Mountain View
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GLENDALE MOUNTAIN VIEW APRIL 2019 urbanstargroup.ca 1043 19 AV SE Calgary, AB T2G 1M1 1 OUR VALUES OUR PROJECTS OUR PROMISE Our belief system is grounded on the principles UrbanStar has assembled a team of experienced We are driven by our core values of of delivering the highest quality, client centric builders, architects, engineers, and urban planners understanding, honesty and transparency to offerings in a professional and objective manner. dedicated to creating custom homes of high deliver the highest quality and attention to detail We strive to be the leaders in our professional value and new communities in Alberta. We have a in every project, offer services with the highest practice areas and we are passionately committed full range of high caliber and distinctive projects standards of professionalism, and lead the to a service-based culture where values such as covering single family homes, duplexes, multi- industry in our practice areas for our service-based understanding, honesty and transparency are family condos, and master planned communities. culture. followed. Our custom homes are built with the latest products and technology ensuring excellence in aesthetics, performance, and durability. EXECUTIVE SUMMARY The natural environment in Southern Alberta is one of the most unique in Canada. Recognizing characteristic elements of the land, while maintaining environmental integrity, are key principles in Glendale Mountain View’s community design. Mimicking natural features, capturing sweeping topography and vast sightlines will be employed throughout the open space network to both establish a spatial identity and frame views of the scenic Rocky Mountains. Large clusters of native vegetation will be situated in low areas taking advantage of drainage paths and capitalizing on passive irrigation. Formal and informal pathways will promote connectivity and provide access to a vast array of the landscape’s cinematic natural features. UrbanStar’s Glendale Mountain View development will distill the complexity of its natural surroundings into a holistic neighbourhood for its residents, reflecting all facets of its surroundings in a thoughtful and engaging manner. Conveniently located in Rocky View County along Highway 1A, Glendale Mountain View is approximately 4km northeast of the Town of Cochrane and 35km northwest of the City of Calgary. Comprised of 674 acres of high quality land, the site provides optimal build-out potential. With a range of land use types, including single-family, multi-family, and commercial/retail, the potential build out value is assessed at CAD $954 million - $1.3 billion. This is an immediate development opportunity to acquire land well below replacement cost in a highly coveted scenic location between the City of Calgary and Canada’s Rocky Mountains. FORWARD LOOKING STATEMENTS Nothing contained in this presentation is, or shall be relied upon, as a promise, guaranty, representation or warranty, specific or implied as to the future performance of the investment discussed in the presentation. This presentation may include certain “forward-looking statements.” All statements of historical fact, included herein are forward-looking statements, including, without limitation, future plans and objectives of the Corporation, statements concerning the anticipated regulatory approval of the Corporations land estimates for market growth, anticipated expenditures, the need for additional funds, and other events and circumstances described in terms of the Corporations expectations or intentions. Use of the words “anticipates”, “believes”, “estimates”, “expects”, “intends”, “plans”, “should” , and similar expressions herein are intended to identify forward looking-statements. These statements reflect the current internal projections, expectations or beliefs of the Corporation and are based on current information available to the Corporation. An investment in the Corporation is speculative due to the nature of the Corporations business. Forward-looking statements are subject to known and unknown risks, uncertainties and assumptions, including without limitation, changes in general economic conditions, competition, the Corporations success in marketing its products and addressing regulatory issues and other factors both in and outside the control of the Corporation. Although management of the Corporation believes expectations that represented in such statements are reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such events. There is no assurance the Corporation will be able to successfully raise the capital required, complete each of the growth initiatives described or obtain regulatory approval for its land asset. Investors must rely upon the ability, expertise, judgement, discretion, integrity and good faith of the management of the Corporation. The forward-looking statements contained in this presentation are expressly qualified in their entirety by this cautionary statement. The forward-looking statements made herein are made as of the dare hereof, and the corporation does not undertake any obligation to update such statements to reflect any new information, subsequent results or events or otherwise. 