Although Deep Cove Ventures is currently more focussed on residential rental property acquisition and management, its history is in multi-family residential development project management and ownership.
From 2010 – 2013, Deep Cove Ventures was 50% owner of Highstreet Ventures Inc., a multi-family residential developer focussed on the development of wood frame rental apartment buildings, condominiums, and townhomes in Western Canada, with projects in Airdrie, Edmonton, Fort McMurray, St. Albert, and Yellowknife.
During Deep Cove’s tenure with Highstreet, Deep Cove was involved in the development of:
- Copper Sky Condos in Yellowknife (72 condominiums and 9 townhomes);
- Northridge Village Apartments in St. Albert (96 rental apartments);
- Niven Heights in Yellowknife (88 condominiums and 30 townhomes);
- Sunset Valley Apartments in Edmonton (128 rental apartments);
- Belvedere Apartments in Edmonton (12 affordable rental apartments built with a grant from the Province of Alberta)
- King’s Heights Apartments in Airdrie (192 rental apartments);
- Brintnell Landing Apartments in Edmonton (160 rental apartments); and
- Heritage Landing Condos in Fort McMurray (96 condominiums)
For the above noted projects, Deep Cove assisted in raising over $35,000,000 in equity.
In addition to raising capital, Deep Cove provided development project management services to Highstreet focussed on development strategy, development management, city and product selection, land acquisition, investment structure, debt financing, marketing, sales, sales disclosure, customer service, and property management.