Post by undervalueon May 08, 2025 1:12pm
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Post# 36566271
Silverdale ask prices. From MLS, realtor.ca
Silverdale ask prices. From MLS, realtor.caThere are 4 properties fairly close to Loftus Village for sale on the MLS.
3 listings are with Nault Realty, Nault has been doing a lot of the land deals in Silverdale for the past 5 to 10 years.
The ask prices should reflect some understanding of the market for raw land close to development.
My guess is that these sites might be in play 5 years out. The JV has to first sell and build 1300 units in Loftus.
As holders, we should understand the time issue. These for sale holdings are raw, un serviced.
Parcel 1 is ask 8.2 million for 9.9 acres. the site is aprox 3 quarters usable, one half for detached homes, 1 quarter townhomes. This works out to 1.1 million per usable acre.
Second site is 4.35 million for 4.7 acres, 925k an acre.
Third site is 6.49 million for 5 acres. 1.29 million an acre. This property can handle 50 townhomes and 12 single lots. That is 104k a door for raw land.
The 4th is 7.399 million for 5.6 acres, 1.32 million an acre.
It is important to note Silverdale sits in the Madison book value at 94k an acre.
The Polygon CEO in a recent interview said that Silverdale central would be 10,000 homes.
At 104k a door, JV is thru a billion of raw value, ignoring the clock, according to Nault ask prices.
The JV 1400 acres in central is 1.4 billion at these marks.
The homes at Archer green that the JV built 3 years ago are reselling for 735k for 1500 feet.
At Altus cost guide prices, 307k for construction, 30k for services and 28k for development charges.
There are significant JV margins to earn per unit. Hundreds of thousands for land and construction margins per townhome.