Sylvan Lake Land for Sale
* Welcome to this tranquil, quarter-section, situated in the heart of the Central Alberta Region on Highway 20 and cornering onto Township Road 391 in Red Deer County. To the west is the Summer Village of Jarvis Bay, to the north is TWP Road 391, to the east is the Lakewood Golf Resort and to the south is open farmland which stretches 0.8 kilometers to the town of Sylvan Lake.
* This Property is located 25 minutes west of Red Deer, and 90 minutes from Calgary and Edmonton.
* The best use of this property is to build a Potential of 950+ units through a mixture of fee simple lots (600 units) and condominium developments (360 units).
* Currently there is a 340 Resident Structural Plan which includes 80 single family homes, 260 duplexes, one social care and 2 commercial lots. There is an updated structural plan which is about 8 months from completion tat accommodates up to 950 units.
* The lots consist of about 40% lakeview lots, 15% park side lots, 15% Golf Course views lots and 3% that border pristine wetlands. The balance of lots are interior lots.
* The Zoning is for Residential Low-density District “R-3” and Direct Control District No.25 “DCD-25” and deemed that the subdivision as proposed complies with The Municipal Government Act, The Municipal Development Plan, The Sylvan Lake/Red Deer County Intermunicipal Plan, The Sanbar Local Area Structure Plan and The Land Use Bylaw.
* Please see the Local Area Structure Plans. The Planner, Stantec, says are about 8 months away from full approval.
* The current property has an old farmhouse which is being leased as an Airbnb, a surface well with lease agreements and leased farmland.
* Much of the due diligence has been completed and includes Traffic Studies, Environmental, Geo-technical reports, Bio-physical Impact, Soil Testing, Water and more.
* The community supports this project. There have been talks with the local governing bodies regarding services. The water reservoir is located just above this property on the northwest corner of this quarter section.
* The main features of this land include the proximity to the lake, golf course and town and the stunning views.
* This is an ideal opportunity for a companies that would take over a project that is underway. (Real Estate Developers, Healthcare Real Estate Investors, Hospitality Developers, Specialized Land Brokers, Investment Groups & Private Investors, Agriculture Developer)
* Sylvan Lake has had great growth and development since 1990s with the main growth industries being gas, petrochemical, manufacturing and value-added industries. Recreation and tourism remain important as Sylvan Lake is a major lake in the area and is a popular destination for tourists from around Alberta, with around 1 million visitors each year. It has a strong seniors retirement community.
* The Appraisal Prepared by Cushman and Wakefield in October 2023 outlines in detail why Sylvan Lake and Central Alberta is an amazing development location in Canada. There is great community support, strong migration and industry growth (oil and gas, manufacturing, tourism and agriculture).
* The 2023 appraisal supports a list price of $7.39m for the land and over $12m for an approved development plan in place.
* The Projected historic returns on investment (ROI), net operating income (NOI), cap rate and estimated cost for development are discussed in the Appraisal Prepared by Cushman and Wakefield in October 2023.
* The initial structural plan is being amended by Stantec to increase densities and eventually have the property annexed into the Town of Sylvan Lake the potential financial benefits are to be determined. There is great potential for the right investor.
* The main benefit of this site is the location and the views. This is a very desirable Lake Community in one of the strongest economic Provinces in Canada. WE expect great growth in the retirement and recreation sector of this community.
