Canada-based real estate company Dream Unlimited has broken ground on C$2.5bn ($1.86bn) Alpine Park, a mixed-use scheme in Distillery District, Toronto.
The move follows the award of the final construction contract by the province for the completion of the last phase of the Southwest Calgary Ring Road, which is said to be the pivotal access for the project.
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Dream Calgary Land division general manager Tara Steell said: “With the upcoming opening of the Calgary Ring Road, Alpine Park is well located and easily accessible to the whole city.”
The 4,400-acre Alpine Park green-field development was initially planned more than two decades ago.
Dream Unlimited chief responsible officer Michael Cooper said: “We started assembling this development in 1997 and today, 23 years later, we are proud to commence development of this exceptional project.
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“Alpine Park is among some of our most prestigious mixed-use communities, along with The Distillery District and Canary District in Toronto and Zibi in Ottawa. We strive to build communities that help make peoples’ lives better.”
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By GlobalDataExpected to create 1,700 direct and indirect jobs per year, the mixed-use scheme would create more than 20,000 new jobs over the 15-year operational life of the project.
Dream expects the scheme to also create 4,000 ongoing jobs throughout the commercial, retail, industrial and institutional areas that are integrated within the neighbourhood.
The first phase of the project includes the development of 120,000ft2 of retail space and 1,276 residential units.
The Alpine Park scheme is designed by HDR/Calthorpe and its partner architect Civitas.
The Alpine Park’s founding builder partner group include Calbridge Homes, Cardel Homes, Genesis Builders, and Homes by Dream.
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Aerial view of Southwest Calgary Ring Road, which will be the pivotal access for Alpine Park. (Credit: KGL Constructors)
