CALGARY HERALD - The first land development deal for the East Village area was announced today, which includes 700,000 square feet of new residential and retail space.

Two of Canada's premiere developers, Bosa Development Corporation, together with Embassy Development, will build the $300-million, mixed-used, multi-family residential development.

The project represents about 15 per cent of the available, developable land in East Village, the first substantial development in the neighbourhood in almost a decade.

The project is anticipated to deliver about 600 new residential units over five years with pre-sales beginning in early 2012, and initial residential occupancies planned by late-2013.

The East Village is expected to be home to more than 11,000 residents when the entire project is completed.