Homburg Invest Inc. purchases Kai Mortensen lands in Calgary (CAN)

Homburg Invest Inc. has purchased the Kai Mortensen lands located in the heart of the Design District of Calgary on 11th Avenue and 11th Street S.W. The project is being developed and constructed for Homburg Invest Inc. by Homburg-Centron Teamworks.

This site is one of the last remaining large parcels available in the growing and highly demanded Design District. All downtown living amenities are all within walking distance including shops, restaurants, employment centres, art galleries and design studios.

The project will consist of 466 residential units located in two towers of 25 stories with 525 underground parking stalls. Ground floor retail/commercial space of 25,000 square feet will add pedestrian friendly amenities that will enhance the unique Design District atmosphere.

The towers will consist of floor-to-ceiling glass, large terraces, spacious and clean lined modern suites. Spectacular views will boast mountain, city and river views.

The project value is estimated at $130,000,000. Construction is estimated to commence in late 2006 once all regulatory and municipal approvals are in place.

Source: Homburg Invest

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