Calgary Co-op has purchased a commercial site in the Marda Loop neighbourhood to create what it’s calling an “urbanized grocery experience.” Financial terms of the purchase were not disclosed.
The vision for the site–a 1.77-acre property at the corner of 33 Ave SW and 20 St SW in downtown Calgary–also includes new residential, retail and commercial units.
A Calgary Co-op spokesman told the Calgary Herald the new urban grocery store would have a smaller footprint than its traditional locations. It will see fresh product and prepared meals.
“We have an over-arching development and redevelopment strategy to better serve our Calgary area members and we are committed to completing important developments over the long term, balancing diligent investment on behalf of our members with ensuring the best shopping experiences for our member-owned cooperative,” said Calgary Co-op CEO Ken Keelor, in a press release.
This marks the third major acquisition for Calgary Co-op in the past two years. In 2019 Calgary Co-op acquired the retail business and real estate assets of Community Natural Foods, and in 2018 it purchased Chinook Park Plaza.