Aspen Grove Compressed

ASPEN GROVE
Aspen Grove Developments
Aspen Grove Developments Ltd. 1-403-701-1313  

aspengrove.ca 9011 33rd ave NW, Calgary, AB
ASPEN GROVE
ASPEN GROVE DEVELOPMENTS 1

Overview 3
Property 4
MAP 4
BLUEPRINTS 5
EXISTING AND DEVELOPMENT 7
Business 8
RENTS 8
COSTS & REVENUE 8
RETURN ON INVESTMENT 8
Future development 9
PARTNERS 30
Appendixes 31
ECONOMIC DEVELOPMENT FOR DAWSON CREEK 31
COST BREAKDOWN PER MONTH 32
RETURN ON INVESTMENT 33

ASPEN GROVE
OVERVIEW
Aspen Grove Developments Ltd is Alberta based company currently owning property in Dawson Creek, BC with 6
units in a residential rental community and the ability to develop another 18 units on the property. It is currently
proven and cash flowing and the economics of Dawson Creek and the region show long term success for
investment there.
Aspen Grove and its current shareholders are interested in bringing in new investors or selling the entire project
depending on the buyer group that comes forward and what is the best for all involved.
Aspen Grove is willing to sell the project with 2 years fixed lease on the current units at the current rates.

ASPEN GROVE
PROPERTY
Map 

ASPEN GROVE
Blueprints 

ASPEN GROVE

ASPEN GROVE
Existing and Development

There are currently two triplexes on Aspen Grove, built through two phases. The plans call for four more to be built
on the empty land, as well as a small tower. These will be built during phases three, four, and five. The blueprints
for the triplexes will follow as close as possible to the triplex built during phase two. 

ASPEN GROVE
BUSINESS
Rents
Aspen Grove has all of its six units in both buildings being rented. Vacancy rates have been 5% consistently for 3
years.
Rent averages about $14,200 per month for fully rented buildings. A 5% vacancy puts it at $13,490.
Costs & Revenue

Monthly costs amount to $5,240 (broken down by line item in the appendixes).
Total monthly revenue is currently $8,250. Yearly revenue is $99,000.
Return on Investment
ROI relies heavily on how much is invested, how much is leveraged, the rate of the mortgage, and so on.
As a basic example: assume a 2% inflation rate, a 2% appreciation rate, 3% capital reserve, and a 4% mortgage
rate with 80% leverage, the ROI over 10 years averages out to be roughly 11% per year.
Breakdowns for various mortgage and leverage rates are available in the appendixes
We are projecting a ROI of 9.4% at 4% interest rates and 70% leverage. 

ASPEN GROVE
FUTURE DEVELOPMENT
We are working with Ladacor from Calgary to develop the rest of the project. Attached is their preliminary
proposal.
Quick numbers are $195 sq/ft plus $40,000 per unit is in site work and soft costs. Sticking with the 3 bedroom
design at $274,000 we have shown a projected valuation when rented at around $330,000. When leveraging this
future value at 70% ($231,000) we are seeing an easy path to double digit ROI. But where this gets really
attractive is the idea of being able to build at invested cost of $274,000 but being able to leverage at market value
allows a potential triple of ROI - all of sudden this conversation moves from a long term hold strategy to a real
growth potential.

ASPEN GROVE
729 – 24 Avenue SE
Calgary, AB T2G 1P5
P: 587-352-5922
F: 587-352-5921
www.ladacor.com
NOVEMBER 23, 2017
Proposed New Rental Townhouse /

Apartment Development
Dawson Creek, BC
Ladacor
Preliminary Budgetary
Proposal
Page 1 – Ladacor Preliminary Budget Proposal – Rental Townhouse / Apartments, Dawson Creek, BC

ASPEN GROVE
C/O Calley Erickson
Sotheby’s International Realty Canada

290, 815-17th Ave SW, Calgary, Alberta, T2T 0A1
c 403.701.1313 | t 403.254.5315 | f 403.410.3074
cerickson@sothebysrealty.ca
Subject: Ladacor Budgetary Proposal, Proposed New Rental Townhouses and Apartments in Dawson Creek, BC
Dear Calley,
We are pleased to present a Preliminary Budgetary Cost Estimate for Ladacor’s Design-Build development of
your proposed new Modular Multi-family Townhouse/Apartment Housing, at Dawson Creek, BC.
Ladacor have developed our modular building technology for the development of high-quality, cost-effective
multi-story buildings, and we look forward to the opportunity to develop a partnership with you for your
proposed development.
The purpose of this document is to provide you with some cost analysis for potentially utilizing our Modular
Building Technology for the project.
We look forward to your feedback and moving this project forward.
Sincerely,
Rhys Kane
Director of Business Development
403-796-3722 / rkane@ladacor.com

