17,000 ft²Land / Multifamily$1,600,000Sale
17,000 ft²
Land / Multifamily
$1,600,000
Sale
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The site, which is spread across two infill lots, is in the Grovenor neighborhood, which is conveniently close to Stony Plain Road—just five blocks south of it. There isn't much competition in the area for newly constructed apartment buildings. Notably, the location will be just a few minutes from the Valley Line, a new stop on the most recent LRT expansion route. With steady population growth year over year, neighborhood revitalization projects, and advancements in transit, there is a chance to profit from the revitalization of Edmonton's most historic communities.
The Property
Asking Price$1,600,000
Available Space17,000 ft²
NegotiableYes
Floor1
Property UseMulti family / Single family / Vacant or owner user
ZoningRS
SourceDirect
Bus Line
Transit Friendly
The Lot
Grovenor is home to some of Edmonton's wealthiest residents, with a median annual income of $145,786. In Edmonton, the median household income for 2022 was $97,800, according to Statstics Canada. The Grovenor and surrounding areas have a shortage of housing and higher average income, which presents builders with a great opportunity to meet the needs of potential tenants and gain market share. The future Valley Line West LRT, which will improve accessibility to the rest of Edmonton, is close to the property. Given how quickly Edmonton is growing, the West LRT extension is a necessary addition to the transit network. Nearby commercial developments include (within 10 mins drive: - West Block: provides 24,500 SF of commercial space and employs approximately 200 people - Jasper Gates Shopping Centre: provides 146,063 SF of retail space and employs approximately 600 people
Property TypeLand / Multifamily
Lot Size17,000 ft²
ZoningRS
Bus Line
Transit Friendly
Up to $500K for Alberta businesses
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