A developer wants to build what he calls “a truly spectacular, world-class development” on a former quarry site near Calgary’s downtown.
“The area is really vibrant, and there’s so much potential to bring in new businesses and new jobs and generate revenue,” said John Auerbach, managing director of the Calgary-based development company Forest City City, which is building the $600 million Calgary Heritage Centre.
Auerbeck said Forest City will not be selling the site to developers.
“We’ve got a very good team and a very solid team behind this project,” he said.
He said Forest Towne Properties is the developer behind the proposed site, a 2,300-hectare complex in the city’s west end, just north of the Stampede Grounds.
“They’re going to be very, very active in this community and the city,” Auerba said.
The development would be part of a larger development plan that includes a hotel, retail and a large condo development.
It would not include housing.
Calgary Heritage Minister Danielle Larivee said the province will be monitoring the project closely.
“It is a real opportunity for Calgary to make significant investments in our city and our economy, and I am very pleased to hear that Forest City is excited about this project as we work with the city on other projects,” she said.
Forest City says it has no immediate plans to redevelop the quarry site.
The Calgary Herald reported in April that Forest Townes developer had begun building the site.
In a May interview, Auerbe said the quarry is now worth $2 billion.
A spokesperson for Forest City did not respond to a request for comment on this story.
Forest Town says it is already the largest developer in Calgary.
“For the past 30 years, we’ve been building a diverse, global team,” Auebach said.
“And it’s a real shame to see that our team is being sidelined by a company that’s doing the exact opposite.”
Forest Town has a history of building projects in Canada.
In 2014, Forest Town completed the construction of the City of Calgary’s City Hall.