A $9.9M "development opportunity" is up for grabs near Commonwealth Stadium
A major development opportunity has hit the market in Central Edmonton — a vacant lot all set to go for a high-rise residential development.
Located at 8409 106A Avenue NW, the lot is steps away from Commonwealth Stadium, the river valley, Jasper Avenue, and the LRT. It was recently listed for $9.9 million and is being marketed as an opportunity to develop a large-scale condo project in a rapidly growing part of Edmonton.
“Share our vision of building a healthy, happy, high-end community,” the listing reads.
The proposed project would roll out in two phases, the listing says. Phase 1 would consist of a 30-storey tower with 366 units, and Phase 2 would see a 22-storey tower containing 234 units to be built. Units would range from studio units to three-bedroom and townhouse suites.
- You might also like:
- Here's what's open and closed in Edmonton this Family Day
- An Alberta city is seeing the highest rent price hike in Canada by far
- Alberta's $200 electric vehicle tax begins very soon
In addition, the plans also account for more than 330 parking spots, 526 bicycle stalls, and 490 storage lockers. Proposed amenities include a pool, gardens, yoga/exercise area, BBQ station, and picnic area.
“This is a rapidly developing and maturing neighbourhood with an influx of younger, wealthier buyers/renters, improved housing, new businesses, and increasing property values.”
While we love to see this kind of investment in Edmonton, anyone willing to take on this project better come with deep pockets—not just for the $9.9 million price tag but also for the massive construction costs that would follow.
What would you build on this lot? Let us know in the comments.