Another groundbreaking has taken place in University District, adding more residences to what has become a very popular community incorporating the best in lifestyle options into the strong social fabric of the city.
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The ceremonial shovels dug into land that will provide a new rental housing development that will add 322 units and 645 beds to Calgary’s northwest housing market, primarily designed as a student and young professional property.
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Known currently as Block 22, it is a development of Gracorp, a subsidiary of Graham Construction, in partnership with Harrison Street, one of the leading investment management firms headquartered in Chicago and London that has approximately US$56 billion in assets under management on behalf of institutional investors across the globe.
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Trevor Dickie, vice president of real estate Alberta for Gracorp, says, “The project and partnership are supported by the construction expertise of our parent company the Graham Group. Together this is the Group’s fifth project in University District and we are thrilled to continue our partnership with Harrison Street.”
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Harrison Street is a leader in the purpose-built student housing market. In Canada, its portfolio includes nearly 2,400 beds, of which 1,300 are currently under development. Head of Canada for Harrison Street, Jonathon Turnbull said at the sod-turning, “We are thrilled to expand our presence at University District and look forward to continuing to provide much needed purpose-built student housing to the market. University District has become one of the premier communities in Calgary and we believe this investment will be a welcome addition for students looking to live near the university.”
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Aria, a mixed-use tower above Save-On-Foods with 288 suites, was Gracorp’s first foray into the district followed by Encore which is under construction. When completed in the summer of 2025, it will offer 303 attractive to students apartments. Working closely with the University of Calgary Properties Group (UCPG), besides the residential projects providing almost a thousand rental units, Graham was responsible for building over 200,000 square feet of retail/commercial and the large Central Commons Park.
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UCPG president and CEO Novy Cheema says, “We look forward to continuing relationship with Gracorp, Graham Construction and Harrison Street. Block 22 embodies our shared values and is set to become a highly desirable place to live in a premium location within walking distance to the university’s main campus, retail Main Street and the Alberta Children’s Hospital.”
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Like Gracorp’s other two towers on UCPG lands, Block 22 was designed by the Calgary office of Zeidler Architecture. On land immediately to the south of Aria, the 306,000-square-foot building will stand 12 storeys high on the west stepping down to seven, including five townhomes, on the east facing onto Central Park. Block 22 will have underground car and bike parking, fitness gym, and other amenities including lounges and co-working areas.