Doug Ashbury
Northern News Services

NNSL (Sep 06/99) - Calgary-based Urbco Inc.'s multi-million dollar executive suite complex is expected to open in March, says Urbco president Jim Britton.

"We don't have a name yet but it will be built in the central area, one block from the new legislature," Britton said.

Urbco is anticipating a February completion with opening in March for the three-storey, 40-room, 4,723 square metre (50,794 square foot), complex. Half the rooms will be rented out apartment-style, while the other half of the units will be available on a short-term basis.

"A number of people seek longer term accommodation," and this project is looking to cater to that market, Britton said.

Rental rates are under discussion, but Britton preferred not to divulge numbers at this time.

Top-floor apartments will feature lofts.

"We think it will be a popular destination," Britton said.

He commented that the building cost is estimated at $7 million to $8 million ($138 to $157 a square foot).

Architects on the project are GMH Architects out of Edmonton, while Urbco's in-house planning for the project is by Keith Wilson.

The builder will be Ninety North Construction and Development Ltd., a wholly-owned subsidiary of Urbco.