160 acres RESIDENTIAL development land 9999-146 Avenue SE

CALGARY, SOUTH SHEPARD ASP DEVELOPMENT LAND 9999 - 146 AVENUE SE, , ALBERTA LIST PRICE: $34,500,000 THE OPPORTUNITY

Jones Lang LaSalle Real Estate Services, Inc. (“JLL”), through its Calgary office, is pleased to announce that it has listed for sale approximately 160 acres of residential development land, located in southeast Calgary.

Located within the of Hotchkiss, the subject property, as set forth in the South Shepard Area Structure Plan (the “ASP”), is to be developed into a future residential subdivision consistent in form and density with many of its currently built-out neighbours (e.g. Mahogany, Auburn Bay, and Copperfield).

As one of Calgary’s dominant growth corridors, the southeast sector is largely built-out, with the remaining development capacity largely in the control of only a handful of developers. Adjacent to the Property two of Calgary’s premier developers (e.g. Hopewell Residential and Melcor Developments Ltd.) have already received development approval from The City of Calgary. Site servicing is expected to commence in the spring of 2020.

A JLL Box Account has been set up to provide additional property and planning details. INVESTMENT HIGHLIGHTS

• The ASP is in place and it secures the Property’s future as a residential development parcel; • The Growth Management Overlay has been lifted by The City to allow development of the adja- cent lands by both Hopewell and Melcor, with Hopewell front-ending the majority of the infra- structure for the area; • The southeast sector is forecasted by The City of Calgary to secure 28% of residential demand (2018-2022); • With the majority of lands in the southeast already controlled by some of Calgary’s premiere developers, there are almost no other options available to acquire land for large scale residen- tial development. • The land has been in continual agricultural use, has not had any industrial use since initial reg- istration, and there are no known environmental liabilities.

PROPERTY SUMMARY

PROPERTY SITE LEGAL Land-Use COMMUNITY TOPOGRAPHY LIST PRICE: $34,500,000 ADDRESS AREA Description Designation 9999 - 146 Ave SE 159.41 Acres 4;29;22;36;NE S-FUD Hotchkiss Generally Flat

2 3 SOUTH SHEPARD ASP DEVELOPMENT LAND LIST PRICE: $34,500,000 2 LOCATION HIGHLIGHTS CANYON MEADOWS The Property is located just to the east of SE and north of Highway 22X. Being so close to the regional transportation network makes this Property well situated to access , the airport and key regional 9999-146 Ave SE 25 MINS to facilities like the South Calgary Hospital, the Recreation Centre (Brookfield Residential YMCA at Seton) and the Calgary, Alberta public library. In addition, the southeast sector is supported by many of ’s premiere grocers and retailers. QUEENSLAND

Brookfield Residential YMCA at Seton SOUTH TRAIL CROSSING 100 SE DEER RIDGE SHAWNEE SLOPES 9 MINS to 29 MINS to Trail Crossing International Airport SUBJECT PROPERTY PARKLAND 146 Avenue SE NEW BRIGHTON

MILLRISE MCKENZIE TOWNE 104 Street SE Wide variety of retail 13 MINS to COPPERFIELD in close proximately Seton 201 MIDNAPORE MCKENZIE TOWNE SHAWNESSY

MAHOGANY

Rapid transit access to Easy access to Stoney Seton and Auburn Bay Trail & Alberta 22X SOMERSET SUNDANCE MAHOGANY

Seton Library 22X AUBURN BAY 22X SETON

2A SILVERADO Seton CHAPARRAL Brookfield Residential YMCA at Seton

SETON Seton Library

2A SOUTH SHEPARD ASP DEVELOPMENT LAND 9999 - 146 AVENUE SE, CALGARY, ALBERTA LIST PRICE: $34,500,000 PLANNING OVERVIEW LAND USE & TRANSPORTATION CONCEPT

