The Hillhurst Sunnyside Community Association says it will be sad to see its longtime neighbour, the CBC, move out of the area.

Board member Robert McKercher said he's disappointed by news of the public broadcaster's planned move from its home of the past half-century on Westmount Boulevard and hopes whoever takes over the prime real estate just off Memorial Drive will fit in with the character of the community.

The community will miss the annual CBC Stampede Breakfast, in particular, he said.

"It just adds some diversity to the community, makes it a bit more of a cultural hub to a certain extent," McKercher said.

Now that the move has been announced, many are speculating what will go in the CBC building's place.

"It could be desirable to somebody who wants a highly visible site," said Susan Thompson with Calgary Economic Development .

"It's got a lovely view. It's got lovely sight lines and access for transit."

If the building remains, Thompson said it could be used for office space or as another studio. If it's torn down, she said it could be used for a residential development or the buyer could apply to rezone the land for other uses.

McKercher said the community isn't opposed to a residential development, as long as it's not too high-density

"Anything that pushes beyond those in terms of height or density, traffic those would be of concern," he said.

But, at this point, the building is not yet for sale and its not clear when the CBC will put it on the market.

CBC Calgary expects be in its new home near the Foothills hospital by July 2017.