In what is believed to be a first for Red Deer, the city’s municipal planning commission has approved a “strata space subdivision.”
The subdivision relates to a 210-suite supportive living complex and restaurant in Oriole Park West. Slated to be called The Gardens at Hwys 2 & 11, the 6845 66th St. project is being developed by a group of joint-venture partners.
The commission heard on Tuesday that strata space subdivision was being sought so that ownership of the residential and commercial components of the building could be separated. The commercial elements would include the restaurant, a hair salon and administrative facilities, with these located on various floors of the four-storey building.
The commission was told that such “three-dimensional” subdivisions have been done in Calgary, but not in Red Deer.
Toby Lampard, one of the partners involved in the development, said previously that the residential units will consist of suites with one bedroom, two bedrooms, and one bedroom with a den. Each will have cooking facilities and a washer and dryer, with shared amenities to include an exercise room, a library area with computers, a lounge and TV rooms.
Residents will be able to access different levels of support, with staff on site 24 hours a day.
Underground and surface parking are planned, and the Perkins Restaurant & Bakery will serve both residents and members of the general public.
The units will be sold as condominiums, said Lampard. Some will be rented to tenants, he added, including under life-lease arrangements.
The commission also approved the subdivision of the land into two bareland condominium units. This will allow the project to be completed in two phases.
Lampard said the first will contain 110 units and the restaurant, with completion anticipated by the spring of 2011. The second, 100-unit phase will be added when demand warrants.
The cost of the project has been estimated at about $23 million for the first phase and $20 million for the second.
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