Residential High Density Market Report
Prepared by: Harvey Russell Vice President Investment Sales, Multi-Family & Land CBRE Limited
Table of contents 1. Current CBRE Site Offerings • •
207, 211 25th Avenue SW
ASI - 17th Avenue / Macleod Trail SE •
The Heritage •
Barnhart
2. CBRE - High Density (Sold, C/S, Expired) • •
320 5th Avenue SE
1222-1240 5th Avenue NW
•
1134-1160 Memorial Drive NW •
Condon Lands •
Riverfront
•
Mount Royal
•
Kai / Oslo
•
Cristal
•
Astoria
• •
Midtown Lougheed Site
3. High Density Residential Land Market Comparables • •
Map - City Centre Zones
Sale Comparables List - 2010 - Date
4. Development Maps • •
Proposed Rental Developments - Central Calgary Area
New Rental Apartment Developments - Greater Calgary Area •
Residential Condo Projects •
Beltline Developments
•
Downtown Developments
•
East Village Developments
5. Apartment Rental Survey •
Survey
6. Cost Valuation Method • •
Method
Development Proforma Examples
7. CBRE Profiles •
Harvey Russell Professional Profile •
CBRE Corporate Profile
FOR SALE
MULTI FAMILY DEVELOPMENT SITE 207 & 211
25 TH AVENUE SW Calgary, AB
M ulti F amil y an d L an d Te am | C al g a r y
FOR SALE
MULTI-FAMILY DEVELOPMENT SITE PROPERTY HIGHLIGHTS Municipal Address
207 & 211 25th Avenue SW
Size
207 211 Total:
12,950 sq. ft. 8,660 sq. ft. 21,610 sq. ft.
Land-Use Designation
M-H2 Multi-Residential - High Density Medium Rise
Zoning:
++ The minimum density designated for this site is 12 units - medium rise ++ Maximun building height is 50.0 meters ++ Maximum floor area ratio - 5.0
Improvements
19 unit apartments/empty lot
Price
$7,500,000
HIGHLIGHTS ++ Mission is unique in its demographic composition. Currently, the community’s character is defined by a higher than average percentage of lone person household, seniors, living with non-family members, and high rate of population mobility. ++ Relationship with the Elbow River and mature trees throughout the area give the community a park-like feel and contribute to the overall special character. ++ Three local public parks and two schoolyards. ++ 3.2 acres of local open space.
207 & 211
25 TH AVENUE SW Calgary, AB
PROPERTY OVERVIEW MISSION AREA REDEVELOPMENT PLAN (ASP) ++ Planning documents which set comprehensive land use policies and other proposals that help guide the future of individual communities. ++ Encourage a more balanced community which provides for a variety of housing types including more family oriented accommodation and protect and enhance the character of the community. ++ Achieve a balance between low and medium density housing.
4TH STREET BZR (BUSINESS REVITALIZATION ZONES) ++ Known as Calgary’s restaurant row, 4th Street boasts over 35 restaurants with over 250 businesses in total. ++ In 13 short blocks it features dining, shopping, entertainment, art, medical services, business services, and a young urban exciting energy. ++ Nestled between historic sites and new urban development, 4th Street is one of Calgary’s most vibrant areas.
17TH AVENUE SW ++ Functions as a unique major commercial area that attracts people from all parts of the city. ++ Continuous retail frontage and a variety of businesses characterize this commercial strip.
HOLY CROSS SITE ++ 8.2 acres site is currently used for a variety of medical and alternative medical uses, as well as educational and residential uses. ++ Uses include child care facilities, commercial schools, private clubs and organizations, and medical and veterinary clinics.
SITE
CONTACT US HARVEY RUSSELL
Vice President, Multi-Family & Land 403 750 0525 harvey.russell@cbre.com
SCOTT RUSSELL
Sales Representative 403 750 0516 scott.russell@cbre.com
This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation; to include all employees and independent contractors (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE. CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their respective owners. All Rights Reserved.
17. 18. 19. 20. 21. 22.
Chocolate Park Point Fairfield Inn & Suites Union Square Colours Hotel Arts 11th Avenue Place Vetro Sasso Alura Nuera Stampede Station II Curtis Block Redevelopment Keynote Residential II Keynote Tower IV Renaissance Club Sport Development The Guardian Arriva Biscuit Block Redevelopment Cidex Redevelopment Anthem Redevelopment Macleod Trail & 24th Ave Orchard Redevelopment
FOR SALE
Property
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17th Avenue SE
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16.
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Commercial Residential
17th Avenue Development Sites ASI :: 17th Avenue & Macleod trail se
Multi use Residential: 6 Storey / Highrise Development / Investment opportunity Calgary, AB FOR MORE I N F O R M AT I O N PLEASE C O N TA C T
Harvey Russell Vice President, Multi-Family and Land 403.750.0525 harvey.russell@cbre.com
17th Avenue Development Sites ASI :: 17th Avenue & Macleod trail se :: calgary, alberta
Property Overview
Site information
Location:
17 Avenue SE & Macleod Trail SE
Property Type:
Development Site
Submarket:
Beltline
th
Municipal Address
Legal Address
Site area (sq. ft.)
1705 Macleod Trail SE
8210268;1;41
3,565
Land Use Designation:
DC6Z2008
235 17 Avenue SE
0110782;1;43
6,837
Maximum FAR:
8.0 - Commercial 12.0 - Residential/Mixed-Use
229 17th Avenue SE
0110782;1;42
5,912
Net Income:
$266,860
Price:
th
Total Site Size:
16,314 sq. ft. $4,200,000
development opportunities: 6 Storey, Mid-Rise and High-Rise, Residential / Retail (Mixed Use) Land Use Designation: Gross Floor Area (a) A maximum of 5.0 FAR for commercial development; a maximum of 8.0 FAR for residential/mixed use development; and (b) The maximum FAR prescribed in subsections (i) and (ii) may be increased from 5.0 FAR to a maximum of 8.0 FAR for commercial development, and from 8.0 FAR to a maximum of 12.0 FAR for residential/mixed use development respectively in accordance with the bonus provisions contained within the Beltline Area Redevelopment Plan as amended by City Council from time to time.
1705 Macleod Tr SE
CBRE
235 17th Ave SE
229 17th Ave SE
17th Avenue Development Sites ASI :: 17th Avenue & Macleod trail se :: calgary, alberta
beltline market growth: The Beltline is a Calgary community located immediately south of the downtown core designed as a mixed-use region with high density residential structures and retail amenities. This community features some of the most popular retail and entertainment districts in the City, including the Stampede Grounds. The next few years will include extensive growth to the Beltline’s office, retail and residential inventory as the City looks to add density to the inner-city and limit urban sprawl. Over 1.9 million sq. ft. of new office developments and 3,700 units of new residential developments are currently under construction or have been announced. The City of Calgary has approved the Beltline Area Redevelopment Plan (ARP) with the primary goal of increasing the residential density to have the Beltline be home to 40,000 residents by 2035. The population has been consistently increasing since 2004, from just over 16,100 people to 21,357 people in 2014, an increase of 32.7%. There is also capacity for significant future growth with the Beltline ARP suggesting the area has the redevelopment potential to almost triple the current population to 55,000 residents. The population growth is expected to be led by professionals seeking a home in close proximity to their workplace and nightlife. This increasing demand for Beltline-living can be seen in the rental rate growth for residential properties. The overall residential rental rate is $1,119 per month, representing a 9.9% increase from the previous year and the biggest annual gain reported from any area in Calgary. With regard to the vacancy rate, the Beltline saw a 40 basis point decline to 1.3% from the same period last year. The city-wide average residential rental rate has increased by 7.9% over the previous year, with buildings constructed after 2000 commanding a rental rate of $1,538, representing a premium of 37.6% over the average.
light rail transit (LRT) access to downtown core
SI T E
17th Avenue Development Sites ASI :: 17th Avenue & Macleod trail se :: calgary, alberta
1. 1705 MacLeod Trail SE 2. 235 - 17 Avenue SE 3. 229 - 17 Avenue SE
Offering process
The Property is being marketed for sale by way of a conventional marketing process with a list price of $4,200,000. The intention of the Vendor is to make detailed information on the Property available to qualified prospective purchasers upon request and to deal with LOIs and Offers to Purchase as they are received. Access will be provided to CBRE’s Extranet website, which contains detailed information on the Property.
FOR MORE I N F O R M AT I O N PLEASE C O N TA C T
Harvey Russell Vice President, Multi-Family and Land 403.750.0525 harvey.russell@cbre.com CBRE Limited | 530 - 8th Avenue SW | Suite 500 Calgary, AB T2P 3S8 | T 403 263 4444 | F 403 269 4202 | www.cbre.ca This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE. CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their respective owners. All Rights Reserved. Mapping Sources: Canadian Mapping Services canadamapping@cbre.com; DMTI Spatial, Environics Analytics, Microsoft Bing, Google Earth
For sale
LAND SITE OFFERING 703-717 14 avenue sw calgary, alberta
w w w.c b r e.c om
For sale
land site offering property overview ++ The Heritage is a 21 storey residential tower situated within Calgary’s highly sought after Beltline District. In response to the historic character of the community and adjacent buildings as well as its overall urban context, the development will provide an urban living experience infused with historic flavor. ++ Special building characteristics include a diverse internal product mix, ranging from two storey townhouses to efficient one bedroom plans and spacious two bedroom and penthouse suites. All units include abundant glazing, while balconies and suite configurations work in response to view opportunities associated with the site. ++ Four levels of underground parking, totaling 277 stalls. Creative, engaging passive and active amenity spaces such as an indoor garden and exercise facility are located directly within the building. ++ Overall design was influenced by the desire to orient buildings to the street, use of robust exterior materials at podium level, livability, view orientation and response to community context.
project statistics: Bound by a maximum allowable developable area of 270,562 sq ft, the design concept for The Heritage achieves an efficient 99.6% of the allowable with a 269,654 sq ft total built area. Within the 31 stories of above grade development, the Architectural Program includes a diverse unit mix arranged to respond successfully to Beltline ARP expectations and general marketability. Ground level town homes serve the street-oriented priorities of the ARP, while remaining units are split between one and two bedroom plans to introduce choice for buyers. When completed, The Heritage will provide 250 residential units, plus parking and amenities. Project Name:
The Heritage
Municipal Address:
703-717 14th Avenue SW
Legal Description:
703 - Condominium Plan 7811509 709-717 Plan A1 Block 104 Lots 16-12
Land Use Designation:
DC: Direct Control 102006
Site Area:
29,250 SF
Possession:
Immediate
Price:
$13,250,000
Site Plan:
community site plan:
703-717 14 Avenue SW calgary, alberta
dEVELOPMENT HIGHLIGHTS BELTLINE MARKET GROWTH
The Beltline is a Calgary community located immediately south of the downtown core designed as a mixed-use region with high density residential structures and retail amenities. This community features some of the most popular retail and entertainment districts in the City, including the Stampede Grounds. The next few years will include extensive growth to the Beltline’s office, retail and residential inventory as the City looks to add density to the inner-city and limit urban sprawl. Over 1.9 million sq. ft. of new office developments and 3,700 units of new residential developments are currently under construction or have been announced. The City of Calgary has approved the Beltline Area Redevelopment Plan (ARP) with the primary goal of increasing the residential density to have the Beltline be home to 40,000 residents by 2035. The population has been consistently increasing since 2004, from just over 16,100 people to 21,357 people in 2014, an increase of 32.7%. There is also capacity for significant future growth with the Beltline ARP suggesting the area has the redevelopment potential to almost triple the current population to 55,000 residents. The population growth is expected to be led by professionals seeking a home in close proximity to their workplace and nightlife. This increasing demand for Beltline-living can be seen in the rental rate growth for residential properties. The overall residential rental rate is $1,119 per month, representing a 9.9% increase from the previous year and the biggest annual gain reported from any area in Calgary. With regard to the vacancy rate, the Beltline saw a 40 basis point decline to 1.3% from the same period last year. The city-wide average residential rental rate has increased by 7.9% over the previous year, with buildings constructed after 2000 commanding a rental rate of $1,538, representing a premium of 37.6% over the average.
The Heritage will occupy a prominent corner location on 14th Avenue and 6th Street SW, while fronting onto the grounds of the historic Lougheed House and surrounding gardens to the North. At higher levels, the site offers excellent views of the downtown core in all directions.
For sale
LAND SITE OFFERING
703-717 14 Avenue SW calgary, alberta
offering process The intention of the Vendor is to make detailed information on the Property available to qualified prospective purchasers upon the execution of the Vendor’s Confidentiality Agreement. Shortly following the return of the Confidentiality Agreement, qualified prospective purchasers will be provided a detailed information package.
