Bow Cycle E-Bikes to open in early 2020 in new East Village waterfront location

Bow Cycle, which has operated in Bowness since 1957, will be one of two anchor tenants in M2, a mixed-use project in East Village, set to open in early 2020.

Bow Cycle E-Bikes will be a second location for the longstanding bicycle shop, and will focus on the sale and rental of e-bikes.

"It's the huge rise in e-bikes and their popularity," marketing director Bob Grunewaldtold CBCNews. "(E-bikes are) letting people get out there and enjoy biking. It's an equalizer."

Theriverfront development is situated just east of the historic Simmons building in Calgary's East Village, and features unobstructed views of the Bow River. It's a prominent location on a public walking and cycling path.

"It's an unparalleled opportunity to be along the Bow River," said Kate MacGregor, president of XYC Design + Development, which built the building. "On one side, you're immersed in nature, steps from the water. On the other, you're in the heart of a vibrant city neighbourhood, East Village, right next to downtown."

The project combines retail on the street levelwith office and residential space above.

The other tenant will be a new restaurant operated by the Concorde Entertainment Group. It will include an outdoor patio space to take advantage of the riverfront location.

"One of the primary goals of the East Village master plan was always to re-establish the riverfront and allow the community to enjoy the beautiful Bow River, and today we are one step closer to meeting that target with this exciting project," said Kate Thompson, vice-president ofdevelopment with the Calgary Municipal Land Corporation (CMLC).

The corporation was created by the city to facilitate redevelopment of the formerly rundown neighbourhood.

"We're thrilled to welcome the Concorde Group and Bow Cycle to the neighbourhood two local powerhouses that complement existing East Village businesses and round out the offering along the river,"Thompson said in a release.

The development will offer 7,500 square feet of retail space, and the new Bow Cycle outlet will have roughly one-third of that.

The second floor, Thompson said, will housethe offices of Harvest, a venture builder.

The third floor office space will be shared by North West Capital Partners Inc., a Calgary venture investment firm; local startup Quebe Technologies Inc.; and the new offices of XYC Design + Development.