(Contributed graphic)

$36M condo project on its way to Capstone development

Calgary developer plans to create 180 housing units to open in 2022

A $36-million condo development will kick off the City of Red Deer’s transformation of the Capstone area.

It’s being billed as a major downtown revitalizer by Mayor Tara Veer, who noted having 180 more individuals and families living in the city’s core will provide a boost for existing businesses, as well improve the prospect of gaining more downtown attractions.

The first sale of 2.5 acres of city land to Calgary developer Brad Remington Homes was announced Thursday.

Company owner Brad Remington said he plans to build about 180 new affordable condominium homes in three four-storey complexes on an empty lot just west of Carnival Cinemas.

The one- to three-bedroom units will sell from $160,000 to $250,000 and are expected to go on the market next spring, once the city’s development and building permitting process wraps up.

Remington expects they will be move-in ready by the spring of 2022.

Having cycled along Red Deer’s bike paths, Remington said he began to visualize how great it would be to live in the heart of this city, within a short walk of the riverside trails and city parks.

“I could picture myself living here,” said Remington, who intends to bring his bike to keep taking advantage of the trail system while he’s working here.

The deal between the developer and the city represents the first investment of private equity into the Capstone community.

As the city has about 18 acres for sale in Capstone, Veer hopes this is the start of many other such partnerships with commercial and residential developers.

“This is a turning point in our city history,” added the mayor, who believes the condo development will begin transitioning a former industrial area “into a modern, walkable urban community …

“Capstone represents the next generation of living, working and recreating in our city.”

The investment “prioritizes our downtown” and demonstrates confidence in Red Deer as a growing marketplace, Veer said.

Earlier this year, city staff began seeking developers with the financial ability and proven expertise in creating multi-family community development.

City manager Allan Seabrooke said, “Developer selection is a critical step in a redevelopment program of this magnitude, and so our outreach was intentionally broad.”

Brad Remington Homes was chosen because it has constructed more than 3,500 homes in southern Alberta, primarily in Calgary.

Seabrooke said the company has a reputation for quality building and a philosophy of creating affordable homes for working people.

Remington was impressed by the city’s vision for Capstone and believes many Red Deerians will aspire to live in this riverside community.

“We’re thrilled about the opportunity to redefine a whole new neighbourhood,” said the developer, who sees young families and first-time home buyers, as well as older people who want less responsibility, as new condo owners.

In 2009, the city began the area’s transformation by relocating the civic yards. Since then, utilities and services have been upgraded, the Riverwalk pathway built, and road, landscaping and parking improvements done.

The Capstone vision was developed by urban strategists GEHL Studios, outlining connected pedestrian and bicycle trails to the Red Deer River valley and to the downtown core.

By 2040, the plan is to have more than 5,000 new residents in the neighbourhood, as well as two million square feet of commercial and retail developments.

red deer city

Get local stories you won't find anywhere else right to your inbox.
Sign up here


(Contributed graphic)

Just Posted

Lynne McConnell, a Red Deer single mom who runs a delivery company, is left without a car for her business after her vehicle was stolen twice in about 48 hours. Photo by Mamta Lulla/Advocate staff
Highway 11, from Sylvan Lake to Rocky Mountain House, is about to be twinned in a $120-million project announced Friday. Photo by PAUL COWLEY/Advocate staff
Town of Sylvan Lake likes Highway 11 twinning plans

Province plans to twin Highway 11 to Rocky Mountain House

The Red Deer Boxing Club has raised money to expand programming, but still needs a larger space to operate in when it’s allowed to reopen. (Contributed photo).
Red Deer Boxing Club has obtained $70,000 in grants but is still seeking a larger space

Without expanded programming, the grants must be returned: manager

Lynn Van Laar, chair of this year’s Christmas Wish Breakfast, said the event was planned outdoors to minimize the risk of COVID. Photo by Mamta Lulla/Advocate staff
Outdoor Christmas Wish Breakfast helps central Alberta families this holiday season

The coronavirus pandemic isn’t going to stop children from having a merry… Continue reading

A fall stretch of long, warm weather has meant a much better harvest than last year, when this kind of snow arrived a month earlier.
Photo by PAUL COWLEY/Advocate staff
Snowy roads in the forecast for Central Albertans

Central Albertans should expect a little extra snow on the roads for… Continue reading

Red Deer Rebels forward Chris Douglas will take on a different hockey challenge later this month, playing NHL 21 in a virtual Memorial Cup competition against some of the best players in the CHL. (Photo by BYRON HACKETT/Advocate Staff)
Douglas pumped to represent Rebels in virtual Memorial Cup showdown

In more than 250 days, Chris Douglas hasn’t had a chance to… Continue reading

Hockey Canada president and CEO Scott Smith speaks during a news conference in Calgary, Alta., Wednesday, Dec. 6, 2017. Hockey Canada announced Tuesday that two players at its nation junior selection camp have tested positive for COVID-19. THE CANADIAN PRESS/Jeff McIntosh
Two players at Canada’s World Junior selection camp test positive for COVID-19

Canada’s world junior hockey selection camp in Red Deer came to a… Continue reading

Los Angeles Rams cornerback Jalen Ramsey (20) knocks a pass away from Tampa Bay Buccaneers wide receiver Mike Evans (13) during the first half of an NFL football game Monday, Nov. 23, 2020, in Tampa, Fla. (AP Photo/Mark LoMoglio)
Goff throws for 376 yards, 3 TDs in Rams’ 27-24 win vs Bucs

Goff throws for 376 yards, 3 TDs in Rams’ 27-24 win vs Bucs

New York Red Bulls midfielder Dru Yearwood, left, fights for the ball against Toronto FC midfielder Jonathan Osorio during an MLS soccer match in Harrison, N.J., on November 8, 2020. THE CANADIAN PRESS/AP, Eduardo Munoz Alvarez
Experienced Toronto FC ready to take on upstart Nashville SC in playoff action

Experienced Toronto FC ready to take on upstart Nashville SC in playoff action

Canada's head coach Dave Lowry during practice at the IIHF World Junior Championship in Helsinki, Finland, on Wednesday, December 30, 2015. The Winnipeg Jets have hired Lowry as an assistant coach. THE CANADIAN PRESS/Sean Kilpatrick
Former WHL head coach Dave Lowry joins Paul Maurice’s staff in Winnipeg

Former WHL head coach Dave Lowry joins Paul Maurice’s staff in Winnipeg

Felix Auger-Aliassime, of Canada, returns a shot to Dominic Thiem, of Austria, during the fourth round of the US Open tennis championships in New York on September 7, 2020. THE CANADIAN PRESS/AP, Seth Wenig
A steady if unspectacular season comes to a close for Canada’s Auger-Aliassime

A steady if unspectacular season comes to a close for Canada’s Auger-Aliassime

Most Read