Anthem Properties used a challenging parcel of land along the Bow River in Calgary, Alberta, Canada, to develop Waterfront, a prime residential community.

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For more than 10 years, numerous developers passed on a 5.2-acre parcel of land along the Bow River in Calgary, Alberta, Canada, despite its attractive downtown location. The prospect of significant remediation costs proved a barrier to potential development.

But after thorough risk analysis of the many surveys, reports and analyses by its environmental engineers, Bel-MK Engineering Ltd., Anthem Properties of Vancouver, British Columbia, finally bought the former location of Greyhound Bus Barns, hydrocarbon contamination included. More than $3 million (Canadian) in soil remediation later, Anthem Properties had a prime piece of property in a growing Calgary residential market clamoring for high-end mixed-use property.

“The proximity to the river meant that the site’s water table was exceptionally high, resulting in large quantities of ground water” says Mario Ariello, vice president of construction. “We built two water chambers on site to hold the ground water and to regulate the release of discharge water into the sanitary system to no more than 35 liters per second.

Anthem contracted Hazco Environmental and Decommissioning Services to excavate more than 40,000 cubic meters of rock, clean fill and 68,000 tons of contaminated material from the site.  

The resulting excavation is the location of the parkade for the first phase of the project.”

The four-level underground garage forms the foundation of Waterfront, a four-tower, mixed-use luxury residential development that will provide 1 million square feet of riverfront housing and 20,000 square feet of retail space.

A Sell Out
With its downtown location, high-end finishes and novelty in the Calgary market, One Waterfront, the first tower, sold out in just one day when its 172 units were made avilable in September 2007.

“We went to the community and asked what they wanted, knowing city was looking to bring urban living and additional density to the downtown,” says Sylvia Yung, vice president of marketing. “We knocked on doors to find the associations that were active in the community, asked for their input and kept them informed throughout the process. We addressed concerns like available parking and traffic safety for seniors. “We will also add the first bike lane on the roadway in downtown Calgary,” Yung adds.

Weather Permitting
The project has been subdivided into three adjoining sites with the first phase of 600 residential units occupying the southwest corner of the site.

Construction began in October 2007 on what will be the second-tallest tower of the three towers on the first site when construction is completed in the first quarter of 2010.

One Waterfront’s units range in price from $350,000 for approximately 500 square feet to more than $1 million for a two-bedroom plus den units at 1,200 square feet. When released, penthouses  will cost up to $3 million.   

Waterfront’s first site will be built in five phases, with the first being the four-level underground parkade that spans the entire construction site and which will be shared by all the towers.

This portion of work started in May 2007, and Ariello says Anthem is three months ahead of schedule.

“With temperatures dipping to 58 F below zero, the weather dictates our schedule,” Ariello says. “By effective use of heating units, we’ve been able to extend our work through much of the cold weather.”

The design of the first site by Rafii Architects provides a variety of residential unit types, from loft-style apartments in the four-level podium to tower condominiums with staggering 270-degree views, as well as townhomes along the inner road. The ground level will feature a grand lobby entrance and retail space including a restaurant and other services and amenities for residents and visitors alike.

Taking Over
In order to better control the scheduling and quality of the project, Anthem Construction took over as general contractor in December 2007.

“We had originally intended to engage a local contractor for construction management,” Ariello says.

“But we found that even though we were relatively new to the Calgary market, we realized we had strong relationships with the local consultants and trades.”

The kitchens will have Subzero and Electrolux appliances with stone countertops and European-style fixtures.
        
About Anthem Properties
Since 1991, Anthem Properties says it has owned, managed and/or developed more than $ 1 billion in assets.     

These include 6,000 multifamily units, 2.3 million square feet of retail space, 1,100 single-family land lots and 100 acres of industrial land.

“While our cities sprawl requiring long commutes, we are putting more value on our time so people are refusing to spend hours in traffic and are beginning to discover the benefits of urban living,” says Eric Carlson, Anthem’s founder and CEO.