4 CONTENTS INTRODUCTION Overview 6 Regional Context 7 Property Highlights 8 Vision 8 HISTORY Project History 9 Timeline 9 Completed Studies 10 Existing Site Conditions 10 Where We Are Now 11 Moving Forward 15 OPPORTUNITY Potential Land Value 16 Investment Summary 18 APPENDIX Valuation Report INTRODUCTION OVERVIEW CITY OF CALGARY LOCATION Glendale Mountain View is located in Rocky View County along Highway 1A, directly adjacent to the Town of Cochrane and 35km northwest of the City of Calgary. BUILD OUT POTENTIAL GLENDALE MOUNTAINVIEW TOTAL ACREAGE 360 Single - Family Units 1,364 ± 674 ACRES 612 Semi - Detached Units Total Units 392 Townhouse Units 26 Acres Commercial / Retail *per proposed Community Land Use Concept (p.13) GLENDALE RD GLENDALE MANOR GROSS DEVELOPABLE AREA ± 250 ACRES ± 674 acres (272.75 hectares) HWY 1A WINDY RIDGE ESTATES ± 73 ACRES RANGE RD 35 REGIONAL PIPED SERVICING STRATEGY WINDY RIDGE COMMERCIAL ± 44 ACRES WINDY RIDGE PHASE 1 • Piped Water (Bow River raw water diversion/ ± 160 ACRES treatment or Rocky View Water Co-op) • Sanitary Sewer (wastewater connection to Glenbow Ranch or regional connection) • Stormwater Management (Low Impact MOUNTAIN VIEW ESTATES Development Strategies, zero site discharge) ± 145 ACRES BUILD OUT VALUE POTENTIAL RANGE RD 40 TOWN OF COCHRANE $954 million - $1.3 billion *per proposed Build Out Potential (p.16) 6 REGIONAL CONTEXT The Glendale Mountain View site was acquired for its proximity to the City of Calgary, the Town of Cochrane, and the Rocky Mountains. The supply of serviced land in the northwest portion of the City of Calgary has been virtually absorbed and development focus in this area is beginning to shift into Bearspaw and toward the Town of Cochrane. Glendale Mountain View capitalizes on this shift in development, while selecting a highly coveted scenic location with views of the Rocky Mountains. BANFF TOWN OF COCHRANE 106km COCHRANE 0km The Town of Cochrane is located approximately 35km west of Calgary’s city limits along Highway 1A. Cochrane’s population is 26,000 and growing, CANMORE making it one of Alberta’s largest towns and one 84km CITY OF of the fastest growing communities in Canada. CALGARY New businesses, such as Garmin, have recently 35km located their head office in Cochrane. CITY OF CALGARY ROCKY MOUNTAINS The City of Calgary is the largest city in Alberta and the fourth largest City in Canada. Located in the foothills of Alberta’s Rocky Mountains, at the confluence of the Bow and Elbow Rivers, its population is approximately 1.23 million and growing. 7 PROPERTY HIGHLIGHTS LOCATION MOUNTAIN VIEWS HIGH QUALITY LANDSCAPE Glendale Mountain View is situated in a peaceful The topography and strategic location of the site The natural environment in Southern Alberta rural setting with amenities available a short drive provide outstanding views to the southwest of the is one of the most unique in Canada. Glendale away in the Town of Cochrane (pictured) and the scenic Rocky Mountains. Mountain View is planned to maintain the City of Calgary. environmental integrity of the site while framing scenic views and establishing spatial identity. VISION Glendale Mountain View will showcase a community that is amenity rich and fully embodies the natural environment and character of Bearspaw. This community will celebrate the complexity of its natural surroundings through an organic neighbourhood design that is dedicated to maintaining open space through interconnected pathways and parks. Public amenities, a quaint commercial node, and variety of housing opportunities are envisaged for this community. Glendale Mountain View will strive to be socially, economically, and most importantly, environmentally sustainable. 8 HISTORY 2010 2012 2014 2016 2018 PROJECT HISTORY PROJECT INITIATION START DATE The project was initiated in 2010 with a land LAND ACQUISITION PROCESS: ±674 Acres acquisition process that lasted until 2016. During this period, several pre-development studies were conducted. Once the assembly and pre- development studies were complete, UrbanStar’s PRE-DEVELOPMENT STUDIES project team undertook a community engagement process and drafted a conceptual scheme, which was submitted to Rocky View County, along with a proposed