East Vil­lage’s tow­er­ing N3 vi­sion

Knights­bridge to of­fer 300 starter homes

Calgary Herald - Calgary Herald New Condos - - New Condos - JOSH SKAPIN

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.

For the Cal­gary Herald

Knights­bridge’s N3 project fea­tures two res­i­den­tial tow­ers in East Vil­lage on 8th Av­enue SE.

Gavin Young/Cal­gary Herald

Joe Stark­man, pres­i­dent of Knights­bridge Homes with Cal­gary Mu­nic­i­pal Land Corp. pres­i­dent and CEO Michael Brown, af­ter se­cur­ing the plot for the N3 de­vel­op­ment.

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