The Alliance, a company that offers residential roofing and storage services in Calgary, announced plans to buy an existing residential roofer in the Calgary area.
The move is part of the company’s push to grow its portfolio of residential rental properties in Calgary.
“We’ve always been committed to growing our residential residential rental portfolio,” said Andrea Gaudet, vice-president and general manager for Alliance Residential.
“We’ve added several properties in the past year, and this move is another step in that direction.”
The company currently operates three residential properties in and around Calgary: the 7,500-square-foot home in Westwood, a two-storey home in South Edmonton and a two and a half-storeys home in Sherwood Park.
The two properties have been owned by Alliance Residential since 2015, when the company acquired the Sherwood Gardens and Sherwood Terrace properties in Eastwood.
The Sherwood Parks and Gardens property is a two storeys home with a 2,400 square foot ground floor and a 4,600 square foot second floor.
The new home will be located on the east side of Sherwood Drive, between the South Edmonton Road and Sherbrook Drive.
The home will include a 7,800-square foot basement, two bedrooms, one bathroom and a 2-storeyr roof, Gaudett said.
It will also include a 2.5-storery deck with a 12-foot walk-in shower and an 8-foot pool with water play area.
Gaudet said the new home is a three-storeyt home, which is what the company will sell to a developer.
The company has a 10-year lease on the Sherbrook Gardens property.
“This property is located in an area that has high rental vacancy rates, and it’s a great opportunity to be able to develop and expand our portfolio,” she said.
“In addition, it has a high-quality property and the amenities that we offer.”
Gaudette said the company is looking for a developer to buy the property.
The current owner of the Sherburn Gardens property, the City of Calgary, is seeking to sell the property for $1.2 million.
The Alliance Residential company is a division of the Alliance Group, a real estate and investment firm.
The Alliance Group has a presence in several cities in Canada and the United States.
The Alberta government announced plans in March to build a new residential complex in the downtown Calgary area and an apartment tower in the southwest area of the city.