Calgary Co-op Breaks Ground on Retail Complex in Alberta
Calgary Co-operative Association Ltd. has broken ground on its Cochrane retail complex being built in the neighborhood of Greystone in the town of Cochrane, Alberta, Canada. On completion, the site will feature a 41,000-square-foot Calgary Co-op food store and another 31,000 square feet of commercial retail space for lease. The store is slated to open in summer 2025.
The 6-acre site intends to be a one-stop shop for residents of Cochrane and the surrounding area. In addition to the Calgary Co-op food store, the site will feature other Calgary Co-op retail offerings, including a Wine Spirits Beer store, a Cannabis location, a gas station, a car wash and a convenience store.
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“Our new Cochrane location will help deliver our Calgary Co-op products and an array of local products to our loyal members in the Cochrane area,” said Ken Keelor, CEO of Calgary Co-op. “We also look forward to welcoming new members from the community to join our growing cooperative and enjoy the many benefits and savings we provide.”
The Canadian co-op already owns and operates a Wine Spirits Beer store in Cochrane. The new and expanded presence will help provide additional services to the town of Cochrane, which was recently recognized as one of the fastest-growing communities in western Canada. The opening of the food store alone is expected to create 150 local jobs in Cochrane. Through the construction of this new development, upwards of 750 people will be employed, including subtrades, consultants and office staff.
“Just as we do in the more than 100 stores across our lines of business, we will deliver an exceptional shopping experience to the community of Cochrane,” said Damon Tanzola, SVP, real estate and development and pharmacy of Calgary Co-op. “The additional retail space will be home to a unique and diverse mix of restaurants and retailers, creating a convenient destination in the heart of Cochrane.”
The co-op recently reported net earnings of CAD $16.7 million for fiscal 2023, down from CAD $38.7 million in the prior year. Sales came to CAD $1.3 billion for the year ending on Oct. 28, up from CAD $1.28 billion in 2022.
One of North America’s largest retail co-operatives, Calgary Co-op has been serving the Calgary area since 1956. Originally established by local farmers and ranchers, Calgary Co-op continues to serve fresh and local foods to more than 440,000 members across locations in Calgary, Airdrie, Cochrane, High River, Okotoks and Strathmore. It counts more than 3,850 team members.
