Garrison Woods / Currie Commercial Real Estate
Calgary's most ambitious urban intensification project. Currie Barracks — the former Canadian Forces Base — is being transformed into a complete mixed-use neighbourhood: retail, office, purpose-built rental, and institutional uses on 94 hectares of prime inner-city land.
Garrison Woods / Currie — Market Overview
Garrison Woods and Currie Barracks form Calgary's most significant urban intensification opportunity in the southwest inner city. The established Garrison Woods neighbourhood — an early 2000s new urbanist community developed on part of the former military lands — now sits adjacent to the active Currie Barracks redevelopment, which is transforming the remaining 94-hectare site into a complete mixed-use neighbourhood.
Canada Lands Company, the federal Crown corporation, is the master developer for Currie Barracks. The project is progressing through successive phases of residential (purpose-built rental and for-sale), retail, office, and institutional development. Heritage buildings on the site are being adaptively reused as creative and professional office space. Commercial land uses are distributed throughout the site at street-level podiums, creating a genuinely walkable urban environment.
For investors and tenants, Currie Barracks represents a unique opportunity to enter a new urban neighbourhood at an early stage of maturity. Retail and office tenants who establish early in the project's lifecycle benefit from growing catchment populations and limited competition within the immediate trade area.
Garrison Woods / Currie Cap Rates & Market Data (2025)
| Asset Class | Location | Cap Rate | Notes |
|---|---|---|---|
| Mixed Use — Retail Podium + Residential | Currie Barracks | 4.75–5.5% | New construction, growing catchment |
| Multifamily — Purpose-Built Rental | Currie Barracks, Garrison Woods | 4.5–5.0% | New construction, premium rents |
| Retail — Village Commercial | Garrison Woods, Currie | 5.25–6.25% | Neighbourhood-serving, growing trade area |
| Office — Heritage/Creative | Currie Barracks | 6.5–8.0% | Adaptive reuse, character buildings |
| Office — Medical / Professional | Lincoln Park area | 6.0–7.5% | Health services, allied health |
Why Investors Choose Garrison Woods / Currie
Generational urban development opportunity. Currie Barracks is a 30-year project delivering a complete new neighbourhood on inner-city land. Investors who enter during development phases capture growth as catchment populations increase and retail and office demand deepens.
Government-backed master developer. Canada Lands Company's involvement provides development certainty, quality planning standards, and a long-term commitment to the neighbourhood's success — reducing execution risk versus purely private-sector brownfield projects.
Premium demographics. Garrison Woods is one of Calgary's highest-income inner-city communities. Currie Barracks is designed to attract similar demographics, ensuring strong spending power for retail and residential tenants in the trade area.
No provincial income or sales tax. Alberta's tax advantage applies fully to Currie Barracks and Garrison Woods commercial investments.
Garrison Woods / Currie — Frequently Asked Questions
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Our Calgary advisors cover the Currie Barracks redevelopment and Garrison Woods village retail — mixed use, multifamily and office investment opportunities.
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