For more than a decade, most of Victoria Park has languished, abandoned and checkered with asphalt parking lots after the city expropriated land from about 200 property owners to allow the Calgary Stampede to proceed with expansion plans.

But, a few new residential hi-rises have cropped up around its edges, signaling that investors and buyers find promise in the area's future.

Calgary's land agency recently added fuel to that promise by hiring a team of urban designers and architects to create a master plan for the area as part of its Rivers District Revitalization Plan mandate.

The summer sun rises eagerly in the early morning sky, casting a glittering cascade of twinkling light on the surface of the Bow River. Joggers and dog walkers scoot along the river pathway, enjoying the public art and the perfection of nature against the city's skyline. The smell of freshly roasted coffee and savoury bready morsels wafts from the Simmon's Building, its glass-sheathed doors flung open in anticipation of the day. Just steps away, store owners set out their wares in the newly launched pop-up retail park, as brightly coloured shipping containers frame the backdrop and the East Village hums to life.

"The East Village is all about connecting people and the new pop-up retail park – East Village Junction – is one of the major place-making initiatives happening this summer," said Jessa Morrison, senior manager of marketing and communications for Calgary Municipal Land Corporation, the developer behind the East Village, a 49-acre revitalization project on the east side of Calgary's downtown.

Parks are especially important in densely developed downtown

"Quality, not quantity" is how City of Calgary parks manager Keath Parker characterizes green spaces in Calgary's downtown core, an area that's not only home to tall office towers, but residential neighbourhoods as well, including the Beltline (Connaught and Victoria Park), East Village and Eau Claire.

Parker explains it wasn't until the mid-1960s that the province's Municipal Government Act (MGA) gave municipalities the authority to take up to 10 per cent of a development for open public space. Residential neighbourhoods developed prior to that tend not to have as much green space as those created after the MGA.

However, Calgary's downtown is still far from a cold, concrete jungle. In fact, there are 24 parks in the downtown area covering roughly 65 hectares of open green space, according to the City.