Contact Us harvey russell
Vice President 403-750-0525 harvey.russell@cbre.com
scott russell
Sales Representative 403-750-0516 scott.russell@cbre.com
This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation; to include all employees and independent contractors (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE. CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their respective owners. All Rights Reserved.
w w w.c b r e.c om
FOR SALE
1121 6th street SW High-density Multi Residential Heritage Density Transfer Calgary, AB FOR MORE I N F O R M AT I O N PLEASE C O N TA C T
Harvey Russell Vice President, Multi-Family and Land 403.750.0525 harvey.russell@cbre.com
for sale: 1121 6th street SW High density Multi Residential heritage density transfer :: calgary, alberta
Property information Municipal Address:
1121 6th Street SW, Calgary
Legal Description:
Plan A1 Block 72
Land use designation:
CC-X : Centre City Mixed Use District
Site area:
9,100 SF
Existing Improvements:
26 unit apartment
density rights:
85, 824 SF
density transfer incentive:
Purchasing through heritage designated owner allows for an additional 10% of density above the maximum allowable density.
List Price:
$21.00 Per SF
Land Use Designation:
CC-X : Centre City Mixed Use District The Centre City Mixed Use District: (a) is intended to provide for a mix commercial, residential and a limited range of light industrial uses on sites within the Centre City are; (b) is intented for mixed uses that are sensitive to adjacent districts that allow residential uses; (c) provides intense development where intensity is measured by floor are ratio; (d) provides a building form that is street oriented at grade; and (e) has a maximum base density with the opportunity for a density bonus over and above base density to achieve commercialresidential mixed use, public benefit and amenities within the same community. Floor Area Ratio
Total Density - 12 FAR
Site Photos:
6thStreet sw:
for sale: 1121 6th street SW High density Multi Residential heritage density transfer :: calgary, alberta
HERitage density guidelines: property details: Beltline Area Redevelopment Plan: Beltline ARP: http://2.beltline.ca/media/beltline_plan_one.pdf
Density Transfer for Heritage Preservation 1. Source Sites:
Unused density rights on an individual lot, created as a result of the formal designation of a building as a Municipal Historic Resource may be transferred or sold to another development site or sites within the Beltline. No limit shall be placed on the amount of density rights that can be assigned to, or transferred from, a designated site. At a minimum, the unused density shall be determined by subtracting the existing floor area from the total maximum allowable floor area. For example, for a 1,500 m² site in Density Area A that contains a 6,000 m² building on the heritage inventory, the minimum unused density upon formal designation would be calculated as follows: (Site Area x Maximum Density) – Existing Floor Area = Minimum Unused Density (1,500 m² x 7.0 FAR) – 6,000 m² = 4,500 m² Additional unused density rights may then be assigned over and above the 4,500 m² based on the bonus determined under section 5.3.2, subsection 4 Heritage Designation. These unused density rights shall be secured through an agreement acceptable to The City and where possible, registered on title. 2. Receiving Sites:
Sites receiving heritage density transfers may exceed their maximum allowable floor area by up to 10 percent, provided the additional 10 percent is entirely the result of a heritage density transfer. For example, if a site in Density Area A with a maximum allowable density of 7.0 FAR can achieve a floor area of 10,000 m², the development could achieve 11,000 m² provided the additional 1,000 m² is the result of a heritage density transfer. Until the ARP is implemented through City-initiated land use redesignations, receiving sites must obtain a site-specific Land Use Redesignation, implementing the overall ARP Density provisions, in order to implement this provision. Receiving sites may exceed their maximum allowable floor area by more than 10 percent with a heritage density transfer subject to a comprehensive evaluation through a Land Use Redesignation. The additional density must be appropriate and supportable given the local site context.
3. Updated Process:
We have recently changed our mechanism for transferring density. Before a DP (on receiving site) goes to Calgary Planning Commission (CPC) the Direct Control Land Use Re-designation on both the donor (heritage site protected by heritage bylaw) and receiving sites via a simple DC land-use re-designation will have first had to be approved at CPC and then at Council. Only then will the associated DP (for new development receiving site) go forward to CPC. At this time the donor / receiver parties are on the hook for the standard land-use re-designation charges (although there is a possibility the fees will be waived in the future). With the process above, as with other land use re-designations , there are several months lead time to get the re-designations through CPC/ Council. More information about the Density Transfer Incentive for the downtown area is available at: http://www.calgary.ca/PDA/LUPP/Pages/Heritage-planning/Heritage-Density-Transfer-Incentive.aspx
for sale: 1121 6th street SW High Density Multi Residential heritage density transfer :: calgary, alberta
Offering process
T h e Pr o p e r t y i s b e i n g m a r k e t e d f o r s a l e b y w a y o f a c o n v e n t i o n a l m a r k e t i n g p r o c e s s w i t h a l i s t p r i c e o f $ 2 1 . 0 0 p e r s q . f t . T h e i n t e n t i o n o f t h e Ve n d o r i s t o m a k e d e t a i l e d i n f o r m a t i o n o n t h e Pr o p e r t y a v a i l a b l e t o q u a l i f i e d p r o s p e c t i v e p u r c h a s e r s u p o n r e q u e s t a n d t o d e a l w i t h LO I s a n d O f f e r s t o Pu r c h a s e a s t h e y a r e r e c e i v e d .
FOR MORE I N F O R M AT I O N PLEASE C O N TA C T
Harvey Russell Vice President, Multi-Family and Land 403.750.0525 harvey.russell@cbre.com CBRE Limited | 530 - 8th Avenue SW | Suite 500 Calgary, AB T2P 3S8 | T 403 263 4444 | F 403 269 4202 | www.cbre.ca This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE. CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their respective owners. All Rights Reserved. Mapping Sources: Canadian Mapping Services canadamapping@cbre.com; DMTI Spatial, Environics Analytics, Microsoft Bing, Google Earth
320 5th Avenue S.E. Calgary, Alberta
Information SITE AREA:
123,689 SF
POSSESSION:
December 2015
IMPROVEMENTS:
YWCA and parking lot
PRICE:
NA
INVESTMENT HIGHLIGHTS:
Mixed use development site Close proximity to Bow River path system Adjacent to East Village and proposed Riocan Shopping Centre Site dimensions : 78.09 M by 147.13 M
LAND USE DC: Direct Control District DESIGNATION: Any owner of a parcel, his authorized agent, or other persons having legal or equitable interest in the parcel may apply to the General Manager to have the land use designation of the parcel changed through an amendment to this Bylaw.
FOR MORE INFORMATION PLEASE CONTACT:
Harvey Russell Vice President Investment Sales, Multi-Family & Land 403.750.0525 harvey.russell@cbre.com
This disclaimer shall apply to CB Richard Ellis Limited, a real estate brokerage, and its Canadian affiliates, CB Richard Ellis Alberta Limited, CB Richard Ellis Manitoba Limited, CB Richard Ellis Québec Limitée and CB Richard Ellis Advisory Services Inc. (collectively “CBRE”). © 2011 CB Richard Ellis Limited. The information set out herein (the “Information”) is intended for informational purposes only. CBRE has not verified the Information and does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability of any kind in connection with the Information and the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE.
Disclaimer: Any image or other information contained herein is the property of The City of Calgary or the respective owners of said image or information. All rights are reserved. No images or information contained herein may be reproduced in any form or by any means without the prior written consent of The City of Calgary. While The City of Calgary makes reasonable efforts to ensure the accuracy and reliability of the images and information contained herein, The City of Calgary disclaims all warranties, conditions, or guarantees, expressed or implied, including without limitation warranties and conditions of merchantability and fitness for any particular purpose or non-infringement. The City of Calgary is not responsible for any liability for any direct, indirect, incidental, consequential or other damages resulting from the use, reliance, misuse, or misrepresentation of the images or information contained herein.
1222 - 1240 5 Ave N.W.
Calgary, Alberta Information STATUS
Sold (Sept 27, 2013)
SITE AREA:
33,100 SF
POSSESSION:
April 2, 2014
IMPROVEMENTS:
8 Houses
PRICE:
$10,000,000
INVESTMENT HIGHLIGHTS:
Premium Hillhurst medium density residential development site Backs onto Riley Park Land use application approval Vendor open to sale or joint venture
FOR MORE INFORMATION PLEASE
MH1: Medium Density LAND USE Residential DESIGNATION: Base density: 4.0 FAR
CONTACT:
Harvey Russell Vice President Investment Sales, Multi-Family & Land 403.750.0525 harvey.russell@cbre.com
This disclaimer shall apply to CB Richard Ellis Limited, a real estate brokerage, and its Canadian affiliates, CB Richard Ellis Alberta Limited, CB Richard Ellis Manitoba Limited, CB Richard Ellis Québec Limited and CB Richard Ellis Advisory Services Inc. (collectively “CBRE”). © 2011 CB Richard Ellis Limited. The information set out herein (the “Information”) is intended for informational purposes only. CBRE has not verified the Information and does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability of any kind in connection with the Information and the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE.
Disclaimer: Any image or other information contained herein is the property of The City of Calgary or the respective owners of said image or information. All rights are reserved. No images or information contained herein may be reproduced in any form or by any means without the prior written consent of The City of Calgary. While The City of Calgary makes reasonable efforts to ensure the accuracy and reliability of the images and information contained herein, The City of Calgary disclaims all warranties, conditions, or guarantees, expressed or implied, including without limitation warranties and conditions of merchantability and fitness for any particular purpose or non-infringement. The City of Calgary is not responsible for any liability for any direct, indirect, incidental, consequential or other damages resulting from the use, reliance, misuse, or misrepresentation of the images or information contained herein.
1134-1160 Memorial Drive NW Calgary, Alberta
Information SITE AREA:
42,000 sq. ft.
POSSESSION:
June 8 2015 SOLD
IMPROVEMENTS:
13 Single Family Houses
PRICE:
$10,000,000
INVESTMENT HIGHLIGHTS:
Extremely desirable location Close to downtown Close to schools, shopping and other various amenities Established community
LAND USE M-CG d72: Multi Contextual DESIGNATION: Grade (Currently Being Rezoned M-C2) – is intended to provide for Multi-Residential development and to provide some or all units with direct access to grade; higher number of dwelling units than low density residential dwellings. Low height and low density.
FOR MORE INFORMATION PLEASE CONTACT:
Harvey Russell Vice President Investment Sales, Multi-Family & Land 403.750.0525 harvey.russell@cbre.com
This disclaimer shall apply to CB Richard Ellis Limited, a real estate brokerage, and its Canadian affiliates, CB Richard Ellis Alberta Limited, CB Richard Ellis Manitoba Limited, CB Richard Ellis Québec Limitée and CB Richard Ellis Advisory Services Inc. (collectively “CBRE”). © 2011 CB Richard Ellis Limited. The information set out herein (the “Information”) is intended for informational purposes only. CBRE has not verified the Information and does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability of any kind in connection with the Information and the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE.
Disclaimer: Any image or other information contained herein is the property of The City of Calgary or the respective owners of said image or information. All rights are reserved. No images or information contained herein may be reproduced in any form or by any means without the prior written consent of The City of Calgary. While The City of Calgary makes reasonable efforts to ensure the accuracy and reliability of the images and information contained herein, The City of Calgary disclaims all warranties, conditions, or guarantees, expressed or implied, including without limitation warranties and conditions of merchantability and fitness for any particular purpose or non-infringement. The City of Calgary is not responsible for any liability for any direct, indirect, incidental, consequential or other damages resulting from the use, reliance, misuse, or misrepresentation of the images or information contained herein.
