Holyrood Gardens & Holyrood Boulevard
The Holyrood Gardens site is located on 85th Street between 90th and 95th Avenue. The site, consisting of 186 townhomes (built in 1953), was purchased in 1990. Since 1990, the townhomes of Holyrood Gardens have maintained a low vacancy rate and provided a strong income stream.
The site represents a prime urban infill redevelopment opportunity due to its proximity to downtown Edmonton and its location within the well-established south-central neighbourhood of Holyrood.
In 2003, a redevelopment plan was approved (see link below), and 26 townhomes were removed to make way for construction of the first phase of the development plan. The first phase, Holyrood Boulevard, consisted of two residential buildings totaling 96 units. Consistently fully leased, Holyrood Boulevard is a strong component of Westcorp's residential portfolio.
In 2007, there were initial discussions with both the City of Edmonton and the Holyrood community regarding new ideas for redevelopment of the balance of the site, but no formal plans were submitted to the City of Edmonton. The development concept at that time envisioned a mix of uses which included retail and senior's and market rental housing.
In January, 2011, the City of Edmonton approved the Southeast LRT Concept Plan which includes a neighbourhood transit station along 85 St. With the site located along an LRT route, and with a transit station envisioned directly alongside the existing Holyrood Gardens townhomes, any redevelopment plans will now to be subject to Transit Oriented Development Guidelines.
It is Westcorp's intention to resume planning for redevelopment, especially in light of the need to coordinate planning of the site with the proposed LRT line. Community consultation will be an important part of the planning and application process and, throughout that process, updates and information will be provide on this webpage.