Edmonton

Group of property owners selling 10-lot block near Edmonton's river valley

Aging homes, an increasing real estate market, and an opportunity for more housing has led to a group of residential property owners to team up and list a whole block near Edmonton's river valley.

$12.5M-listing features the properties of 10 homes along Scona Road

A block of properties [bottom right] occupied by century-old homes along Scona Road, between 92 Avenue and 93 Avenue has been listed by a group of home and property owners for $12.5 million. (David Bajer/CBC)

A group of residential property owners have teamed up to list a whole block near Edmonton's river valley.

The $12.5-million listing includes nine homes along Scona Road, and another near the corner of 93rd Avenue.

"Basically, a group of owners ... decided that collectively it made more sense to sell these 10 homes as a package rather than individually," said David Schroder, a real estate agent with Maxwell Polaris who is assisting with the sale of the properties.

"Ideally for them, they just felt that instead of being sold individually and people putting up million-dollar houses, they just felt that they provide more housing to collectively sell in one group." 

$12.5M block of properties in Edmonton hits the market

3 months ago
Duration 2:05
A group of property owners have teamed up to list a whole block of properties near Edmonton's river valley.

Schroder says the age of the two-storey homes on the block was one reason for the owners deciding to sell the properties as one.

"Nine of the homes are over 100 years old and some of them, the effective life, the insurance companies have said in one case, six years, another 10 years," said Schroder. "So there's a limit to how long they can be occupied." 

Home sales have been booming in Edmonton to start 2022. The Realtors Association of Edmonton cites a 45.5 per cent increase in residential unit sales in March, when compared February.  Year over year, there was a 34.7 per cent increase when compared to March 2021.

The properties are currently zoned as RF2 low density infill, which only allows single-detached, semi-detached and duplex residential housing.

To potentially construct an apartment or high-rise development on the block, the future owner would have to apply for rezoning and to combine the lots.

Schroder feels the area could benefit from a potential seniors' housing development.

"I would love to see a building standing here that can actually perhaps redefine what development looks like having a portion of the building dedicated to seniors who might be living in the neighbourhood and love their neighbourhood and are reaching the point where they no longer can physically look after their properties or they have more house than they need," said Schroder.

The owners of 10 properties along Scona Road have teamed up to list the whole block together, instead of selling as individuals properties. (Travis McEwan/CBC)

Marty Majorowicz, a resident who lives near the properties listed, is intrigued by the joint listing but he would prefer the site to have homes that match the current character of the neighbourhood.

But he said the area has been in need of more nearby businesses after the Wild Earth Bakery and Cafe and grocery store closed about four years ago.

"If they do end up doing condos of some kind, maybe if there was some mixed-use commercial or something."

ABOUT THE AUTHOR

Travis McEwan

Video journalist

Travis McEwan is a video journalist who covers stories ranging from human interest and sports to municipal and provincial issues. Originally from Churchill, Man., Travis has spent the last decade working at CBC Edmonton reporting for web, radio and television. Email story ideas to travis.mcewan@cbc.ca.

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