Walton Global Closes on 340-Acre Sale Tagged for Residential Development in Edmonton
Walton Global, a real estate investment and land asset management company and sponsor of private placement investments, reported the sale of nearly 340 acres in Duggan Ranch, a land assembly positioned for residential development in northeast Edmonton, Alberta.
As part of the Marquis Master Plan, Duggan Ranch was sold to Qualico Communities, which specializes in homebuilding, land and commercial development, property management, and building material supplies. At full buildout, the property is expected to host over 1,700 new single-family homes and 24 acres of commercial and multifamily development. The plan will also include green spaces, multiuse paths, playgrounds, and other community infrastructure.
The neighborhood is located in northeast Edmonton, ideally situated in one of the city’s three urban growth areas. The parcel is adjacent to the Edmonton Energy and Technology Park, which is part of the Alberta Industrial Heartland, Canada’s largest hydrocarbon processing region. The EETP is planned to become one of Edmonton’s largest employment areas with an anticipated 80,000 to 100,000 jobs created in the petrochemical, manufacturing, research and development, and logistics industries.
“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, senior vice president of real estate for Walton Global. “We believe this will significantly increase market demand for housing amenities in the already rapidly growing area where land supply has been historically constrained.”
According to Walton, residents of Duggan Ranch will enjoy proximity to a variety of popular shopping, dining, and entertainment options in northeast Edmonton. The land also has significant natural and environmental attributes, including its proximity to the North Saskatchewan River valley and ravine system and Horsehills Creek, which provides a variety of recreation, education, and conservation choices not available in the northeast sector, outside of the Marquis Master Plan.
“The larger Marquis master planned community has already seen impressive development by Qualico, and we’re eager to see this neighborhood continue to flourish,” continued Nixon. “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.”
Following this purchase, Duggan Ranch will join the Marquis community that is currently being developed by Qualico. Some 334 acres of this master plan was acquired in August 2018 from Walton for residential community development, which is now known as Marquis. Some 186 acres of residential land was purchased by another prominent residential real estate company in 2018, MLC Group Inc. The area is now known as Marquis West at Horse Hill Ravine.
Walton said the sale of Duggan Ranch represents its commitment to the region’s rapid growth. Walton and its team of real estate professionals manage over 3,500 acres in Edmonton and continue to seek opportunities to support the city’s business and residential development.
Earlier this year, Walton closed on sales within the United States: 76 acres for a master planned community in Central Florida, and 140 acres near Austin.
Walton is a privately-owned, land asset management and global real estate investment company with more than 90,000 acres of land under ownership, management and administration in the United States and Canada, totaling $4.37 billion. With more than 45 years of experience, Walton has a proven track record of land investment projects within the path of growth in the fastest-growing metropolitan areas. A total of $2.5 billion has been distributed to investors located in 86 countries.
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