FOR SALE Multi-Family / Retail Development Site Address:
17th Avenue & 14th Street SW
Land Use:
M-C2 Multi-Residential - CC-COR
Property Type:
Multi-Residential / Retail
Site area:
35,426 SF (Total)
Improvements:
3 Storey office building, 1 storey retail, houses, parking lot
List price:
$10.35 Million
For Sale: 17th avenue & 14th street sw medium density RESIDENTIAL/retail/commercial development site 17th Avenue &14th street sw :: CALGARY, ALBERTA Riverfront - Northwest Elevation
RE 14 B - C R 20 LD BE O S EM C DE
FOR MORE I N F O R M AT I O N PLEASE C O N TA C T
Ania Gryzewski
Harvey Russell
John Moss
Scott Russell
Retail Leasing
Vice President
Associate Vice President
Associate
403.750.0806
403.750.0525
403.999.6677
403.999.6677
ania.gryzewski@cbre.com harvey.russell@cbre.com john.moss@cbre.com
john.moss@cbre.com
for sale: 17th avenue & 14th street SW
medium density RESIDENTIAL/retail/commercial development site 17th Avenue &14th street sw :: calgary, alberta property details:
Address:
Size
LUD
#1-1531 16th Avenue SW
2,750 SF
M-C2
#1-1529 16th Avenue SW
3,850 SF
M-C2
#1-1527 16th Avenue SW
4,398 SF
M-C2
#1-1525 16th Avenue SW
4,509 SF
M-C2
Total
15,507 SF
#2-1609 14th Street SW
13,968 SF
C-CoR1 f3.oh23
#3-1602 14th Street SW
5,951 SF
CC-COR
zoning bylaws: land use:
Floor area ratio: BUILDING HEIGHT:
land usE:
Floor area ratio:
C-COR 1 Purpose: The Commercial Corridor 1 District is intended to be characterized by: (a) storefronts along a continuous block face; (b) opportunities for commercial uses on the ground floor of buildings and residential and office uses on upper floors’ The maximum / floor area ratio for parcels designated C-COR 1 is the number following the letter .f. The maximum building height for parcels designated C-COR 1 District is the number following the letter .h. expressed in metres. M-C2 Purpose: The Multi-Residential – Contextual Medium Profile District: (a) has Multi-Residential Development that will typically have higher numbers of Dwelling Units and traffic generation than low density residential dwellings and the M-CG and M-C1 Districts; (b) has of medium height and Multi-Residential Development medium density; The maximum floor area ratio is 2.5. (1)There is no maximum density for parcels designated M-C2 District, unless established as referenced in subsection (2). (2) The maximum density for parcels designated M-C2 District followed by the letter “d” and a number indicated on the Land Use District Maps is the number expressed in units per hectare.
for sale: 17th avenue & 14th street SW
medium density RESIDENTIAL/retail/commercial development site 17th Avenue &14th street sw :: calgary, alberta
Pictures:
site plan:
REASONS TO •
AB has grown by an average rate of 4.3% the past 4 years, almost twice the national average (2.3%) • Very strong population growth—the best in 30 years—pumps demand for housing and a wide array of consumer CONSIDER THIS goods and services INVESTMENT:: • RBC’s Home Ownership Poll said the number of Albertans’ intending to buy a home rose from 22% in 2013 to 28% in 2014 • Key factors included interest rates not rising as expected • Consumer debt levels are lower which has positively impacted peoples’ savings habits, allowing them to have money for a down payment *RBC
• Net migration to Calgary reached a record for the second consecutive year with 45,168 migrants, up 41% from 2012 • Multi-family starts, particularly apartments, reported a significant gain, while single-detached starts declined YoY • Apartment starts in March reached their second highest total for any month on record, behind March 2008 • There were 2,805 multi-family starts during 1Q14, up 160% from 1,078 units in 1Q13 *CMHC
for sale: 17th avenue & 14th street sw
medium density RESIDENTIAL/retail/commercial development site 17th Avenue &14th street sw :: calgary, alberta
SITE
O f f e r i n g p r o c ess
T h e Pr o p e r t y i s b e i n g m a r k e t e d f o r s a l e b y w a y o f a c o n v e n t i o n a l m a r k e t i n g p r o c e s s w i t h a l i s t p r i c e o f $ 5 , 3 5 0 , 0 0 0 . T h e i n t e n t i o n o f t h e Ve n d o r i s t o m a k e d e t a i l e d i n f o r m a t i o n o n t h e Pr o p e r t y a v a i l a b l e t o q u a l i f i e d p r o s p e c t i v e p u r c h a s e r s u p o n r e q u e s t a n d t o d e a l w i t h LO I s a n d O f f e r s t o Pu r c h a s e a s t h e y a r e r e c e i v e d .
F O R M O R E Ania Gryzewski I N F O R M AT I O N Retail Leasing P L E A S E 403.750.0806
Harvey Russell
John Moss
Scott Russell
Vice President
Associate Vice President
Associate
403.750.0525
403.999.6677
403.999.6677
C O N TA C T ania.gryzewski@cbre.com harvey.russell@cbre.com john.moss@cbre.com
john.moss@cbre.com
CBRE Limited | 530 - 8th Avenue SW | Suite 500 Calgary, AB T2P 3S8 | T 403 263 4444 | F 403 269 4202 | www.cbre.ca This disclaimer shall apply to CBRE Limited, Brokerage, and to all other divisions of the Corporation (“CBRE”). The information set out herein (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE.
FOR SALE Multi-Family Development Site Project name:
Riverfront
Municipal address:
304 4th Avenue SE
Land Use:
CC-ET Centre East Village Transition District
Site area:
1.06 acres
Phase 2 - Tower B1:
209, 612 (213 units)
Phase 2 - Tower B2:
255, 522 (252 units)
Improvements:
Parking lot
List price:
$15 Million
For Sale: riverfront high density RESIDENTIAL/office/commercial development site 304 4th Avenue se :: CALGARY, ALBERTA
Riverfront - Northwest Elevation
N SO O LD VE M -C BE BR R 20 E 14
FOR MORE I N F O R M AT I O N PLEASE C O N TA C T
Harvey Russell Vice President, Multi-Family and Land 403.750.0525 harvey.russell@cbre.com
for sale: RIVERFRONT
high density RESIDENTIAL/office/commercial development site 304 4th Avenue SE :: calgary, alberta
land use:
Centre City East Village Transition District (CC-ET) The Centre City East Village Transition District is intended to provide for: (a) an important transition between the higher density commercial and office uses of the downtown core and the more residential character or East Village. (b) a mix of uses within the transition zone between Downtown and East Village. (c) a greater variety of office, discretionary commercial, institutional and residential uses; and (d) a building form that is street oriented at grade. (e) other uses include: retail, financial, hotel, medical, parking lot, restaurant, super market and utility building.
density: property overview:
The maximum floor area ratio is 7.0 • The subject site originated with two phase, four tower condominium project. Phase 1 Towers A & C have been completed • This offering includes Phase 2 lands; - Common three level parkade - Tower B1-213 units/20 stories - Tower B-2 - 252 units/27 stories - Site D - six townhouses/two stories - 22,594 SF main floor retail • The parking garage required for Phase 2 lands is 3-level garage accomodating 477 cars
reasons to consider this investment:
• Development permit application completed 2011. • The property is well located in central business district which employs 130,000 people • The north elevations offer spectacular river valley views • The property is adjacent to popular Bow River pathway systems and recreation area • The surrounding area has a wide range of retail offerings and amenities, including Eau Claire Market, China Town, Bridgeland and Prince’s Island Park • The parking lot has serviced the immediate area office personel for many years. Net annual income projected to be $450,000 • The emerging East Village market will dramatically impact the long term development potential of this area. • Future access to services and amenities under development at East Village (http://www.calgary.ca/PDA/ LUPP/Pages/Current-studies-and-ongoing-activities/East-Village.aspx) This includes a 490,000 SF retail development, Riverwalk public space, St. Patrick’s Island upgrades, heritage building upgrades, hotel and art centre.
for sale: RIVERFRONT
high density RESIDENTIAL/office/commercial development site 304 4th Avenue SE :: calgary, alberta
29th FLOOR
25th FLOOR
20th FLOOR
15th FLOOR
10th FLOOR
5th FLOOR
2nd FLOOR
MAIN
North Elevations
1
SITE CONCEPT - SOUTH STREET ELEVATION 1:200
S-1.3
site plan:
PROPERTY LINE
PROPERTY LINE
BLDG C
STAIR EXIT FROM PARKADE
BALCONY 104 sf (9.63 sm) MASTER BEDROOM 10'-0" x 10'-0"
BALCONY 61 sf (5.69 sm)
MASTER BEDROOM 11'-0" x 11'-0"
BALCONY 82 sf (7.59 sm)
BEDROOM 10'-0" x 9'-0"
BEDROOM 9'-0" x 9'-4"/11'-3"
LIVING 10'-0"x12'-8"
MASTER BEDROOM 10'-0" x 10'-0"
LIVING/DINING
Unit 1B 10'-0"/12'-0" x 20'-10" 928sf (86sm)
LIVING/DINING 11'-0" x 16'-2"
Unit 8 660sf (61sm)
Unit 9 820sf (76sm)
DINING 10'-0" x 10'-0"
KITCHEN
KITCHEN MASTER BEDROOM 10'-0" x 12'-10"
DEN 6'-0" x 7'-9"
KITCHEN
LIVING 11'-0" x 13'-8"
MASTER BEDROOM 10'-2" x 10'-0"
EXISTING 4 STOREY BLDG
STAIR EXIT FROM PARKADE
Unit 7 950 sf (88.3 sm)
BEDROOM 9'-0" x 12'-0"
Unit 2D 833 sf (77.4 sm)
DEN 6'-0" x 7'-0"
LIVING/DINING 12'-0" x 19'-0"
KITCHEN 7'-6" x 9'-2"
BLDG D (3 STORIES)
ALCONY sf (5.18 sm)
PATIO (1 STOREY)
LIVING 10'-0" x 12'-0"
DINING 8'-8" x 10'-0"
Unit 6 713sf (66sm)
up
dn
dn
up
DEN 6'-8" x 8'-0"
BALCONY 82 sf (7.6 sm)
KITCHEN 7'-6" x 8'-9"
Unit 5 925sf (85.9sm)
DEN 7'-0" x 7'-0"
Unit 4B 760sf (70.6sm)
DINING 8'-6" x 10'-6"
DINING/LIVING 11'-2"/14'-1" x 18'-5" BALCONY 99 sf (9.20 sm)
LIVING 10'-0" x 11'-0"
ENCLOSED RAMP TO PARKADE
BLDG A
PHASE 2 DP APPLICATION
3 STOREY PODIUM BELOW
BALCONY 118 sf (11.0 sm)
CANOPY OVER ENTRANCE BELOW
BALCONY 56 sf (5.2 sm)
BALCONY 118 sf (11.0 sm) MASTER BEDROOM 10'-0" x 14'-8"
MASTER BEDROOM 10'-4" x 11'-10"
BALCONY 85 sf (7.9 sm)
Unit B 871 sf (80.9 sm)
BEDROOM 9'-4" x 10'-8"
BALCONY 52 sf (4.8 sm)
LIVING/DINING 10'-5" x 16'-4"
LIVING/DINING 10'-5" x 16'-7"
BEDROOM 9'-0" x 10'-2"
BEDROOM 9'-4" x 10'-8"
DEN 5'-7" x 6'-0"
Unit E 601 sf
BALCONY 52 sf (4.8 sm)
Unit E2 622 sf (57.8 sm)
DEN 5'-7" x 6'-0"
Unit E 601 sf
LIVING / DINING 17'-2" x 11'-4"
MASTER BEDROOM
DEN 5'-0" x 8'-2"
DEN 5'-0" x 8'-2"
DINING 8'-2" x 7'-9" DINING 10'-8" x 9'-0"
DINING 8'-2" x 7'-9"
Unit H 866 sf (80.5 sm)
MASTER BEDROOM 11'-9" x 9'-7"
DINING 10'-8" x 9'-0"
Unit G 605 sf (56.1 sm)
LIVING 10'-10" x 12'-6"
BEDROOM 9'-0" x 10'-5"
BEDROOM 9'-0" x 12'-0"
BEDROOM 10'-9" x 10'-0"
BALCONY 138 sf (12.8 sm)
Unit G 605 sf (56.1 sm) Unit F 960 sf
LIVING 11'-0" x 14'-8" MASTER BEDROOM 10'-0" x 10'-4"
LIVING 11'-1" x 17'-2"
Unit F 963 sf (89.5 sm)
LIVING 10'-10" x 12'-6"
BEDROOM 9'-0" x 10'-5"
BEDROOM 9'-0" x 12'-0"
BEDROOM 10'-9" x 10'-0"
BALCONY 84 sf (7.8 sm)
BALCONY 101 sf (9.4 sm)
Unit H 866 sf (80.5 sm)
MASTER BEDROOM 11'-9" x 9'-7"
Unit F 960 sf
LIVING 11'-0" x 14'-8" MASTER BEDROOM 10'-0" x 10'-4"
LIVING 11'-1" x 17'-2"
Unit F 963 sf (89.5 sm)
BALCONY 85 sf (7.9 sm)
Unit E2 622 sf (57.8 sm)
MASTER BEDROOM
3 STOREY PODIUM BELOW
LIVING/DINING 10'-5" x 16'-4"
LIVING/DINING 10'-5" x 16'-7"
Unit B 871 sf (80.9 sm)
LIVING/DINING 13'-1" x 19'-11"
LIVING / DINING 17'-2" x 11'-4"
BALCONY 138 sf (12.8 sm)
BALCONY 84 sf (7.8 sm)
BALCONY 101 sf (9.4 sm)
PROPERTY LINE
1 S-1.1
SITE CONCEPT - UPPER SITE PLAN 1:200
CANOPY OVER ENTRANCE BELOW
3 STOREY PODIUM BELOW
BLDG B1
BLDG B2
BEDROOM 9'-0" x 10'-2"
3 STOREY PODIUM BELOW
ALL INFORMATION WITHIN THE SHADED AREA IS PROVIDED AS PER APPROVED DP 2005-0884
BALCONY 56 sf (5.2 sm)
MASTER BEDROOM 10'-0" x 14'-8"
Unit 3D 908sf (83.7sm)
MASTER BEDROOM 10'-0" x 11'-0"
BALCONY 123 sf (11.5 sm)
ALL INFORMATION WITHIN THE SHADED AREA IS PROVIDED AS REFERENCE ONLY AND IS NOT PART OF THIS APPLICATION
MASTER BEDROOM 10'-4" x 11'-10"
BEDROOM 9'-0" x 10'-0"
ENCLOSED RAMP TO PARKADE
PROPERTY LINE
LIVING/DINING 13'-1" x 19'-11"
BEDROOM 9'-0" x 11'-7"
DEN 6'-0" x 6'-0"
MASTER BEDROOM 10'-0" x 13'-0"
PR OP
ER TY
LIN E
for sale: RIVERFRONT
high density RESIDENTIAL/office/commercial development site 304 4th Avenue SE :: calgary, alberta
AERIAL:
Macleod Trail SE
SITE
3rd Avenue NE
2rndAvenue NE
Mem
oria
l Dr
SE enue
Street
4 th Av
ue S
E
E
Centre
5 th A ven
Riverfront Avenue SW
ive N
NE
FOR MORE I N F O R M AT I O N PLEASE C O N TA C T
Harvey Russell Vice President, Multi-Family and Land 403.750.0525 harvey.russell@cbre.com CBRE Limited | 530 - 8th Avenue SW | Suite 500 Calgary, AB T2P 3S8 | T 403 263 4444 | F 403 269 4202 | www.cbre.ca This disclaimer shall apply to CBRE Limited, Brokerage, and to all other divisions of the Corporation (“CBRE”). The information set out herein (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE.
