In The News

First Capital stocking up on Calgary Beltline property
Thursday, 26 April 2018

The Mount Royal West mixed use development in Calgary.

First Capital Realty (FCR-T) is accumulating buildings in Calgary’s Beltline district, just outside the downtown core, for potential future redevelopment into large, mixed-use projects. 

One of the properties in First Capital’s portfolio is Mount Royal West, a mixed-use development one block north of 17th Avenue. A three-storey building nearing completion will house an Urban Fare store at street level, a Canadian Tire store on the second level, and medical office use on the top level.

Calgary Beltline “the place to be”

“We think the Beltline is the place to be in the next 20 years for mixed-use development,” says Huizinga. “We’re taking positions that offer decent holding income, but more importantly provide opportunities for future redevelopment.

“We’re obviously retail-focused, but we recognize that urban development increasingly will be mixed-use and so the intent is then to have one or two levels of commercial and residential above. That’s the program we think makes a lot of sense and one that the city is fond of promoting.”

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Mario Toneguzzi, based in Calgary has 37 years of experience as a daily newspaper writer, columnist and editor.

 

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