Contact Us
News

RioCan, Boardwalk REIT Team Up On Calgary Rental Tower

An aerial view of RioCan's Brentwood Village in Calgary

RioCan REIT and Boardwalk REIT are partnering on the development of a mixed-use tower at RioCan’s Brentwood Village shopping centre in Calgary (above). The 11-storey building—RioCan’s first rental residential development in Calgary, as per its urban intensification strategy—will have 165 apartment units and a 10k SF retail podium. The JV partners each have a 50% stake in the project, and Boardwalk will pay RioCan $2.9M for its interest in the subdivided land. The firms will co-develop the asset, with RioCan managing the retail and Boardwalk the residential. Construction is slated to begin in Q3 2017.