RICARDO RANCH LANDS CALGARY, ALBERTA - Premier Residential Development Land Opportunity - JLL
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RICARDO RANCH LANDS
CALGARY, ALBERTA
Premier Residential
Development Land Opportunity
RICARDO RANCH LANDS - PREMIER RESIDENTIAL DEVELOPMENT LAND OPPORTUNITY
THE OPPORTUNITY
Jones Lang LaSalle Real Estate Services, Inc. (“JLL”), through its Calgary office,
is pleased to announce that it has listed for sale approximately 532 acres of
premier residential development land, located in southeast Calgary (the
“Property”).
Located along the banks of the Bow River, the subject Property, as set forth in
the Ricardo Ranch Area Structure Plan (the “ASP”), is to be developed into a
future residential and commercial subdivision consistent in form and density
with many of its currently built-out neighbours (e.g. Mahogany, Seton, Auburn
Bay, and Copperfield).
As Calgary’s dominant growth corridor, the southeast sector is largely built-
out, with the remaining development capacity largely in the control of only a
handful of developers. Adjacent to the Property are three of Calgary’s prominent Subject Property
developers (Brookfield Residential, Genesis Development Corp. and Genstar For Sale
Development Company) are planning for the next phases of development.
If you wish to obtain more detailed Property information, please contact the
Advisors. A JLL Box Account has been set up to provide additional property and Ricardo Ranch ASP
planning details.
PROPERTY SUMMARY
LEGAL DESCRIPTION SITE AREA
N.E1/4 SEC.10-22-29-4 1910908; 8; 1 1910908; 9; 1
1910908; 6; 1 75.07 Acres
1910908; 7; 1 19.94 Acres
NE-10-22-29W4M 160.00 Acres
1910908; 6; 1 1910908; 7; 1 1910908; 8; 1 153.30 Acres
1910908; 9; 1 121.00 Acres
Total: 532.31 Acres
2
RICARDO RANCH LANDS - PREMIER RESIDENTIAL DEVELOPMENT LAND OPPORTUNITY
INVESTMENT HIGHLIGHTS
• The ASP is adopted by Bylaw and it secures the Property’s future as a typical residential neighbourhood
development Ricardo Ranch represents a “best in class” opportunity for
• Both developers to the west are planning to submit Land Use and Outline Plans in March of 2020; this should
allow development by the spring 2021; new community development in Calgary. It also represents an
• Given the Property’s adjacency to regional servicing infrastructure, development of the subject Property can
commence in the timeline similar to the adjacent lands; opportunity to develop land with escarpment, mountain, and
• The southeast sector is forecasted by The City of Calgary to secure 28% of residential demand (2018-2022);
• With the majority of lands in the southeast already controlled by some of Calgary’s most prominent devel- river valley views, with access to parts of the Bow River Valley
opers, there are almost no other options available to acquire land for large scale residential development;
• The Property offers outstanding escarpment, mountain, and river valley views and direct access to what will not previously available for community use.
be a continuation of the Bow River Regional Parks System; and
• The land has been in continual agricultural use and there are no known environmental liabilities on the
Property.
LAND AREA LAND-USE TOPOGRAPHY COMMUNITY
532.31 Acres DESIGNATION Generally flat upland, with a prominent Ricardo Ranch
S-FUD rolling esker and escarpement to the
Bow River valley
4
RICARDO RANCH LANDS - PREMIER RESIDENTIAL DEVELOPMENT LAND OPPORTUNITY South Health Campus
Glenmore Reservoir
560
LOCATION HIGHLIGHTS
Ricardo Ranch 30 mins to 40 mins to Calgary 2
Calgary, Alberta Downtown Calgary International Airport
Stoney Trail SE
Subject Property
For Sale
10 mins to Future Green Line LRT Rapid transit access to Wide variety of retail
Seton station at Seton Seton and Auburn Bay in close proximately SOUTH TRAIL CROSSING Ricardo Ranch ASP
MCKENZIE TOWNE New
Brighton
MAHOGANY
McKenzie Copperfield
Towne
SETON
Mahogany
Auburn
22X 201 Bay
178 Avenue SE
Brookfield Residential YMCA at Seton
88 Street SE
Seton South
Health Campus
Seton Library Brookfield Residential YMCA at Seton Soutzo
Seton Library Seton
Genstar
Range West/ Irene Ghica Maurice Evans
Development Soutzo
Westcreek Deniau Paperny Developments
Red Deer Lake Company
Ma
City Limits
Danuta Evans
ail
cle
Genstar Trafford/ Developments
Brookfield Residential Range West/ Multiple
Development Soutzo
Westcreek Rose-Isabelle
t Tr
Properties Owners
Company
od
Tarnowski
rfoo
Tra
Soutzo Maurice Multiple
Genesis
Soutzo Soutzo Soutzo Paperny Owners
Brookfield Development
il
Corp.