FOR SA L E
B e s t- o f - Cl a s s m i x e d - u s e d d e v e o p m e n t
Offering is for high-density r e s i d e n t i a l o n ly
For Sale
residential development: mount royal west 918 - 940 16th Avenue SW & 1515 8th Street SW :: CALGARY, ALBERTA
S FE OL BR D UA - C RY BR 20 E 14
JUN
FOR MORE I N F O R M AT I O N PLEASE C O N TA C T
Harvey Russell Vice President, Multi-Family and Land 403.750.0525 harvey.russell@cbre.com
for sale
residential development: mount royal west 918 - 940 16th Avenue SW & 1515 8th Street SW :: CALGARY, ALBERTA
Project name:
Mount Royal West - Best of Class Site - Core of 17th Avenue Retail District
municipal address:
918-940 16th Avenue SW 1515 8th Street SW
Location:
16th Avenue and 8th Street SW
Legal Description:
Plan A1; Block 111; Lots 21 - 40
Land use designation:
Centre City Multi-Residential High-Rise Commercial District (CC-MHX)
site area:
15,939 SF (123’ x 130’)
Residential price:
$9,650,000
residential high-rise building area
Main Floor = +/- 891m2, (+/- 9,592 SF) GFA CRU = +/- 96m2, (+/- 1,036 SF) GFA CRU = +/- 96m2, (+/- 1,036 SF) GFA CRU = +/- 103m2, (+/- 1,111 SF) GFA 2nd - 7th Floor Residential 8th - 26th Floor Residential 27th - 31st Floor Residential TOTAL GFA
= 6 @ +/- 846m2 = 5,076m2, (+/- (54,639 SF) GFA = 19 @ +/- 650m2 = +/- 12,350m2, (+/- 132,939 SF) GFA = 5 @ +/- 548m2 = +/- 2,740m2, (+/-29,494 SF) GFA
= +/- 21,057m2, (+/-226,663 SF) GFA
unit count
Levels 2 - 7 @ 8 Units/Level = 48 Units, (w/ 12 two bed & 36 one bed) Levels 8 - 26 @ 8 Units/Level = 152 Units (w/ 76 two bed & 76 one bed) Levels 27 - 31 @ 6 Units/Level = 30 Units, (w/ 10 two bed & 20 one bed) TOTAL
= 230 Units, (w/ 98 two bed & 132 one bed)
Retail building area
Main Floor = +/- 3,156m2, (+/- 33,970 SF) GFA Supermarket = +/- 2,650m2, (+/- 28,500 SF) GFA Second Floor = +/-3,340m2, (+/-35,950 SF) GFA Supermarket = +/- 465m2, (+/-5,000 SF) GFA Retail ‘A’ = +/- 1,574m2, (+/-16,940 SF) GFA Retail ‘B’ = +/- 330m2, (+/- 3,550 SF) GFA Retail ‘C’ = +/- 426m2, (+/- 4,585 SF) GFA Skywalk = +/- 137m2, (+/- 1,475 SF) GFA (Note: Skywalk not included in area calculations) Third Floor = +/- 2,885m2 (+/- 31,055 SF) GFA Fitness Centre = +/- 2,770m2, (+/- 29,817 SF) GFA Total GFA
= +/- 9,381m2, (+/- 100,980 SF)
for sale
residential development: mount royal west 918 - 940 16th Avenue SW & 1515 8th Street SW :: CALGARY, ALBERTA property overview
• Best of class mixed-use development in Calgary’s flourishing Beltline District encompassing an entire city block • A considerable 101,000 SF, three floor retail complex with surface parking and an additional 336 stall underground parkade • An impressive, skyline altering, 31 storey 230 unit residential tower situated over a 5-level 213 stall underground parking garage • Located within the block will be a major supermarket, a variety of commercial retail outlets and a state of the art fitness centre • Procedures are moving forward for a formal application for land use and development permits • Two blocks south of the proposed development is the prestigious Mount Royal community, one of Calgary’s wealthiest neighborhoods • Located in the heart of Uptown 17th Avenue (www.uptown17.ca), the pulse of Calgary. Where people come to live, work, dine and shop. • Situated within close proximity to a unique blend of 200 fashionable shops, eateries, entertainment venues and professional services
site plan:
for sale
residential development: mount royal west 918 - 940 16th Avenue SW & 1515 8th Street SW :: CALGARY, ALBERTA
Location maps:
offering process
The intention of the Vendor is to make detailed information on the Property available to qualified prospective purchasers upon the execution of the vendors of Confidentiality Agreement. Shortly following the return of the Confidentiality Agreement, qualified prospective purchasers will be provided access to detailed information on the Property via CBRE’s Extranet website. The Vendor reserves the right to respond to Letters of Intent or Offers to Purchase prior to the stated Bid Date.
FOR MORE I N F O R M AT I O N PLEASE C O N TA C T
Harvey Russell Vice President, Multi-Family and Land 403.750.0525 harvey.russell@cbre.com CBRE Limited | 530 - 8th Avenue SW | Suite 500 Calgary, AB T2P 3S8 | T 403 263 4444 | F 403 269 4202 | www.cbre.ca This disclaimer shall apply to CBRE Limited, Brokerage, and to all other divisions of the Corporation (“CBRE”). The information set out herein (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE.
F
5S
438 unit residential development site
M
CE
DE
E 3 BR $28. C / LD SO 2013 R BE
municipal address:
1227 11th Avenue SW
LEgal Description:
Plan A1, Block 77, Lots 1-14
land use designation:
CC-X
site area:
0.97 Acres
Improvements:
589-Stall Underground Parking Garage
List Price:
$39,800,000
For SAle: partially constructed residential development site Beltline :: Calgary, AB
Shawnee Gate SW F O R M O R E I N F O R M AT I O N C O N TA C T:
Garry Beres
Ken Westhaver
Harvey Russell
Executive Vice President
Senior Vice President
Vice President
403.750.0522
403.750.0509
403.750.0525
garry.beres@cbre.com
ken.westhaver@cbre.com
harvey.russell@cbre.com
For sale: partially constructed residential development site Beltline :: Calgary, AB
property overview
• The proposed project includes 438 residential units, which have not been completed as yet. The Development Permit for the Property was approved in 2011 (DP2011-2488) • The parking garage has been completed. A total of 589 underground parking stalls have been constructed on the site • With its current CC-X Land Use designation, a base density of 8.0 FAR is available and this can be increased through bonusing provisions outlined in The City of Calgary Land Use Bylaw 1P2007
For sale: partially constructed residential development site Beltline :: Calgary, AB
reasons to consider this investment
• The Property is well-located in the trendy western sector of the Beltine district • The Property is situated in a high profile location, offering outstanding views and access to the downtown core and the retail amenities located along 17th Avenue • With the parking garage constructed, the risk and time associated with construction of the parkade is removed • The approved Development Permit, as it is still active, permits the existing project to continue or allows one to pursue another project on the site, given its CC-X designation • Calgary’s current multi-family vacancy rate in the Spring 2012 was 2.5%. CMHC forecasts that the vacancy rate will reach 1.7% by year end 2012 and be 1.5% in 2013 • Calgary rental rate average rents across all bedroom types increased 5.3% for the 12 month period ending April 2012 • Calgary has the second highest rental rate for two-bedroom apartments (structures of three or more units) across Alberta’s major urban centres
AERIAL
For sale: partially constructed residential development site Beltline :: Calgary, AB
n o r t h e l e v at i o n
s o u t h e l e v at i o n
offering process
The Property is being offered for sale with a List Price of $39,800,000. Offers submitted for the Property are subject to Court approval. It is the intention of the Monitor to consider offers received on a first come first served basis. The Monitor is prepared to consider either Letters of Intent or Offers to Purchase. Once the terms and conditions of a prospective acquisition are agreed to between the Monitor and a prospective purchaser, the Purchase and Sale contract can then be prepared and application will be made to the Court seeking final approval of the sale. F O R M O R E I N F O R M AT I O N C O N TA C T:
Garry Beres
Ken Westhaver
Harvey Russell
Executive Vice President
Senior Vice President
Vice President
403.750.0522
403.750.0509
403.750.0525
garry.beres@cbre.com
ken.westhaver@cbre.com
harvey.russell@cbre.com
CBRE Limited | 530 - 8th Avenue SW | Suite 500 | Calgary, AB T2P 3S8 | T 403.263.4444 | F 403.269.4202| www.cbre.ca This disclaimer shall apply to CBRE Limited, Brokerage, and to all other divisions of the Corporation (“CBRE”). The information set out herein (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE.
SE
PT
EM SOL BE D R1-C 4 / BRE $3 0.7 5
beltline development site
Cristal Tower development site 1320 11th avenue sw :: calgary, ALBERTA
F O R M O R E I N F O R M AT I O N C O N TA C T:
Garry Beres
Geoff Mar
Ken Westhaver
Harvey Russell
Executive Vice President
Senior Vice President
Senior Vice President
Vice President
403.750.0522
403.750.0512
403.750.0509
403.750.0525
garry.beres@cbre.com
geoff.mar@cbre.com
ken.westhaver@cbre.com
harvey.russell@cbre.com
SF
Beltline development site
Cristal Tower development site 1320 11th Avenue SW :: Calgary, Alberta Planning Status •
The Property is currently designated CC-X, Centre City Mixed Use District pursuant to The City of Calgary Land Use Bylaw, 1P2007
•
The CC-X District allows for a mix of commercial and residential uses
•
The base density is 8.0 FAR, with density provisions allowing for bonusing up to an additional 4.0 FAR
•
A Development Permit (DP2007-2006) was approved in 2007 that provided for a 9.54 FAR project including 207 units
Site Information • Corner site comprising approximately 29,250 square feet • High-visibility location at the northwest corner of the intersection of 11th Avenue and 12th Street SW aerial
Development Site
reasons to consider this investment • The Property is located in Calgary’s Beltline area, which is the prime area for residential development in the inner-city • The number of development sites available for acquisition continue to decline, particularly in the west end • Given the increasing difficulty of obtaining approvals for development projects in the suburbs, inner-city development offers a faster and more efficient path to completing and bringing product to market.
photos
Land use map
aerial
lo c at i o n m a p
site
Site
OFFERING PROCESS Subsequent to a filing pursuant to the Companies’ Creditors Arrangement Act (Canada), CBRE Limited has been appointed by HII (105) GP Inc., in its capacity as general partner of Homco Realty Fund (105) Limited Partnership and Samson Bélair/Deloitte & Touche Inc., in its capacity as Court-appointed monitor of Homco 105 (the “Monitor”) to market the property for sale. CBRE LIMITED
530 - 8th Avenue SW, Suite 500 Calgary, AB T2P 3S8 Tel: 403 263-4444 Fax: 403 269-4202
CANADIAN MAPPING SERVICES www.cbre.ca/cmg
This disclaimer shall apply to CBRE Limited, Brokerage, and all of its real estate agents, and to all other divisions of the Corporation (collectively "CBRE"). The information set out herein (the "Information") has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE.
