Calgary city council has given its tentative approval for a major redevelopment at Fisher Park, near CF Chinook Centre, in the city’s southeast.
Dubbed “Midtown,” the project by Cantana Investments would be built out over 34 acres (14 ha) southeast of the intersection of Macleod Trail and Glenmore Trail.
The proposed development would include up to 6,200 housing units, as well as commercial spaces and hotels. It would encompass 28 new buildings.
Cantana Investments has said it would pay for a new LRT station along the existing Red Line between the Chinook and Heritage stations to service the area.
The company said the location is ideal in that it is within walking distance of many amenities, including Chinook Centre.
Council gave a unanimous first reading approval for the land use on Tuesday.
Mayor Jyoti Gondek said the city is working with the developer to make Midtown happen in the coming years.
“It’s important for us to pay attention to what this project looks like, and it’s been several years of discussion with the applicant. I think we’re in a very good place where we’ve mitigated the risk,” said Gondek.
“If this project works well, it will be a boon for our city, and if there are hiccups along the way, we are well protected.”
The councillor for the area, Kourtney Penner, said the project presents risks and opportunities, but council supports working with the developer to make it happen.
“How this builds out in future years I think is going to be the responsibility of both the administration [and] council and the developer to work in tandem to really bring this vision to life.”
Based on how the preparations go, council would be asked to give the rezoning second and third reading at a future point. The city would also have to negotiate a special development agreement with the company on an infill CTrain station.
Cantana Investments envisions a full build out of Midtown by 2050.