The MCAP Development Financing Group is excited to share an upcoming development project coming this summer to the inner-city community of Glamorgan in Calgary, Alberta.
The Glamorgan Landing Estates project, by the Calgary boutique real estate developer Spray Group, features 278 purpose-built rental units in two residential buildings and is the largest project undertaken by the Spray Group to date. The Spray Group is a long-time established sponsor MCAP has had the pleasure of working with in the past, and to which we have provided development financing on various occasions. For this new development in Calgary, MCAP has committed construction financing for the amount of $54,000,000 to the Spray Group.
Located at 4850 50th Avenue SW, the Glamorgan Landing Estates development is the first new project in the community of Glamorgan in over 20 years. The project features one-, two- and three-bedroom rental units ranging from 610 to 1220 sq ft and boasts a fully equipped gym and social room with expansive decks and patios.
For more information on Glamorgan Landing Estates, visit the Spray Group website at spraygroup.ca/projects. And to learn about how MCAP can assist with the construction financing of your next project, click here.
