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“We know it’s going through a little bit of tough times right now. But we believe in the long-term cycles and we believe in the fundamentals of Calgary. . . . In our mind, this block is future centre ice. This block is perfectly juxtaposed between the East Village . . . the central business district to the west and in our mind we see the central business district as moving eastward.”

He said the location is ideal with city transit, the new central library, the new National Music Centre, Bow Valley College and the Bow River in close proximity.

“For the last several months, we have been interviewing various architectural firms from across Canada to make a selection for a master-plan architect. We should be ready to make an announcement early in the first quarter of next year. I think the city and the community will be very excited when we make the announcement of who we selected,” said Wein.

Photo by Leah Hennel / Calgary Herald

In April, Great Gulf announced it was making its first foray into the Calgary residential real estate market with a proposed development in East Village, east of the federal Harry Hays building and across the street from the YWCA. The project, at 304 Macleod Trail S.E., would include 443 units in two towers.

The amount of the YWCA deal was not disclosed.

“The sale of this property is a significant milestone as we work toward ensuring the YWCA remains vibrant and ready to adapt to the needs of women in our community, well into the future,” said Sue Tomney, chief executive of the YWCA.