Massey Harris Fergusen Block Urban Warehouse District Transit Oriented Redevelopment
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MASSEY HARRIS FERGUSEN BLOCK URBAN WAREHOUSE DISTRICT TRANSIT ORIENTED REDEVELOPMENT OFFERING PRICE: $23,625,000 ($350 PSF) PROPOSED SUBDIVISION DEVELOPMENT 104 AVENUE 122 123 122 123 162 1 163 162 163 OPPORTUNITY121 124 121 124 161 164 161 164 120 125 120 125 160 165 160 165 HIGHLIGHTS119 126 119 126 159 2 166 159 166 118 127 118 127 158 167 158 167 M.H.F.B. encompasses117 up to128 a total of 9 117lots 128 157 168 157 168 providing a total of 67,500 sq. ft. of contiguous 116 129 116 129 156 169 156 169 109 STREET 108 STREET 107 STREET 3 106 STREET 105 STREET redevelopment opportunity in the heart of the 115 130 115 130 155 170 155 170 Central Warehouse District. 114 131 114 131 154 171 154 171 M.H.F.B. is currently113 being subdivided132 into three113 132 153 172 153 172 approximate 22,500 sq. ft. separately titled 103 AVENUE parcels to allow developer flexibility. Sites may be purchased together112 or separately.133 112 133 152 173 152 173 111 134 111 134 151 174 151 174 Buyers will have the110 opportunity135 to utilize in-place110 135 150 175 150 175 zoning or undertake109 to rezone136 parcels to suit 109their 136 149 176 149 176 specific vision. The108 current zoning137 allows for 108a max 137 148 177 148 177 FAR of 16x and up107 to 1,300 units,138 which provides107 138 147 178 147 178 strong precedence106 for significant139 density potential.106 139 146 179 146 179 105 140 105 140 145 180 145 180 BLOCK 8 BLOCK 7 BLOCK 6 BLOCK 5 BLOCK 104 141 104 141 144 181 144 181 103 142 103 142 143 182 143 182 102 AVENUE EXECUTIVE SUMMARY CBRE Limited (“CBRE”) as an exclusive advisor to 104 Avenue Located on 106th Street stretching from 103rd Avenue to 104 th (Edmonton) Development Corp. (the “Vendor”), is pleased Avenue, M.H.F.B., benefits from being situated at the front to offer for sale the iconic Massey-Harris-Fergusen Block doors of MacEwan University and provides walkable proximity (“M.H.F.B”) historical redevelopment site. M.H.F.B., former to all of Edmonton’s downtown core and ICE District. The home of the Healy Ford dealership is municipally located at M.H.F.B. is well serviced by public transportation, with future 10609 - 104th Avenue & 10616 - 103 rd Avenue NW, Edmonton, Alex Decoteau and NorQuest stations located immediately Alberta (the “Property”). Situated in the heart of the Central South and West as well as the existing MacEwan LRT Station Warehouse District in downtown Edmonton, M.H.F.B offers to the Northeast. an unprecedented opportunity to acquire up to 67,500 sq. ft. of development land. Property will be subdivided into three blocks and may be purchased separately or as one contiguous development. M.H.F.B. 2 ROYAL ALBERTA MUSEUM 97 ST ROGERS 103A AVE MACEWAN PLACE CITY HALL ART GALLERY OF ALBERTA 100 ST MACEWAN UNIVERSITY 104 AVE 97 ST 102A AVE ICE DISTRICT WINSPEAR 102 ST CENTRE 104 AVE CHURCHILL CHURCHILL SQUARE ARTS DISTRICT 104 ST SITE 105 ST CITADEL 103 AVE 102 AVE THEATRE 106 ST EDMONTON 100 ST CANADA CITY CENTRE PLACE 107 ST 107 SHOPPING CENTRES 103 AVE 101 ST JASPER AVE SHAW CONFERENCE 102 ST CENTRE NORQUEST COLLEGE 102 AVE DON WHEATON 103 ST FAMILY YMCA PARK FINANCIAL 104 ST DISTRICT FUTURE DECOTEAU STATION105 ST 102 AVE 106 ST COMMERCE PLACE CENTRAL 