Red Deerians can expect details about a new residential townhouse development for Capstone to be announced soon.
Cory Edinga, Capstone project manager, said hopefully construction on the project, to provide about 64 units, will begin in the next few months.
“I’m pretty excited for it. It’s quite unique and definitely something Red Deer hasn’t seen, but it’s a great fit for Capstone,” Edinga said.
The project will be located next to ALEX, a five-storey, 62-unit residential development being built along Alexander Way, west of Carnival Cinemas.
Construction on ALEX started in January with completion anticipated in summer 2025. Work on the structure’s underground parkade is underway with most of the pre-cast cement panels installed.
A plan is also in the works to turn the Carnival Cinemas building into a commercial/residential complex.
Edinga said updates for Green Spine Park, located behind ALEX and the townhouse project, will likely happen next year and could include a water feature and playground. Trails already exist with some landscaping.
“It would be great if we could get in and build those so that when those projects are starting to be occupied, those residents will have the amenities right outside their door.”
Related:
Red Deer breaks ground on residential building in Capstone
East Lincoln Properties is building a one-storey, L-shaped strip mall east of Troubled Monk on 45 Street. Known as 5441 Centre, the commercial project is about 16,000 sq. ft.
Edinga said the shell of the building will be finished this summer and a bagel shop Booyah Bagels will be one of the tenants. Other tenants have also been secured but there are still a few units available.
He said interest in Capstone has seen a strong uptick over the last year.
“We’re thrilled to see the activity. A lot of that has to do with market conditions and rental rates going up. Some of it has to do with federal funding the developers are able to access.”
He estimated about one quarter of the land in Capstone is still vacant, including some privately held sites. Most of it will eventually be used for either residential or mixed-use development with some commercial units on the bottom and residential above.
Related:
Red Deer city council will consider rezoning Carnival Cinemas for residential/commercial development
This month’s activity at Canada 150 Square will kick into high gear with the Sounds Like Summer Music Series starting May 5, Food Truck Friday returning on May 10, Capstone Night Market on May 10, Capstone Cabaret on May 17, and more.
Edinga said more community groups are using the square and Red Deerians are on board.
The Capstone community vision is to create a destination urban, mixed-use, community of 5,000 residents with retail and commercial services for easy access.
szielinski@reddeeradvocate.com
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