SOUTH SHEPARD AREA STRUCTURE PLAN (ASP) • As the subject Property is located within this planning area, this 2013 approved plan is the Statutory policy plan that sets out the form of development to occur on all lands within the planning area, including the subject Property • The ASP directs that the form of development anticipated for the subject property is a typical “neighborhood area” con- sisting primarily of a mix of single family and low density multi-family development

PLAN AREA ATTRIBUTES

ENVIRONMENTAL OPEN SPACE STUDY AREA

Source: City of Calgary, South Shepard Area Structure Plan

6 7 SOUTH SHEPARD ASP DEVELOPMENT LAND 9999 - 146 AVENUE SE, CALGARY, ALBERTA LIST PRICE: $34,500,000 OWNERSHIP PROFILE LAND USE DESIGNATION

The Property is currently located beside parcels being developed by Hopewell Residential and Melcor. • The Property is currently in the holding district of S-FUD (Special Purpose – Future Urban District) • This will require a change in the future in order to accommodate the range of residential uses contemplated within ASP • Any land use application will require a supporting Outline Plan that in turn will detail exactly how the subject Property and its adjoining lands are to be serviced – including what off- site municipal services must be constructed to accommo- date any development

GROWTH MANAGEMENT OVERLAY

• The City of Calgary, in 2018, removed the Growth Management Overlay for the adjacent lands (ie. South Shepard Bylaw Hopewell 38P2017) Residential • As a result, development of the lands to the west, which are owned by Hopewell Residential and development of the lands to the south, which are owned Melcor, can proceed Hopewell • The City subsequently approved an Outline Plan and Land Use redesignation so to allow development of these lands to Residential proceed • City administration was directed by City Council to explore the phasing out of the GMO. A report is due back to the Prior- ities and Finance Committee in 2020.

Source: City of Calgary, South Shepard Area Structure Plan 38P2017

8 9 SOUTH SHEPARD ASP DEVELOPMENT LAND 9999 - 146 AVENUE SE, CALGARY, ALBERTA LIST PRICE: $34,500,000 ADJACENT DEVELOPMENT SERVICING OVERVIEW

• While the Growth Management Overlay is still in place for the subject Property, development of the adjacent land is pro- The table below is from The City of Calgary’s “ Suburban Residential Growth 2019-2023 report. ceeding • City Council report C2018-0881, provide the developers approval to commence development immediately • It is anticipated that development will commence spring of 2020

HOPEWELL RESIDENTIAL: PROPOOUTLINESE PLAND OUTLINE PLAN MELCOR DEVELOPMENTS: OUTLINE PLAN

SUBJECT PROPERTY

Source: City of Calgary, Suburban Residential Growth 2019-2023

10 11 SOUTH SHEPARD ASP DEVELOPMENT LAND 9999 - 146 AVENUE SE, CALGARY, ALBERTA LIST PRICE: $34,500,000 SERVICING OVERVIEW SERVICING OVERVIEW Map 15: Southeast sector vacant residential land supply by servicing status as of October 2017 The infrastructure shown on this map illustrates the requirements to service the entire Area Structure Plan. NEW SUBURBAN AREAS GROWTH FORECASTS 2019-2023

I R Legend W GLENMORE TR SE EAST O B Sector Boundary Serviced (all leading City infrastructure in place) (Fire, Transportation,RIVERBEND Water, Sanitary, Storm Sewer) SECTION 23 Partially Serviced SOUTH FOOTHILLS t (some leading infrastructure in place, but not all five) Needs Fire Needs Transportation

Needs Water Resources C

I

T 24 ST SE (water, sanitary or storm) Y

L

I

Unserviced M

I

SHEPARD T

(no leading infrastructure in place) E

S

INDUSTRIAL S

Subject To ASP Approval R C T P (Will Include Residential And RA Non Residential Uses) W ILW O AY L !

