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Thursday, February 28, 2013

Unique Mixed Use Development Announced in Downtown Calgary

By Walsh Mannas (Calgary)
3 Eau Claire is the third office tower development to be announced in downtown Calgary and is scheduled to start development later this year.  3 Eau Claire is a mixed use office and residential condominium development that has planned two multi-residential towers to be built on top of the office podium.  The development is located in the Eau Claire commercial node in the heart of downtown Calgary.  The announcement was covered by the Calgary Herald in an article this morning which can be found here.
Shaw Communications has announced they are going to take 12 floors in the development which will consist of the entire office podium.  3 Eau Claire will be an iconic development for downtown Calgary as the residential towers will be the tallest in the city and linked with a sky bridge on the 40th level.
We have long watched employers in the Calgary market work to distinguish themselves in the eyes of their employees through leasing innovative and high quality office space.  Shaw’s move to rebuild their downtown tower and take 12 floors in 3 Eau Claire is a great example of this as the space “will feature rooftop terraces, collaborative work spaces, a wellness centre, and the latest in environmentally sustainable building concepts”.
Shaw's decision to stay in the downtown core is in stark contrast to Imperial Oil choosing to relocate to Quarry Park in Calgary's suburban SE.  These two corporate decisions are great examples of Calgary's dynamic office market with each company choosing vastly different locations to attract employees.  One reality that is consistent in both these moves is that unique, high quality office space continues to remain sought after in Calgary's tight office market.

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