The site is being developed by Alberta Development Partners, a Colorado-based real estate firm specializing in large-scale, mixed-use retail projects. It will include 170,000 sf of retail space, a 200,000-sf hotel, and 60,000 sf of office space. This week, Communication Arts, based in Boulder, Colo., was selected to design the site.

"The site is unique in the world," Richard Foy, co-founder and co-chairman of Communications Arts, tells GlobeSt.com. "We're adding a main street and a restaurants and services three blocks from the center of town. It will be a year-round attraction where everyone in the city can go, take visitors, and show them the heritage of Calgary. It will be a real community asset."

The project's design will incorporate Western elements to honor the regional culture, says Foy. Wrought iron, trellises, glass and wood will combine to create a contemporary rustic feel, accented by amenities including architectural statuary from Calgary's history: a female pioneer, a First Nation's woman, a wrangler and a derrick worker.