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Veritas Praedium Canada (VPC) is going to develop three land sites totaling 31,650 SQFT in Calgary’s inner-city bustling community of Mission.
Mission has one of the highest rents in Calgary and is recognized in the city as a culture, food and entertainment hub. Its historic buildings, parks, cafes and impressive collection of pubs, bars and boutique shops attract many people with its European flair.
The investment strategy is to develop a 5-story building with 48 rental residential units as well as 6,500 SF of retail space.
Assuming a sale at the end of year 4, investors are expected to achieve an IRR of 21% as well as an equity multiple of 2X.
Disclaimer: The above return projections are provided for informational purposes only and do not constitute an offer or commitment of any kind by Veritas Praedium to obtain an internal rate of return on its investment, or to pay dividends or provide returns on capital. All investments are subject to risks and potential losses. Past investment performance is no guarantee of future price appreciation or performance. All investors are advised to carry out their own independent research. Veritas Praedium, its affiliates and employees did not provide tax, legal or accounting advice. For accounting, tax, legal and business advice, you should consult your professional advisers.
Project Name
La Mission
Number of Stories
5
Residential Units
48 units
Residential Leasable Area
25,500 SF
Retail Leasable Area
Retail Leasable Area
Developer
Larch Development – VPC Company
Construction Manager
CASO Builders (VPC)
Management
Veritas Praedium Canada (VPC)
Construction Start
September 2025
Completion
Q1 2027