The Property has been listed for sale at a price of $8,500,000. The Monitor will consider offers to purchase for the Property as they are received. If an acceptable offer is received through the sale process, the Monitor may elect to recommend same to The Court for approval.
:: Garry Beres
:: Geoff Mar
:: Ken Westhaver
:: Harvey Russell
Executive Vice President T 403 750.0522 garry.beres@cbre.com
Senior Vice President T 403 750 0509 ken.westhaver@cbre.com
Senior Vice President T 403 750 0512 geoff.mar@cbre.com
CBRE Limited 530 8th Avenue SW, Suite 500 Calgary, Alberta T2P 3S8 T 403 263 4444 F 403 269 4202
Vice President T 403 750 0525 harvey.russell@cbre.com
www.cbre.ca
This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation (“CBRE”). The information set out herein (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited.
FOR SALE
astoria on tenth mixed use development opportunity calgary, AB
FOR MORE I N F O R M AT I O N PLEASE C O N TA C T
Harvey Russell Vice President, Multi-Family and Land 403.750.0525 harvey.russell@cbre.com
DECEM
SO BER LD 20 - CB 13 RE /$ 35 .35
SF
for sale: astoria on tenth mixed use development opportunity :: calgary, alberta
project name:
Astoria on Tenth
municipal address:
917 10th Avenue SW
Legal Description:
Plan A1, Block 65, Lots 1 - 8
Land use designation:
CC-X (City Centre Mixed Use)
site area:
35,750 SF
existing improvements included:
400 stall, 5-level underground parkade
list price:
Twenty Five Million ($25,000,000)
Phase 1 property overview:
• • •
Development Permit approved for 286,768 SF; 244,359 SF residential, 30,171 SF office and 12,238 SF retail Development Permit (DP# 2006-3199) remains valid and Building Permit (BP# 2007-0945) was cancelled The site is a rectangular shape - 200’ x 130’
Phase 2 property overview:
• •
Several options were considered including a 17-storey boutique hotel; 124,790 SF - preliminary drawings available The site is a rectangular shape - 75’ x 130’
property summary:
• • • •
To date the underground garage structure has been constructed to grade and contains 400 parking stalls which provides parking for Phase I and II The property is situated in a high profile location, offering superior access to the Central Business District and LRT (Light Rail Transit) station on 7th Avenue SW and 8th Street SW Two grocery stores and many other services and amenities are within two blocks of the site The underground parking structure has been completed, allowing a short-term turnaround for construction the balance of the project
site plan:
for sale: astoria on tenth mixed use development opportunity :: calgary, alberta
investment highlights:
•
The subject site resides in the highest density area of the Beltline ARP
•
Mixed use classification is designed to create urban streetscapes that are vibrant and incorporate business and pedestrian traffic, while allowing for high density residential development above street level
•
The city centre condominium market witnessing strongest absorptions since 2008
•
The Premium location offers numerous benefits:
• •
• Unobstructed views of the downtown skyline • Superior access to Central business district • C-Train service is located 2 blocks north of site • Walking distance to numerous services and amenities including 17th Ave entertainment district • Seven blocks from the newly redeveloped CORE downtown shopping centre Adjacent to the site is a new 33-storey residential development www.qualex.ca/mark Other 10th Avenue developments; high-rise residential tower, rental apartment tower, two hotels and three office towers
for sale: astoria on tenth mixed use development opportunity :: calgary, alberta
offering process
The intention of the Vendor is to make detailed information on the Property available to qualified prospective purchasers upon the execution of the vendors of Confidentiality Agreement. Shortly following the return of the Confidentiality Agreement, qualified prospective purchasers will be provided access to detailed information on the Property via CBRE’s Extranet website. The Vendor reserves the right to respond to Letters of Intent or Offers to Purchase prior to the stated Bid Date. FO R MO R E I NFO R MAT I ON P L E AS E C ON TA C T
Harvey Russell Vice President, Multi-Family and Land 403.750.0525 harvey.russell@cbre.com CBRE Limited | 530 - 8th Avenue SW | Suite 500 Calgary, AB T2P 3S8 | T 403 263 4444 | F 403 269 4202 | www.cbre.ca This disclaimer shall apply to CBRE Limited, Brokerage, and to all other divisions of the Corporation (“CBRE”). The information set out herein (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE.
42
RE 35. B C /$ D L 2 SO 201 ER B O CT
SF
for sale: midtown
Best of Class, Beltline Development Project
O
:: Calgary, AB
F O R M O R E I N F O R M AT I O N C O N TA C T:
Garry Beres
Geoff Mar
Harvey Russell
Senior Vice President
Senior Vice President
Vice President, Multi Family & Land
403.750.0522
403.750.0512
403.750.0525
garry.beres@cbre.com
geoff.mar@cbre.com
harvey.russell@cbre.com
for sale: midtown
Best of Class, Beltline Development Project :: Calgary, AB
Project name:
Midtown
municipal address:
515 and 517 10th Avenue SW
LEGAL DESCRIPTION:
Plan 196EA; Block 69; Portions of Lots 6-20
land use designation:
DC-33D2010
site area:
47,578 SF
proposed Building Area:
571,094 SF*
Improvements:
741-Stall Parking Structure and 35,052 SF Podium Structure
List Price:
No List Price
* As per DP 2005-3925/ DP 2007-2550 (Amended DP)
Property overview
• The Midtown development project is proposed to include 650 residential units and 35,052 square feet of commercial premises, located at the corner of 4th Street and 10th Avenue SW • The commercial premises within the project are located on the ground floor • The property encompasses a best-of-class site, located along one of the main entrances into Calgary’s Central Business District • To date, the parking structure has been brought to grade and the first level of the podium structure completed • The parking structure contains 741 parking stalls (617 designated for residential use) • Development Permits (DP 2005-3925 and DP 2007-2550) have been approved for the project proposed site plan
PROJECT INFORMATION: LEGAL DESCRIPTION:
MUNICIPAL ADDRESS:
EXISTING ZONING: PROPOSED ZONING: SITE AREA:
DENSITY:
PARKING CALCULATION:
LOT: PORTIONS OF LOTS 6 TO 20 BLOCK: 69 PLAN: 196 EA 515 & 517 - 10th AVENUE S.W. CALGARY, ALBERTA
PARKING REQUIRED VISITORS
RESIDENTIAL TOTAL PARKING REQUIRED:
DC CM-2 DC 47,576.5 FEET 2 4,420.0 METERS 2 1.09 ACRES 0.44 HECTARES 650 UNITS ON 0.44 HECTARES = 1,470.6 UNITS PER HECTARE 2
=
FLOOR AREA RATIO: (RETAIL)
24,585.0 FEET 2 47,576.5 FEET ÷ 0.52 RETAIL F.A.R.
2
=
SITE COVERAGE:
36,928.0 FEET 2 77.62%
2
=
FLOOR AREA RATIO: (TOTAL BUILDING)
571,094.0 FEET 2 12.00 F.A.R.
÷
÷
47,576.5 FEET
47,576.5 FEET
BUILDING AREA 650 UNITS X
RETAIL 24,585 FEET 2 TOTAL VISITOR PARKING REQUIRED: 650 UNITS X
PARKING PROVIDED: LEVEL P1 - VISITOR LEVEL P2 - VISITOR LEVEL P2 - RESIDENT LEVEL P3 - RESIDENT LEVEL P4 - RESIDENT LEVEL P5 - RESIDENT LEVEL P6 - RESIDENT LEVEL P7 - RESIDENT
0.15 STALL
97.5 STALLS 2
25.4 STALLS 122.9 STALLS
0.90 STALL PER UNIT
585.0 STALLS 707.9 STALLS
÷
968.75 FEET
STANDARD CAR 64 STALLS 60 STALLS 30 STALLS 117 STALLS 117 STALLS 117 STALLS 117 STALLS 119 STALLS
TOTAL VISITOR PARKING PROVIDED:
124 STALLS
TOTAL RESIDENT PARKING PROVIDED:
617 STALLS
TOTAL PARKING PROVIDED:
741 STALLS
LOADING ZONES PROVIDED:
2 BAYS
PARKADE LEVEL P7 - P2 6X P1
DWELLING UNITS
44,579 FEET 2
TOTAL BELOW GRADE
PODIUM LEVEL 01 RETAIL: 01 OTHER*: 02 03
AREA 267,474 FEET 2 42,148 FEET 2
INCLUDES ENTRY RAMP
309,622 FEET
2
AREA 2
24,585 FEET 10,467 FEET 2
TOTAL PODIUM
TOWER 1 (WEST TOWER) 04-24 21 X 9,162 FEET 2
35,052 FEET 2 40,014 FEET 2 39,820 FEET 2 114,886 FEET 2
AREA 192,402 FEET 2
UNIT TYPE
UNIT AREA (SQ. FEET)
A B C D1 D2 E F Q G G1 H H1 I J
827 673 681 567 506 1,016 508 1,062 781 767 761 743 759 759
FEET 2 FEET 2 FEET 2 FEET 2 FEET 2 FEET 2 FEET 2 FEET 2 FEET 2 FEET 2 FEET 2 FEET 2 FEET 2 FEET 2
BALCONY AREA (SQ. FEET) 93 68 68 68 68 93 62 144 43 43 43 43 43 43
FEET 2 FEET 2 FEET 2 FEET 2 FEET 2 FEET 2 FEET 2 FEET 2 FEET 2 FEET 2 FEET 2 FEET 2 FEET 2 FEET 2
NUMBER OF BED ROOMS 2 1 1 1 1 2 1 1 1 1 1 1 1 1
PODIUM
TOWER 1 (WEST)
TOWER 2 (EAST)
NUMBER OF UNITS
NUMBER OF UNITS
NUMBER OF UNITS
+ DEN + DEN
+ + + + + + +
OFFICE OFFICE OFFICE OFFICE OFFICE OFFICE OFFICE
2 30 22 2 2 4 4
UNITS UNITS UNITS UNITS UNITS UNITS UNITS
43 21 22 21 22 44 86
AMENITY SPACE NUMBER OF UNITS BY TYPE
UNITS 51 UNITS 94 UNITS UNITS 25 UNITS 46 UNITS UNITS 26 UNITS 48 UNITS UNITS 25 UNITS 46 UNITS UNITS 26 UNITS 48 UNITS UNITS 52 UNITS 96 UNITS UNITS 102 UNITS 188 UNITS 2 UNIT 30 UNITS 22 UNITS 2 UNITS 2 UNITS 4 UNITS 4 UNITS
FITNESS L02 FITNESS L03 WEST CONF. ROOM L02 WEST CONF. ROOM L03 EAST CONF. ROOM L02 EAST CONF. ROOM L03 PODIUM LOUNGE L02 WEST TOWER LOUNGE L04 EAST TOWER LOUNGE L04
947 873 477 477 322 322 DELETED 1,016 1,016
FEET FEET FEET FEET FEET FEET FEET FEET
2 2 2 2 2 2
2 2
for sale: midtown
Best of Class, Beltline Development Project :: Calgary, AB
reasons to consider this investment
• The Midtown development project site is widely considered a best-of-class location in Calgary’s Beltline District • The property is situated in a high profile location, offering superior access to the Central Business District • The site is located two blocks from the newly redeveloped CORE downtown shopping centre • The surrounding area has a wide range of retail offerings, restaurants and personal service businesses • The underground structure and the first level of the podium has been completed, allowing a short-term turnaround for constructing the balance of the project • Given its two-tower design, construction can easily be phased to optimally match pre-sales and absorption • The offering represents an opportunity to control a first-to-market project in Calgary at the commencement of the next building cycle AERIAL photo
LRT Line
S ITE
for sale: midtown
Best of Class, Beltline Development Project :: Calgary, AB
S a m p l e f lo o r p l a n s
E l e v at i o n p e r s p e c t i v e
L i v e / W o r k Lo f t s p l a n
o f f e r i n g p r o c e ss
The Midtown Development Project is being offered for sale without a List Price. Based on information to be made available to qualified prospective purchasers by way of CB Richard Ellis’ Extranet web-based document delivery system, or upon specific request of CB Richard Ellis by a prospective purchaser, interested parties are invited to submit expressions of interest to purchase the Property. It is the intention of the Vendor to select a date for the submission of expressions of interest to purchase the Property toward the middle of February, 2011. CBRE will notify qualified prospective purchasers regarding the Vendor’s selected submission date by the last week of January, 2011.