Future Water Feedermain R

A

D B Future Storm Trunk EER 114 AV SE FO D SE O T Future Sanitary Trunk TR SE EAST SHEPARD INDUSTRIAL ! Future Sanitary Lift Station DOUGLASDALE/ # Future Pressure ReductionGLEN Station

B E S

O S TO

T

" SE Future Reservoir W LANDFILL

S T SITE N SOUTH SHEPARD ASP

2 S

R E ! Future Pump Station 5

I 8 V E Y R 6

Future Skeletal Road TR S Future Arterial Street E "E ³ Future Flyover 1 3 0 AV SE

B

! L FutureO Partial Interchange

W ! L B ¬ O FutureT Full Interchange T O M "E EmergencyT Response Station NEW R S BRIGHTON TransportationE Utility Corridor

F I S MCKENZIE MCKENZIE H SOUTH LAKE TOWNE C 5 COPPERFIELD 2 R S

E T E S

K E

E TR S RNE F LO IS O RQU MA

AUBURN BAY ARQUIS OF LORNE TR SE MAHOGANY

C

I

T B Y O W L

I

M

R I

T

SE S I BV V ON

SET

E R RANGEVIEW CRANSTON ASP "E

REMAINDER

! L

E SETON RS

T

T

"E O ¬ O ¬ 212 F AV SE R M E A E C D L E O Pine Creek D Wastewater ITS LIM T Treatment Y R IT Plant C S E

R I V O W E R B

CITY LIMITS

Source: City of Calgary, Suburban Residential Growth 2019-2023 Source: City of Calgary, Suburban Residential Growth 2019-2023

12 Sector data findings and forecasts | Part 3 3-33 13 SOUTH SHEPARD ASP DEVELOPMENT LAND 9999 - 146 AVENUE SE, CALGARY, ALBERTA LIST PRICE: $34,500,000 MARKET DEMAND SUPPLY

The Calgary Economic Region is estimated to grow by an average of 18,740 people per year. This represents an average annual FORECASTForecast estimate ESTIMATE of totalunits TOTAL 2018-2022, UNITS 2018-2022, City of Calgary CITY and OF new CALGARY suburban AND areas NEW SUBURBAN AREA growth rate of 1.2 per cent per year to 2022. Year 2018 2019 2020 2021 2022 2018-2022 Yearly Average POPULATION City-Wide Forecast (Total Units) (see Table 9) 4,400 4,100 5,900 8,000 9,600 32,000 6,400 The CER held a population of 1,563,000 in 2017 and is projected to increase by 93,700 people to 1,656,700 by 2022. Calgary’s population forecast for 2022 is 1,322,800 accounting for 80 per cent of the region’s population, adding 76,700 people. Total Units - Forecast Estimates for Growth into New Suburban Communities Average Historical Average Forecast Share Sector Share 2018-2022 5 year 3 year 2 year % Units % Units % Units % Units % Units % Units Hectares Acres NORTH 28% 26% 25% 28% 1,030 26% 900 26% 1,290 24% 1,440 24% 1,630 25% 6,290 278 687 Southeast sector summary: 2013‐2017 NORTHEAST 21% 26% 30% 22% 830 23% 780 23% 1,140 23% 1,380 24% 1,590 23% 5,720 226 558 Figure 9: Total PopuTotallation populationFor Calgary (2008-2022) for Calgary (2008-2022) This compares to the previous ve year, EAST 0% 0% 0% 0%00% 10 0% 20 1% 60 1% 80 1% 170 9 22 SOUTHEAST 32% 26% 27% 28% 1,030 28% 970 29% 1,434 28% 1,660 27% 1,810 28% 6,904 300 741 where1,3 the50,000 Southeast sector attracted: 1,322,800 SOUTH 15% 19% 14% 18% 670 18% 610 18% 870 19% 1,110 19% 1,260 18% 4,520 189 467 1,300,000 WEST 4% 4% 4% 4% 140 5% 190 4% 200 4% 240 5% 370 5% 1,140 80 198 NORTHWEST 0% 0% 0% 0%00%00%00%00%00% 0 0 0 33%1,250,000 1,246,337 of the total suburban 32% Forecast TOTAL 100% 100% 100% 100% 3,700 100% 3,460 100% 4,954 100% 5,890 100% 6,740 100% 24,744 1,082 2,673 of the suburban 31% population1,200 growth,,000 of multi-residential units. Average number of total units and land needs to new suburban communities each year = 4,949 216 535 for 34,606 people. total units. Actual 33% SHARE of city total units 60% 58% 57% 84% 84% 84% 74% 70% 77% of city wide total units 1,150,000 of single/semi units. io n P opul at

