Walton Global has sold a 340-acre development land parcel in northeast Edmonton to Qualico Communities.

The price of the parcel, known as Duggan Ranch, was undisclosed. The land is slated to become part of the Marquis master planned community currently being developed by Qualico.

At full build-out, Duggan Ranch is expected to comprise 1,700 new single-family homes and 24 acres of commercial and multi-family real estate development, said Scottsdale, Ariz.-based Walton.

The parcel sits next to the Edmonton Energy and Technology Park (EETP), which is part of the Alberta Industrial Heartland, Canada’s largest hydrocarbon- processing region. The EETP is slated to become one of Edmonton’s largest employment areas with up to 100,000 new jobs expected in the petrochemical, manufacturing, research and development and logistics sectors.

“The unparalleled location immediately adjacent to large current and future employment areas in both Alberta’s Industrial Heartland and the EETP is a key driver for growth,” said Rob Nixon, Walton’s senior vice-president of real estate.

“We believe this will significantly increase market demand for housing amenities in the already rapidly growing area where land supply has been historically constrained.”

Walton is eager to see the Marquis neighbourhood continue to flourish, Nixon added. Surrey, B.C.-based Qualico acquired 334 acres of Marquis from Walton Group in 2018 for residential development.

“The significant amount of amenities supports the trend of market share leaving the higher-priced properties in the northwest and southwest of Edmonton, which traditionally have had more natural amenity value than other areas of the northeast sector.”

Also in 2018, Walton sold186 acres of land, now known as Marquis West at Horse Hill Ravine, to local developer MLC Group.

The sale of Duggan Ranch represents Walton’s commitment to the region’s rapid growth, said the company. .Walton manages approximately 3,500 acres in Edmonton and continues to seek opportunities to support the Alberta capital’s business and residential development.

Photo: Courtesy of Walton Global