F O R M O R E I N F O R M AT I O N C O N TA C T:
Garry Beres
Geoff Mar
Harvey Russell
Senior Vice President
Senior Vice President
Vice President, Multi Family & Land
403.750.0522
403.750.0512
403.750.0525
garry.beres@cbre.com
geoff.mar@cbre.com
harvey.russell@cbre.com
CB Richard Ellis Limited | 530 - 8th Avenue SW | Suite 500 | Calgary, AB T2P 3S8 | T 403.263.4444 | F 403.269.4202| www.cbre.ca This disclaimer shall apply to CB Richard Ellis Limited, Brokerage, and to all other divisions of the Corporation (“CBRE”). The information set out herein (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE.
FO R SAL E High Quality Residential Development Site
Municipal Address:
626 14th Avenue SW
Legal description:
Plan A1; Block 90, Lots 27-34
Approx. site area:
26,050 SF
land-use designation:
CC - MH Centre City Multi Residential High Density District
improvements:
None
list price:
$5,000,000
prime beltline
development site for sale
626 14th avenue SW :: CALGARY, ALBERTA
JUL SO Y 2 LD 01 - C 1 - BR $3 E 4.6 1s f
F O R M O R E I N F O R M AT I O N C O N TA C T :
Ken Westhaver
Harvey Russell
403.750.0509
403.750.0525
ken.westhaver@cbre.com
harvey.russell@cbre.com
prime beltline
development site for sale 626 14th Avenue SW :: calgary, Alberta
location
:: The Beltline is bounded on the south by the popular 17th Avenue, on the west by 14th Street and on the east by the Elbow River. The Beltline is a region of central Calgary located immediately to the south of Downtown Calgary’s 9th Avenue :: The area is extensively served by Calgary Transit bus routes and has access to Calgary’s Light Rail Transit System at Victoria Park and Stampede Station
Neighbourhood
:: Within the Beltline District, the total population was 17,818 in 2008, with 34.8% being between the ages of 25-34 (2009 City of Calgary, Community & Neighbourhood Services) :: Commercial amenities include 17th Avenue and 4th Street retail corridors. These areas provide an array of restaurants, shopping and nightlife. :: The Beltline is in the midst of an ambitious urban planning and rejuvenation venture planned to increase the residential density. The Beltline Area Redevelopment Plan was approved in 2006. The Plan details land use policies and implementation recommendations which are designed to accommodate up to 40,000 residents in the area by 2035
Property view - East
Property View - West, Lougheed House and park
prime beltline
development site for sale 626 14th Avenue SW :: calgary, Alberta
Property description
:: 26,050 square feet, generally square in configuration :: Desirable, inner-city site minutes from downtown Calgary :: Centralized location provides easy access to many of Calgary’s major amenities and attractions
Land Use designation
:: Centre City Multi-Residential High Rise District (CC-MH) :: The Property has an existing Development Permit (DP2007-3329) that can be used or an alternative development program, under the existing CC-MH land use district, could be undertaken :: Provides a base FAR of 5.0 with bonus provisions that permit up to 7.0 FAR
highlights
:: The Property is located in the heart of the Beltline, immediately adjacent to the terraced formal Beaulieu Gardens of the historic Lougheed House, the Ranchman’s Club and the high-end condominium high-rise; Hull Estates :: While there are a number of development sites in the Beltline, none offer the location of this Property
site plan
prime beltline
development site for sale 626 14th Avenue SW :: algary, Alberta
beltline arp - land use density
SITE
beltline
Density Area
Base Density (Floor Area Ratio FAR)
Maximum Density with Bonuses and Transfers of Density (FAR)
arp Density
A
5.0
7.0
Provisions
B
3.0 for Commercial West of Macleod Trail 5.0 for Commercial East of Macleod Trail 5.0 for Residential/Mixed Use
3.0 for Commercial West of Macleod Trail 8.0 for Commercial East of Macleod Trail 9.0 for Residential/Mixed Use
C
5.0 for Commercial 8.0 for Residential/Mixed Use
8.0 for Commercial 12.0 for Residential/Mixed Use
D
3.0
3.0 West of Centre Street 4.0 East of Centre Street
1
1
offering
Source: Beltline Area Redevelopment Plan, City of Calgary, 2006
Interested parties are requested to contact CBRE to obtain the form of offer.
process
CBRE Limited, 530 - 8th Avenue SW, Suite 500, Calgary, AB T2P 3S8, T 403.263.4444, F 403.269.4202, www.cbre.ca This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE. CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their respective owners. All Rights Reserved. Mapping Sources: Canadian Mapping Services canadamapping@cbre.com; DMTI Spatial, Environics Analytics, Microsoft Bing, Google Earth
Land Sale Comparables April 2011- To Date
Calgary Market Land Sales - High Density - Inner City Date Nov-15 Nov-15 Sep-15 Sep-15 Jun-15 Jun-15 Mar-15 Jan-15 Dec-14 Dec-14 Dec-14 Nov-14 Nov-14 Aug-14 Aug-14 Sep-14 Sep-14 Oct-14 Oct-14 Jun-14 Apr-14 Jan-14 Jan-14 Dec-13 Dec-13 Sep-13 Oct-13 Jul-13 Apr-13 Feb-13 Oct-12 Oct-12 Oct-12 Mar-12 Mar-12 May-12 * ** ***
Cost of Address Bonus Density Bonus Density 434 8 Avenue SE 36,903 $959,478 320 5th Avenue SE 1203 Macleod Trail SE 335,836 $8,731,736 1405 4th Street SW 105,368 $2,739,568 1313 Centre Street SW 6,969 $181,194 105 13th Avenue SW 14,026 $364,676 431 6th Avenue SE 184,257 $4,790,682 510-12th Avenue SW*** 136,740 $3,555,240 508-525 11th Ave SE 107,328 $2,790,528 1531-1525 16th Avenue SW 1009 Centre Avenue NE 1919 Macleod Trail SE 569,368 $14,803,568 633 3rd Avenue SW 97,494 $2,534,844 1313 1st SE*** 140,092 $3,642,392 103/107 4th St NE & 450 Marsh Rd NE 101 11th Avenue SE 560,000 $14,560,000 1316 11th Ave SW*** 117,000 $3,042,000 1202-1226 12th Avenue SW*** 182,336 $4,740,736 206 26 Avenue SW 553 Riverfront Avenue SE 602-628 12th Ave SE 233 10th Street NW 301 & 303 10th Street NW Sum of two Kensington sites (assembly) 1227-11 Ave SW*** 169,012 $4,394,312 917-10th Ave SW*** 143,000 $3,718,000 1222-1240 5th ave NW 1215 5th Street SW*** 26,000 $676,000 107-119 13th Ave SE 1111 9th Avenue SW 536, 604 6th Ave SE 524 10th Ave SW 301 11 Ave SW (Office) 1501-1507 6 Street SW 526-538 7th Ave SE 614-10th Ave SW*** 263,104 $6,840,704 536 6th Ave SE 304,485 $7,916,610 Average Site improvements $15,330,000 (@ 35,000 / Parking Stall) Site improvements $14,000,000 (@ 35,000 / Parking Stall) Potential to bonus 2 to 4 FAR / purchased from city at $26.00 / SF
Total Density*** 123,010 1,007,508 237,078 62,721 49,091 614,190 410,220 321,984
1,708,104 649,960 315,207 1,680,000 351,000 547,008
507,036 429,000 91,000
789,312 984,502
Price $2,814,432 $48,875,000 $18,000,000 $8,250,000 $1,620,000 $2,450,000 $16,384,631 $21,750,000 $3,350,000 $7,850,000 $4,500,000 $22,500,000 $36,900,000 $12,400,000 $3,430,000 $38,000,000 $7,195,000 $19,200,000 $4,650,000 $5,150,348 $7,035,000 $1,800,000 $3,659,000 $5,459,000 $30,200,000 $23,850,000 $10,000,000 $3,620,000 $10,503,231 $24,800,000 $4,664,880 $30,350,000 $17,000,000 $5,600,000 $4,264,000 $17,000,000 $16,267,000 $13,549,771
Land Area /SF 12,301 123,689 83,959 26,342 6,969 7,013 61,419 34,185 26,832 29,475 43,995 142,342 32,498 35,023 30,421 140,000 29,250 45,584 12,477 57,063 60,458 5,297 13,750 19,047 42,253 35,750 33,100 13,000 45,521 136,037 32,931 80,842 55,936 19,250 26,136 65,776 101,495
$ Land /Ft $229 $395 $214 $313 $232 $349 $267 $636 $125 $266 $102 $158 $1,135 $354 $113 $271 $246 $421 $373 $90 $116 $340 $266 $287 NA NA $302 $278 $231 $182 $142 $375 $304 $291 $163 $258 $160 $285 Sales by CBRE Limited
Zoning Base GFA Base CC_ET 7 $32.69 DC 10.5 $37.63 CC-X 8.0 $26.80 CC-COR 5.0 $62.64 DC 8.0 $29.06 DC 5.0 $69.87 CC-ET 7.0 $38.11 CC-MHX 8.0 $79.53 CC-X 8.0 $15.61 M-C2/C-COR 1 4.0 $66.58 DC 37D2012 5.3 $19.30 CC-X 8.0 $19.76 CR20-C20/R20 17.0 $66.79 CC-MHX 5.0 $70.81 DC 9D2015 5.0 $22.55 CC-X 8.0 $33.93 CC-X 8.0 $30.75 CC-X 8.0 $52.65 MH 2 5.0 $74.54 CC-EMU 6.7 $13.57 CC-X 5.0 $23.27 DC 34D2013 4.0 $84.95 DC 34D2013 4.0 $66.53 4.0 $71.65 CC-X 8.0 28.35 (*) CC-X 8.0 35.35 (**) MH 1 4.0 $75.53 CC-MH 5.0 $55.69 DC 952008 5.0 $46.15 DC 53Z95 8.0 $22.79 CC-EMU 6.7 $21.14 DC 952008 10.6 $35.42 CC-X 8.0 $37.99 DC682008 7.0 $41.56 CC-EPR 7.0 $23.31 CC-X 8.0 $32.31 CC-EMU 6.7 $23.92 $44
Bonus $30.68 $26.53 $46.35 $28.72 $57.34 $34.48 $61.69 $19.07
$21.84 $60.67 $50.89 $31.29 $29.17 $43.77
$31.63 $44.92
$30.20 $24.56
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39
700Wi l l ow Br ookRoadNW 104Mac Kenz i eWaySW Ki ngs v i ew 100Chi nookWi ndsPl ac e Hear t l and Reds t one Reds t one2 1540Sher woodBl v dNW 2500Capi t olHi l lCr esNW 1520-16Av eNW 215-16Av eNE 3380Spr uc eDr i v eSW 1701-33StSW 10317Av eSE 14021408-9Av eSE 1001-8StSE 6957-16Av eSE Ches t er mer e 210590Av eSW 200Quar r yP ar kBl v dSE 20Aubur nBayStSE L egac y 620Cent r eSt ,Hi ghRi v er St adi um Set on Sky v i ew Appl ewoodVi l l age SkyP oi nt e 1802-11StSE Gat eway Women' sShel t er 17Av eNW @ 6StNW 2110Cent r eStN 2101-34Av eSW 6Ki ngs v i ew RoadSE,Ai r dr i e 3645SageHi l lDr i v eNW 123413-37StNW 203Hear t l andAv enue Beac onHei ght s
1.Bent al l ,171Uni t s 2.TheMet r opol i t an,430Uni t s 3.ConnaughtDev el opment ~ 390, 000s q. f t . 4.St el l a,Nov a,L una,567Uni t s 5.Vant ageP oi nt e,354Uni t s 6.Aur aI&I I ,304Uni t s 7.As t or i a,450Uni t s 8.Mar kon10t h,274Uni t s 9.MountRoy alRedev el opment , 118, 008s q. f t . 10.Dr ake,135Uni t s 11.Smi t h,129Uni t s 12.Sut t onPl ac e,TBD 13.Al ber t aBootT ower ,250Uni t s 14.Mar i otHot el ,360Rooms 15.6t handT ent h,230Uni t s
16.Pl ac eT enWes t ,300, 000s q. f t . 17.Pl ac eT enEas t ,316, 000s q. f t . 18.Cent r e10,367, 895s q. f t . 19.Pr oCur a-Gr ande,200Uni t s 300, 000s q. f t 20.L i v i ngs t onBui l di ng,44, 000s q. f t . 21.Genc o1108T ower , ~190, 000s q. f t . 22.Mapl ePr oper t i es ,137Uni t s 23.Cal l a,168Uni t s 24.P ar kP oi nt ,30+ Fl oor s 25.Fai r f i el dI nn&Sui t s ,124Rooms 26.TheP ar k,156Uni t s 27.11t hAv enuePl ac e,198, 200s q. f t . 28.Bent al l ,218Uni t s 29.P al l i s erSout h,200, 474s q. f t . 30.Mus t ar dSeed,224Uni t s
31.Wex f or d,~1, 000, 000s q. f t . 32.Ronmor e,~225, 000s q. f t . 33.Bent al-T r ans Al t aSi t e ~120, 000s q. f t . 34.Al ur a,277Uni t s 35.Ci dex ,~98, 000s q. f t . 36. SkyT ower ,220Uni t s 37.Key not eI V ,340, 000s q. f t .
