Under Developed Market In Chestermere
Development Opportunity for Luxury Living Awaits Just Outside Calgary.
Experience the perfect blend of urban convenience and serene natural beauty in one of the fastest-growing communities. A luxury condominiums built here will offer breathtaking views and upscale amenities, tailored for those seeking a sophisticated, maintenance-free lifestyle.
Welcome to Chestermere
Key Highlights of Our Property
Prestigious Location
Ideally situated in a coveted neighborhood, our property offers easy access to major routes, shopping, dining, and transit, ensuring convenience at your doorstep.
Strong Market Demand
With a growing appetite for high-end, lock-and-leave lifestyles, our site is perfect for boutique condos that appeal to professionals and downsizers. 4300 residents in Chestermere are over 55. In surrounding Rockyview there are another 22,000 over 55.
Design Potential
Our spacious site allows for an architecturally striking development with luxury amenities and premium finishes, promising top market value. There is no restriction on condo size, allowing larger, spacious units.
Investment Potential
Strategic Opportunity
This property presents a compelling investment opportunity in the burgeoning luxury condominium market. With a growing demand for upscale living spaces, this site is primed to attract discerning buyers seeking premium amenities and a prestigious address. The market absorption rates indicate a strong appetite for high-end, maintenance-free lifestyles, making this development a standout choice for investors looking to capitalize on the trend towards luxury urban living. View MLS Listing.
Current Rental Income
Revenue Details
The property currently generates a rental income of $65,000 annually. The existing tenants are on a month-to-month lease, providing flexibility for future development plans. This arrangement allows for a seamless transition to construction once the necessary notices are issued, ensuring that the property can be swiftly repurposed to maximize its potential as a luxury condominium site.
With a stable rental income stream, the property offers immediate financial returns while development plans are finalized. The month-to-month tenancy terms provide the owner with the agility to initiate construction with minimal delay, aligning perfectly with strategic investment timelines.
Investors can benefit from the current rental setup, which not only covers holding costs but also positions the property for a lucrative transformation into a high-demand residential development. The flexible lease terms are a significant advantage, facilitating a smooth transition to the next phase of property enhancement.
Zoning Regulations
Development Guidelines
The property is governed by the City of Chestermere’s Low Rise Multi-Unit Residential District (R-4) zoning regulations. This zoning designation supports the development of multi-family housing in the form of 3 to 4 storey apartment buildings, providing a diverse range of housing options within the community. The R-4 zoning allows for innovative architectural designs and the inclusion of luxury amenities, aligning with the demand for upscale living environments. This regulatory framework ensures that the development can proceed with a focus on quality and community integration, enhancing the overall appeal and value of the project.
Discover Your Next Investment Opportunity
Seize the chance to invest in a prime real estate development with unparalleled views and luxurious living. Contact Roger Ledene with RE/MAX Prestige Commercial today to learn more about this exclusive opportunity. Contact Roger Ledene at RE/MAX Complete 403-607-5811.
