GWL Realty Advisors broke ground on a new 24-storey, 219-unit, hospitality-themed rental tower on June 12, marking the start of a 36-month journey to creating one of the latest towers in the Beltline.

Situated on the site of the former Sony Store on 4 Street SW, the goal, much like the former store, is to bring modern amenities to Calgarians in an area dominated by towers built in the 1960s and 1970s.

“If you look at a lot of the housing stock around here, it’s older generation. Every city needs new generation over time, and we’re trying to build on a great location, with well-designed, thoughtful, quality materials,” said Glenn Way, President of GWL Realty Advisors.

Units will be professionally managed, with open concept layouts, lots of natural light from large glass windows, and modern finishes.

The tower is being built on behalf of the Canada Life Assurance Company, something Way said reflected the values of GWL Reality Advisors building for the long-term.

“We don’t build to sell, and we like the idea of trying to do it right and build a product that’s attractive to people,” he said.

Living well, in the heart of the Beltline

It’s highly walkable to both Stampede Park and the downtown core, close to parks and recreational opportunities, and with dozens of local restaurants, bars, and retail locations nearby, GWL Reality Advisors felt it was an attractive location and purchased the site in 2018.

“From a location perspective. We think it’s fantastic. The walkability score here is 98,” said Way.

Importantly, he said, the tower would also be a hub for community, pets included.

“If you’re a pet owner, it’s pet-friendly. There’s going to be a dog run, there’s going to be a dog wash, there’s going to be a fantastic gym, there’s going to be a co-working area, there’s going to be a beautiful rooftop deck to enjoy the views and enjoy outdoor space.”

The views include being able to see the nightly fireworks from the Calgary Stampede.

The GWL Realty Advisors tower will have, when completed, almost 6,000 sq. ft. of pedestrian-oriented retail space on the ground floor, with space for five commercial units.

Tower expected to be open for renters in 2028

Tenants will begin to be accepted for the tower in mid-2028.

Mayor Jyoti Gondek said that residential construction, especially rental construction, was important for Calgary.

“Any time you can increase the supply of housing, you are offering more opportunities for Calgarians to be able to live with dignity. Not everyone wants to be an owner. Some people want to rent. So offering rental and ownership opportunities is incredibly important.”

She said that the investment in new residential towers, like that from GWL Realty Advisors, was very exciting for Calgary.

“We have worked really hard to demonstrate to investors that we are a city that believes in ourselves, and the type of investment we’ve made in the downtown core over the past few years is paying off. That’s how you get partners to come to the table, and that’s how the private sector starts to do things with you.”

To learn more about the project, visit www.gwlrealtyadvisors.com.