In the more than 40 years since its founder Morris Kowall began developing some of Western Canada’s first retail centres, Royop Development has contributed to the growth of this city by constructing and managing many successful real estate projects.
The focus has primarily been with retail centres it has built and leased, but this Sunday it embarks on a new venture in building a dynamic shopping destination in which all units will be sold to local entrepreneurs, providing them with a unique opportunity to own their own commercial retail space.
The ground-breaking ceremony for Savanna Bazaar will be held on the site at 88th Avenue and 60th Street N.E. Members of the public are welcome to the event that will feature cultural performances, food trucks and family activities, along with representatives of Royop and city and provincial politicians.
The land on which Savanna Bazaar is to be built, purchased from Genstar, is in Saddle Ridge. Melvin Foht, president and COO of Royop, says after discussion with the needs of the community, the decision was made to build a shopping centre to cater to the various ethnicities and cultures of that area of the city and to market the buildings.
Abugov Kaspar Architecture, which has enjoyed a long relationship with Royop, was commissioned to design the centre inspired by the open-air markets found throughout South Asia, a vibrant hub for the more than 200,000 residents of northeast Calgary.
The 7.2-acre site is conveniently located alongside a proposed LRT station, and borders a pedestrian connection between a neighbourhood park and the transit hub with angle parking along each side of the walkway. To the north and west, a number of multi-family residences are proposed for the transit-oriented development that includes several neighbourhood parks and other urban amenities.
The walk-in entrance to Savanna Bazaar will take you through a decorative archway into a landscaped area between lots of surface parking, where space is set aside for activity features including concrete tables for visitors to play carom.
Avison Young vice-president of retail Hani Abdelkader has been retained to sell the units and reports that a building has already been purchased to house a large ethnic grocery store, and sales of the remaining seven buildings are going well.
Royop executive vice-president Jeremy Thal says 70 per cent of the buildings are already accounted for in the 95,000-square-foot development, which will be managed by Royop Property Management division to ensure it will be professionally …read more