That will be planned on the completion of the extension of 17th Avenue across Macleod Trail, giving direct pedestrian and vehicular link access into the Stampede grounds, the BMO Convention Centre expansion and the Victoria Park/Stampede LRT station redevelopment. Vesuwalla is working with a restaurant group and fitness operator to take over the spaces, but the location is ideal for future development as a multi-storey commercial-residential building. 33-acre site has drive-in overhead/roll-up doors, existing office and retail showroom improvements, and highly usable and accessible lower level space. The first purchase - in cash - by the new fund is the former Economy Glass building at the corner of 17 th Avenue and Centre Street S.W. A second round is scheduled to close at the end of this month. “And cash is still king.”Īcumen Capital Partners handled the equity raise and the first round of financing closed last month. “Successful real estate ventures result from being able to find appropriate investments and having the ability to purchase right away,” says Vesuwalla. Last month, Vesuwalla embarked on a fourth - the Clearview Alberta Opportunity Fund - with a goal of raising a pool of equity that will allow his company to act quickly when commercial real estate opportunities arise. Mission 19 is a luxury 67-unit apartment block that will welcome tenants this fall, designed by Gravity Architect and being built by Triumph Construction in the trendy Mission District at 320 19 th Avenue S.W. The third fund launched in 2022 resulted in a residential project in partnership with NAI Advent.
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