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Case Study: James’ Triumph with Bowness Revival #7 Multifamily Investment

In Calgary’s dynamic real estate market, astute investors like James are seizing multifamily build-to-rent opportunities to achieve substantial returns and drive community growth. Pro Reliance Builds, with over 25 years of industry leadership, collaborated with James to deliver Bowness Revival #7, a 10-unit multifamily project in Bowness. This case study highlights James’ strategic investment, the project’s financial success, and Bowness’ appeal for multifamily developments, leveraging Calgary’s 2024 R-CG zoning and CMHC financing.

James’ Strategic Investment

James, an investor focused on long-term cash flow, selected Bowness Revival #7 for its build-to-rent potential. Situated on an 8,300 sq. ft. H-GO zoned corner lot, the project comprises five rowhomes (6,200 sq. ft.) and five legal basement suites (3,029 sq. ft.), totaling 10,991 sq. ft. Using a 50-year CMHC MLI Select Program loan, James optimized financing to ensure strong returns over a 15-month construction cycle. The project capitalizes on Calgary’s 2024 R-CG rezoning, which streamlines approvals for high-density developments.

Bowness: A Hub for Transformation

James chose Bowness for its strategic location and growth potential. Just 15 minutes from downtown, this established neighborhood is experiencing a revitalization surge, with 11 infill projects on the same street as Bowness Revival #7. Its proximity to Bowness Park and robust rental demand ($1,600/month for 1–2 bedrooms) make it ideal for multifamily investments. The H-GO zoning allowed James to develop 10 units without rezoning delays, unlike areas with restrictive HOAs like Harvest Hills. Bowness’ average sale price ($800,000 for an 1,800 sq. ft. unit) supports significant asset appreciation.

Financial Highlights: Exceptional Returns

James’ investment in Bowness Revival #7 showcases the profitability of build-to-rent multifamily projects:

  • Total Project Cost: $3,055,000
    • Land: $750,000
    • Construction (5 rowhomes + 5 suites): $2,200,000
    • Subdivision and Management Fees: $105,000
  • James’ Capital Investment: $350,000 (equity)
  • CMHC Loan: $2,705,000 (50-year MLI Select)
  • Annual Rental Income: 10 units × $1,400/month × 12 = $168,000
  • Annual Loan Payments: $114,000
  • Gross Yearly Income: $54,000 (13–15% return on equity)
  • Post-Completion Asset Value: $4.1 million
  • Asset Value Profit: $1,100,000 (36% increase over cost)

The CMHC MLI Select Program’s low-interest terms enhanced James’ cash flow, while Calgary’s rental market ($1,200 for 1-bedroom, $1,600 for 2-bedroom units) ensured stable tenancy in Bowness’ evolving landscape.

Construction Process: Precision and Compliance

Pro Reliance Builds completed Bowness Revival #7 in 15 months, adhering to Alberta’s Safety Codes Act:

  1. Design and Permitting (10–12 weeks): James approved tailored rowhome and suite designs, securing development (60 days) and building permits (2–4 weeks) under R-CG zoning via ePermit.
  2. Site Preparation and Foundation (2–4 weeks): Excavation, concrete pouring, and water/sewer hookups met inspection standards, establishing a solid foundation.
  3. Framing and Structural Work (3–5 weeks): Load-bearing walls, roof trusses, and initial rough-ins were verified for structural integrity.
  4. Weatherproofing and Rough-Ins (4–6 weeks): Energy-efficient roofing, windows, and plumbing/electrical systems complied with codes.
  5. Drywall and Painting (2–3 weeks): Smooth interiors were prepared for finishes, passing quality inspections.

Interior and Exterior Finishes (4–6 weeks): Hardwood flooring, tiled bathrooms, and exterior hardscaping finalized the project, with suites registered in the Secondary Suite Registry.

Start Your Investment Journey Today

Follow James’ lead and unlock Calgary’s multifamily potential with Pro Reliance Builds. Contact us at (403) 452-2972 for a complimentary consultation or download our Multifamily Investment Guide at proreliancebuilds.ca to explore high-return opportunities like Bowness Revival #7.

Launch Your Multifamily Investment Today

Capitalize on Calgary’s multifamily boom with Pro Reliance Builds. Contact us at 587 930 9289  for a complimentary consultation or download our Multifamily Investment Guide at proreliancebuilds.ca to explore high-return opportunities like Project 4.

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