Regal Arms Apartments

Property Description

Regal Arms Apartments is situated in the centralized community of Westwood. The neighbourhood’s convenient location allows for easy access to the core of the city and is within a 10-minute drive to NAIT, Kingsway Mall, Royal Alexandra Hospital, MacEwan University, and the ICE District. Regal Arms is 1 KM from the NAIT LRT Line, providing its residents access to all corners of the city. The surrounding area continues to gentrify due to the on-going development of Blatchford, located just one street West of Westwood. Blatchford will feature over 80 acres of public parks and green spaces, public and Catholic schools, public plaza spaces, and will also add an additional LRT stop. Additional surrounding amenities includes Kingsway Mall, the second-largest mall in Edmonton, offering over 977,000 sq ft of retail space. The mall recently underwent significant renovations spanning 362,000 square feet including the addition of a Walmart Supercenter. Higher ownership costs and migration continues to accelerate demand for rental housing. The greatest beneficiaries of the increased demand are Edmonton’s urban core and surrounding neighbourhoods. Vacancy has continued to decline decreasing by 1.4% from Q3 2022 to Q4 2022 (Zonda Urban, 2023). Value for existing rentals is expected to increase as decreasing vacancy rates put upward pressure on existing rents.