Anthem Properties Group Ltd., in partnership with Harbour Equity Capital Corp, has unveiled plans for a new open-air retail centre in Calgary’s rapidly growing Belmont community. The development, slated to open in the summer of 2027, aims to meet a pressing demand for shopping amenities in the West MacLeod Area Structure Plan, which is projected to serve more than 35,000 residents upon full build-out.
The venture marks the first collaboration between Anthem Properties and Harbour Equity, two firms with established reputations in Canadian real estate development and investment. Together, they are bringing a 145,000-square-foot centre designed to balance practical needs with community-oriented features. Anchored by a grocery store, a drug store, and a liquor store, the project also promises quick-service and full-service dining options, personal service outlets, and a bustling highstreet segment featuring a two-level childcare facility.
Expanding Options for Underserved Communities
The Belmont development reflects a persistent challenge for residents in Calgary’s southwestern suburbs: limited access to daily essentials that requires routine trips to neighbouring areas. Currently, many residents must travel five to ten minutes by car to reach grocery stores and pharmacies. By situating the new retail hub at 480 210th Avenue SW, with convenient access points from both 210th Avenue and Sheriff King Street, Anthem and Harbour Equity aim to elevate everyday convenience and reinforce Belmont as a self-sustaining community.
According to early development plans, the centre will comprise 14 buildings designed for a broad mix of uses. Two drive-thru locations will service quick-service restaurants, while additional pads will provide space for diverse operators seeking entry into this emerging market. The child-focused anchors, including a large childcare centre, signal one of the project’s core goals: to make family amenities central to the shopping experience.
Anthem’s Growing Calgary Portfolio
The Belmont retail centre represents Anthem Properties’ third significant ground-up retail project in the Calgary region in recent years. It follows the successful completion of Highstreet at Cornerstone in northwest Calgary and D’Arcy Crossing in Okotoks, both of which have demonstrated community-first design and strong tenant uptake.
Anthem, founded in 1991, has built a reputation for large-scale retail and residential projects across North America. The company oversees more than 400 residential and commercial developments, accounting for 12 million square feet of retail, industrial, and office space along with 44,000 homes. Its portfolio also spans more than 60 master-planned communities situated on 9,100 acres of land.
In a press release announcing the Calgary project, Jordan Carlson, Executive Vice President of Anthem Properties and President of Anthem Holdings Canada, emphasized the firm’s strategic ambitions. “We’re excited about the acquisition of this site as we continue to build on our track record of delivering vibrant shopping centres in Calgary. This marks our first partnership with Harbour Equity, and we’re proud to be working with a partner who shares our values and commitment to creating thriving community spaces. We look forward to building on our shared objectives through this project, and to exploring more opportunities together in the future,” Carlson said.
Timeline for Construction and Completion
Construction on the Belmont retail project began in August 2025, with completion anticipated in the summer of 2027. The two-year timeline reflects the level of complexity in delivering a multi-anchor retail environment tailored to diverse user needs. Site preparation and infrastructure improvements are expected to be completed in the first 12 months, while vertical construction of the retail and childcare buildings will follow.
Developers have highlighted the project’s emphasis on long-term community integration. By combining grocery and pharmacy anchors with unique features such as childcare and family dining, the retail centre is designed not only to capture routine spending but also to expand opportunities for social interaction and local employment.
Harbour Equity’s Role in the Development
For Harbour Equity, the Belmont centre underscores its strategic mission of backing experienced developers through joint ventures and equity participation in varied real estate asset classes. Since its founding in 2011, Harbour Equity has invested more than $300 million across Canada, partnering on more than 60 projects in over 20 cities. These investments span retail, residential, industrial, office, seniors housing, student housing, and self-storage.
By entering into its first partnership with Anthem Properties, Harbour Equity gains exposure to Calgary’s competitive but growing retail landscape, while Anthem gains the flexibility and equity support necessary to realize large-scale opportunities. Harbour Equity’s model, which frequently balances preferred equity and hybrid structures, is especially appealing to developers navigating rising construction costs and complex financing conditions in Canada’s changing market.
Calgary’s Retail Landscape and Growth Pressures
The Belmont initiative carries broader implications for Calgary’s evolving retail trends. Over the past decade, the city has witnessed fluctuating commercial development, with large enclosed malls often dominating discussions while suburban shopping centres play a quieter role in shaping everyday life. The arrival of new master-planned communities, especially in Calgary’s southwest, has shifted focus toward localized retail amenities that reduce vehicle trips and enhance livability.
The development reflects a wider movement toward open-air retail in Canada’s western cities, where lifestyle patterns, demographic shifts, and cost considerations are reshaping community retail. Unlike traditional indoor malls, open-air designs emphasize walkable streetscapes, integrated dining experiences, and easier access from surrounding neighbourhoods.
Southwest Calgary, and specifically the West MacLeod corridor, is particularly well-positioned for this type of development. Population growth, strong demand for housing, and improved road infrastructure have placed pressure on retail developers to deliver projects that meet both functional and aspirational community needs. Belmont’s retail hub could become a model for future suburban retail development in Alberta.
