Monday, 16 December 2013

Calgary Gateway to Become the Tallest Tower in Canada

The Rumours of the Calgary Gatway Tower are now in full force. Here is what we know so far based on rumours from various internet forums regarding the topic. According to online sources "The Gateway Project" was one of the largest towers to be halted during the economic downturn about 5 years ago.

And rumours have been circulating that the project is now restarting and is totally seperate from the existing IOL site which has also had rumours of a new tallest tower in Calgary. Right now the Alberta city is smarting from a tremendous economic boom fueled by high-tech and industry related to servicing the northern oil patch. The influx of people which will fill the tower which could be as high as 80 to 90 floors based on some sources.

The project will will eventually build to street level, where a floor of commercial space will be leased out. Those portions of the project are expected to cost around $550 million. Half the commercial space is is currently in pre-leasing talks.

Updates to be posted.

Calgary Construction Ranks Near the Top of the NationCalgary, is at the top of the list if it was bigger, it might dominate the rankings as I apply the ranking on absolute numbers. However if it was a per capita list, Calgary might well be at the top, although . There is much oil money in Calgary and people there have the means to escape increased federal oversight of the real estate market including new measures to increase the down payment required for a new home and the shortening of the amortization period for new mortgages. There is almost as much skyscarper construction in Calgary relating to offices as there is in Toronto. No small feat for a city 1/5 the size of hogtown.

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