Developer breaks ground on $2.5B master planned community in southwest Calgary
Canadian developer Dream Unlimited has begun work on a major new mixed-use neighbourhood at the southwest end of Calgary.
Officials broke ground at the 646-acre greenfield site known as Alpine Park July 30. Dream estimates the master planned neighbourhood will take about $2.5 billion and 15 years to build.
“With the upcoming opening of the Calgary Ring Road, Alpine Park is well located and easily accessible to the whole city,” said Tara Steell, general manager of Dream’s Calgary Land division, in a release. “We have spent many years designing the best community we can, and Dream is thrilled to continue its long history of investing and building in Calgary.”
Laid out by design firm HDR/Calthorpe, the community will be largely residential, with retail, civic and office space interspersed. Once complete, Dream expects it to be home to more than 10,000 residents.
The build team consists of Calbridge Homes, Cardel Homes, Genesis Builders and Homes by Dream.
The start of work on the development coincides with the province handing down the final contract for the Calgary Ring Road project in June. The community is situated adjacent to the southwest portion of the beltline, which is expected to fully open by 2024.
Dream expects the project to create up to 1,700 jobs — in both on-the-ground construction and indirect work — for the next 15 years.