Work is expected to begin this summer on a commercial building near the entrance to Riverlands.
CAPP Investments Ltd. plans to develop the two-storey building on the southwest corner of Taylor Drive and 45th Street. Sherry White, the project co-ordinator, said tenders are expected to close in the next few weeks and construction to begin shortly thereafter.
Occupancy is anticipated by next spring.
Tentatively slated to be called Riverlands Centre on Taylor Drive, the 21,000-square-foot building will consist of professional office space, said White.
“There’s the opportunity to have retail on the main floor,” she added.
CAPP Investments already has leasing commitments from two major tenants, said White, with these to occupy more than 70 per cent of the building.
She said she couldn’t identify the tenants at this time, but confirmed that one is involved in the accounting industry.
Earlier in the week, Red Deer’s municipal planning commission issued site development approval for the commercial project.
General contractor Timcon Construction Ltd. presented two design options: one that Paul Beaumont of Timcon described as “sleek and modern-looking,” and the other with a mansard-style roof and a stone and dark-glass facade.
City manager Craig Curtis said the latter design reflected the preference of the Greater Downtown Action Plan committee, which favoured a look that illustrates the residential-commercial mix planned for Riverlands. It was accepted by the commission.
“It’s certainly a very prominent site,” observed Mayor Morris Flewwelling.
That prominence appealed to CAPP Investments, said White.
The property also has great potential in light of the proposed development of nearby Riverlands, and it’s close to the proposed Skyway Professional Centre that CAPP Investments is helping develop next to the Red Deer Regional Hospital Centre.
Three years ago, another developer obtained site development approval for a four-storey medical-commercial building at the same location as Riverlands Centre on Taylor Drive. That project never got off the ground, however.
White said CAPP Investments considered constructing a building bigger than two storeys, but decided against it. Utility rights-of-way on the lot and the need for sufficient room for parking were considerations, she said.
“The site does come with some hurdles,” she acknowledged, pointing out that it has streets on three sides.
White said she couldn’t comment on cost until tenders have been received.
CAPP Investments, which is owned by Reg and Brenda Kinch and White, recently developed Westview Business Centre, using the former Western Collision Repairs building at 4315 55th Ave. It’s now completing a similar makeover of the former Catons Ltd. building at 6751 52nd Ave., with Pineview Centre the result.
In the case of Riverlands Centre on Taylor Drive, some tenants in the new building will be partners in the project, said White.
hrichards@www.reddeeradvocate.com