The largest developer in Greystone, Cochrane’s newest community, has launched the next phase of their high-density home development, announcing plans to construct a prominent business space to supplement the construction of 150 townhomes and condos.
The Calgary-based developer, Ocgrow Group, intends to create a collection of designer townhomes and garden-level suites through their project Vertos. Their latest project, the Ocgrow Professional Development Centre, will house new and existing businesses in Cochrane as the future community's commercial core.
President and CEO of Ocgrow Group, Harish Consul, says the two projects bring new opportunities to the town and he is excited to move forward with both.
“It’s very exciting for us,” Consul said. “We’re really creating a community from the ground up that is truly that live, work, play all in one area and you have the lifestyle of the mountains being so close.
“Our tagline is, ‘Inspired by nature, energized by the city, and waterfront living re-imagined.’”
Their first project, Vertos, is a collection of 150 townhomes and condos that will be a short walk to the Spray Lakes Family Sports Centre as well as a grocery-anchored shopping centre.
Each property ranges from one-to-three-bedroom units, with their top-end, three-bedroom townhomes featuring 1,000-plus square feet of living space, rooftop penthouse decks, and private garages. Properties range from $300,000 to $400,000. The total value for the flagship project is estimated to cost $60 million.
According to Consul, 50 units have already sold, and he said there has been high pre-sale interest for the remaining properties. He expects the new spaces to be completely sold by next spring, adding the first phase of construction is expected to start in late-spring or early-summer of 2023.
The second project, the Ocgrow Professional Development Centre, will be a 50,000-square-foot professional centre that will house new tech-based companies to grow the tech ecosystem in Cochrane. It will also offer health and dental clinics, and a new daycare service.
“We will have about 25 new businesses,” Harish said. “Some are new and some are existing business in Cochrane that are expanding.”
In addition to the development of both projects, Ocgrow Group and Burnswest Properties will host community-focused events in the 10-acre area located near the lakefront area in the community.
“We are hopefully going to organize two events; a winter festival and a summer carnival all around the community of Greystone,” Consul said.
With the new community bringing new opportunities into Cochrane, Consul feels both projects will contribute to the growth and future of the town.
“I’m very bullish on Cochrane’s growth,” Consul said. “The tech community is diversifying. It’s a lower tax base, the closest to the mountains, and so Ocgrow is investing a substantial amount into the Cochrane business community over the coming years.”