Work to install underground utilities on developable land in Capstone should be finished this fall, and construction is ahead of schedule on the neighbourhood's new 62-unit residential rental property.
Cory Edinga, Capstone project manager, said the new utilities will extend to parcels in the northern section of Capstone for future development.
"We do have some other developments that are in the works in those areas. Hopefully we'll be able to come out and announce at least one of them fairly shortly," Edinga said.
In January, Red Deer’s Sorento Custom Homes broke ground on The ALEX for its partner High Rise Properties Inc. The five-storey apartment building is located along Alexander Way, west of Carnival Cinemas.
Edinga said construction of The ALEX should hopefully be complete in the second quarter of 2025 and ready for the units to be leased.
"They seem to be making really good progress. All of the exterior walls are complete. The only openings on the building would be some of the upper storey windows and patio doors. But their plan is to have all that closed up by the end of the month."
Stacks of shingles have been lifted onto the roof. Work is also advancing on the rough-ins for plumbing, electrical and HVAC systems for the building's infrastructure.
The ALEX will feature a range of one and two-bedroom options, with rent starting under $1,000 per month.
Those interested in calling The ALEX home can visit www.highrisepropertymgmt.ca to be notified when rentals are available.
