video1.0<iframe src="https://www.loom.com/embed/add1237877a14b04a4c97ced029b4ab4" frameborder="0" width="1920" height="1440" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>14401920Loomhttps://www.loom.com14401920https://cdn.loom.com/sessions/thumbnails/add1237877a14b04a4c97ced029b4ab4-aac84e35de62f8f8.gif118.941This Loom reviews a potential rental development concept for 8307 109th Street in Edmonton’s Garneau area near the University of Alberta. The presenter notes Garneau is one of Edmonton’s strongest rental markets, with about 80% of residents renting and smaller household sizes, and proposes a 69-unit building weighted toward one-bedroom units with a mix of studios and two bedrooms plus a handful of larger units on the sixth floor. For underwriting, they assume $3.8 million land value and wood frame construction, resulting in about $23 million total development cost and approximately $1.25 million stabilized NOI, with a 5.4% yield on cost and estimated market value around $25 million. They then outline modeling CMHC or conventional financing, using conventional financing at 75% loan-to-cost and a 25-year term.