GWL Realty Advisors and Mayor Gondek Celebrate Breaking Ground on New Premium Rental Development in Calgary's Beltline
24-storey tower to provide 219 rental units and ground-level retail spaces
CALGARY, AB, June 12, 2025 /CNW/ – GWL Realty Advisors (GWLRA) celebrated breaking ground on a new rental tower at 1405 4th Street SW in Calgary's Beltline district. Mayor Jyoti Gondek joined the event. This 24-storey residential tower will offer 219 professionally managed rental units and a vibrant ground-level retail area, contributing to the revitalization of one of Calgary's most dynamic neighbourhoods.
'This new development represents our continued commitment to building high-quality rental communities in Canada's top urban markets,' said Glenn Way, President, GWL Realty Advisors. 'With its prime location, premium amenities, and our long-term approach to investing, we are excited to play an active role in shaping Calgary's future and contribute to establishing the Beltline as a premier residential neighbourhood.'
Developed on behalf of its client, The Canada Life Assurance Company, the property will be allocated as an investment to the Canada Life participating and non-participating life insurance accounts. Construction will begin immediately and is expected to be completed within 36 months, with occupancy targeted for mid-2028. The development features nearly 6,000 sq. ft. of pedestrian oriented retail space on the ground floor, accommodating up to five commercial units, offering high-quality retail amenities for residents and the surrounding community.
The new Beltline project reflects GWLRA's vision of creating boutique, hospitality-inspired rental communities in exceptional locations. Designed to maximize livability, the building will feature open-concept layouts, plenty of natural light, modern finishes, and numerous amenities, including a fitness centre, social lounge, co-working spaces, rooftop dining and pet-friendly facilities, such as a dog run and pet wash.
'Projects like this show confidence in Calgary's urban core and align with our goals for density, sustainability, and vibrant, livable communities,' said Mayor Jyoti Gondek. 'We welcome GWL Realty Advisors' investment and look forward to seeing this new development take shape in the heart of our city.'
GWLRA is actively working to help address the housing shortage in major Canadian cities by managing a development pipeline that includes nearly 3,500 residential units across the country in various stages of planning, pre-development, or development. Since 2020, the company has added over 1,500 rental units in key markets, demonstrating its commitment to enhancing urban living through thoughtful development.
About GWL Realty Advisors
GWL Realty Advisors Inc. generates value by creating vibrant, sustainable communities that engage, excite and inspire. As a leading Canadian real estate investment advisor, we offer asset management, property management, development and specialized advisory services to pension funds and institutional clients. Our diverse portfolio includes residential, industrial, retail and office properties as well as an active pipeline of new development projects. To learn more, visit gwlrealtyadvisors.com.
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