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A Calgary-based real estate investment firm has ambitious plans to revitalize one of the busiest intersections in the Beltline.

Arlington Street Investments’ project will develop the two corners where 14th Street and 17th Avenue S.W. intersect.

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The Sentinel is a mixed-use development on the northwest corner of the intersection, where the Fair’s Fair Bookstore is now, and will consist of a 13-storey, 250,000-300,000-square-foot structure with commercial retail and an urban grocery on the main floor. Office space is planned for the second and third floors while the remaining floors will have more than 200 residential rental units.

The existing Scotia Block, located at the southeast corner will also be redeveloped.

“The really exciting part about this site is it’s the natural southwest bookend of 17th Avenue. Our goal obviously is to re-position assets on 17th Avenue in a way that honours what it is the community is looking for, and something that would be iconic and stand the test of time,” said Frank Lonardelli, president and chief executive of Arlington.