Background and Site Context
The owners of Sunnyside Greenhouses Ltd. announced their retirement in the spring of 2018 and sold their property to ONE Properties.
ONE Properties acknowledges the significance of the closing of this Calgary landmark and intends to create a high-quality development in its place that enhances the community.
The project site is 15 acres and is located northeast of Sarcee Trail SW and the TransCanada Highway. It also borders an active railway line on the east side of the site. The site is unique because it:
- Has high visibility from two major transportation corridors (16th Avenue SW/TransCanada Highway and Sarcee Trail SW)
- Is directly adjacent to a railway line
- Borders existing commercial properties to the south
As part of the planning process, ONE Properties completed empirical research which included an inventory of existing retail commercial space and analysis of existing customer patterns, and forecasted market growth in the area. Learnings from this study will help guide development of the subject site. The results show that:
- There is a low vacancy rate in Bowness; while there are many established commercial properties in Bowness, there is no current opportunity for large format commercial without an epic land assembly.
- Existing retail is locally focused and cannot satisfy all of the demand. Approximately, 94% of supermarket expenditures are leaving Bowness.
- The subject site can attract new customers into Bowness from the Trans-Canada Highway, and potential opportunities for such users to cross-shop on Bowness Road.
- Demand supports multiple super markets; Trinity’s Save On Food and the Farmers Market are not at risk.
One Properties is a developer focused on creating value through the strategic acquisition, development and management of retail, office, industrial, residential and mixed-use properties in progressive markets. The company is based in Edmonton with offices in Calgary and Toronto. ONE Properties has led the development of more than ten projects in Calgary, including VERSUS, a mixed use building located on 10 Avenue SW, two proposed mixed use developments – one on 12 Avenue SW and one on 9 Avenue SW – and a number of industrial parks.
Learn more about ONE Properties at www.oneproperties.com.