After 20 years in the making, the City of Red Deer unveiled its newest neighbourhood in the Riverlands District – Capstone at Riverlands.
This new urban community will be located along the banks of the Red Deer River and next to the City’s downtown core. Capstone at Riverlands, one of three districts to be redeveloped in greater downtown Red Deer, will be a landmark mixed-use neighbourhood.
The neighbourhood is located west of Carnival Cinemas and includes 37 hectares of land.
The redevelopment of Capstone is anticipated to take many years, and will include a mix of condos and townhomes; commercial development, including hotels, office space, shopping and dining; riverfront gathering areas; proposed cultural facilities such as a public market and artist studios; unique green spaces and water features and enhanced trail connections to Waskasoo park and a proposed over the river bridge to Bower Ponds.
“The name Capstone was chosen for its predominant meaning,” said Mayor Tara Veer. “It can mean two things – one, the top or finishing stone of a structure or a wall and two, the crowning achievement or final stroke of a masterpiece, the culmination realized.
“Both definitions speak to the very essence of this district. This district is built on a solid vision – it is strong, it is part of the foundation of our great City.
“The name is also an appropriate representation of the future vision of this neighbourhood as it will connect people, providing a hub of activities and business opportunities for the City, our residents and guests to our City. It is about connecting our proud past and promising future of our community’s crowning achievement.”
Tara Lodewyk, the City’s planning manager, said construction of the streets will be done after the underground servicing is completed.
“Alexander Way will be Capstone’s main street. This main street mixes the existing with the new and creates a synergy between all of Capstone’s diverse community components – public and private, commercial and retail, cultural and residential,” she said.
“The businesses and residents that are here now have created a neighbourhood and they are vital to the continued success of this neighbourhood.”
Veer added there is much more excitement to come as development in the area unfolds.
“As a growing and vibrant City, Red Deer is putting an increased focus on economic development, specifically the redevelopment of our downtown district.
“Capstone truly encapsulates the vision that has evolved with our community since Riverlands was first envisioned, all the way back to to railway relocation and into the Greater Downtown Action Plan,” she said.
“With this newly-developed neighbourhood, Red Deer will now have an extended, vibrant, year-round downtown neighbourhood in addition to being home to much of Red Deer’s office space, an increasing number of retail offices, small businesses and diverse residential populations.”