It’s been many years in the making, but development of Olds’ newest large-scale commercial area is about to get underway.
Centcom Construction Ltd. expects to break ground this summer on its 12.57-acre West Towne development located west of Walmart and Canadian Tire.
“This project, I’ve been working on since, I want to say, 2014. It was the first thing I was working on when I got to Centcom, making up a rendering for this project,” said Morgan Craig, West Towne’s project manager.
Last month, town council approved the comprehensive site plan for the direct control mixed use-zoned area. It includes plans for 33 commercial bays in seven buildings, and proposes two, four- or five-storey apartment buildings along with an entertainment facility.
Centcom’s plan for the area has evolved over the years, said Craig.
“When we initially saw the property we kind of had the pitch of making it like the downtown of Olds but a bit fresher -- similar kind of design, old-towney structures. But it’s kind of progressed into more of a modern development that you typically see in a lot of newer cities for developments,” he said.
Council has also approved a development permit for the first of three phases of development.
Phase 1 has 44,600 square feet of commercial retail space in seven buildings, including two stand-alone bays.
“First phase we’re hoping to break ground on this summer. Since we got the development permit we’ve been able to approach different kinds of companies and get some commitment from them. And once we’ve got some commitment we’re going,” he said.
Craig said Centcom is aiming to have a bank and a fast-food restaurant along with professional offices in the bays.
“My last count is 33 bays so it could potentially be 33 businesses. My idea is a few guys might take a few (bays) if they’re bigger,” he said.
Two, four- or five-storey apartment buildings are proposed in Phase 2.
“We’re flirting with the idea of retail on the bottom floor. So it could be anything. It could be doctors, it could be a convenience store…whatever makes sense. We’re open to everything,” he said.
Centcom asked for, and received approval for the addition of several land uses not originally allowed under the site’s zoning including retail cannabis sales and drive-thrus, said Craig.
“One of the things we also fought to get in was a casino facility. We got a casino approved (as a permitted use) and we’re in the process of talking to operators right now,” said Craig, adding some feasibility studies to date suggest it would be a good fit.
“But we’re in the process of talking with some operators who would have a much better idea. But we mostly didn’t want to close any doors. If someone wants to bring a casino in there, who are we to say no.”
Centcom’s current set of engineer’s drawings, made prior to the company’s appeal for a casino as a permitted use, shows Phase 3 as a movie theatre. Craig said the theatre would likely be a fallback in the event there’s no interest in developing a casino.
A casino would suffice another earlier idea the company had when first envisioning what Olds was lacking.
“One of the first things we noticed was there was a lack of community halls almost. So if we’re able to get a casino, there’ll be a banquet hall that can be rented out for whatever, maybe weddings, private functions,” he said.
The company has not applied for any building permits to date, a requirement needed before any construction begins.
Market forces will determine timing, but Craig expects the newness of the proposal to pique interest.
“Well, everyone likes the new shiny toys, right? But besides that, we see Olds as a booming town. There’s a lot going on there especially with the marijuana growth that’s happening. That’s huge and we see a big opportunity. Phase 2 of our development, we’ll be including some apartments. Which seems to be a really hot commodity for the town. They don’t have much vacancy,” he said.
He also points to the development of the athletic fields to the north of West Towne as a drawing card.
“We think that’ll bring a lot of people there. When the parents drop their kids off for tournaments, where are they going to want to go? That’ll be the closest location.”
