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Parker: Graywood Developments finds right site for Calgary launch

Parker: Graywood Developments finds right site for Calgary launch
Business
Graywood Developments CEO Stephen Price and the company s local hire, Patrick Briscoe, director development/project management. Brett Gilmour / © 2017 Brett Gilmour

Stephen Price, chief executive of Toronto-based Graywood Developments, says he looked for some time for the right property on which to introduce his company to the Calgary residential market.

The former GWL Realty Advisors executive knows our city well and his research staff supported his belief in Calgary’s economic strengths and potential.

In business since 1985, Graywood has developed more than 25,000 housing units in several asset classes, including residential lots, single family, mid- and highrise condominiums, hotels and retirement residences. Among its prime properties is the 263-room Ritz-Carlton Hotel in Toronto.

Price has led the company for the past 10 years, largely focused on the Toronto area as well as Florida and Texas.

His first investment in Calgary is a 23-acre multi-family parcel at the former Shaw-Nee Slopes Golf Course purchased as a residential development site by Cardel Homes.

Phase 1 will be built on the northeast corner of the property near the Shawnee LRT Station and steps from Fish Creek Provincial Park.

Graywood’s plan for Calgary was to hire local knowledge and experience. It found both in Patrick Briscoe, formerly the senior development manager for Genstar’s south Calgary projects, which included Shawnee Slopes and lands in the communities of Waldon and Rangeview. Briscoe also spent six years with WestCreek Developments prior to Genstar.

Graywood’s director of development and project management, Briscoe has worked alongside Norr Architects on the design of the buildings in the initial phase that will include 100 condominium units and 42 two-storey town houses with construction management by Morrison Homes.

A sales team is being assembled as is construction of a presentation centre to open in June.

Shawnee Slopes is a 10-year project for Graywood that will eventually total 800 units. They’ll be added to Cardel’s single-family homes, with the 132-acre development a big boon to the many retail establishments along the strip of the south portion of Macleod Trail.

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