Dee
Residential
SE
Properties
Soutzo Province of Alberta
Genesis
Development Subject Property
Corp.
City Limits For Sale
2A Ricardo Ranch ASP
City Limits
2A
RICARDO RANCH LANDS - PREMIER RESIDENTIAL DEVELOPMENT LAND OPPORTUNITY
LOCATION HIGHLIGHTS
The Ricardo Ranch Lands are located within the Ricardo
Ranch Area Structure Plan - which is part of the Southeast
Planning Area Regional Policy Plan and is directly contiguous
to approved Land Use and Outline Plans and development in
Seton and Rangeview.
Area Structure
Plan
Source: C2109 - Ricardo Ranch Business Case Report
6
RICARDO RANCH LANDS - PREMIER RESIDENTIAL DEVELOPMENT LAND OPPORTUNITY
TRANSIT NETWORK
PLANNING OVERVIEW
RICARDO RANCH AREA STRUCTURE PLAN (ASP)
• This Area Structure Plan which was approved in 2019, is the statutory policy plan that sets out the form of develop-
ment to occur on all lands within the planning area, including the subject Property
• The ASP directs that the form of development anticipated for the subject property is a typical “neighborhood area”
consisting primarily of a mix of single family and low density multi-family development Subject Property
• The Property supports two Neighborhood Activity Centres which are to include a wide range of mixed use and com- For Sale
mercial land uses.
LAND USE CONCEPT
Source: City of Calgary, Ricardo Ranch Area Structure Plan
Subject Property
For Sale
COMMUNITY AND NEIGHBOURHOODS
Subject Property
For Sale
Source: City of Calgary, Ricardo Ranch Area Structure Plan
10
RICARDO RANCH LANDS - PREMIER RESIDENTIAL DEVELOPMENT LAND OPPORTUNITY
OWNERSHIP PROFILE GROWTH MANAGEMENT OVERLAY
• The land owners in the planning area have been approved to submit, and are submitting, a comprehen-
sive business case for removal of the Growth Management Overlay
178 Avenue SE • The Property is currently in the holding district of S-FUD (Special Purpose – Future Urban District)
• This will require a change in the future in order to accommodate the range of residential and commer-
Range Road 290
cial uses contemplated within the ASP
120 Street SE
88 Street SE
Soutzo
Genstar
Range West/ Evans
Development Deniau Soutzo Paperny
Westcreek Developments
Company
15 14 13 18
City Limits
Danuta Evans
Genstar Trafford/ Developments
Brookfield Residential Range West/ Multiple
Development Soutzo
Properties Westcreek Rose-Isabelle Owners
Company Tarnowski
178 Avenue SE
rail
Subject Property
ot T
Soutzo Multiple
Paperny
For Sale
Range Road 290
Genesis 12 Owners
Soutzo Soutzo Soutzo
Development
rfo
88 Street SE
Brookfield 7
Residential Corp.
Dee
Properties 10 11
Genesis Soutzo Province of Alberta
Development
Corp.
Subject Property
80 Street SE
For Sale Source: City of Calgary, Ricardo Ranch Area Structure Plan
Ricardo Ranch ASP
ADJACENT OUTLINE PLANS
City Limits
Township Road 220
View looking southwest over a portion of the lower Plan Area.
il
Tra
Genesis Soutzo
ot
Land Use/ Soutzo Soutzo Soutzo 12
rfo
Outline Plan
Brookfield
March, 2020
Dee
Land Use/
Outline Plan 10 11
March, 2020 Soutzo Province of Alberta
Subject Property
City Limits For Sale
80 Street SE
Ricardo Ranch ASP
City Limits
12
RICARDO RANCH LANDS - PREMIER RESIDENTIAL DEVELOPMENT LAND OPPORTUNITY
SERVICING OVERVIEW
Map 15: Southeast sector vacant residential land supply by servicing status as of October 2017
The infrastructure shown on this map illustrates the requirements to service the entire Area Structure Plan.
