investment opportunity - cwed.reapplications.com...excellent investment opportunity to acquire a +/-...

INVESTMENTOPPORTUNITY

FOREST HEIGHTSMULTI-FAMILYDEVELOPMENTSITE

7730 101 AVENUEEDMONTON, AB

Cushman & Wakefield Edmonton is independently owned and operated / A Member of the Cushman & Wakefield Alliance. No warranty or representation express or implied is mad to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property for properties in question. Dec. 17 2019

Cushman & Wakefield EdmontonSuite 2700, TD Tower10088 102 AvenueEdmonton, AB T5J 2Z1 cwedm.com

Adrian AmbrozukAssociate Partner 780 733 6406 [email protected]

Kyle BartonAssociate 780 733 6409 [email protected]

Brandon KuhnAssociate 780 916 9671 [email protected]

OFFERINGHIGHLIGHTS

Forest Heights Multi-Family Development Site presents an

excellent investment opportunity to acquire a +/- 1.36 Acre (59,242 SF)

parcel prime for a seniors housing/assisted living development to an

underserviced market with ever growing demand.

The Property consists of an unimproved and fenced parcel,

with the previous structure on site having been recently demolished,

and is located within the central community of Forest Heights in

Edmonton.

-

size±1.36 Acres

59,242 SF

zoningSite Specific Direct

Control (DC2)

far6.0

height7-16 Storeys

density300 Units; minimum of 70

units to be assisted living

commercial2,152 SF Total

parkingMinimum of 178 underground

spaces, as per current zoning bylaw

legal descriptionPlan 1221538, Block 4, Lot 1A

property taxes (2019)$29,220.29 (estimate)

LOCATIONOVERVIEW

Located on an attractive ravine site in a desirable central location

(10 minute drive to downtown, 10 minute drive to Anthony Henday

Ring Road)

Subject property is located in the heart of some of Edmonton’s oldest

residential neighborhoods.

Majority of homes were built in 1950’s and population is aging

(4,000+ residents over the age of 75).

Site provides a rare, large-scale high-density infill development

opportunity

Located with nearby proximity to both Capilano Mall (2 km) and

Bonnie Doon Mall (3 km), home to an aggregate of over 120 retailers

Site serviced by public transit with numerous bus stops along 101

Ave adjacent to the property, as well as LRT with the forthcoming

Southeast Valley LRT Line currently under construction 2KM away

Within a 15 minute drive to two hospitals; Royal Alexandra Hospital

and University of Alberta Hospital

Many green spaces surround the area, including Capilano Ravine

adjacent to the site

Great accessibility to all major freeways and arterials roadways in

Edmonton

AERIAL

A

B

CD

EF

A capilano mall• safeway

• walmart

• restaurants & pubs

• coffee shops

• gas stations/convenience stores

• medical

• bank

• professional servicesB

• rexall pharmacy

• dental

• medical

• restaurants

C • grocery

• restaurants & pub

• coffee shop

• medical

• pharmacy

• gas station/convenience store

• bankD

• shoppers drug mart

• medical

• dental/denture clinic

• coffee shops/restaurants

• convenience store

• bank

• professional services

E • medical

• dental


• grocery & bakery

• restaurant

F

F

F

F

F

F

F

F

F • religious assembly

bonnie doon shopping centre

• safeway

• shoppers drug mart

• restaurants & pubs

• coffee shops

• gas station/convenience

• medical

• bank


* 3 km south-west

DEMOGRAPHICS

Overall demand for seniors housing units in Alberta increased by 4.0% in 2019

Vacancy rate for heavy care spaces in Alberta: 7.4 %

ALBERTA SENIORS HOUSING STATISTICS

VACANCY RATE FOR STANDARD

SPACE RETIREMENT HOMES

Edmonton Calgary Total

9.7% 15.0% 13.8%

TOTAL NUMBER OF SUITES IN THE

UNIVERSE (ALBERTA)

Edmonton Calgary Total

5,462 (38%) 4,878 (34%) 14,248 (100%)

SENIOR RENTAL RATES ALBERTA

Average Rent

Standard Spaces

Average Rent

Heavy Care Spaces

Edmonton $2,794 $5,854

Calgary $4,016 $4,878

Alberta Total $3,258 $5,029

* all figures provided for 2019, CMHC Senior’s Housing Report Alberta 2019

44,274 people living with a ± 2.5 km radius

Of which 4,067 are 75 years old or over (9.2%)

Additional 3,678 people aged 65-74 (8.3%)

Annual Income

40.9% of household above $100,000.00 per year

20.7% of households above $150,000.00 per year

12 seniors rental facilities currently operating with ±2.5 km radius of site totaling 1,022 units

Of those 12 facilities only 2 built since 1997 totaling 254 units

75% of units (768) in buildings built in 1982 or prior

No free-market rentals in ±2.5 km radius, all 12 buildings are not-for-profit

LOCAL SENIORS HOUSING STATISTICS

* all figures a 2019 estimate

1

2

3

4

5

6

7

8

9

10

11

12

1. st andrews ukranian selo

8025 101 Avenue/Built: 1977

2. capital baptist manor


3. good samaritan place

8425 83 Street/Built:1982

4. bethel senior citizens residence


5. montgomery place

9420 92 Street/Built: 1982

6. golden homes

8016, 8053 95 Avenue

& 9509 81 Street

Built: 1954

LOCAL SENIORS HOUSING FACILITIES

7. ottewell place

6207 92 Avenue

Built:1962

8. grace garden court


9. gateway manor


10. st. nicholas


11. ottewell terrace


12. covenant care st. thomas

8411 91 Street/Built: 1997

SITE

The Property is being offered to the market with no asking price.

The Vendor is calling for all Offers or Expressions of Interest for the property to be submitted. All inquiries

and expressions of interest for the acquisition of the Property should be directed to Cushman & Wakefield

Edmonton as the Exclusive Agent for the Vendor.

Upon the execution of the Vendor’s form of Confidentiality Agreement (“CA”), qualified

prospective purchasers will be provided with access to additional detailed information. The Vendor

reserves the right to deal with Offers received on a first submission basis and encourages all interested

purchasing parties to submit their formal interest upon review of the confidential information.

THE OFFERING

cwedm.com

Adrian AmbrozukAssociate Partner

780 733 6406 [email protected]

Kyle BartonAssociate


Brandon KuhnAssociate


investment opportunity - cwed.reapplications.com...excellent investment opportunity to acquire a +/-...

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