1 7 5 0 7 – 6 t h S t r e e t N W & 1 6 9 0 5 C e n t r e S t r e e t N W
C A L G A R Y, A L B E R T A
1 6 0 A C R E S R E S I D E N T I A L L A N D O P P O R T U N I T Y
REDUCED LIST PRICE: $8,800,000
Calgary
Airdrie
Cochrane
Chestermere
Balzac Kathyrn Keoma
8
2
201
1
1A
560
1A
22
8
1
CALGARY INTERNATIONAL
AIRPORT
CALGARY CORE DOWNTOWN
SUBJECT PROPERTY
THE OPPORTUNITY
Jones Lang LaSalle Real Estate Services, Inc. (“JLL”) is pleased to offer for sale 160 acres of future development land located at 17507 - 6 Street NW and 16905 Centre Street N (collectively, the “Property”). The Property is currently the subject of a Court Order. The List Price has now been reduced to $8,800,000. The Property is in two titles and totals approximately 160 acres.
INVESTMENT HIGHLIGHTS
The Property has many attributes that need to be highlighted:
• Located in Calgary, therefore residential development certainty is assured • Located within the North Sector of Calgary, which is one of Calgary’s primary
development corridors; which is expected to continue to secure 25% of all new home residential demand through the period 2019 to 2023
• Evidence as to the strength of the North Sector is apparent by Brookfield’s Living-ston subdivision and Apex/Genstar’s Carrington subdivision
• The Property has the potential to generate holding income from residential rent-al of the two houses, an agricultural lease for the current cattle and field opera-tions, and the existing oil and gas facility
17507 – 6TH STREET NW & 16905 CENTRE STREET NW, CALGARY, ALBERTA160 ACRES RESIDENTIAL LAND OPPORTUNITY
17507– 6TH STREET NW & 16905 CENTRE STREET NW, CALGARY, ALBERTA160 ACRES RESIDENTIAL LAND OPPORTUNITY
PROPERTY SPECIFICATIONS
17507 - 6th Street NW, Calgary
16905 Centre Street NW, Calgary
PROPERTY ADDRESS
17507 - 6th Street NW, Calgary
SITE AREA
+/- 120 acres
Land Use Designation
Portion of NE 9-26 1W5M Linc
0021 129 5640016 921 520
Legal Description
S-FUD Special Purpose –
Future Urban Development
TopographyUndulating
ServicesNone;
vacant farm land
PROPERTY ADDRESS
16905 Centre Street NW, Calgary
SITE AREA
+/- 40 acres
Land Use Designation
Portion of NE 9-26 1W5M Linc
0021 129 564
Legal Description
S-FUD Special Purpose –
Future Urban Development
TopographyUndulating
ServicesNone;
vacant farm land
CENTRE STREET N
176 AVENUE NW
LOCATION HIGHLIGHTS
17507– 6TH STREET NW & 16905 CENTRE STREET NW, CALGARY, ALBERTA160 ACRES RESIDENTIAL LAND OPPORTUNITY
DOWNTOWN CALGARY
CENTRE STREET N
176 AVENUE NW
22 MINS toDowntown Calgary
17507-6th St. NW & 16905 Centre St. NW,
Calgary, Alberta
18 MINS to Calgary International Airport
7 MINS to CrossIron Mills
Easy access toCentre Street
Easy access toCentre Street
SUBJECT PROPERTY
17507– 6TH STREET NW & 16905 CENTRE STREET NW, CALGARY, ALBERTA160 ACRES RESIDENTIAL LAND OPPORTUNITY
PLANNING OVERVIEW
North Regional Context StudyThis is the plan that guides future development in the area. As noted in the plan, the subject Property fall within a future residential community. While this will be considered a medium to long-term hold, this virtually guarantees that the Property will be developed in the future as residential housing. This is clear as evidence that this sector is in fact one of Calgary’s primary growth corridors. An additional key feature to the Property is the fact that a “Primary Transit Hub” is planned along its boundaries.
PLANNING OVERVIEW
Suburban Residential Growth (2019 - 2023)As noted in its report, The City of Calgary continues to forecast that the north sector will be the dominant residential growth corridor over the next 5 years, averaging 25% of all new housing construction and absorption. There are no planning or policy reasons why the north sector’s position, in front of all other growth corridors will change beyond this time frame.
