- What A 6-acre parcel in Calgary has traded
- Why The land in the Hillhurst area is zoned for mixed-use towers up to 15 storeys
- What next Sumus Property Group and Bankside Properties have purchased the site
Sumus Property Group and Bankside Properties have bought a 6-acre parcel in Calgary’s Hillhurst neighbourhood for $38m, Green Street News can reveal.
Northwest Healthcare Properties REIT sold the site, at 1402 Eighth Avenue NW. NAI Advent Commercial Real Estate and Goodman Commercial brokered the sale.
The new ownership group intends to develop a pedestrian focused, mixed-use urban village. Construction on phase one will commence in 2026.
The property is less than 3 km from downtown Calgary and is within 1 km of Highway 1. It’s also close to the Southern Alberta Institute of Technology.
