CALGARY — Melcor Developments Ltd. is planning a nearly two million square foot business campus development of office, retail and industrial space at the corner of Deerfoot Trail and Country Hills Boulevard on 68 hectares of land which will incorporate the existing landscape and a natural pond, the Herald has learned.
Jarett Thompson, regional manager-south for Melcor, said the company has owned the land for quite some time now.
The project is called The District at North Deerfoot.
“It will obviously be phased but the clear intent is to create a unique kind of business campus that will emulate more your college-type experience where it’s a little more inviting just due to the unique location and topography with Nose Creek Park and a lot of environmental and municipal reserves. There’s a tremendous amount of green space,” said Thompson.
“It’s going to be a comprehensively-planned and architecturally-controlled business campus with a focus on employee lifestyle.”
The site is currently being serviced.
“We’re excited to get this project and we’re certainly going to use it as a flagship,” said Thompson.
Development will include light industrial use, retail use, a gas station, restaurants, quick-service restaurants, a hotel and office space. Overall plans for the site are still being determined.
An office building of about 95,000 square feet is scheduled to be under construction as soon as Melcor gets its building permit from the city. Construction could start by the spring of next year.
“There’s an aggressive business plan for next year where there will multiple buildings under construction and it should be a mix of industrial, office and retail all under construction,” said Thompson.
“On a development of this size, there will be a couple of sales. So for instance we don’t pretend to be hotel developers. So a portion of it will be sold to other users.”
The development timeline is largely market dependent but Thompson said the project would likely be a five to 10-year build out.
On the southwest corner of the property is a pond of more than four hectares. The plan is to have a two-metre wide asphalt trail tying into the regional trail system of Nose Creek.
“We’re actually going to provide outdoor fitness facilities,” said Thompson.
Greg Kwong, executive vice-president and regional managing director for CBRE Limited in Calgary which is involved in the leasing of the project, said the site is ideal along the north-south transportation corridor and along two heavily travelled roadways. It’s also close to the airport and Stoney Trail.
“From a retail perspective, it’s excellent because a lot of the new housing development that’s gone on over the last five to 10 years has been up in the northeast and straight north part of Calgary,” he said.