t
EAST • 11 km, water feedermain, funded and
I
R
Legend
GLENMORE TR SE
W
under construction
O
Sector Boundary
B
Serviced (all leading City infrastructure in place)
SECTION 23
• Trenchless crossing of Deerfoot Trail
RIVERBEND
(Fire, Transportation, Water, Sanitary, Storm Sewer)
Partially Serviced SOUTH FOOTHILLS • Phase 1 connects at Cranston AV and
ends just past 72 ST (Future 52 ST)
(some leading infrastructure in place, but not all five)
Needs Fire
Needs Transportation • Services for Rangeview and Ricardo
24 ST SE
Needs Water Resources
Ranch developments
CITY LIMITS
(water, sanitary or storm)
Unserviced
(no leading infrastructure in place) SHEPARD
INDUSTRIAL
BARLOW T R SE
• Future Phase 2: ties to Phase 1 end
Subject To ASP Approval
(Will Include Residential And
CP
RA
ILW
and connects to existing stub NE of
Non Residential Uses)
Future Water Feedermain
AY
! Mahogany
Future Storm Trunk DEER
FO
OT
114 AV SE • Services for WestCreek and Section
D SE Future Sanitary Trunk TR SE EAST SHEPARD INDUSTRIAL
23 Developments
! Future Sanitary Lift Station
DOUGLASDALE/
# Future Pressure Reduction
GLENStation
52 ST SE
" Future Reservoir
B
68 ST SE
STONEY TR SE
O
LANDFILL
SOUTH SHEPARD ASP
W
! Future Pump Station R
I VE
R
SITE
Future Skeletal Road
Future Arterial Street
Future Flyover "
E
³
13
0 AV SE
L!
Future Partial Interchange
BO
L!
• 3.1 km, storm trunk, funded and
W
¬ Future Full Interchange
BO
TT
"
E Emergency Response Station under construction
O
NEW
M
BRIGHTON
TR
Transportation Utility Corridor • Outfall to Bow River, trenchless
SE
SOUTH installation at escarpment
F
MCKENZIE MCKENZIE
IS
TOWNE
LAKE
COPPERFIELD • Services central and east side of
H
52
C
Rangeview and Rivardo Ranch
R
ST S
E
E
K
Communities
E
ORN
E TR S
E
• Storm trunk to convey “clean”
OF L
UIS
M AR Q stormwater
• Alighments on future 52 ST and
AUBURN BAY future 212 AV
ARQUIS OF LORNE TR SE
MAHOGANY
CITY LIMITS
BO
W
N BV
SE
STORMWATER MANAGEMENT
RIV
O
SET
ER
RANGEVIEW
CRANSTON ASP
REMAINDER "
E
L!
SETON
T TR S E
"
E
FO O
¬ ¬ 212
AV SE
ER
DE
MA
CL
Pine Creek
EO
Wastewater IT S
L IM
D
Treatment
TY
TR
Plant
I
C
SE
W RIVER Subject Property
BO
CITY LIMITS
For Sale
Source: City of Calgary, Suburban Residential Growth 2019-2023
Source: City of Calgary, Ricardo Ranch Area Structure Plan
Sector data findings and forecasts | Part 3 3-33
14
This compares to the previous five year,
RICARDO RANCH
whereLANDS - PREMIERsector
the Southeast RESIDENTIAL DEVELOPMENT LAND OPPORTUNITY
attracted:
MARKET
33%
DEMAND SUPPLY MARKET DEMAND SUPPLY
32%
of the total suburban
of the suburban Total population
Figure 9: Total Population 31%
for Calgary (2008-2022)
For Calgary (2008-2022)
The Calgary Economic
population growth, Region is estimated
total units.
to grow by an of multi-residential units. NEW SUBURBAN AREAS GROWTH FORECASTS 2019-2023
average of 18,740 people per year. This represents an average
for 34,606 people. 1,350,000
annual growth rate of 1.2 per cent per year to 2022. 33% 1,322,800
of single/semi
1,300,000units.
POPULATION 1,250,000 1,246,337
Forecast
Population
1,200,000
The CER held a population of 1,563,000 in 2017 and is projected Actual
1,150,000
to increase by 93,700 people to 1,656,70011,146 units Calgary’s
by 2022. 5,915 units 5,231 units
population forecast for 2022 is 1,322,800 accounting for 80 per 1,100,000
cent of the region’s population, adding 76,700 people. 1,050,000
1,000,000
SOUTHEAST SECTOR
Southeast SUMMARY:
sector 2018-2022
forecasts: 2018-2022 2007 2009 2011 2013 2015 2017 2019 2021
Year
Current estimates
Current estimates are that,are
overthat,
theover
nextthe
fivenext five
years theyears
sec- Source: City of Calgary: Civic Census, Planning & Development, Calgary & Region Economic Outlook 2017-2026
Source: City of Calgary: Civic Census, Planning & Development,
tor will attract:
new suburban areas will attract: Calgary & Region Economic Outlook 2017-2022
27% 28% 28%
of the total suburban of the total new of all the new
population growth, housing units. multi-residential units
for 18,479 people.
