RENX.ca - Hungerford acquires Edmonton’s Royal Alex Place

Posted on July 28, 2016

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Long-term thinking and avoiding reliance on the oil and gas industries were behind Hungerford Properties’ recent decision to purchase Edmonton’s Royal Alex Place.

The 11-storey building, with 44 residential units and three storeys of commercial space is in the downtown at 11112 101 St. NW. It’s close to the Royal Alexandra Hospital, one block from a new Metro light rail transit line station, within walking distance of Kingsway Mall and six blocks from the new ICE District that includes Rogers Place (the new home of the Edmonton Oilers hockey team), an outdoor concert area and other future developments.

“We like the neighbourhood and the correlation of demand for the property with the hospital,” said Hungerford Properties partner Michael Hungerford.

“We see a lot of hospital workers and related businesses in the health services industry in the building and neighbourhood already, and we like that in a market that has some challenges with oil and gas-related businesses. We have some insulation from that.”

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