Armco Capital Buys Stephen Avenue Place Tower

0:00It's April 16th, Calgary News Today starts now, AI-powered and ready. I'm Cory with the story. A 40-story downtown Calgary Tower, called Stephen Avenue Place, just got snapped up by Armco Capital from Nova Scotia, along with two nearby. Buildings for a price that's staying under wraps. The deal closed this week after the properties hit receivership twice in the last three years, first listed back in January with A. $60 million tag on the main tower, and $5.6 million for the others. Local boosters are pumped, like Andrew from the Calgary Downtown Association, who sees it as a vote of confidence in the core, especially since. Armco's already got skin in the game with spots like Bo Valley Square. Ward 7 Counselor Mike Ackinson says, It's assigned Calgary shaking off that rough patch from too much empty office space, thanks to conversion. Programs and fresh investments like this. With debts around $139 million cleared through the court sale, this could spark more buzz on Stephen Avenue, drawing crowds to places,

1:04like Major Tom, and keeping the heart of downtown beating strong.