107 ST 107 UNIVERSITY OF ALBERTA JASPER AVE 100 ST 101 ST JASPER AVE 102 ST FUTURE PARK 103 ST BAY/ENTERPRISE 104 ST PROPERTY DETAILS LRT LINES CAPITAL LINE METRO LINE JASPER AVE FUTURE VALLEY LINE Legal Description B2; 6; 163-171 10616 - 103 Avenue Municipal Address 10609 - 104 Avenue THE OFFERING 1: 22,500 sq. ft. 2: 22,500 sq. ft. Site Sizes The offering will be available as a contiguous 67,500 sq. ft. 3: 22,500 sq. ft. development or as three distinct parcels of approximately 67,500 sq. ft. (1.55 acres) 22,500 sq. ft. and may be purchased together or individually. In-Place Income $192,000 Annual Parking Income Current Zoning DC1 This unique development opportunity is being offered at a price of $23,625,000 or $350 psf. Max FAR 16x (1,205,552 sq. ft.) Max Units 1,300 Proposals will be dealt with on an as-received basis. Max Height 135-150 Meters Retail and service amenities are provided along Jasper PROXIMITY TO Avenue and 104th Street, and the site is situated in close proximity to ICE District which offers the best AMENITIES & entertainment and interactive experience in Western Canada. Full service amenities are provided by the Save- On-Foods anchored centre three blocks to the West along ENTERTAINMENT 109th Street. Located just two blocks East of the Property is Edmonton City Centre, downtown Edmonton’s premiere daytime shopping mall and comprehensive retail offering. PARK STREET KINGSWAY FUTURE BREWERY STATION AVENUE INGSAYMALL SCHOOL RETAIL BREWERY DISTRICT SCHOOL FUTURE THE YARDS STATION STREET STREET SCHOOL AVENUE SCHOOL SCHOOL OLIVER SQUARE AVENUE PARK AVENUE RETAIL PARK FUTURE MACEWAN ARTS STATION MACEWAN UNIVERSITY FUTURE LRT LINE RETAIL RETAIL AVENUE STREET MACEWAN UNIVERSITY LRT LINE AVENUE PARK STREET SITE MACEWAN STATION ASPER AVENUE RETAIL AVENUE FUTURE NORQUEST STATION NORQUEST COLLEGE ROGERS PLACE CORONA STATION STREET FUTURE FUTURE ALEX DECOTEAU STATION PARK STREET ICE DISTRICT LRT LINE STREET M.H.F.B. 4 M.H.F.B. offers excellent walking proximity to the 0.8 acre Alex Decouteau Park and the recently approved Central Park development located just one block South. When completed, the park will offer 3.09 acres of green developed MASSEY activity space in the heart of the downtown core. HARRIS FERGUSEN BLOCK PARK STREET KINGSWAY FUTURE BREWERY STATION AVENUE INGSAYMALL GROWING RESIDENTIAL SCHOOL RETAIL MARKET OUTLOOK AND BREWERY DISTRICT SCHOOL RENTAL MARKET FUTURE THE YARDS STATION STREET STREET SCHOOL AVENUE SCHOOL SCHOOL OLIVER SQUARE Downtown Edmonton continues to benefit from PARK AVENUE ICE District and the undeniable draw this world- AVENUE RETAIL class development has. Once complete, ICE PARK FUTURE MACEWAN ARTS STATION District will add over 6,000 new people to the core. Acting as a catalyst for residential development, MACEWAN UNIVERSITY there has been 1,700 multi-family units added to the core and absorbed in the last five years with FUTURE LRT LINE RETAIL a current central vacancy rate of only 5.09%, and a more impressive 2.37% in new product. Recent studies have shown that 71.5% of the population RETAIL AVENUE in central Edmonton are renters and that STREET MACEWAN UNIVERSITY Edmonton is now witnessing a “flight to quality” LRT LINE indicating that the market depth for high quality well located rental projects will continue to grow. AVENUE PARK The Central Edmonton new purpose