There is finally some detail coming out about this project, located at the corner of 4th Street and 11th Avenue SW (currently a parking lot with an adjacent building that will be incorporated)

It was proposed last year and a few Calgary forumers got a bit of a peak at but until recently theres been no renderings released. Plus some information from one of the forumers who works for the city with an unofficial height: 269M to the top of the spiral.

Still no name for the project however. The developers had indicated in the past that they'd wanted to be in the ground for this project by spring 2009.The project will incorporate an already existing building, the Duff Building, which is located on the east of the site. The tower will have both above and below grade parking, then number of floors of office space. Above the office space will be residential with a spiral feature on the roof which will serve to hide some of the related mechanical systems. In total there will be 45 floors (33 residential and 12 commercial I believe was the breakdown).
-Mersar from SSP

Renderings from Bokimon
http://img503.imageshack.us/img503/3621/bobo6796du2.jpg

http://img229.imageshack.us/img229/1264/bobo6795gl0.jpg

Hm, I wonder if Procura's 166 m tower in Edmonton will look somewhat similar to that...

This building is now called H2O.
A better, clearer image tweaked by Boris2k7 on SSP:
http://img355.imageshack.us/img355/4576/procura4pm2.jpg

Mmmm...nice!

Sweet! I just hope it doesn't have to be redesigned at this point to get approved.

looks good, if it gets built then it will help cure calgarys boxy skyline