28%
of new single/semi units
6,910 units 4,710 units 2,200 units
Source: City of Calgary, Suburban Residential Growth 2019-2023
16
RICARDO RANCH LANDS - PREMIER RESIDENTIAL DEVELOPMENT LAND OPPORTUNITY
MARKET DEMAND SUPPLY
FORECAST ESTIMATE TOTAL UNITS 2018-2022, CITY
andOF
newCALGARY
suburban AND
areas NEW SUBURBAN AREA
Forecast estimate of totalunits 2018-2022, City of Calgary
The Southeast sector has historically been the
Year 2018 2019 2020 2021 2022 2018-2022 Yearly Average
City-Wide Forecast (Total Units) (see Table 9) 4,400 4,100 5,900 8,000 9,600 32,000 6,400 fastest growing sector in the entire city with 32%
Total Units - Forecast Estimates for Growth into New Suburban Communities
Average Historical Average Forecast Share
of the market share.
Sector
Share 2018-2022
5 year 3 year 2 year % Units % Units % Units % Units % Units % Units Hectares Acres
NORTH 28% 26% 25% 28% 1,030 26% 900 26% 1,290 24% 1,440 24% 1,630 25% 6,290 278 687
NORTHEAST 21% 26% 30% 22% 830 23% 780 23% 1,140 23% 1,380 24% 1,590 23% 5,720 226 558
EAST 0% 0% 0% 0% 0 0% 10 0% 20 1% 60 1% 80 1% 170 9 22
SOUTHEAST 32% 26% 27% 28% 1,030 28% 970 29% 1,434 28% 1,660 27% 1,810 28% 6,904 300 741
SOUTH 15% 19% 14% 18% 670 18% 610 18% 870 19% 1,110 19% 1,260 18% 4,520 189 467
WEST 4% 4% 4% 4% 140 5% 190 4% 200 4% 240 5% 370 5% 1,140 80 198
NORTHWEST 0% 0% 0% 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0 0
TOTAL 100% 100% 100% 100% 3,700 100% 3,460 100% 4,954 100% 5,890 100% 6,740 100% 24,744 1,082 2,673
Average number of total units and land needs to new suburban communities each year = 4,949 216 535
SHARE of city total units 60% 58% 57% 84% 84% 84% 74% 70% 77% of city wide total units
NORTH Half of Calgary 48% 52% 55% 50% 1,860 49% 1,690 49% 2,450 49% 2,880 49% 3,300 49% 12,180 513 1,267
SOUTH Half of Calgary 52% 48% 45% 50% 1,840 51% 1,770 51% 2,504 51% 3,010 51% 3,440 51% 12,564 569 1,406
North Half of Calgary = North, Northeast, East, Northwest Sectors
South Half of Calgary = Southeast, South and West Sectors
Total units and land areas is based on a variety of developer anticipated units and/or densities from actual approved planned land supply using Tentative
Plan and Outline Plan build out capacities and estimates of housing capacities from community plans or area structure plans. These capacities are from actual
build out of these areas for each sector and reflect the five year 2017-2021 blue growth bands in the SRG report Map 5. The last five year average of total units
going into the new suburbs has ranged between 54 and 67 per cent. Forecast over the next five year period uses 68 per cent with consideration of historical
trends and expected projections. Note: the totals and shares shown are not intended to be targets for the City of Calgary. They represent likely growth given
existing assumptions and conditions. Numbers may not add up due to rounding.
Source: City of Calgary: Planning & Development, Calgary & Region Economic Outlook 2017-2026
18OFFERING PROCESS The Property is being marketed for sale without a list price by way of a conventional marketing process with offers being considered as received. However, following the initiation of the marketing program the Advisor may set a Bid Date. Contact the Advisor for pricing guidance and details pertaining to a potential Bid Date. ALL INQUIRIES REGARDING THE PROPERTY SHOULD BE DIRECTED TO: JLL CAPITAL MARKETS KEN WESTHAVER RYAN MURPHY jll.ca I 403 456 2233 JLL Capital Markets, Calgary JLL Capital Markets, Calgary Bankers Hall East Senior Vice President Senior Sales Associate Suite 3900, 855 – 2nd Street SW (403) 456-2209 (403) 456-5582 Calgary, AB T2P 4J8 Ken.Westhaver@am.jll.com RyanJ.Murphy@am.jll.com DISCLAIMER © 2020 Jones Lang LaSalle IP, Inc. All rights reserved. Information set out herein (the “Information”) has not been verified by Jones Lang LaSalle Real Estate Services, Inc., Brokerage and any and all of its real estate agents/staff, and to all other divisions of the company (collectively “JLL”). JLL does not represent, warrant or guarantee the accuracy, correctness and complete ness of the Information. Given the limitations of the investigations, inquiries and verification that JLL have undertaken, the reliability of this Information must be treated with a suitable degree of caution and neither JLL or any of their affiliates accept any liability or responsibility for the accuracy or completeness of the information contained herein and no reliance should be placed on the information contained in this document. JLL does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from JLL.
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