The Alberta government is spending $1 million on a program at Calgary's new central library to preserve Indigenous languages.
Bankside Properties purchased the land with an aim to complement nearby historic architecture and design rental units that will be affordable to most people.More residential towers are going up in the vicinity of Calgary's Central Library, pictured. The CMLC has sold two parcels of land east of the library for a pair of six-storey towers.
Cole Richardson, managing principal for Bankside Properties, told news media on Monday that the towers won't target the premium rental market but instead will be designed to be affordable to most people.The company wanted to develop in the East Village, he said, because of the mix of businesses already in the neighbourhood, its walking distance to downtown Calgary, and the CMLC's vision for the neighbouring culture and entertainment district.
"The added pressure on this property is that you're right next to the new Central Library and the St. Louis Hotel, and also in a challenging market," Thompson said to media on Monday. "We understand that and know how important it is to bring residents into East Village, and keep the momentum with the delivery of development opportunities.
"It's incumbent upon CMLC to look at opportunities to increase development, increase rooftops and residences here, even amidst all those challenges," Thompson said.
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