Village-style development and sale agreements approved

Development permit application expected in early 2012

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November 29, 2011

The next step in a proposed “village-style” development located adjacent to the TransAlta Tri Leisure Centre has been approved by City Council.

Both the development agreement and the sale agreement for the proposed development, called Tri Village Commons, were approved at the Nov. 28 council meeting.

Approval of the actual site layout is still subject to a development permit application, which is expected to be submitted in early 2012.

The development agreement sets out the conditions for servicing the lands that will house the development. This includes road improvements, sanitary sewer extension and service, and landscaping requirements.

The sale agreement approves the sale of approximately five acres of City-owned land for the construction of the development. The land is located west of Jennifer Heil Way and south of the TransAlta Tri Leisure Centre.

The $30-million proposed development will create a “village” look and feel by incorporating a variety of building sizes and tenants including a:

• Four-storey Holiday Inn Express and Suites hotel, featuring just over 100 rooms with meeting and banquet facilities for up to 150 guests, a business centre, swimming pool, gym and breakfast area.
• Single-storey family restaurant adjacent to the hotel and connected by a pedway.
• Single-storey building that will house a variety of retail stores and shops.
• Single-storey building for small food and coffee shop-related businesses.
• Sports-themed restaurant and lounge.
• Three-storey professional building for medical and therapeutic services, as well as general office space.

Construction is anticipated to start in the spring of 2012 after a Development Permit has been approved by Council.