38.Cur t i sBl oc k,205, 000s q. f t . 39.St ampedeSt at i onI I 315, 450s q. f t . 40.Renai s s anc eCl ubSpor t ,192r ooms 41.Guar di an,640Uni t s 42.Ups i deEngi neer i ng,65, 900s q. f t . 43.Bi s c ui tBl oc k,54, 000s q. f t . 44.TheOr c har d,~485Uni t s
Devel opmentPar c el s
Exi s t i ng+ Fut ur eBui l di ngs/Par ks
P ar c elB 40, 135SF ,F AR7. 0,L andus eby l aw CCET
P ar c elM1P FRAM+Sl okkerDev el opment s
P ar c elC ShopsatEV
P ar c elNQ FRAM+Sl okkerFut ur ePhs ai ng
P ar c elE 66, 000SF ,F AR7. 0 CCET
P ar c elM2 10, 872SF ,CCEMU,F AR2. 5
P ar c elF G Embas s yBos aDev el opment s
P ar c elR 24, 000SF ,Far5. 656. 65
P ar c elK 121, 846SF ,F AR6. 0 CCEI R
Bl oc k‘ 39’ 63162,F AR7. 0
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Calgary Apartment Rental Survey Name
Year Built
Address
Appl.
Utilities
Bed
Bath
Size
$/sq ft
Jan.29 2014
$/sq ft
Feb.12 2015
$/sq ft
Aug.17 2015
$/sq ft
2
2
1006
July.24 2013
$0.00
$1,795.00
$1.78
$1,725.00
$1.71
$1,745.00
$1.73
1
1
716
$0.00
$1,350.00
$1.89
$1,350.00
$1.89
Parking
D.D.
City Centre Kensington Gate
1991
80 Units
5
Inc. Heat/Water
Sable
The Carrington 79 Units
100 10A Street NW
1017 11 Avenue SW 2001
6
Inc. Heat/Water
Canadian Urban Limited.
2
1
950
1+Den
1
860
1000 800
$1,320.00
$1.39
$1,375.00
$1.45
$1,600.00
$1.68
$1,600.00
$1.68
U‐125.00
$1,200.00
$1.40
$1,225.00
$1.42
$1,500.00
$1.74
$1,500.00
$1.74
S‐75.00
1Mo
Start Price Downtown SW Location Name withheld
6
Discovery 225 Units
1121 6th Aveune SW 2003
Panorama Court 63 Suite
5
Inc. Heat/Water
2
2
1024
$1,950.00
$1.90
$1,900.00
$1.86
$1,900.00
$1.86
Included
1+Den
1
754
$1,650.00
$2.19
$1,575.00
$2.09
$1,525.00
$2.02
in rent
2
2
861
$1,750.00
$2.03
$1,750.00
$2.03
$1,700.00
$1.97
$1,750.00
$2.03
Vertica
1
1
667
$1,500.00
$2.25
$1,500.00
$2.25
$1,550.00
$2.32
$1,500.00
$2.25
617‐15th Ave SW
2
1
750
$1,450.00
$1.93
$1,525.00
$2.03
$1,500.00
$2.00
$1,400.00
$1.87
1
1
575
$1,220.00
$2.12
$1,250.00
$2.17
$1,300.00
$2.26
$1,100.00
$1.91
1977
Vertica
3
Inc. Heat/Water
700 9 St SW
5
Inc. Heat/Water
1971
Boardwalk
O'Neil Tower 187 Units
Inc. Heat/Water
2005
2
1
758
1
1
650
$1,479.00
$1.95
$1,489.00
$1.96
$1,469.00
$1.94
$1,339.00
$1.77
$1,159.00
$1.78
$1,229.00
$2.04
$1,199.00
$1.84
$1,099.00
$1.69
1 Mo
1Mo
1 Mo
N/A
699
Start Price London House 383 Units
505 4 Ave SW 1900
Rexcourt
1973
Bentley Investments
Garden Towers 219 Units
909 7 Ave SW
Pentland Place 154 Units
924 7 Ave SW 1900
Calgary Place 1972
Realstar
1977
Hollyburn
815 4 Ave SW
Hull Estates
1200 ‐ 6th Street SW 1972
5
Inc. Heat/Water/El
Inc. Heat/Water/El
5
Inc. Heat/Water
5
Inc. Heat/Water/El
Capreit
609 8 St SW
Princes' Island Place 290 units
5
5
2
Inc. Heat/Water
Inc. H/W/El
Bentall Kennedy
2
1
820
$1,450.00
$1.77
$1,450.00
$1.77
1
1
616
$1,200.00
$1.95
$1,150.00
$1.87
2
1
840
$1,650.00
$1.96
$1,650.00
$1.96
$1,475.00
$1.76
1
1
680
$1,375.00
$2.02
$1,375.00
$2.23
$1,150.00
$1.69
2
1
860
$0.00
$1,700.00
$1.98
$1,500.00
$1.74
$1,425.00
$1.66
1
1
640
$1,250.00
$1.95
$1,250.00
$1.95
$1,175.00
$1.84
$1,175.00
$1.84
2
1
880
$1,400.00
$1.59
$1,475.00
$1.67
$1,375.00
$1.56
1
1
640
$1,100.00
$1.72
$1,100.00
$1.72
$1,125.00
$1.76
1 Mo
$125.00
1 Mo
S‐125.00
1 Mo
1Mo
2
1
800
$1,625.00
$2.03
$1,600.00
$2.00
$1,650.00
$2.06
$1,400.00
$1.75
1
1
560
$1,350.00
$2.41
$1,375.00
$2.50
$1,200.00
$2.14
$1,150.00
$2.05
$125.00
2
1.5
1109
$1,400.00
$1.26
$1,676.00
$1.70
$1,610.00
$1.45
$1,900.00
$1.71
U‐175.00
1
1
771
$1,239.00
$1.61
$1,351.00
$1.75
$1,300.00
$1.69
$1,400.00
$1.82
S‐105.00
1 Mo
1Mo
Start Price AVG 2 Bed 888
$1,547.40
$1.51
$1,457.73
$1.69
$1,425.40
$1.66
$1,569.00
$1.76
AVG 1 Bed* 677
$1,322.67
$1.85
$1,319.25
$2.15
$1,333.22
$2.03
$1,272.40
$1.91
Suburban SW Somerset ‐ 83 Units
2000
7000 Somervale Court SW
5
Inc. Heat/Water
Weidner
Lakeview Mews 124 Units
2528 66 Avenue SW 1973
The Pinnacle 287 Units
9600 Southland Circle SW 1983
Spruce Ridge Gardens
Inc. Heat/Water
5
Inc. Heat/Water/El
Morguard
3380C Spruce Dr SW 1953
5
Bentall Kennedy
6
Inc. Heat/Water
3
Inc. Heat/Water/El
Boardwalk
2
1
918
$1,595.00
$1.74
$1,540.00
$1.71
$1,450.00
$1.58
$1,590.00
$1.73
U‐75.00
1
1
772
$1,330.00
$1.72
$1,330.00
$1.23
$1,370.00
$1.77
$1,360.00
$1.76
S‐50.00
2
1
740
$1,330.00
$1.80
$1,155.00
$1.56
$1,380.00
$1.86
1
1
575
$1,220.00
$2.12
$1,050.00
$1.83
$1,275.00
$2.22
1000
2
1
916
$1,750.00
$1.91
$1,750.00
$1.91
1
1
700
$1,200.00
$1.71
$1,350.00
$1.93
Included
2
1
945
$1,379.00
$1.46
$1,859.00
$1.96
$1,699.00
$1.80
$1,799.00
$1.90
U‐35
1
1
700
$1,179.00
$1.68
$1,669.00
$2.20
$1,469.00
$2.10
$1,499.00
$2.14
S‐25
699
1
1
790
$1,200.00
$1.52
$1,325.00
$1.68
$1,500.00
$1.90
$1,400.00
$1.77
2
2
1040
$1,450.00
$1.39
$1,600.00
$1.54
$1,350.00
$1.30
$1,200.00
$1.15
U‐75.00
1Mo
$1,250.00
$1.50
$1,250.00
$1.92
$1,100.00
$1.69
in rent
1 Mo
Start Price Glenmore Gardens 350 Units
2105 90th Ave SW 1975
Realstar
1975
Vertica
Stanley Park 180 Units
4637 Macleod Trail
Elta at Glenmore Gardens
2160 Paliswood Road SW 2014
Vivenda56 2014
4
Vivenda Group
8880 Horton Road SW 2008
5
Inc. Heat/Water
Inc. Heat/Water
Vertica
5656 3rd Street SW
London at Heritage Station
3
6
Westcorp
H/W/E
2
1
835
$1,250.00
$1.50
$1,175.00
$1.41
1
1
650
$1,125.00
$1.73
$1,050.00
$1.62
2
1
966
$1,795.00
$1.86
1
1
619
$1,495.00
$2.42
2
1
$1,450.00
1Mo
U‐125.00 1Mo
U‐125.00
$35.00 / month
1
1
Not Included
2
1
1035
$1,700.00
$1,250.00
$1.64
1Mo
$50‐150/Month
1
1
759
$1,500.00
$1.98
AVG 2 Bed 912
$1,438.17
$1.65
$1,200.67
$1.40
$1,268.43
$1.41
$1,569.14
$1.73
AVG 1 Bed 729
$1,268.17
$1.63
$1,091.50
$1.39
$1,160.67
$1.65
$1,343.43
$1.86
U‐120.00
1mo
Suburban SE The Pointe at Applewood 236 Units
2003
1620 70 St SE Weidner
5
Not Elec
2
1
831
$1,380.00
$1.66
$1,405.00
$1.84
$1,625.00
$1.96
$1,350.00
$1.62
U‐80.00
1
1
605
$1,135.00
$1.88
$1,160.00
$2.01
$1,205.00
$1.99
$1,194.00
$1.97
S‐35.00
1000
The Gala 130 Units
6957 16th Ave SE
6
Not Elec
2012
The Laurier
100 Quarry Villas SE 2013
Minto
6
2
1
770
$1,495
$1.94
$1,525.00
$1.98
$1,695.00
$2.20
$1,495.00
$1.94
1
1
600
$1,275
$2.13
$1,345.00
$2.24
$1,425.00
$2.38
$1,275.00
$2.13
Included in rent
2
1
836
$1,800
$2.15
$1,800.00
$2.15
$1,800.00
$2.15
$1,599.00
$1.91
U‐120.00
1
1
551
$1,350
$2.45
$1,450.00
$2.63
$1,375.00
$2.50
$1,349.00
$2.45
S‐75.00
1Mo
AVG 2 Bed
$1,558.33
$1.92
$1,576.67
$2.29
$1,706.67
$2.10
$1,481.33
$1.83
AVG 1 Bed
$1,253.33
$2.15
$1,318.33
$2.29
$1,335.00
$2.29
$1,272.67
$2.18
1Mo
1Mo
Suburban NW Edgecliffe Estates 252 Units
3400 Edenwold Heights NW
Varsity Square Apartments
4515 Varsity Drive NW 1977
Varsity Place Apartments
Patrician Village
Vista View
Inc. Heat/Water
2
Inc. Heat/Water
3
Inc. Heat/Water
Boardwalk
5204 Dalton Drive NW
4
H/E/W/C
1983
Kaliedoscope
2505 24th Street NW 2012
Treo at Beacon 165 Units
2
Boardwalk
1919 University Drive NW 1979
70 Units
Inc. Water
Boardwalk
3607 ‐ 49 Street NW 1977
192 Units
5
2008
3
Gas/Water
6
Inc. Heat/Water
Birchwood
1540 Sherwood Blvd. NW 2012
2
2
940
$1,400.00
$1.49
$1,500.00
$1.60
$1,500.00
$1.60
1
1
710
$1,200.00
$1.69
$1,250.00
$1.76
$1,250.00
$1.76
$60.00
2
1
700
$1,299.00
$1.86
$1,349.00
$1.93
$1,399.00
$2.00
$1,499.00
$2.14
G‐60
1
1
660
$1,049.00
$1.59
$1,099.00
$1.67
$1,309.00
$1.98
$1,309.00
$1.98
S ‐45
699
2
1
840
$1,289.00
$1.53
$1,329.00
$1.58
$1,439.00
$1.71
$1,439.00
$1.71
1
1
484
$899.00
$1.86
$939.00
$1.94
$1,039.00
$2.15
$1,039.00
$2.15
S‐30
699
2
1
825
$1,359.00
$1.65
$1,399.00
$1.70
$1,299.00
$1.57
$1,299.00
$1.57
U‐60
1
1
650
$1,159.00
$1.78
$1,239.00
$1.90
$1,219.00
$1.88
$1,139.00
$1.75
S‐30
699
2
868
$1,400.00
$1.61
$1,400.00
$1.61
$1,500.00
$1.73
$1,500.00
$1.73
1
654
$1,200.00
$1.83
$1,200.00
$1.83
$1,250.00
$1.91
$1,250.00
$1.91
$60.00
1Mo
U‐150.00
1Mo
U‐80
1Mo
2
1
576
$1,400.00
$2.43
$1,495.00
$2.60
$1,400.00
$2.43
$1,190.00
$2.07
1
1
386
$1,100.00
$2.85
$1,195.00
$3.09
$1,100.00
$2.85
$1,020.00
$2.64
2
2
893
$1,500.00
$1.68
$1,495.00
$1.67
$1,500.00
$1.68
1
1
624
$1,300.00
$2.08
$1,300.00
$2.08
$1,325.00
$2.12
AVG 2 Bed 852
$1,378.14
$1.75
$1,162.00
$1.57
$1,433.14
$1.90
$1,418.14
$1.79
AVG 1 Bed 644
$1,129.57
$1.96
$1,134.40
$2.09
$1,209.57
$2.09
$1,190.29
$2.05
Airdrie Kings Heights
2014
192 Units
Airdrie Place
2014
4 Buldings 299 Units
Copperstone Village 97 Units
20 Kingsland Close
5
Inc. Heat/Water
Highstreet
100 Chinook Winds Place SW
6
Inc. Heat/Water
7
Not cable
Realstar
2012
104 Mackenizie Way Torode
2
2
853
$1,450.00
$1.70
1
1
617
$1,300.00
$2.11
1 + Den
1
726
$1,400.00
$1.93
1
1
602
$1,200.00
$1.99
$1,285.00
$2.13
S‐25.00
2
1
997
$1,700.00
$1.71
$1,500.00
$1.50
U‐75.00
1
1
669
$1,400.00
$2.09
$1,300.00
$1.94
S‐ Free
Price stayed the same Price up from previous Price down from previous
Appliances: washer, dryer, garburator, fridge, stove, dishwasher, microwave
Included in rent
$1,500.00
$2.07
AVG 2 Bed
$1,425.00
$1.81
$1,500.00
$1.79
AVG 1 Bed
$1,250.00
$2.05
$1,292.50
$2.04
1Mo
U‐50.00 1Mo
1Mo
cost valuation method Residual land value approach A cost approach is a real estate valuation method that surmises that the price someone should pay for a piece of property should not exceed what someone would have to pay to build an equivalent building. In cost approach pricing, the market price for the property is equivalent to the cost of land plus cost of construction, less depreciation. It is often most accurate for market value when the property is new. three methods of valuation Cost approach is one of three popular valuation methods for real estate; the others are the income approach and the comparables approach. The cost approach methodology requires certain assumptions, such as the availability of land. If land is not available to build on then it is not possible to substitute existing property. Additionally, the method does not address whether an exactly equivalent structure must be built, or if the cost of an equivalent building can be effectively estimated. cost valuation example Memorial Drive ‐ Proforma Summary Budget
