Concord Pacific breaks ground along Bow River, announces plans to redevelop North Hill Sears

Two construction projects are expected to create thousands of commercial and construction jobs for Calgarians.

On Wednesday morning, Canadian developer Concord Pacific broke ground on ‘The Concord’, a condominium complex on the south bank of the Bow River, near the Peace Bridge, and announced its plans to redevelop the Sears at North Hill into a high density phased residential and commercial facility.

“We recognize that Calgary may be feeling the effects of oil prices in the short term and this may be creating a cautious business environment,” said Peter Webb, Concord’s senior vice-president of development. “Concord believes in the entrepreneurial spirit of Calgarians.”

‘The Concord’, a 185 unit complex at the intersection of 6 Street and 1 Avenue Southwest, will be Concord Pacific’s first foray into the Calgary market and, according to Webb, the ‘first step in our long term commitment here to this city’.

“Concord sees great potential for Calgary as a model of great urban development,” said Webb. “It has location, international shopping, amenities, leisure infrastructure, natural beauty and a sophisticated market.”

The secant piling for construction of The Concord’s perimeter parkade is slated to begin on May 15, 2015. Centreville Construction will manage the construction of ‘The Concord’ which is expected to take between 30 and 36 months to complete.

“There’s still momentum in Calgary,” said Bruce Graham, Calgary Economic Development. “Building more downtown communities fits in with the city’s view around increasing density in our city and Concord is taking a lead role in helping Calgary grow into a model of effective urban development.”

Prior to the groundbreaking at “The Concord” site, Webb announced Concord Pacific has reached a $140M deal to acquire three associated properties from Sears in western Canada, including the Sears at North Hill Centre. Concord Pacific plans to redevelop the property, adjacent to the intersection of 16 Avenue and 14 Street Northwest, to include both residential and commercial tenants.