One of the country’s largest telecommunication companies is set to begin construction in Calgary’s downtown core but this project will cast a much larger shadow than the average cell phone tower.

TELUS Sky, a 58-storey development in the 100 block of 7 Ave. S.W., will incorporate office space, retail stores and 341 residential rental suites.

The 750,000 square foot building, designed by the Bjarke Ingels Group, is expected to be completed by the fall of 2017 with an estimated price tag of $400 million.

"Our new development is a powerful contribution to Calgary's economic strength, culture and social vitality,” says Darren Entwistle, TELUS President and CEO.  “TELUS Sky will inject millions of dollars into the community and create hundreds of local jobs while showcasing TELUS' advanced communications technologies and environmental innovation in a way never before seen in Calgary.”

“TELUS Sky will enrich the city's vibrant arts culture by offering inspiring public spaces that will exhibit works of art by local artists, thus creating a truly amazing destination for our team members, the community and indeed all Albertans."

TELUS itself will be the anchor tenant of the building, with nearly a fifth of the building’s square footage earmarked as office space for the company

"We know Calgarians want their downtown core to thrive, the recent floods showed us just how much the area matters to this city," says Premier Alison Redford. "That's why I'm so pleased that TELUS is making this important investment. Today's announcement is a reminder to all Calgarians that they live in a truly world-class city that is getting better by the day."

Construction of the building is expected to create an estimated 250 jobs for Calgarians.

TELUS Sky will not be the tallest building in Calgary, its completed height will be approximately 20 metres shorter than The Bow building.