Calgary’s most dense inner-city community, by population and housing counts, the Beltline, hosted the ground-breaking ceremony for a new 24-storey, upper-end rental apartment high rise tower on Thursday. Plans for the tower, from GWL Realty Advisors, include 219 rental units atop ground level retail at 1405 4 St. SW. The location was formerly home to a Safeway store and more recently a Sony electronics store. According to Glenn Way, president of GWL Realty Advisors, the building will have open-concept apartments, lots of natural light, modern finishes and amenities including a fitness centre, social lounge, co-working spaces, rooftop dining and pet-friendly facilities, such as a dog run and pet wash. The development features nearly 6,000 sq. ft. of pedestrian oriented retail space on the ground floor, with enough space for up to five commercial units, offering high-quality retail amenities for residents and the surrounding community, added Way. “This new development represents our continued commitment to building high-quality rental communities in Canada's top urban markets," said Way. "With its prime location, premium amenities, and our long-term approach to investing, we are excited to play an active role in shaping Calgary's future and contribute to establishing the Beltline as a premier residential neighbourhood." .Way said the building will be developed on behalf of its client, The Canada Life Assurance Company and the property will be allocated as an investment to the Canada Life participating and non-participating life insurance accounts. Calgary Mayor Jyoti Gondek was part of the ground-breaking crew. "Projects like this show confidence in Calgary's urban core and align with our goals for density, sustainability, and vibrant, livable communities," said Gondek. "We welcome GWL Realty Advisors' investment and look forward to seeing this new development take shape in the heart of our city." The new development will start taking shape with construction starting immediately, with completion expected within 36 months and occupancy by mid-2028. The new Beltline project reflects GWLRA's vision of creating boutique, hospitality-inspired rental communities in exceptional locations, said Way. “GWLRA is actively working to help address the housing shortage in major Canadian cities by managing a development pipeline that includes nearly 3,500 residential units across the country in various stages of planning, pre-development, or development.” he said. “Since 2020, the company has added over 1,500 rental units in key markets, demonstrating its commitment to enhancing urban living through thoughtful development.
