East Village’s towering N3 vision
Knightsbridge to offer 300 starter homes
The first residential development in East Village by a Calgary-based company will be a two-tower project with entry level pricing and no parking.
Knightsbridge Homes will bring 300 condos to parcels near the St. Louis Hotel with a development called N3, which stands for new attitude, new living, new vision.
“We see East Village as just an unbelievable opportunity,” says Joe Starkman, president of Knightsbridge Homes
“I don’t think there’s another city in North America that has part of downtown that’s brand new.” The veteran builder’s most recent development is a five-building project in Brentwood called University City.
Knightsbridge joins two existing developers in East Village, each with its own multi-tower project; Embassy Bosa Inc. from B.C. and Ontario-based FRAM+Slokker Developments.
“We submitted the completed permit package to the city on June 6 with the understanding that it would be the first project of its kind in Calgary and would require 100 per cent relation of the land-use bylaw as it relates to residential parking allowances,” says Starkman.
The first of two towers will be 14 storeys and include 160 homes with a retail podium. Units will cost an average of around $225,000 and range from 480 to 650 square feet. They’ll also be fullyfurnished.
“Without the parking structure, we are able to save quite a bit of money,” says Starkman.
“It’s not for everybody. We feel there’s a niche that has been missed in the city and we’re trying to fill that niche and bring affordability to this younger generation so they can actually get started in home ownership.”
He says the development is meant to attract purchasers in the 20 to 35 age range.
“This young demographic is redefining the way residential developers design and market homes,” says Susan Veres, vice-president of marketing and communications for Calgary Municipal Land Corp.
Created by city council, CMLC has spearheaded the Rivers Revitalization Plan, which includes East Village, since 2007.
“They expect style and function, aren’t interested in big mortgages and don’t see value in vehicle ownership and ongoing maintenance, particularly when other options are available to them.
“This type of project fits perfectly with the aspirations of East Village and will fulfil demand in the marketplace for residential offerings available across multiple income levels and demographic segments.”
In planning the development, looking at alternate forms of transportation was key, says Starkman.
“We’re 270 steps from the LRT station at City Hall, which makes us a transit orientated development — And LRT is free downtown, which is spectacular.”
Transit oriented developments describe a city planning initiative for mixed-use areas within a 600 metre radius of a bus or train station.
While the project will not include a parking space for vehicles, there will be an area for residents to store bicycles. Buyers will also receive a bicycle with the purchase of a unit and a lifetime membership with Car2Go with a $500 credit for the service.
“The East Village master plan vision places enormous emphasis on the pedestrian experience,” says Michael Brown, president and CEO of CMLC.
“You can see this focus demonstrated across the neighbourhood with pedestrian-only streets, pedestrian bridges, wide sidewalks and public parks designed for resting and visiting.”
Interested purchasers will be able to register for more information on the project when its development permit is approved. For more information on the long-term vision for East Village, CMLC has an outline of the plan at the East Village Sales and Experience Centre at 553 Riverfront Ave. S.E. CMLC shares the space with sales centres for the FRAM+Slokker and Embassy Bosa projects.
Knightsbridge’s N3 project features two residential towers in East Village on 8th Avenue SE.
Joe Starkman, president of Knightsbridge Homes with Calgary Municipal Land Corp. president and CEO Michael Brown, after securing the plot for the N3 development.