Cost/Suite
52,923,000 ‐ ‐ ‐ $52,923,000
601,397.73 ‐ ‐ ‐ 601,398 Cost/Suite 88
600.00 ‐ ‐ ‐ 600.00 Cost/GFA 105,000
Land and Land Related Costs Land Levies
9,975,000 106,600
113,352.27 1,211.36
95 1.02
Hard Costs Construction Total Hard Costs
‐ ‐ 23,520,000
‐ ‐ 267,272.73
‐ ‐ 224
Soft Costs Consultants + Development Marketing Commissions Total Soft Costs
‐ ‐ 675,000 1,058,460 6,300,000
‐
‐
7,670.45 12,027.95 71,590.91
8 12 60
Lease‐up Contingency Interest Reserve Financing Fees
1,729,800 1,575,000 350,000
‐ 19,656.82 17,898 3,977.27
‐ 16 15 3
$43,449,800
493,748
414
107,650.00 ‐ ‐ 22% Per Suite
90.22 ‐ ‐ 22% Per GFA
Project Statistics Total Units Proposed
88
Site Size SF
88,205
Avg. Proposed Unit Size SF
1,000
Total Saleable Area SF (TSA)
88,205
Total Saleable Area (Commercial)
0
Projected Expenses
Construction Area / SF (Total)
105,000
Gross Floor Area / SF (Total)
105,000
Avg. Sale Price/p.s.f. (Res)
600
Avg. Sale Price/p.s.f. (Commercial)
0
Avg. Unit Price (Res)
$601,397
Efficiency
84.0%
Parking Stalls
100
Parking Purchase
0
Suite Sales Parking Sales Storage Lockers GST Total Revenues
Total Costs Summary Project Profit (excl recoveries) Recoveries on Closing Project Profit (incl recoveries) Margin (excl recoveries) Capital Structure
M ulti- F amil y & L an d G r oup
9,473,200 ‐ 9,473,200 22% Budget
Cost/TSA 88 88,205
PROFESSIONAL PROFILE
Investment Sales, Multi-Family and Land HARVEY RUSSELL Vice President, Multi-Family & Land Tel: 403.750.0525
Email: harvey.russell@cbre.com
Harvey Russell joined CBRE Limited in 1993 to initiate and successfully lead the multifamily and land group. The results quickly garnered him a Vice President title in 1995. From mentoring off the senior brokers in the industry and assimilating their practices, Harvey set out to develop a brokerage model that would produce guaranteed results. An extensive data base was established that included all local and most national vendors and purchasers. This data base was critical to the goal of achieving maximum and wide spread market coverage. A strong emphasis on market research resulted in sustained and ongoing market surveys, reports and valuations. The brokerage model was completed by a high commitment to hard work and professionalism. PRIOR EXPERIENCE (2002 - 2009) For seven years Harvey worked as a principal with a large condominium development company. His responsibilities included the acquisitions of sites, municipal planning, design, marketing, budgeting, tendering and construction management. The knowledge and insight gained from this experience has been immensely beneficial in working with land offering mandates. His overall comprehension of the industry enhances his ability to pilot a prospective buyer through the sales process. SALES RECOGNITION • Twice the Top Broker CBRE - Alberta • Once - Top 10 Broker CBRE - Canada 1990 to 2004 Transacted $1 BILLION of real estate trades - 1,000’s of apartment units and several residential land sites. Properties located in; BC, AB and SK 2002 to 2009: Pointe of View Developments Inc. - Vice President / Principal, Toronto • Responsible for all development activity for Pointe of View in Eastern Canada • Responsibilities included conducting all site acquisitions, municipal planning, building design, marketing, budgeting, contract tendering, construction management, and leading all financial analysis • Hired and supervised all consultants and contractors. Completed all financial reporting to head office in Calgary • Facilitated seven multi-family condominium developments totaling 1,300 units in the G.T.A. 2010 to 2016 • Sold 43 multi-residential sites in Calgary and Edmonton. The land uses include high density inner-city, medium density inner-city, suburban mid-rise and townhouse density
PROFESSIONAL PROFILE COMPLETED TRANSACTIONS • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •
YWCA Site Seton Skypoint Kincora Lethbridge Seton Seton Kensington Edmonton Trail Falconridge 35th Avenue Patterson Point 10th Avenue SW 4th Avenue NE McConachie Edmonton Airdrie - Bay Springs Marda Loop Memorial Drive 5th Ave NW 14th Avenue SW 11th Avenue SW 11th Avenue SW Aspen Sherwood Airdrie Altadore Kincora Father Lacombe Midtown Crescent Heights 17th Ave SE Oliver Village, Edmonton Stratton Oaks Lake Chestermere Auburn Bay Auburn Bay Copperfield 626 – 14th Avenue SW 620 - Edmonton Trail NE 101 - 121 19th Street NW 1734 - 1738 9th Street SW West Springs Kincora
$48.8M – 2.3 Acre High Density Multi Site $3.9M – 2.1 Acre Medium Density Multi Site $7.4M – 4.4 Acre Medium Density Multi Site $6.6M – 4.5 Acre Senior Site $13.4M – 156 Unit Townhome Community $55M – 349 Acre Low Density Single Family Site $5.2M – 3.9 Acre Senior Site $1.8M – 5,297 SF High Density Multi Site $2.8M – 22,521 SF Medium Density Multi Site $20M – 112 Unit Townhome Community $1.2M – 13,577 SF Medium Density Multi Site $6.5M – 4.9 Acre Medium Density Multi Site $23.2M – 37,750 High Density Multi Site $1.5M – 27,443 SF Medium Density Multi Site $3.2M – 4.4 Acre Medium Density Multi Site $4.1M – 6.08 Acre Medium Density Multi Site $5.4M – 45,648 SF Medium Density Multi Site $10M – 42,000 SF Medium Density Multi Site $10M – 33,100 SF Medium Density Multi Site $4.4M – 29,105 SF Medium Density Multi Site $7.1M – 29,250 SF High Density Multi Site $30M – .97 Acre High Density Multi Site $8.1M – 9.2 Acre Low Density Single Family Site $6.1M – 5.8 Acre Medium Density Multi Site $5.3M – 8.5 Acre Medium Density Multi Site $1.4M – 45,648 SF Medium Density Multi Site $4M – 3.5 Acre Medium Density Multi Site $4M – 3.4 Acre Senior Care Land Site $40M – 47,578 SF High Density Multi Site $2.6M – 41,918 SF Medium Density Multi Site $4.2 M – 45,648 SF Medium Density Multi Site $58M – 306 Unit Apartment $7M – 45 Unit Apartment $6.5 – 10 Acre Medium Density Multi Site $3.3M – 3.3 Acre Medium Density Multi Site $4.3M – 3.3 Acre Senior Housing $3.4M – 4.5 Acre Multi Site $4.5M – 26,050 SF High Density Multi Site $4.7M – 47,916 SF Medium Density Multi Site $2.5M – 33,893 SF Medium Density Multi Site $2.1M – 19,580 SF Medium Density Multi Site $4.2M – 4.8 Acre Medium Density Multi Site $7.2M – 8 Acre Medium Density Multi Site
CORPORATE PROFILE Our Canadian Company In 1983, CBRE began operations in Canada, under the name Coldwell Banker Canada Inc. The first office was established in downtown Toronto, followed shortly by the launch of offices in North Toronto and Vancouver. By 1994, the company had become a national corporation with offices in major cities across the country. Since then, the company has opened additional offices and expanded the scope of its operations to include Asset Services, Brokerage Services, Corporate Services, Valuation & Appraisal, Mortgage & Financial Services, Research and Consulting Services. In 2001, the company turned its attention to facilities management and corporate real estate opportunities in Canada, by forming a joint venture with O & Y Enterprises. In 2004, a 100% interest was acquired and CB Richard Ellis Management Services was established with the mandate to provide comprehensive real estate services for some of Canada’s best known corporations and most prestigious addresses. In 2005, CBRE was identified as one of the top corporate cultures in Canada by corporate recruiting firm Waterstone Human Capital and continues to hire the best young talent. By 2006, CBRE acquired The Trammell Crow Company. The acquisition expanded CBRE’s leadership and strengthens its ability to provide integrated account management and comprehensive real estate services for corporate, institutional, health care and government clients. In 2007, CBRE became the first real estate services firm to announce plans to be carbon-neutral by 2010, including CBRE's major initiative to assist clients with energy efficiency programs at the 1.7 billion square feet of building space that the company manages around the world. 2007 also saw CBRE named one of the 50 “best in class” companies and among the top 40 "most generous" companies by BusinessWeek, as well as ranked 33rd in Fortune's List of 100 Fastest Growing Companies Today, CBRE Limited employs over 1,800 people in 24 offices from coast to coast. Our Global Company CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2010 revenue). The Company has approximately 31,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Our corporate values - RISE Our corporate values are the foundation upon which our company is built. These values are timeless and transcend all markets, service lines, languages and business cultures. RESPECT Treat everyone with dignity, value their contributions, and help one another succeed. INTEGRITY Uphold the highest ethical standards in our business practices. SERVICE Dedicate ourselves to making a meaningful impact with our clients and in our communities. EXCELLENCE Aspire to be the best in everything we do and drive for continuous improvement.