters Group to the team of developer partners who are transforming East Village into a complete inner-city neighbourhood," said Michael Brown, president and CEO of the city-backed CMLC.
Brown called the hotel project a great complement to the multi-family residential towers already slated to rise above the once-forgotten slum neighbourhood known more for crime and drug addicts than international hotel brands.
Ed Shagen, director of development for U.S.-based Widewaters Group, was upbeat about why his company is investing in East Village.
"We chose to invest in East Village because we could see its potential as both a tourist destination and a new commercial core for Calgary," Shagen said. "We're thrilled to be part of the team."
Two residential projects are already planned for the East Village, with Vancouver-based Embassy Bosa Inc. and an Ontario-based firm both slated to build condominium towers.
from Western Investor June 2012
