East Village masterplan map
Courtesy Calgary Municipal Land Corporation
Calgary’s Knightsbridge Homes has bought two parcels of land near the historic St. Louis Hotel in East Village and has submitted development plans to the City for N3, a 300-unit condo development aimed at buyers in their 20s and 30s. N3 is planned to only offer bike and microcar parking.
“We submitted the completed permit package to the City on June 6, with an understanding that it would be the first project of its kind in Calgary and would require 100 per cent relaxation of the land-use bylaw as it relates to residential parking allowances,” said Joe Starkman, president of Knightsbridge Homes in a press release.
Knightsbridge Homes estimates that the City’s land-use bylaw for the area would require 100 parking spaces for the development. To put even more incentive into the pedestrian lifestyle, condo buyers will receive a $500 Car-to-Go credit and a bicycle.
The concept drawing for N3 at 8th Avenue and 4th Street S.E. near the historic St. Louis Hotel.
“The East Village master plan vision places enormous emphasis on the pedestrian experience,” said Michael Brown, president and CEO of Calgary Municipal Land Corporation, the organization overseeing East Village’s redevelopment. CMLC noted in their press release that N3 is a transit-oriented development, very close to the LRT – only 270 steps from the City Hall CTrain stop.
Prices in N3 will average $225,000. “Developing and marketing products for Generation Y is a burgeoning business,” said Susan Veres, vice president of marketing and communications for CMLC. “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.”
The East Village will be home to more than 11,000 people when the redevelopment is completed in 2027. It’s planned as a mixed-use, amenity-rich downtown neighbourhood.