ASPEN GROVE
Ladacor Profile
LADACOR INTRODUCTION
Based on years of experience in the construction and supply of

prefabricated/site erected buildings, Ladacor (www.ladacor.com) has
developed proprietary technology and specialty expertise in various
modular buildings and structures. Our Advanced Modular System™
(AMS™) has been developed as a durable, fire-rated, CSA-approved,
mold resistant, reusable and re-locatable, environmentally sustainable
solution. AMS™ units are easily deployable and erected in the field
leading to cost/schedule savings and consistent shop manufactured
quality.
Our AMS™ units are manufactured to CSA A277 – Factory Certification

of Buildings standards under a strict third-party audited quality program
in our 28,500 square foot manufacturing facility located in Calgary,
Alberta. AMS™ units are customizable and configured to our clients’
unique requirements and application.
Ladacor has the ability to offer a full turn-key project – from concept
development to engineering design to module fabrication to site
construction. Our goal is to offer a full turn-key design-build project to
minimize risk for our client’s project execution.

ASPEN GROVE
Ladacor Key Benefits Summary

• Turn-key Project, Design-Build minimizes exposure to risk to
Client;
• Schedule savings and less time spent on site, minimized
disturbance to existing operation;
• Non-combustible and durable steel building versus wood,
leading to higher public safety and lower insurance premiums;
• Lower execution risk with factory manufactured predictability;
• Durable; each module, made of a rigid steel core, is engineered
to independently withstand the rigors and loads imposed during
transportation and craning;
• Certified Quality; Ladacor implements a rigorous 3rd party
audited QC/QA program, ensuring the highest quality standards
are continually achieved;
• Meets CSA-A277 Rated Modular Buildings and CWB standards;
• Customized Design; Advanced Modular Systems™ can be
supplied in varying fits and finishes – both interior and exterior,
the project is built to order from the bottom up with your
unique design and needs;
• Sustainable; Reduced construction waste by recycling materials,
controlling inventory and protecting materials;
• Ladacor are proudly Canadian and all Advanced Modular
System™ units are Designed in Canada, Tested in Canada
and Manufactured in Canada. We take pride in supporting
Canadian manufacturing jobs and suppliers.

ASPEN GROVE
Ladacor Design-Build Experience – Project Examples:

Days Inn Hotel – Sioux Lookout, Ont.
• Project Description: Two Story Hotel and Conference Center, with 60 Rooms – (Double Queen, King and
Handicap), 3 Meeting Rooms and Large Conference Room, Breakfast Room & Hospitality Lounge, Fitness
Center. Winner of 2015 Ontario Builder Award – Ontario General Contractors Association
• Ladacor Project Delivery Method: Modular Design Build
• Project Engineer: Steenhof Building Services Group

ASPEN GROVE
Studio 6 Hotel – Bruderheim, AB
• Project Description: Four Story Hotel “Studio 6” Brand with 63 Rooms – (Double Queen, King and Handicap
Accessible), all of the rooms extended-stay suites with kitchenettes. Modular elevator and stairwells.
Common areas include a front desk, office, laundry and coin laundry, meeting room, breakfast room, bar
area and fitness room.

ASPEN GROVE
Westgate Manor, Infill Multi-family Development – Edmonton, AB
• Project Description: Three Story Infill Multi-family Development designed for Affordable rental
apartments. 20 independent suites, mix of 1-bedroom and 2-bedroom, including ground floor accessible
suites

ASPEN GROVE
Hythe Pioneer Homes, Seniors Supportive Living Facility – Hythe, AB
• Project Description: Two Story Seniors Supportive Living Facility, B2 occupancy, 48-units of SL4 dementia,
fully AHS compliant, plus all required common amenity space
First Nations Housing, Bearspaw Reserve – Eden Valley, AB
• Project Description: single storey 1280 sq.ft bungalow above basement foundation, 3-bedrooms. Design-
built with First Nations cultural considerations, steel-structure offers increased fire and mold resistance
and a more durable building.

