Deerwood Place

The Property is located in the mature neighborhood of Carlisle. Surrounded primarily by single-family homes, it also neighbors the Pembina retail node, which includes Palisades Shopping Centre, North City Centre, and Skyview Centre, totaling 1,258,868 SF of commercial space. The increasing demand for new multifamily products in the Northwest region continues to compress vacancy to a historical market low.

Currently, Edmonton’s Northwest submarket has limited rental product. As demand continues to outpace new rental supply, vacancy rates have decreased by 1.0% from Q4 2022 to Q4 2023 in the Castledown region. Demand and value for affordable rental products are expected to increase as new migrants continue to enter Edmonton, putting upward pressure on rent rates. In Q4 2023, the Northwest experienced the largest quarterly rental rate increase at 8% to $1.95 PSF.