Avenue Living Sees Strong Growth Potential in Calgary

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Calgary's continuous population and economic growth have established favourable conditions for the expansion of companies like Avenue Living in the region.

Avenue Living, headquartered in Calgary, AB, takes pride in its ownership and operation of approximately 3,800 multi-family units in the province's largest city. Their recent acquisitions in the last quarter of 2023 boosted their market share to an estimated 7.2% of the primary rental market, culminating in their largest acquisition in the city to date.

Looking ahead to 2024 and beyond, the Calgary market is poised to benefit from substantial international and interprovincial migration, presenting Avenue Living with opportunities for further expansion. The company aims to grow its operations in the city by acquiring high-quality assets, with a specific focus on providing housing for the workforce housing demographic.

Calgary boasts promising market demographics as Canada's fourth-largest city, experiencing the most significant population growth in the country over the past decade. Between 2011 and 2022, the region sustained robust population growth of 23.9%, surpassing the national average of 11.10%. With a population of 1.6 million, the CMA region is expected to grow an additional 2.4% over the next four years, intensifying supply constraints and increasing demand for high-density, multi-family homes.

The city's youthful population, with a median age of 38.2, contributes to its innovative and energetic community, positioning it for sustained long-term growth.

In terms of industry and employment, Calgary's job opportunities were historically driven by the Oil and Gas sector. However, the economy has diversified in recent years, with stable sectors such as technology, energy, agriculture, healthcare, education, transportation and logistics, aerospace, and government. The tech sector, in particular, experienced remarkable growth, ranking Calgary second in North America for improvement from 2017 to 2022.

Notable employers in Calgary include WestJet, Shaw Communications, and the Canada Pacific Railway, offering a diverse range of employment opportunities for prospective residents.

Calgary's cultural diversity is another notable aspect, being Canada's third most diverse major city, home to over 240 different ethnic origins and 165 spoken languages. The city's Western culture is showcased through events like the "Greatest Outdoor Show on Earth" — the Calgary Stampede, held for 10 days every July.

For more information about Avenue Living and opportunities in Calgary, interested parties can contact the company by phone at 604.613.1693 or email me at [email protected].

Read the original article here: Investing in Alberta Real Estate | Calgary

This commentary and the information contained herein are for educational and informational purposes only and do not constitute an offer to sell or a solicitation of an offer to buy any securities or related financial instruments. This article may contain forward-looking statements. Readers should refer to the information contained on Avenue Living's website at https://www.avenuelivingam.com/forward-looking-statements for additional information regarding forward-looking statements and certain risks associated with them.?

#Calgary #AvenueLiving #RealEstate