Vancouver-based Amica Mature Lifestyles Inc. has closed on a land purchase in Calgary worth $4.25 million.

The approximately 3.43 acre development land site is located in the established, upscale Evergreen neighbourhood.

The company anticipates it will develop the land in two phases for an Amica-branded luxury Wellness & Vitality rental retirement residence, called Amica at Fish Creek. The company currently estimates approximately 150 suites for Phase 1.