RICARDO RANCH LANDS - JLL ranch... · 2020. 2. 18. · the Ricardo Ranch Area Structure Plan (the...

RICARDO RANCH LANDSCALGARY, ALBERTA

Premier Residential Development Land Opportunity

LEGAL DESCRIPTION SITE AREA

1910908; 6; 1 75.07 Acres

1910908; 7; 1 19.94 Acres

NE-10-22-29W4M 160.00 Acres

1910908; 8; 1 153.30 Acres

1910908; 9; 1 121.00 Acres

Total: 532.31 Acres

THE OPPORTUNITYJones 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 developers (Brookfield Residential, Genesis Development Corp. and Genstar 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 planning details.

RICARDO RANCH LANDS - PREMIER RESIDENTIAL DEVELOPMENT LAND OPPORTUNITY

PROPERTY SUMMARY

Ricardo Ranch ASP

Subject Property For Sale

N.E1/4 SEC.10-22-29-4

1910908; 6; 1

1910908; 8; 1 1910908; 9; 1

1910908; 7; 1

2

INVESTMENT HIGHLIGHTS• The ASP is adopted by Bylaw and it secures the Property’s future as a typical residential neighbourhood

development • 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;• Given the Property’s adjacency to regional servicing infrastructure, development of the subject Property can

commence in the timeline similar to the adjacent lands;• 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-

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

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-USE DESIGNATION

S-FUD

COMMUNITYRicardo Ranch

TOPOGRAPHYGenerally flat upland, with a prominent

rolling esker and escarpement to the Bow River valley

LAND AREA532.31 Acres


4

Ricardo Ranch represents a “best in class” opportunity for

new community development in Calgary. It also represents an

opportunity to develop land with escarpment, mountain, and

river valley views, with access to parts of the Bow River Valley

not previously available for community use.

Deer

foot

Tra

il

Macleod Trail SE

178 Avenue SE

City Limits

City Lim

its

88 Street SE

Brookfield ResidentialProperties


Genstar Development

Company

Range West/Westcreek


Genstar Development

Company

Irene GhicaDeniau

Genesis Development

Corp.

Genesis Development

Corp.

Soutzo Soutzo

Province of Alberta

SoutzoSoutzo

Soutzo

Soutzo

Soutzo

Soutzo

MultipleOwners

MultipleOwners

MauricePaperny

MauricePaperny

EvansDevelopments

EvansDevelopments

Stoney Trail SE

City LimitsRicardo Ranch ASP


Seton South Health Campus

Seton Library

Brookfield Residential YMCA at Seton

22X

2A

8

201

2

560

22X

2A

Glenmore Reservoir

Red Deer Lake

NewBrighton

Seton

AuburnBay

Mahogany

CopperfieldMcKenzieTowne

SETON

MCKENZIE TOWNE

SOUTH TRAIL CROSSING

MAHOGANY

DanutaTrafford/

Rose-Isabelle Tarnowski

Ricardo Ranch ASP


Brookfield Residential YMCA at Seton

Seton Library

30 mins toDowntown Calgary

Ricardo RanchCalgary, Alberta

40 mins to Calgary International Airport

10 mins toSeton

Wide variety of retail in close proximately

Rapid transit access toSeton and Auburn Bay

LOCATION HIGHLIGHTS

RICARDO RANCH LANDS - PREMIER RESIDENTIAL DEVELOPMENT LAND OPPORTUNITY South Health Campus

Future Green Line LRT station at Seton

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.

LOCATION HIGHLIGHTS

Source: C2109 - Ricardo Ranch Business Case Report


6

Area Structure Plan

PLANNING OVERVIEWRICARDO 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

• The Property supports two Neighborhood Activity Centres which are to include a wide range of mixed use and com-mercial land uses.

LAND USE CONCEPT

COMMUNITY AND NEIGHBOURHOODS

Subject PropertyFor Sale


Source: City of Calgary, Ricardo Ranch Area Structure Plan


TRANSIT NETWORK



10

OWNERSHIP PROFILEDe

erfo

ot Tr

ail

Township Road 220

178 Avenue SE

City Limits

City Limits

120 Street SE

Range Road 290

88 Street SE

80 Street SE



Genstar Development

Company



Genstar Development

Company

DanutaTrafford/


Deniau

Genesis Development

Corp.

