Spray Group has completed construction on a new $44.4-million apartment complex in Calgary’s Glamorgan neighbourhood.
The development is located at 4850 50th Avenue S.W., and includes two low-rise apartment buildings containing 278 rental units and a separate amenities.
The residential units include one-, two- and three-bedroom suites, and a separate structure housing amenities. Spaces range from 610 to 1,200 square feet.
The other building features a fully equipped and social room with surrounding patios and decks. Construction took two years to complete, according to the Alberta government’s major project’s website. The project was 65% preleased, Calgary-based Spray stated on its website.
The development joined a number of Alberta multi-family real estate projects that have come on the market recently.
Eagle Builders delivered the Century Gardens building in Edmonton at an estimated cost of $49.3 million. Other new Edmonton projects included Westrich Pacific’s 159-unit West Garneau project and Maclab’s 20-storey Laurent student rental-housing tower adjacent to the University of Alberta.
Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate.
Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s.
In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star.
Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.