Jandip Deol Phone: +1 780 278 2791 Email: [email protected]
For questions about municipal activities such as zoning, land-use, permits, incentives
Jason Swanson, Manager of Communications and Economic Development, Town of Slave Lake 780-849-8000 | [email protected] https://www.slavelake.ca
For questions about government programs and investing in Alberta Email: [email protected]
Overview See Full Listing
Building Overview

Slave lake is one of Canada’s youngest communities with a current population of 6,377 people, an increase of 2.8% from 2016. Increasing energy prices over the past 18 months have accelerated capital and maintenance spending in the region, resulting in increased labour demand and a rebound in the housing market. This is manifesting as increasing population and decreasing rental vacancy.



  • AFFORDABLE AND GROWING TERTIARY MARKET:
  • The average two-bedroom rent in Slave Lake is $1,307 and is lower than comparable energy markets; Fort McMurray ($1,384), Fox Creek ($1,882) and Black Diamond ($1,500). Paired with a high median household income of $109,000, Slave Lake is positioned to see steady and significant rental upside.
  • GREAT HISTORICAL OCCUPANCY AND FUTURE RENTAL UPSIDE:
  • Two of the largest assets in the portfolio operate as affordable housing projects with grant funding through the Province of Alberta. This has resulted in a steady flow of potential renters within the community and higher than average historical occupancy. Both Cornerstone Apartments and Thompson Landing are required to be affordable projects until October 2033 and April 2028, respectively. After these dates, the properties can move to a market rent structure, providing significant future upside of 10% plus market growth.
  • IMMEDIATE SCALE WITH CLOSE PROXIMITY:
  • The portfolio provides the opportunity to acquire 69% of the total multifamily market in Slave Lake. The portfolio is also an efficient scale supporting one full-time property manager, one full-time building manager, one full time janitorial and subcontracting for mechanical systems only.
  • CONSTRICTED SUPPLY AND HIGH DEMAND:
  • Currently, Slave Lake hosts 362 rental units and has not experienced a new multifamily development in more than 5 years. As of February, Cornerstone Apartments has a waiting list of 35 applicants and Thompson Landing Apartments has a waiting list of 10 applicants. The constricted supply coupled with a growing population has led to intensifying demand.

Details
Available Space: 20379ft²
Price: $39,424,500
Location Street Address: 1581 Main Street Southeast
Lease Type: direct
Space Types: Office
Building Size Sf: 20379
Building Name: Slave Lake Portfolio
Property Types: Office

Brochure(s)
Infrastructure Details
Note: distances are in straight line, rather than driving distances
Nearest highways:
  • Highway 2 - Less than 1 km (High Load Corridor)
  • Highway 88 - 1.25 km (High Load Corridor)
  • Highway 754 - 30.58 km (High Load Corridor)
Nearest hospital:
  • Slave Lake Healthcare Centre - 2.09 km
Nearest airports:
  • International: Edmonton International Airport - 232.12km
Nearest powerlines:
  • ATCO - 6L73 72kv - 0.31 km
Nearest substations:
  • SLAVE LAKE - 745S , ATCO - 1.52 km
Nearest irrigation systems:
  • Within 463.18 km
Nearest railways:
  • Canadian National, Class : Main - 1.43 km
Nearest gas franchise area:
  • ATCO Gas - Town Of Slave Lake
Nearest Power Plant:
  • Slave Lake (SLP1), Millar Western Forest Products ULC - 16.87 km
    Biomass and Other, 9 MW
Fibre Internet Availability:
  • Ready/Available
  • Availability is estimated. Contact an internet service provider for more information.
Nearest Rail Terminals
Type Name Operated By Types of Products Shipped Distance
Yard CN Westlock Yard Canadian National
137.47 KM
Grain CN Westlock Grain Terminal Westlock Terminals Ltd.
  • Grain
137.31 KM
Yard CN Wabamun Yard Canadian National
191.76 KM
Grain CN Morinville Grain Terminal G3 Canada Ltd.
  • Grain
177.25 KM
Grain CN Morinville Grain Terminal Westmor Terminals Inc.
  • Grain
177.62 KM
Highways
Airports
Railways
Rail Stations
Powerlines
Substations
Irrigation
Community Economic Highlights: Slave Lake, AB
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Slave Lake boasts a youthful average age of 34.6, significantly younger than Alberta's average of 39.
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With a median family income of $122,000, Slave Lake's prosperity surpasses the Alberta median of $96,000.
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Slave Lake Healthcare Centre is located in Slave Lake.
Community Economic Details: Slave Lake, AB
Click on a tile to open the indicator page and view more details.
See Regional Profile
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