New rental units will hit the market in 2019 – Invest Medicine Hat

New rental units will hit the market in 2019

News / People / Real Estate

Seymour Pacific Developments breaks ground on two new apartment buildings

May 22, 2018

Construction of two new apartment buildings is well underway in the Southlands neighbourhood of Medicine Hat. British Columbia-based Seymour Pacific Developments is building the apartments in Medicine Hat as a result of market research indicating strong demand for rental units.

“This is the best location for our development in Medicine Hat,” says Kris Mailman, chief operating officer and vice president of Seymour Pacific. “It’s a growing area of the city with schools, amenities and retail nearby.”

The company is building 143 units across two four-story apartment buildings, to be managed by Broadstreet Properties. One, two and three-bedroom units are planned for the 160,000 square foot development. Community gardens, a dog run, and parking are also included in the plans. The future apartment buildings will be surrounded by a mix of multi-unit and single-family homes.

Vacant residential lots are filling up fast in Southlands. Only two lots of residential land remain listed for sale on the City of Medicine Hat’s website.

Southlands is adjacent to one of Medicine Hat’s major commercial nodes where several companies, including Meadowlands, South Country Coop, Canalta and Brentwood Developments, are at work on new hotels, a new grocery store, and related ancillary services.

Improved prospects in the oil and gas sector, coupled with strong exports in petrochemicals and increased manufacturing activity, have resulted in increased demand for residential and commercial development in Medicine Hat.

Additional confidence comes on the back of recent announcements by Aurora Cannabis and Hut 8 to locate major facilities in Medicine Hat. Aurora Cannabis plans to build a 1.2 million square foot cannabis production facility in the city’s north end. The $120 million project expected to create 450 new jobs. Hut 8, meanwhile, is investing $100 million into a data centre that is expected to create 42 new jobs.

“With new developments taking place in every corner of the city, there is a real sense of confidence in Medicine Hat right now,” says Ryan Jackson, CEO of Invest Medicine Hat. “New construction projects will result in new jobs across the city.”

Mailman expects the 143 new rental units will be ready for tenants in early 2019.