Genesis Development

Corp.

Soutzo Soutzo

Province of Alberta

SoutzoSoutzo

Soutzo

Soutzo

Soutzo

Soutzo

MultipleOwners

MultipleOwnersPaperny

Paperny

EvansDevelopments

EvansDevelopments

15

10

14

11

13 18

127

Deer

foot

Trai

l

Township Road 220Township Road 220Township Road 220

178 Avenue SE178 Avenue SE178 Avenue SE

City LimitsCity LimitsCity Limits

City Limits

City Limits

City Limits

120 Street SE

Range Road 290

88 Street SE

80 Street SE



Genstar Development

Company



Genstar Development

Company

DanutaTrafford/


Deniau

Genesis Development

Corp.

Genesis Development

Corp.

Soutzo Soutzo

Province of Alberta

SoutzoSoutzo

Soutzo

Soutzo

Soutzo

Soutzo

MultipleOwners

MultipleOwnersPaperny

Paperny

EvansDevelopments

EvansDevelopments

151515

101010

141414

111111

131313 181818

121212777





View looking southwest over a portion of the lower Plan Area.


12

Deer

foot

Trai

l

Township Road 220

178 Avenue SE

City Limits

City Limits

120 Street SE

Range Road 290

88 Street SE

80 Street SE

BrookfieldLand Use/

Outline PlanMarch, 2020

Genesis Land Use/


Soutzo Soutzo

Province of Alberta

SoutzoSoutzo

Soutzo10 11

12

Deer

foot

Trai

l

Township Road 220Township Road 220Township Road 220

178 Avenue SE178 Avenue SE178 Avenue SE

City LimitsCity LimitsCity Limits

City Limits

City Limits

City Limits

120 Street SE

Range Road 290

88 Street SE

80 Street SE

BrookfieldLand Use/


Genesis Land Use/


Soutzo Soutzo

Province of Alberta

SoutzoSoutzo

Soutzo101010 111111

121212



ADJACENT OUTLINE PLANS

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• 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-

cial uses contemplated within the ASP

STORMWATER MANAGEMENT



Sector data findings and forecasts | Part 3 3-33

Map 15: Southeast sector vacant residential land supply by servicing status as of October 2017The infrastructure shown on this map illustrates the requirements to service the entire Area Structure Plan.

!L

¬¬

!L

!

"E

"E

"E

SECTION 23

SOUTH FOOTHILLS

EAST SHEPARD INDUSTRIAL

SHEPARDINDUSTRIAL

RIVERBEND

DOUGLASDALE/GLEN

CRANSTON

AUBURN BAY

MAHOGANY

SETON

MCKENZIELAKE

MCKENZIETOWNE

NEWBRIGHTON

COPPERFIELD

RANGEVIEWASP

REMAINDER

GLENMORE TR SE

CP RAILWAY

114 AV SE

130 AV SE

52S

TSE

68S

TS

E

BAR

LOW

TRS

E

24S

TS

E

DEERFOO T TR SE

SETON BV SE

52ST

SE

MARQUIS OF LORNE TR SE

BOW

BOTTOMTR

SE

DEE

RFO

OT

T RS

E

212 AV SE

MACLEO

DTR

SE

B O W R I V E R

B O W

RIV

ER

BO

W

R I V E R

BO

WR

I

ARQUIS OF LORNE TR SE

D SE

FI S

HC

RE

EK

STON

EY

TRSE

CITYLIMITS

CITY

LIMIT S

CITY

LIMITS

CITY LIMITS

LANDFILLSITE

Pine CreekWastewaterTreatment

Plant

SOUTH SHEPARD ASP

SOUTH

EAST

tLegend

Future Water FeedermainFuture Storm TrunkFuture Sanitary TrunkFuture Sanitary Lift Station

# Future Pressure Reduction Station

" Future Reservoir

! Future Pump Station

Future Skeletal RoadFuture Arterial Street

Transportation Utility Corridor

!

