Address: 2801 43 Avenue, Stony Plain, Alberta, CA
Created date: February 12, 2024
Date last updated: February 12, 2024
- The Property comes with 1.88 acres of excess land, zoned for high-density residential use. The land provides future redevelopment opportunities, maximizing long-term value.
- Located in the fast-growing, secondary market of Stony Plain resulting in lower competition and predictable returns.
- Nearly 70% of the tenant base is comprised of individuals over the age of 65 resulting in below average tenant turnover.
- No new supply threats in the immediate area aside from the new Sunrise Vista development.
- Rental rates continue to trend upwards as supply in the area for larger, high quality units remains low.
- The Property is an excellent candidate for new CMHC MLI Select debt.
Entro Residential is located in the town of Stony Plain, a 40-minute drive from Edmonton’s downtown core. Stony Plain is located along the Trans-Canada Highway which forms part of the Port Alberta transportation hub. The town is home to a growing population with over 18,000 residents (2021). Stony Plain is ripe with opportunity with it’s focus on farming and expansion of Alberta’s energy and support service industry. Paired with the focus on Edmonton’s growth as an industrial hub, the affordable cost of living and abundance of job opportunities has resulted in a new wave of residents that find great appeal to living in the area. The Town of Stony Plain also boasts a higher than average median age compared to the rest of Alberta and is known for it’s larger population of seniors. This tenant demographic inherently provides additional yield stability.
The Property is within close proximity to amenities including restaurants, grocery, multiple schools, banks, and the local hospital. Stony Plain has over 1,000 active business licenses promoting the practice of supporting local businesses, fostering a strong and thriving local economy.