Edmonton CDC has purchased Wyser Manor, an 11-unit apartment house in the heart of McCauley.
Well-maintained and operated by the previous owner for years, this 100-year old plus home offers affordable rents to tenants (some of whom are living off a pension). The CDC has had its eye on this property for the last couple of years, and when it came up for sale at the “right” price, we didn’t hesitate to make an offer, which was promptly accepted.
Rents will be maintained at current levels for the next year at least, and any increases in the future will be minor to address inflationary costs.
Wyser Manor had once been a boarded-up, derelict property for four years in the late 1990s when Wyser Contracting bought it and undertook major renovations to turn it into the fine building it is today. It was a tremendous contribution made by the Wyser family that not only saved a beautiful house but created micro-units that offer another lifestyle option. The Edmonton CDC is proud to carry on with the vision of its previous owners.
In addition to working on major developments in McCauley, Alberta Avenue, and Fraser, the CDC looks to make purchases of existing housing or develop smaller scale builds that benefit urban core neighbourhood and provides quality housing for residents.
The CDC has purchased two other lots in McCauley for development into market affordable housing and we are working to add properties in the Alberta Avenue District for the same purpose.