200 acres of wilderness along the Elbow River will be divided into 49 parcels, made up of an average of four acres of owned land

A residential development planned for the Springbank area will include 49 high-end properties over 200 acres of land.

Formerly zoned as agricultural land, the River Edge development consists of 200 acres of wilderness along the Elbow River. It will be divided into 49 parcels, made up of an average of four acres of owned land – 1.5 acres for the lot and 2.5 acres of shared green space. All lots have both river and mountain views and will form an architecturally cohesive community with a neighbourhood feel, according to developer Price, Boychuk and Jackson (PB&J).

For a monthly fee, the strata ownership model will allow for shared green spaces, snow removal, grass cutting, enhanced security and other amenities. The community will have its own water supply, use sustainable power generation and will have high-speed fibre internet.

“When you buy into this community, you own 1/49th of the green space where you will explore and play,” said Lyndon Boychuk, one of the partners in River Edge. “The shared community model gives residents the freedom to build what they want and have a vote in the direction of the community.”

The developers have also announced that Bōde, an online real estate platform, is the exclusive listing provider for the development which will connect buyers directly to the developer. The model includes lower real estate fees.

“It would seem contrarian to be developing high-end properties in this economy, but we know it’s such a special place and piece of property,” said Boychuk. “Our partnership with Bōde allows us to create such value for the homeowner because they can deal directly with the developer and save on realtor fees.”

Lot prices start in the mid $700,000s.

River Edge is accepting expressions of interest in the 49 lots, a portion of which may be auctioned off. The projected construction date is the fall of 2020 with move-in dates anticipated for the fall of 2021.

The developer has released aerial footage shown here of the site.

Mario Toneguzzi is a business reporter in Calgary.

© Calgary’s Business


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