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Welcome to your Weekly Edition! Hope you’re having a wonderful Saturday! What’s inside? Porte hints at the possibility of creating 300 rental units at The Park at Willowglen. Explore numerous industry updates, engage with the Mayor of Mission, and stay informed about the latest issuances. Get ready with your coffee and make yourself comfortable. ☕
Today’s reading time is 3½ minutes. |
300 New Apartments for The Park at Willowglen? |
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Some big news from Porte Communities was announced to the 1141 investors in The Park at Willowglen property on the northeast side of Calgary. Porte announced they have been exploring the potential of redeveloping 2 of the office buildings (8 & 12) at the south end of the property along with some excess land to build as many as 300 rental apartments. This is exciting news for The Park at Willowglen and could be a great addition to the property and a win for the investors. Follow along in Discord to learn more as details get released. Missed out on The Park at Willowglen? Check out Porte’s latest property in Calgary. |
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Quick Wins |
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🎥 Did you see the live stream we did for the launch of The Harrison property on the addy platform? You can watch the recording here. 🎧 The Loonie Hour | Ep 121 | The Economic Shock Will Come from Outside the US |
Industry News |
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Edmonton housing market expected to see modest growth Edmonton’s real estate market is forecast to be a little like Goldilocks’ preference for porridge — not too hot or too cold. (Edmonton Journal) |
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Allied Properties REIT takes $500-million writedown on Canadian office properties A Canadian office landlord marked down the value of its holdings by nearly $500 million as the persistence of remote work and high interest rates weigh on the market for commercial property. (Financial Post) |
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Vaughn Palmer: B.C. minister says he’s ‘keen’ to discuss plans for Lands Act. Really? The New Democrats advised selected stakeholders earlier this year of their intentions to amend the BC Land Act to enable co-governance with First Nations of the 95 per cent of the province that is currently Crown land. (Vancouver Sun)
Related:
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‘Remarkable resilience.’ Report finds Toronto commercial real estate thriving despite empty office towers Commercial real estate in Toronto is proving to be resilient as demand for industrial and retail space booms despite office space vacancies and higher interest rates, according to a recent report. (Toronto Star) |
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MLA Intel 2024 Report: BC’s 2024 Real Estate Landscape MLA released their annual market intelligence report spanning BC’s presale real estate market. (report) 🎧 Listen to Matt and Adam Scalena interview MLA Canada’s Cameron McNeill & Ryan Lalonde about the MLA Intel 2024 Report. (podcast) |
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Nearly 1,000 rental homes proposed for revised Safeway proposal at Commercial-Broadway SkyTrain The proposed redevelopment of the Safeway grocery store site next to SkyTrain Commercial-Broadway Station will now see 100% secured purpose-built rental housing for its residential uses. There will be zero market strata condominiums. (DailyHive) 📍 This is right near addy’s first property, the Trout Lake duplex. |
Join us! Maple View Heights Apartment Opening |
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Join us on Feb 13th for the opening of the Maple View Heights Apartments in Mission, BC. Stream Property Partners have completed the development of their 108-unit purpose built rental building that includes 11 affordable rental units. At this open house you can get a guided tour of the property and take part in the ribbon cutting officially opening the property and meet other addy members. Plus, the Mayor and Councillors of Mission are coming to the event! Mayor – Paul Horn and City Councillors – Danny Plecas, Carol Hamilton, Jag Gill will be in attendance! Register to join us! |
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Investment Opportunities |
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Apex on PerkinsStillwater, OK 🇺🇸This is your opportunity to participate in the ownership of a 234 unit & 732 bed student housing community located adjacent to Oklahoma State University in Stillwater, Oklahoma. $96,091.11 remaining |
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WychwoodToronto, ON 🇨🇦This is your opportunity to participate in the ownership of a 9-unit multi-family complex consisting of 2 buildings located in the Wychwood neighborhood of Toronto, Ontario. $37,788.00 remaining |
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The HarrisonCalgary, AB 🇨🇦This is your opportunity to participate in the ownership of 51 residential units and 12 commercial units in a single 5-storey mid-rise apartment building located in the City of Calgary. |
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Maple View HeightsMission, BC 🇨🇦 |
Upcoming Meetups |
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Proptech Happy Hour / Meetup Maple View Heights Open House and Meetup |
Upcoming Payouts |
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Projected Issuance Payouts |
Exits |
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Exits so far for addy members An exit occurs when investors divest or liquidate their ownership position in an investment.
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