The Nine on 5th

The Nine on 5th is a mixed-use building located near downtown Calgary comprising a large commercial unit on the ground floor and basement and nine luxury condo units on the top 3 levels. 

Sparrow determined at the time of purchase that the highest and best use for the residential condos would be to sell to end users rather than retain them as rental units. The condo sales were completed in January 2015 and Sparrow retained 6,000 ft² of commercial space on the main floor and basement.

The commercial spaces are occupied by Urban Athlete, a beautiful boutique training facility serving the Hillhurst and Kensington neighbourhoods. 

Although Sparrow is not actively developing its network in Calgary, the operators of Urban Athlete have been great tenants and close collaborators. Sparrow intends retain this asset to provide the Sparrow ecosystem with a foothold in Calgary and to offer our long-time tenants in the building with the opportunity to participate as stakeholders in an Open Equity partnership.