Calgary city council has approved a rezoning change that will allow for the development of a 16-storey, mixed-use tower in the Kensington area.
The proposed development is situated on the corner of 10th Street N.W. and Kensington Road N.W. The project is slated to include a commercial/residential tower and public plaza, the Calgary Herald reported. The site is currently occupied by the Osteria Chef’s Table restaurantm, whose owners also own the entire site, and a Japanese Fusion eatery.
Council unanimously approved the property’s rezoning application and a local area redevelopment plan amendment. The Kensington area is a popular haven for restaurants, bars and retail outlets.
Osteria Chef’s Table was originally known as Osteria de Medicii and founded in 1989 by Antonietta Terrigno and her husband Rocco. Their sons Maurizio and Mike are also active in the business. The Italian restaurant has fed several international celebrities over the years.
The Terrignos are redeveloping the site through their investment company. Local development and planning firm QuantumPlace is designing and developing the project for Terrigno Investments.
The Terrignos will hold off on filing a development permit application for a few years because they have other development projects in the works, Jessica Karpat, a Quantum Place principal, told the Calgary Herald.
Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate.
Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s.
In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star.
Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.