A megaproject that would reshape Stephen Avenue and 7th Avenue S.W. has been scrapped.

Triovest withdrew its permits for a three-tower project on the historic block that would have included a 66-storey condo tower, a 54-storey rental tower and a 24-storey office tower. There were also plans for a hotel and other commercial opportunities.

While there were a number of complicating factors, the biggest issue was the ability to preserve the heritage integrity of the properties while also bringing new life to the area.

“We have solicited feedback from the community and key stakeholders throughout the process and will use this information to reshape our approach,” Ryan Schott, vice-president of marketing and communication for Triovest, said in an emailed statement.

A statement from Nancy Bishay, communications director for Culture Minister Jason Luan, said a historical resource impact assessment is important to ensure projects that involve heritage buildings are done responsibly and the developer considers the unique character of the area.

The company is not abandoning the project, but will regroup for a future iteration of revitalizing the block.

Coun. Terry Wong (Ward 7), said he was disappointed the project is not going through but understands there needs to be a balance to preserve the heritage of the neighbourhood, which has stood for more than a century. He said it will remain a critical part of the revitalization of the core, especially as it pertains to 7th Avenue, which has a number of vacant buildings and safety issues.

“We want to be sure we build a Calgary and a downtown core that people recognize both in terms of the history but also its future,” he said.

Project would put National Historic District designation at risk, director says

In the short term, Wong said a hotel is critical to any redevelopment project, with the BMO Centre expansion to be completed in 2024 and the existing convention centre. “We don’t have enough hotel space to accommodate both,” he said.

Josh Traptow, executive director for Heritage Calgary, said there were issues with the project’s ability to maintain the history of the buildings beyond their facade. Almost all of the buildings in the proposed project are protected by national, provincial and or municipal historic preservation orders.

Traptow said the development must be done so in a way that preserves the history of the area. He said much of the concern came from alterations on the Stephen Avenue side of the project that would put its National Historic District designation at risk.

“I think it is feasible, I think you can find a balance between heritage and development,” he said. “I think it just takes perhaps more creativity and embracing heritage as an asset.”

There were also a number of issues related to infrastructure, including digging out the five-storey, below-grade parkade to support residents and businesses in the project.

Mark Garner, executive director for the Calgary Downtown Association, said the association still working with Triovest on a vision for the project. He said they are rethinking its scope when it comes to height and density, and what it might look like in the future.

A number of options are being considered, including activating the laneway and repurposing some of the buildings on 7th Avenue with pop-ups and other entertainment options to draw people to the area.

“They are a major levy payer and a good strategic partner, and they’ve got other property and other visions for things they want to do,” said Garner. “I still think it’s a good news story. It’s just . . . that part of what they want to do is on hold for the time being.”

— With files by Brodie Thomas