- What Genesis has acquired 734 acres in Calgary
- Why Land is zoned for future urban development
- What’s next Deal includes option to buy an additional 106 acres
Genesis Land Development Corp. has bought 734 acres of land zoned for urban development in southeastern Calgary for $53.9m.
The Calgary-based company paid a $2.7m deposit, with an additional $9.1m due at closing on June 7. The remaining $42.1m will be paid in annual installments over the next four years.
Genesis also has secured an option to purchase 106 acres south of the site between Jan. 1, 2029, and Dec. 31, 2037.
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