Source: The City of Calgary Land Use Planning & Policy, North Regional Context Study Source: The City of Calgary Land Use Planning & Policy, Suburban Residential Growth 2019 – 2023
SE
NW
W
N
E
NE
S
C
North SectorUnits: 8,550 25%Population: 24,036Land: 357 ha
Northwest SectorUnits: 190 1%Population: 714Land: 14 ha
Northeast SectorUnits: 8,450 25%Population: 23,812Land: 351 ha
East SectorUnits: 370 1%Population: 982Land: 13 ha
West SectorUnits: 1,390 4% Population: 4,045Land: 101 ha
Southeast SectorUnits: 7,569 23%Population: 21,570Land: 362 ha
South SectorUnits: 6,470 20%Population: 19,218Land: 296 ha
SPH
13J
09P
01C
09O
13K
05G
WWO
03W
KSH
MAHAUB
12HSET
BVD
CRA
03D
12F
WSP
EVN
13G
LEG
SPH
WAL
LIV
13F
SKR
12B
CRM
SGH
01G
ASP
SAD
KCA
CSC
CNS
CAR
13D 12C
NOL
CPF
02L
YKV
PCK
02K
SVO
Existing Population by Sector2018 Civic CensusNorth SectorNortheast SectorEast SectorSoutheast SectorSouth SectorWest SectorNorthwest SectorCentre SectorTotal
160,592185,585
58,416135,318227,454124,544175,452199,983
1,267,344
Funding of city-size infr structure forthe partially/unserviced is identified in blue under One Calgary (2019-2022)service plan and budget and developer is responsible for developer-size infr structure.
Areas within approved area structure plans & serviced
These areas are partially serviced/unserviced as of 2018 December.
Forecast Estimates assume:Total Unit Growth: 32,989(6,598 units per year average)(4,106 single/semi and2,492 multi-units)
Population Growth: 94,370(18,874 people per year average)
Land Needs: 1,494 hectares(299 hectares per year average)
PLANNING OVERVIEW
Much of the land in this sector is either already serviced or partially serviced making this a highly desirable location to be developing in the medium to long term.
PLANNING OVERVIEW
Area – Ownership ProfileWhile not directly related to the planning framework set for the subject Property and its surrounding area, a key consideration to making this an attractive area for a long term land investment is the fact that the area is largely owned by large developers and residential builders. With the “un-fragmented” nature of the land holdings, this will allow logical and timely development in the area to proceed.
ENVIRONMENTAL OVERVIEW
There is a producing oil well near the northeastern corner of the parcel with a pump jack system, a propane tank and a single storage tank farm. Other facilities include the Cremona pipeline that passes through the northeastern tip of the parcel. The AEUB has no oil gas incident record registered at the subject parcel. A developmental set back is required around these facilities. Reclamation and site remediation of the well site and pipeline is the responsibility of the facility operators. They must be done in accordance to Alberta Environment guidelines and be satisfactory to the land owner before a reclamation certificate will be issues. A previous environmental assessment is identified the potential risk of significant environmental impact at the subject property as “moderate”. Issued to be considered include the feed lot area and runoff pathway at the southwestern corner of the parcel, fuel and oil storage areas, the mechanic service Quonset area, and the buried household waste pit.
17507– 6TH STREET NW & 16905 CENTRE STREET NW, CALGARY, ALBERTA160 ACRES RESIDENTIAL LAND OPPORTUNITY
Source: The City of Calgary Land Use Planning & Policy, Suburban Residential Growth 2019 – 2023
SUBJECTPROPERTY
Jayric Property Corp.
(Jayman)City of Calgary Walton Global
Investments Ltd.
Walton Global Investments Ltd. Rhodes
Mohinderpal
GoldmarkDevelopments
DynnNorth
Evans Lands
BrandonDynn
Carma Ltd.
Carma Ltd.Carma Ltd. Carma Ltd. Carma Ltd.
Carma Ltd. BCIMC
BCIMC
Albert Gerald Albert Gerald
SE
NW
W
N
E
NE
S
C
Serviced(all leading City infrastructure in place)
Partially Serviced(Some leading infrastructure in place , but not all five)
Unserviced(Will include Residential and Non Residential Uses)
Subject To ASP Approval(Will Include Residential AndNon Residential Uses)
Transportation Utility Corridor
JLL CAPITAL MARKETSjll.ca I 403-456-2233855 – 2nd Street SW, Suite 3900Calgary, AB T2P 4J8
KEN WESTHAVERJLL Capital Markets, CalgarySenior Vice President(403) [email protected]
RYAN MURPHY JLL Capital Markets, Calgary Senior Sales Associate (403) 456-5582 [email protected]
All inquiries regarding the Property should be directed to:
DISCLAIMER© 2019 Jones Lang LaSalle IP, Inc. All rights reserved. Information set out herein (the “Information”) has not been verified by Jones Lang LaSalle Real Estate Services, Inc., Brokerage and any and all of its real estate agents/staff, and to all other divisions of the company (collectively “JLL”). JLL does not represent, warrant or guarantee the accuracy, correctness and complete ness of the Information. Given the limitations of the investigations, inquiries and verification that JLL have undertaken, the reliability of this Information must be treated with a suitable degree of caution and neither JLL or any of their affiliates accept any liability or responsibility for the accuracy or completeness of the information contained herein and no reliance should be placed on the information contained in this document. JLL 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 JLL.
OFFERING PROCESS
The Property is currently the subject of a Court Order. The List Price has now been reduced to $8,800,000. The Property is being offered for sale by way of a conventional marketing process with offers being considered on a first come, first serve basis. Please be advised that further court approval of a proposed transaction will be required.