Whyte Ave Land Site

9724 - 82 Avenue NW

For Sale

Property Details

Property Type: Land - Multifamily
Neighbourhood: Strathcona
Site Size (SF): 15,281
Zoning RM h23.0
Sale Price: $1,750,000 (114.5 PSF)

Location Overview

The site is located along 82 avenue in the sought after neighbourhood of Strathcona. This district in Edmonton has a history of low vacancy and successful multifamily properties. The site’s position at 97^th street is ideal for accessing the two major features of this area: the entertainment district of Whyte Avenue, and the scenic walking paths of Mill Creek Ravine. The site is also within a 10 minute drive or transit ride to the University of Alberta campus, which is projecting student growth of 35% in the next ten years. These future students, along with the general thousands currently migrating to the city, will increase rental demand in the Strathcona area. This site holds a prime location within the neighbourhood to take advantage of these housing needs.

Investment Highlights

Strathcona and its surrounding communities will see a population growth of up to 10% in the next 2 years, driven by 35% student growth at the University of Alberta (U of A, Folio)

This area of Edmonton has a strong history of multifamily housing with low vacancy rates of 1.2% (CMHC Rental Market Survey)

Site is within a 2-minute drive of the entertainment district on Whyte Avenue, providing over 370 storefronts and 1.2 million SF of commercial space