Hines is close to finalizing the full delivery of a new 531-unit rental apartment building to the Calgary marketplace.

Residents have begun to move into the Two Park Central multi-family development in the heart of the city’s Beltline district, located just off downtown near the Stampede grounds. The initial occupancy was made possible through this month’s delivery of the development’s podium, which includes 118 of the 531 suites.

“The full building will be delivered in August 2024,” Hines told Connect. “Given the property just recently launched preleasing, Two Park Central has leased approximately 30% of its podium units thus far.”

Two Park Central includes about 5,100 square feet of street-level retail space. Hines said it is currently in discussions with multiple prominent local food and beverage retailers.

Houston-based Hines is developing Two Park Central through the firm’s Canadian subsidiary. Hines is serving as the development manager and property manager.

Mississauga, Ont.-based EllisDon is the general contractor. Chicago-based architecture firm Solomon Cordwell Buenz designed the project, and Calgary-based GGA-Architecture is the architect of record.

The 40-storey project completes Hines’ Park Central master plan, which includes One Park Central and the Park Central Promenade and Walk.

The Beltline is an older district that has seen considerable redevelopment in recent years with more expected.

Hines is capitalizing on the property’s central location and proximity to rapid transit and bus services that easily connect it to the downtown and points north, south, east and west. The property is an area with a high walkability rating and sits near two C-Train stations adjacent to the Stampede grounds, and the downtown can be reached on foot if residents prefer to walk there.

Central Memorial Park, Memorial Park Library, and a variety of restaurant and entertainment options are also situated nearby.

Nearby retailers include Native Tongues Tacqueria, I Love You Coffee Shop Jr., F45 Training,Rodney’s Oyster House and strEATS Beltline Kitchen, among others.

Image: Courtesy of Hines