GWL Realty Advisors (GWLRA) has broken ground on a 24-storey rental-apartment tower in Calgary’s Beltline district.

Located at 1405 Fourth Street S.W., the project will deliver 219 professionally managed rental units along with nearly 6,000 square of pedestrian-oriented retail space at street level.

“This new development represents our continued commitment to building high-quality rental communities in Canada’s top urban markets,” said Glenn Way, president, GWL Realty Advisors.

“With its prime location, premium amenities, and our long-term approach to investing, we are excited to play an active role in shaping Calgary’s future and contribute to establishing the Beltline as a premier residential neighbourhood.”

The Beltline, located just off downtown, has a large supply of older rental-housing stock.

Mayor Jyoti Gondek, who attended the groundbreaking, praised the project’s alignment with city goals.

“Projects like this show confidence in Calgary’s urban core and align with our goals for density, sustainability, and vibrant, livable communities,” she said. “We welcome GWL Realty Advisors’ investment and look forward to seeing this new development take shape in the heart of our city.”

The tower is being developed on behalf of The Canada Life Assurance Company and will be allocated as an investment to Canada Life’s participating and non-participating life insurance accounts. Construction is expected to take approximately 36 months, with completion targeted for mid-2028.

The building’s design includes open-concept layouts, modern finishes, ample natural light, and amenities such as a fitness centre, rooftop dining, co-working spaces, a dog run and pet wash facilities. The ground floor will support up to five retail units serving both residents and the broader community.

GWLRA is working to address housing shortages in major Canadian cities, managing a pipeline of nearly 3,500 residential units nationwide. Since 2020, the company has added more than 1,500 rental units in key urban markets.

Pictured: Calgary Mayor Jyoti Gondek and others participate in a groundbreaking ceremony at GWLRA’s rental-apartment tower project site in the city’s Beltline district.

Photo: Courtesy of GWL Realty Advisors