CALGARY, Oct. 30, 2012 /CNW/ - The long-awaited development of the 4th Street and 20th Avenue S.W. commercial construction project moves one step closer to completion today with the final pour of concrete, the last major milestone before the six-storey, 140,000 square-foot building is fully unveiled in late spring of 2013.
"Strategic Group is excited to have the opportunity to play a key role in helping to shape the Mission community with the development of this important project," says Riaz Mamdani, CEO of Strategic Group, owner and developer of the project. "Reaching this stage in construction demonstrates our commitment to being a part of a development solution for the community of Mission."
"This is a major milestone for the most significant commercial project in Mission. We have been working diligently to complete this for some time through one of the most significant economic downturns in recent memory," adds John Mar, Alderman of Ward 8, whose Ward includes the Cliff-Bungalow and Mission neighbourhood. "I believe the progress that we've witnessed through the commitment of City Administration, City Council and Strategic Group will ensure that Calgary's inner city continues to grow in a way that is mutually beneficial to residents, families and businesses."
First contemplated more than a decade ago, this mixed-use project is expected to become a focal point for Mission and surrounding areas. Once completed, it will include five floors of environmentally- compliant and technologically advanced office space, more than 20,000 square feet of retail, a restaurant, and over 300 underground parking stalls.
Strategic Group, one of the largest private owners and developers of commercial real estate in Alberta, acquired the land from a previous developer in 2006 after the original project failed to go ahead. Strategic Group set about creating a new vision for the complex which includes wide, pedestrian friendly walk-ways, patios and rooftop gardens that will serve as gathering places for tenants, visitors and shoppers.
"This project is the culmination of years of hard work and consultation with the community to ensure it benefits the diverse interests and demographics in the area. It is a combination of classic and modern design styles that will complement the distinct, eclectic style of the Mission community," says Mamdani.
With the exterior construction work now completed, project construction will shift to the interior with expected completion in May of 2013.
SOURCE: Strategic Group
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