Influx of new buyers driving older renters from Calgary city centre
A high-profile corner in central Calgary is about to get a major refresh. While the growing demand for high-end units at a strategic location represents an opportunity for affluent buyers, it is bad news for existing tenants, who have to move out by July, 2024.
Located at the intersection of Kensington Road and 10th Street NW, Kensington Gate is a mixed-use, multifamily building constructed in 1991. The structure comprises 15 retail spaces and 80 rental units, as well as 10,000 square feet of office space and a 200-stall parkade.
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