built STREET SITE rental market continues to show strong signs of MACEWAN STATION vibrancy in spite of the downward trend being ASPER AVENUE RETAIL AVENUE FUTURE NORQUEST STATION observed in the ownership market. One of the NORQUEST primary reasons for the rental market success is COLLEGE due to 80.0% of the primary purpose built rental inventory in Central Edmonton being built before 1999, with 70.0% of apartments built between ROGERS PLACE 1960-1979. Interest rate hikes accompanied by the mortgage rule changes have proven highly favorable for rental developers within central CORONA STATION Edmonton as the majority of new purpose built STREET FUTURE FUTURE ALEX DECOTEAU STATION rental buildings have now been stabilized. PARK STREET ICE DISTRICT LRT LINE STREET CENTRAL MCDOUGALL MacEwan University N 104 Avenue Rogers Place 105 Street 108 Street 106 Street Trackway – At-Grade Trackway – Elevated Concrete Walk/ Pedestrian Crossing Kiss & Ride Traffic Signals SITE Shared Use Path NorQuest Pedestrian Activated Access Closure (Public Existing/Proposed Traction Power Sub Station Trackway – Ramp Stop Platform Trackway – At-Grade TrackwayStop – Elevated Concrete Walk/ Pedestrian Crossing Kiss & Ride CrossingTraffic Signals Alleys and Roadways only) Bike Connection (Approximate Location) Shared Use Path TrackwayTrackway – At-Grade – At-Grade ConcretePedestrianConcrete Walk/ Activated Walk/ Access Closure (Public Existing/Proposed Traction Power Sub Station TrackwayStopTrackway Platform – Elevated – Elevated PedestrianPedestrian Crossing Crossing Kiss &Kiss Ride & Ride TrafficTraffic Signals Signals Trackway – Ramp SharedCrossingShared Use Path Use Path Alleys and Roadways only) Bike Connection (Approximate Location) PedestrianPedestrian Activated Activated AccessAccess Closure Closure (Public (Public Existing/ProposedExisting/Proposed TractionTraction Power Power Sub Station Sub Station Stop PlatformStop Platform TrackwayTrackway – Ramp – Ramp CrossingCrossing AlleysAlleys and Roadways and Roadways only) only) Bike ConnectionBike Connection (Approximate(Approximate Location) Location) 103 Avenue DOWNTOWN 107 Street Alex Decoteau 103 Street 105 Street Norquest 106 Street 104 Street Centre High Stop College 102 Avenue VLW PROJECT LIMITS PROJECT VLW Through public engagement, area residents chose the contemporary theme South of 103 Avenue, the lane next to the LRT will be exclusively for the use of DOWNTOWN STOPS for the NorQuest and Alex Decoteau stops. emergency vehicles . The LRT will head south to 102 Avenue along the west side of 107 Street, with a The LRT will then head east along the north side of 102 Avenue, with the final stop between 104 Avenue and 103 AvenueTRANSIT . ORIENTEDValley Line West stop placed between 106 Street and 105 Street . 38 DEVELOPMENT OPPORTUNITY OPPORTUNITY TO CREATE EXCITING STREET LEVEL PRESENCE Edmonton’s iconic Urban Warehouse District is home to an eclectic mixture of historic brick and beam properties that have been transformed into various uses complimented by new construction which aims to reflect the heritage of the neighbourhood while providing modern live and work options. MFHB offers the unique place making opportunity by transforming up to an entire city block, capitalizing on historic architecture while providing immediate LRT connectivity to create the ultimate urban hub.