Prairie Sky Multifamily Land (the “Property”) is a 13.49 acre development located in Sherwood Park, at the corner of Sherwood Drive and Provincial Avenue. The Property is comprised of three contiguous lots to be rezoned to High Density Residential (R5) within the Compact Development Policy Area. The zoning allows for a maximum allowable height of up to 12 storeys, 65% building site coverage, and 35% site allocation for surface parking. This represents a significantly more permissive configuration than neighbouring high-density zones, which commonly restrict building coverage to 40-60% and mandate resident parking in underground facilities. The Vendor is currently advancing site preparation to fully service the Property, with closing anticipated for Fall 2027.

The Property represents one of the most significant multifamily land opportunities to come to market in Sherwood Park — a submarket defined by limited competing rental inventory, strong household incomes, and a constrained forward pipeline. At 13.49 acres across three lots, the Property offers meaningful scale with the flexibility to be acquired in any combination of individual lots.