WAM Development Group

WAM Development Group

April 23, 2008 14:04 ET

WAM Development Group Launches Largest Commercial Development in Western Canada

New Retail, Office, Industrial and Hospitality Development in Northeast Calgary

CALGARY, ALBERTA--(Marketwire - April 23, 2008) - WAM Development Group, a North American leader in commercial real estate development, and Alberta Investment Management Corporation (AIMCo) today announced the launch of StoneGate Landing (SGL), the new retail, office, industrial and hospitality development in Northeast Calgary. StoneGate Landing is the largest commercial development of its kind in Western Canada, with opportunity to become established as Alberta's premier business community.

"StoneGate Landing is a highly innovative development, both in scope and size," said Darren Durstling, Partner, WAM Development Group. "We constantly look for exceptional properties, evaluate market trends and acquire the most superior real estate parcels available. The Northeast Calgary parcel offers ample opportunity to develop a unique business community that fuses retail, office, industrial, hotel and entertainment amenities into one convenient location. Furthermore, this quadrant of the city is experiencing substantial growth in population; we predict there will be more than 60,000 new residents in the area over the next ten years. As such, our vision for StoneGate Landing is to develop an accessible and multi-purpose site where Calgarians can work, shop and play close to home."

The entire site spans more than 1,100 acres and will feature StoneGate Industrial, StoneGate Corporate Centre and StoneGate Common. StoneGate Industrial is a 10-million-square-foot light industrial park with industrial buildings varying between 26 and 34 feet clear height with ample shipping doors on sites designed for high volume shipping and receiving.

StoneGate Corporate Centre is a 2-million-square-foot suburban office park with low and mid-rise buildings within a campus setting. StoneGate Common is a 1.5-million-square-foot retail development featuring hotels, restaurants, large format retailers, and smaller scale fashion and leisure outlets within an open air pedestrian centre.

To accommodate population growth in the area, developers will commence construction for new residential developments east of StoneGate Landing beginning summer of 2008. The first show home is planned to open in the summer of 2009.

The projected $3 billion development is expected to be completed by 2016.

"Designed to accommodate existing and future growth needs as the population expands and moves to the outskirts of Calgary, StoneGate Landing provides residents shopping amenities, entertainment venues, hospitality services, office space and an industrial park-basically a one-stop service convenience," added Durstling. "We are excited to offer Calgarians a new kind of urban development and lifestyle with the launch of StoneGate Landing."

For more information, please download the media kit at www.stonegatelanding.ca/media

About WAM Development Group

Established in 1987, the WAM Development Group is committed to the business of real estate, with emphasis in the acquisition, leasing, management, development and sale of quality commercial and retail properties. For more than 20 years, the WAM Development Group has been pursuing real estate opportunities in Western Canada and the Southern United States. The WAM Development Group is headquartered in Edmonton, Alberta, Canada. For more information, please visit www.wamdevelopment.com.

About Alberta Investment Management Corp.

Alberta Investment Management Corp. (AIMCo) is one of Canada's largest investment managers with over $70 billion in assets under management. Formerly the Alberta government's investment operations, AIMCo was formed as a crown corporation on January 1, 2008 to continue its long history of providing strong and consistent investment returns to its clients. AIMCo has invested in an extensive portfolio of real estate assets in major markets across Canada, including Calgary, and brings a successful track record to SGL by adding value to these assets through development, leasing, and investment expertise. For more information, please visit www.aimco.alberta.ca.

Contact Information

  • Brookline Public Relations, Inc.
    Arlene Worsley
    Media Contact
    (403) 538-5641 ext. 106 or Cell: (403) 650-7086
    Email: aworsley@brooklinepr.com