³ Future Flyover

!L Future Partial Interchange

¬ Future Full Interchange

Needs Water Resources(water, sanitary or storm)

Needs TransportationNeeds Fire

Unserviced(no leading infrastructure in place)

Subject To ASP Approval(Will Include Residential AndNon Residential Uses)

Partially Serviced(some leading infrastructure in place, but not all five)

Serviced (all leading City infrastructure in place)(Fire, Transportation, Water, Sanitary, Storm Sewer)

Sector Boundary

Emergency Response Station"E

Source: City of Calgary, Suburban Residential Growth 2019-2023

SERVICING OVERVIEW


14

• 11 km, water feedermain, funded and under construction

• Trenchless crossing of Deerfoot Trail• Phase 1 connects at Cranston AV and

ends just past 72 ST (Future 52 ST)• Services for Rangeview and Ricardo

Ranch developments• Future Phase 2: ties to Phase 1 end

and connects to existing stub NE of Mahogany

• Services for WestCreek and Section 23 Developments

• 3.1 km, storm trunk, funded and under construction

• Outfall to Bow River, trenchless installation at escarpment

• Services central and east side of Rangeview and Rivardo Ranch Communities

• Storm trunk to convey “clean” stormwater

• Alighments on future 52 ST and future 212 AV

NEW SUBURBAN AREAS GROWTH FORECASTS 2019-2023

Source: City of Calgary, Suburban Residential Growth 2019-2023

MARKET DEMAND SUPPLYFigure 9: Total Population For Calgary (2008-2022)

1,246,337

1,322,800

1,000,000

1,050,000

1,100,000

1,150,000

1,200,000

1,250,000

1,300,000

1,350,000

2007 2009 2011 2013 2015 2017 2019 2021

Popu

latio

n

Year

Actual

Forecast

Source: City of Calgary: Civic Census, Planning & Development, Calgary & Region Economic Outlook 2017-2026

Total population for Calgary (2008-2022)

Source: City of Calgary: Civic Census, Planning & Development, Calgary & Region Economic Outlook 2017-2022

Southeast sector summary: 2013‐2017

This compares to the previous �ve year, where the Southeast sector attracted:

33%of the total suburban population growth, for 34,606 people.

27% of the total suburban population growth, for 18,479 people.

32%of the suburban total units.

28% of the total new housing units.

33%of single/semi units.

28% of new single/semi units

31%of multi-residential units.

28% of all the new multi-residential units

5,915 units

4,710 units

11,146 units

6,910 units

5,231 units

2,200 units

Southeast sector forecasts: 2018-2022

Current estimates are that, over the next �ve years new suburban areas will attract:

MARKET DEMAND SUPPLYThe Calgary Economic Region is estimated to grow by an average of 18,740 people per year. This represents an average annual growth rate of 1.2 per cent per year to 2022.

POPULATION

The CER held a population of 1,563,000 in 2017 and is projected to increase by 93,700 people to 1,656,700 by 2022. Calgary’s population forecast for 2022 is 1,322,800 accounting for 80 per cent of the region’s population, adding 76,700 people.

SOUTHEAST SECTOR SUMMARY: 2018-2022

Current estimates are that, over the next five years the sec-tor will attract:


16

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

Total Units - Forecast Estimates for Growth into New Suburban Communities

Sector Average Historical Share

Average Forecast 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

Forecast estimate of totalunits 2018-2022, City of Calgary and new suburban areas

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 re�ect the �ve year 2017-2021 blue growth bands in the SRG report Map 5. The last �ve year average of total units going into the new suburbs has ranged between 54 and 67 per cent. Forecast over the next �ve 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

FORECAST ESTIMATE TOTAL UNITS 2018-2022, CITY OF CALGARY AND NEW SUBURBAN AREA

MARKET DEMAND SUPPLY


The Southeast sector has historically been the

fastest growing sector in the entire city with 32%

of the market share.

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JLL CAPITAL MARKETSjll.ca I 403 456 2233Bankers Hall EastSuite 3900, 855 – 2nd Street SWCalgary, AB T2P 4J8

KEN WESTHAVER JLL Capital Markets, CalgarySenior Vice President(403) [email protected]

RYAN MURPHY JLL Capital Markets, Calgary Senior Sales Associate (403) 456-5582 [email protected]

ALL INQUIRIES REGARDING THE PROPERTY SHOULD BE DIRECTED TO:

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.

OFFERING PROCESSThe 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.

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