Tsuut'ina First Nation and Canderel Announce Major Commercial Development Partnership for Three Sections of Tsuut'ina - Will Leverage Southwest Ring Road Traffic - Chief Roy Whitney Calls Announcement "Historic"

TSUUT'INA, AB, July 11, 2016 /CNW/ - At a press conference held today on the Tsuut'ina First Nation, plans were announced for three major commercial developments that will create important business centres near SW Calgary. They will be fed by traffic flowing along the approximately 10 kilometers of the future SW Ring Road Extension that will pass through Tsuut'ina. At the podium for the announcement were Chief Roy Whitney and Canderel Chairman and CEO Jonathan Wener.  Canderel is a multi-faceted development company that has been developing, investing in, and managing a wide range of real estate projects across Canada for 41 years.

The developments will begin in the next 2–3 years and will consist of:

• Tsuut'ina Park - About 500 acres in size and located south of Glenmore Trail, between 37th Street and west of Sarcee Trail. This development will focus on entertainment and hospitality, while complementing the success of the Grey Eagle Resort and Casino, as well as creating high-value retail opportunities.
  
  
• Tsuut'ina Crossing - 360 acres located east of the Ring Road and west of the Oakridge community, and stretching from just south of Weaselhead Park to Southland Drive. This development will accommodate a major innovation and research campus at the north end, built in a park-like setting. At the south end, an integrated health and wellness area will include supporting retail, office, and mixed-use developments. It features a spectacular natural setting, with access to trails, parks, and open spaces.
  
  
• Tsuut'ina Centre - 380 acres and located directly south of Bullhead Road and north of Fish Creek Park. This area will contain a range of parcel sizes and orientations that will support a major regional retail and commercial centre. The centre will be integrated with the administrative and community services of the Tsuut'ina Nation. Collectively, the three precincts will offer significant long-term employment opportunities for Tsuut'ina citizens, its neighbours, and many people in the Calgary region. This historic project will bring social and economic prosperity to future generations, and is a proud legacy for Canderel.

Speaking at the announcement today, Chief Roy Whitney described the partnership as historic. "Tsuut'ina will be home to one of the largest, if not the largest, First Nations developments in Canada. In addition to the financial benefits of rents and property taxes that will come from development, so too will come opportunity. The real motivation is to create opportunity and allow future generations to work and flourish right here, at home. Generations of Tsuut'ina people will also be able to receive services, to shop, to learn, to invest their money, time and skill, to apply their trades, and to develop a profession – all while being near their families and their extended Nation family. At home. At Tsuut'ina," said Whitney today.  

Jonathan Wener, Chairman and CEO of Canderel, expressed gratitude to Tsuut'ina for selecting Canderel to partner in this "transformative" development – a decision that followed a competitive process. "The development potential of lands that abut the City of Calgary and will soon be accessed by the Ring Road is clearly enormous. Tsuut'ina has been quietly, diligently and effectively working on this project for years, to the tremendous credit of Chief Whitney, the Council and their economic development team. Tsuut'ina and Canderel believe in the future of Calgary and southern Alberta, and see this as a prudent investment for long-term development," said Wener today.

ABOUT CANDEREL

Canderel was founded in 1975 by Jonathan Wener, who entered the real estate business with a strong set of conservative business principles, tremendous drive and a passion for buildings and architecture. Four decades later, Canderel is a leading innovator in real estate investment, development and management with its headquarters in Montreal and regional offices in Ottawa, Toronto, Calgary, Edmonton and Vancouver. The company is recognized for the exceptional diversity, talent and experience of its team and the ability to achieve success for clients and partners.

SOURCE Tsuut'ina Nation

Tsuut'ina First Nation, Morten Paulsen, [email protected], 403 399-3377; CANDEREL, William Briscoe, [email protected], 416 543-3742