The city says the revitalization of the East Village neighbourhood is ahead of schedule.
The Calgary Municipal Land Corporation (CMLC) says new roads and underpasses are in place and the area has been flood-proofed.
- King Eddy hotel dismantled, pieces stored meticulously
- Architects chosen for Calgary's new $245M central library
- Beach in the plans for St. Patrick's Island
The area east of Calgary's City Hall has been slated for several major cultural projects, including the new central branch of the Calgary Public Library.
The National Music Centre is also planning to build its new complex in the area.
CMLC says it has committed $260 million towards improvements — which includes a commitment of $70 million to the Central Library project — in the area and has attracted nearly $1.6 billion of new development in the community.
"I think Calgarians will be awestruck to learn how the east side of downtown is transforming into a new urban village," said CMLC president and CEO Michael Brown. "If you haven't been here in a while, it's worth the trip to see all the change."
The city has already developed the river walk along the Bow River and completed an underpass and road work.
The area will be home to thousands of new urban dwellers. The city says more than 70 per cent of the available land for housing has been purchased by developers. Construction has begun on several buildings.
Most of the development will take the form of condominiums, but CMLC says it will announce the area's first multi-family and rental projects this year.
In terms of commercial tenants, Hilton Hotels announced it will build a 300 room facility and the former Simmons Mattress factory will house businesses operated by three Calgary food providers.
The East Village area will also be linked by a new pedestrian bridge to St.Patrick's Island, which is undergoing a major renovation.
Watch CMLC's 3D animation showing the progress to date and future development plans for the East Village area.