CoryCo Properties Inc.

5 months since the development application with the City of Calgary, Local Area Planning (LAP) has completely revised my vision (check my last post for the original application). LAP wanted street facing building orientations and after a few city meetings option B was verbally approved. Now we can move forward and redesign the entire project. Target build start is still May 2025!! Which layout would you chose?

Development permit application officially submitted yesterday, 12 units plus 4 secondary suites. 16 doors Highland park. Phase 1 May 2025 target !!

Revised feasibility / Prelim. Schematic Drawing, the last one was from 2022 and a lot has changed since then. With the high demand for housing and zoning changes, I can fit 16 units in this project oppose to the original 12, sacrificing some parking. This was feasible in 2022 just not very appealing so I shelved it. With real estate prices increasing an average of 1.5% a month and now 4 extra doors it makes a lot more sense to proceed. Additionally, one of the original site houses should have been demolished 14 years ago when purchased, before Calgary real estate crashed. Phase 1 target start May 2025!!

Maybe I shouldn't be property managing !! If you're looking to rent a place... read the entire description instead of tapping on the generic inquiry button. Same as " Is this still available on the fb marketplace " button !! I've never had one of those inquiries result in a tenancy!! Give the landlord an overview or intro of who you are. If you're not including the supplied application form!! In this case, as the description requests.

Typically, I don't even reply anymore.

105.2% sellers market... insane !! What I'm really focusing on is the row houses similar to my highland park project. Up 20% from last year, almost 3% since last month. Interest rates haven't even dropped. For simple calculations. If you have a 1M$ property and it increases 3% a month. You're looking at 425k profit in 1 year !! On a 10M project valued today. You're up 4.257M $ In 1 year before it's even built, and another year later add 6M. So 2 years later that 10M project is worth 20M.