ASPEN GROVE
Banff Ave Staff Accommodation, Canadian Rocky Mountain Resorts – Banff, AB
• Project Description: Three Storey Staff Accommodation Project for Canadian Rocky Mountain Resorts. 2-
buildings with central courtyard and exterior loaded corridors and stairwells. Designed to strict Banff
National Park design-guidelines. Client requirement for enhanced durability and life-cycle cost
considerations.
• Ladacor Project Delivery Method: Modular Design Build (currently in detailed design phase)

ASPEN GROVE
Ladacor Capacity
Ladacor has experience with completed multi-story buildings, on a Design-build Turn-key project basis, including,
detailed engineering (all building engineering: structural, mechanical & electrical), procurement, shop
manufacturing, factory CSA A277 certification and site building construction. Our advanced project experience
includes:
➢ Full-height 4-storey steel modular elevators
➢ Full-height 4-storey steel modular stairwells

ASPEN GROVE
➢ Modular Roof Sections and Modular Balconies
➢ Sprinkler systems, pre-installed in the factory and final commissioning done on site (Ladacor employs in-
house sprinkler fitter)

ASPEN GROVE
➢ Ladacor owns and operates a 165 tonne crane, capable of 6-story buildings, plus various other mobile
cranes (therefore not at the mercy of a third party crane operator)
➢ Ladacor factory is double-height with 2 @ 100 tonne roof cranes for lifting and moving modules, and
also Ladacor has a 2-acre yard storage area to store completed modules and additional outdoor
fabrication space when required, along with various mobile cranes for lifting.

ASPEN GROVE
➢ For additional fabrication and steel framing, Ladacor has an automated Howick Steel Framing Machine -
allowing Ladacor to design and produce customized cold-rolled steel sections in-house. Cut to precision
with minimal-wastage.
➢ Ladacor implements a rigorous 3rd party audited QC/QA program

➢ Ladacor has a full-time manufacturing staff of ~70 people – including licensed Journeymen and certified
welders. Each area has a team lead (welding, electrical, plumbing, HVAC, sprinkler, finishing)

ASPEN GROVE
➢ Ladacor operates from a 28,400 sq.ft factory, which is CSA-A277 compliant (ratings for modular
buildings), with a large and efficient capacity to complete large projects in an efficient and timely
manner

ASPEN GROVE
Project Understanding
A preliminary review has been completed of the Project located in Dawson Creek, with a review of the drawings
supplied by SMPL Design Studio, and the site lends itself very well to a modular construction approach.
Phase 1 has been completed and the Client would like to consider options for a modular approach to phase 2.
Early discussions between the Client and Ladacor has established that there is some opportunity for some design
changes to maximise efficiency of a modular construction approach. Initially to consider 16’wide x 40’deep
modules to give ~1200 sq.ft providing 2 or 3-bed 2 storey townhouses, with a cantilver above a combination of
concrete garages below. This is a guideline only based on preliminary discussion and will be discussed further
during design phase to best fit the site and meet Client expectations.

ASPEN GROVE
Ladacor Modular Approach

Ladacor’s modular approach to executing the project is, through the design process, to target a high degree of
off-site finishing and modularization in order to benefit from the efficiencies gained through this construction
technique.
The modular fabrication would run in parallel with the site works, therefore reducing the construction schedule.
Some of the key benefits of a modular approach to your project include:
➢ Faster construction schedule leads to a quicker ROI with tenants moving in sooner
➢ Modular construction is far less disruptive to the neighboring properties and surrounding areas
➢ More efficient building envelope leads to lower operating costs
➢ Non-combustible building leads to higher public safety and lower insurance premiums
➢ Longer life span of a steel building and results in lower maintenance costs
Schedule
Ladacor currently has sufficient capacity to take on this project. Ladacor will work closely with client in
Preliminary Engineering / Design Phase to develop a mutually acceptable detailed project schedule based on
client’s requirements and developmental permitting status. At this stage of the project, it is expected that the
design-build will require ~6 months.

