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The Carnival Cinemas building in Red Deer, Capstone, may soon be remodeled into a commercial/residential complex.
On Monday, the Red Deer City Council will submit a request to expedite a zoning update for assets located just off Taylor Drive and 47th Street.
The corner lot is lately zoned for residential development. It functioned as a movie theater and game room for approximately 27 years.
But the construction of the Carnival Cinema has been for sale since 2022 and there is now “excellent” interest in remodelling the venue to turn it into advertising and surface on the ground floor and apartments on the top, according to a report to the city council.
Owner Bill Ramji may not immediately be reached for comment Friday, but in the past he had said his goal was to move the theater to another location and turn this excellent “gateway” corner into a catalyst for further Capstone development.
Since Carnival Cinemas is a destination for moviegoers, Ramji said it could work anywhere in Red Deer. I had been looking at various rental options, adding the existing shopping malls.
At Monday’s council meeting, councilmembers will discuss a rezoning request to facilitate the proposed mixed-use complex. The council had in the past approved expediting any progression requests that could increase the city’s housing supply.
City management supports this rezoning. So far, no public opposition has been expressed, and the giant parking lot and corner lot location have been discussed as expanding density in the area.
Capstone’s Municipal Development Plan encourages residential progression on vacant or underutilized parcels of land in evolved neighborhoods.
If the council initially approves this rezoning, a public hearing will be held on Monday, May 13.
If the rezoning application is definitively approved through the council, the next step is for the applicant to apply for a progression permit.