1,100,000 NORTH Half of Calgary 48% 52% 55% 50% 1,860 49% 1,690 49% 2,450 49% 2,880 49% 3,300 49% 12,180 513 1,267 SOUTH Half of Calgary 52% 48% 45% 50% 1,840 51% 1,770 51% 2,504 51% 3,010 51% 3,440 51% 12,564 569 1,406 1,050,000 11,146 units 5,915 units 5,231 units North Half of Calgary = North, Northeast, East, Northwest Sectors 1,000,000 2007 2009 2011 2013 2015 2017 2019 2021 South Half of Calgary = Southeast, South and West Sectors Year Total units and land areas is based on a variety of developer anticipated units and/or densities from actual approved planned land supply using Tentative Plan and Outline Plan build out capacities and estimates of housing capacities from community plans or area structure plans. These capacities are from actual Source: City of Calgary: Civic Census, Planning & Development, Calgary & Region Economic Outlook 2017-2026 build out of these areas for each sector and re ect the ve year 2017-2021 blue growth bands in the SRG report Map 5. The last ve year average of total units SoutSource:he Cityast of Calgasectorry: Civic for Census,ecasts: Planning 2018-2022 & Development, going into the new has ranged between 54 and 67 per cent. Forecast over the next ve year period uses 68 per cent with consideration of historical Calgary & Region Economic Outlook 2017-2022 trends and expected projections. Note: the totals and shares shown are not intended to be targets for the City of Calgary. They represent likely growth given SOUTHEASTCurrent estimates SECTOR are that, SUMMARY:over the next ve2018-2022 years existing assumptions and conditions. Numbers may not add up due to rounding. Currentnew suburban estimates areas are will that, attract: over the next five years the sector will attract: Source: City of Calgary: Planning & Development, Calgary & Region Economic Outlook 2017-2026

27% 28% 28% of the total suburban of the total new of all the new population growth, housing units. multi-residential units for 18,479 people. 28% of new single/semi units

6,910 units 4,710 units 2,200 units

14 15 OFFERING PROCESS

The Property is being offered for sale with a List Price of $34,500,000. Offers will be considered on a first come, first serve basis.

All inquiries regarding the Property should be directed to:

JLL CAPITAL MARKETS KEN WESTHAVER RYAN MURPHY jll.ca I 403-456-2233 JLL Capital Markets, Calgary JLL Capital Markets, Calgary East Land Services & Development Senior Sales Associate Suite 3900, Senior Vice President (403) 456-5582 855 – 2nd Street SW (403) 456-2209 [email protected] Calgary, AB T2P 4J8 [email protected]

DISCLAIMER © 2019 Jones Lang LaSalle IP, Inc. All rights reserved. Information set out herein (the “Information”) has not been verified by Jones Lang LaSalle Real Estate Services, Inc., Brokerage and any and all of its real estate agents/staff, and to all other divisions of the company (collectively “JLL”). JLL does not represent, warrant or guarantee the accuracy, correctness and complete ness of the Information. Given the limitations of the investigations, inquiries and verification that JLL have undertaken, the reliability of this Information must be treated with asuitable degree of caution and neither JLL or any of their affiliates accept any liability or responsibility for the accuracy or completeness of the information contained herein and no reliance should be placed on the information contained in this document. JLL does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from JLL.