Auctus Property Fund X is a limited partnership formed to invest in the development, construction and operation of a new multi-family apartment development in the Brentwood neighbourhood of northwest Calgary. Auctus X has entered into an agreement with Primaris Management Inc., to co-redevelop the Northland Village Mall and proximal lands. The mall will be transformed into a mixed-use community with apartments, office space and retail. Under the agreement, the Auctus X will be responsible for densifying the site with 229 multi-residential suites. Primaris will redevelop the mall to include approximately 400,000 square feet of retail and office space, estimated at over $200 million.
This project is currently under construction adjacent to the east of the Northland Village Mall. Positioned between John Laurie Boulevard to the north, Crowchild Trail to the south, Shaganappi Trail to the west, and Nose Hill Park to the east, residents of this new apartment community will enjoy proximity to a Light Rail Transit (LRT) station, retail outlets, the University of Calgary, SAIT, Foothills Hospital, as well as Nose Hill Park. In addition, the neighbourhood is a 15 to 20 min drive to downtown Calgary.
When complete, the apartment community will offer a mix of one bedroom, two bedroom and three bedroom units over two 6-story buildings, both of which will include underground heated parking. The project will place an emphasis on building a vibrant apartment community with modern amenities and services, including a two storey fitness facility and resident lounge.
- Auctus X is a 229-unit, highly amenitized, premium apartment community complete with a resident lounge, commercial grade fitness centre, underground parking and pet wash station
- There are a variety of floor plans, offering one, two and three bedroom suites
- The development is immediately adjacent to over 400,000 square feet of retail and office space, allowing residents the opportunity to work, shop, exercise, and socialize right where they live
- The northwest Calgary location offers many conveniences, with close proximity to Light Rail Transit (LRT) station, malls, the University of Calgary, SAIT, Foothills Hospital, as well as Nose Hill Park
- This fund is fully subscribed and no longer accepting subscriptions for investment
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Deveraux currently has over $750 million of real estate related assets under management.