This property sold out to 1050+ Canadians!

Altadore Townhomes

1623 48th AV SW, Calgary AB

Participate in the ownership of 20 multifamily units, consisting of 10 three-bedroom and 10 four-bedroom rental units in Calgary, AB.

The Plan: Acquire and hold 20 multifamily units in a growing neighbourhood in the Calgary Metropolitan Region as income-producing assets with quarterly distributions.

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Quarterly

8 Years

general partner

*The key numbers to explain how the Issuer has made this estimate are available within your addy account. Investments in this property are restricted to British Columbia, Alberta, Ontario, and Saskatchewan residents. The investment limit on this property is $10,000. Any investment amount over $2,500 will still require approval by the EMD on record, Atlas One, subject to suitability review and may be reduced.

Special Announcements

the highlights

  • A well located project in the inner city district of Altadore in southwest Calgary.
  • Comprises 20 multifamily 3- and 4-bedroom townhomes.
  • Townhomes were built in 2018 with vaulted ceilings, common open green spaces and roof top patios among other modern amenities.
  • Stabilized multifamily asset in a hot and growing market.
  • Unique in the area: Most developers focus on in-fill properties, making “Altadore Townhomes” stand out.
  • Premium finishes: quartz countertops, gas range, fireplace, and designer laminate flooring across three levels

The Reel

The Gram

Location in Calgary

1623 48th Ave SW - Map

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About Altadore

Dive into the world of Altadore located in the heart of Calgary, Alberta. Widely recognized as a top residential neighbourhood, Altadore boasts a thriving community of 6,831 residents and is conveniently situated just 9 minutes south of Calgary’s core. Whether you’re flying in or out, the Calgary International Airport is a mere 24-minute drive away.

Source: CREB

Here’s why Altadore stands out:

  • Award-Winning Locale: In 2010, Altadore was celebrated as one of Calgary’s best neighbourhoods, largely due to its close proximity to River Park, one of the most frequented parks on the Elbow River.
  • Vibrant Lifestyle: Beyond its natural beauty, Altadore is renowned for its lively party scene and rich local culture, ensuring a steady demand for rental properties.
  • Economic Profile: With a median personal income of $63,281 (as of 2015) and a median household income of $130,638, Altadore presents a prosperous community. However, it’s worth noting that 7% of its residents are categorized as low income.
  • Diverse Housing Options: The neighbourhood offers a mix of property types to cater to various preferences: 38% are detached homes, 30% are semi-detached/duplexes, 9% are row houses, and 23% are apartments. Interestingly, 29% of these dwellings are rentals, indicating a potential rental market for investors.

Calgary Multifamily

  • Calgary’s rental market is predicted to remain in high demand for 2023 due to several factors, including a growing population, a thriving labor market, and a fallback in home buying. Alberta had the 2nd fastest rates of annual rent increases in 2022, with a high influx of residents from Ontario and British Columbia.
  • Calgary’s rental rates are significantly lower than Toronto and Vancouver, and with steady economic growth, higher borrowing costs for mortgages, and new purpose-built rental developments, the rental market is expected to remain strong in 2023.
  • The rental vacancy rate dropped to 1.2% in stabilized buildings by the end of 2022, and with 29 new projects launched, adding 3,078 rental units to the market, rents are expected to increase by at least 5% in 2023. Calgary’s affordability and desirability, with hundreds of new jobs becoming available, make it an attractive city for people to reside in.

Alberta Tourism

  • Alberta tourism industry went from generating $8.2 billion pre-pandemic to a low of $4.7 billion when there were strict public health measures in place. It is expected to rebound somewhat this year, bringing in about $5.2 billion.

The General Partner

The company was founded in 1968 by Hershey Porte. By putting his own name on it, Hershey was signalling that he intended to build the company with hard work and integrity.

In the decades that followed, Porte did just that by growing the company considerably to include residential and commercial property management and real estate development. It’s this multi-faceted experience in so many areas of the real estate industry that has allowed us to thrive through countless market cycles, trends and business environments.

Over the years, we’ve also discovered that we’re really in the business of developing communities and enriching lives. You’ll find that spirit in our award-winning developments, our extraordinary charitable work and in every employee who proudly calls Porte their place of work. When people feel this good about doing their job, amazing things happen.

Over the years Porte has developed a set of fundamental beliefs. These beliefs when put into action have formed the promises that we make and live by every day. Porte has a fully integrated team of over 50 staff across BC and Alberta. From ground up development and construction, project sales, asset and property management, and arranging financing of completed assets, Porte’s team is fully capable of providing scale and operational efficiencies. Porte was founded in 1968 and has developed, managed, and operated over 3500 residential units and 1.2M square feet of commercial space.

More from David Porte

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General Partner Type

GP Types - OG

OG

These General Partners have 10+ years of experience and/or have owned and operated real estate in excess of $80M+ in asset value. These partners are seasoned in the industry and have a track record of successfully managing large-scale real estate projects (Learn more).

Past Properties

Porte Communities has listed two other properties on the addy platform. Check them out below!

The Park at Willowglen

Learn More >

The Airdrie Block

Learn More >

The Dealer

Investing in crowdfunding and exempt market offerings has significant risk. Investors may not be able to resell their securities quickly or at all and the securities may be subject to resale restrictions. These investment opportunities may result in the loss of all or most of your investment. You may receive limited ongoing information about a company or an investment made through Atlas One. Please be aware that investments offered by third-parties through this Atlas One operated Platform are risky. These investment opportunities may result in the loss of all or most of your investment. You may receive limited ongoing information about a company or an investment made through Atlas One.

This Offering has the following investment profile, which may not be aligned with your own circumstances

  • Risk tolerance/capacity: High Risk
  • Investment time horizon: 8-10 years
  • Investment Objective: Balanced/Growth
  • Investment knowledge/experience required: Fair/Moderate

Due Diligence

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To review all of the Due Diligence documents including investor deck, appraisal, and other confidential materials you need to be a member. Join us today! Already a member? Log into your account to review.

How Do I Make Money?

You can make money in 2 ways:

  1. Sale of the Property: When the property is sold, any appreciation is paid back to investors in addition to their investment principal.
  2. Rental Income: When tenants pay rent, additional cash flow can be passed back to investors in the form of a distribution.

Details are outlined in the Offering Documents for each property.

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