Developer turfs skyscraper project along Calgary’s Stephen Avenue
Global News
Triovest withdrew its development permit applications for the Stephen Avenue site, but plans to re-evaluate its approach to the project in Calgary's downtown core.
A massive, three-tower project that would bring significant change to Calgary’s Stephen Avenue has been scrapped by the company that proposed to build it.
It was called Stephen Avenue Quarter, and was set to include three towers on top of a multi-storey podium: a 24-storey office tower, a 54-storey rental tower and a 66-storey condo tower, which would have become the largest skyscraper in Western Canada. (Stantec Tower in Edmonton currently holds the title of tallest building.)
Preliminary designs also featured a retail shops, office space, a hotel, rental and condo units, as well as five levels of underground parking.
The project was proposed along Stephen Avenue and 7 Avenue S.W. between Centre Street and 1st Street S.W.
Earlier this month, Triovest withdrew its development permit applications for the site, but plans to re-evaluate its approach to the project.
“Triovest is stepping back from the project due to the key anchor tenant pulling out, which means withdrawing the permits,” Triovest marketing and communications vice-president Ryan Schott said in a statement.
The project encountered several challenges during the planning stages, including its potential impact to heritage buildings along Stephen Avenue.
The project would’ve taken up nearly the entire block, which includes 15 heritage buildings listed on the Inventory of Evaluated Historic Resources; seven of those buildings have historic designation.
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