ASPEN GROVE
Design Intent
The units are best serviced as a 3 bed 2.5 bath with laundry and attached heated garages included, with also an
option for a 2 bedroom 1 bath smaller suite with single car garage.
Typically with built in closets (as compared to framed in) and size for queen beds in each bedroom. Bathrooms
are usually tub in one - shower in the other. (Refer to phase 1 plans).
Refer to pictures for guideline for level of finish:
Standard Interior Specifications include - granite counters, stainless steel appliances, electric fireplace, LED
lighting throughout, large windows, in suite laundry, 4” flat MDF base/case, elements on case (architrave), solid
core doors, Heat Recovery Ventilators, heated floors (open to discussion for modular approach), painted MDF
kitchen cabinet (standard grade - see pics for style), carpet in bedroom and some living rooms (put carpet in
living rooms over other units for sound travel), builders grade fixtures etc. Overall, Interiors that are open and
well finished with enough light.
Standard Exterior Specifications include - steel and cement, two types of steel (12” standing seam and
corrugated) and hardie panels for the panels (painted). Open to changing the hardie panels out for the steel
panels that look like wood (aluminum plastic mix). Flat roof with large soffits on front and back to create a little
interest visually. Overall Low maintenance exterior.
Parking – parking needs to be useable by full size trucks (9’ garage doors and long enough (at least 24’ if not
more).

ASPEN GROVE
Preliminary Budget Cost
Project Cost
Based on the features as outlined within this document, below is the Ladacor preliminary budgetary (Class D)
building cost as per this proposal notes and assumptions:
Building Cost per sq.ft. ~$195 per sq.ft
*CDN$, Taxes extra. Payment terms negotiable.
Ladacor will work in close partnership with Client and Client’s Architect to value engineer the project and Ladacor
will utilize client preferred subcontractors to optimize/reduce costs.
Ladacor Project Notes & Assumptions

Ladacor has made the following assumptions for the project definition and scoping in developing the attached
budgetary cost estimate.
GENERAL:
• Turn-key project including procurement, shop manufacturing, shop CSA A277 certification and site
installation and interconnection;
• Calgary manufactured AMS™ modules, delivered, placed on concrete garage foundation and
interconnected;
• The budgetary price is based on the information and feedback provided to date, further review required
specific to modular-program and site specific requirements required;
• Adequate space available for on-site erection, craning, module off-loading and construction works;

ASPEN GROVE
EXCLUSIONS:
• All Owner’s costs including site survey, geotechnical report, site servicing, utility connections, Owner’s
consulting and legal fees, Owner’s contingency;
• Excludes soft costs including design / consultant fees;
• Development/permitting fees and municipal/provincial levies;
• Site works;
• Exterior grading and landscaping (hardscape and softscape);
• Furniture and equipment extra – building and attachments included;
• Applicable taxes

ASPEN GROVE
Summary
Thank you for the opportunity to provide the above proposal on this exciting project.
We trust that the information contained herein is sufficiently detailed for your review purposes.
The next steps would be to enter in to a preliminary design program. If you have any questions please don’t
hesitate to contact Rhys Kane the contact details below.
We look forward to your feedback and moving the project forward.
Yours truly,
Rhys Kane
Director of Business Development
403-796-3722 / rkane@ladacor.com

ASPEN GROVE
Partners
Current Business Owners have built a property management and development team that could continue to add
value to a growth strategy. We are in need of more capital potential and increasing borrowing capacity through
moving to lower leverage rates to move into the commercial mortgage vehicles. 

ASPEN GROVE
APPENDIXES
Economic Development for Dawson Creek
https://www.dawsoncreekchamber.ca/choose_dawson.php

ASPEN GROVE
Cost Breakdown per month
Taxes $1,100
DC Uitilities $800
Cable $540
Yard Care $250
Interior Maintenance $750
Insurance $500
Gas $800
Administration $500
Total $5,240

ASPEN GROVE
Return on Investment
Our current models show various ROI’s dependent on mortgage and leverage rates.
Leverage Rate of 50% Leverage Rate of 70% Leverage Rate of 90%
24
Average Yearly ROI
18
12
0
3 4 5
Interest Rate
For a 3% mortgage rate
90% leverage rate averages 22.8% ROI each year for 10 years.
70% leverage rate averages 11% ROI each year for 10 years.
50% leverage rate averages 8.6% ROI on average over 10 years.
90% leverage rate averages 16% ROI each year for 10 years.
50% leverage rate averages 8% ROI on average over 10 years.
50% leverage rate averages 7.2% ROI on average over 10 years.


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ASPEN GROVE

Aspen Grove Developments

Aspen Grove Developments Ltd. 1-403-701-1313

ASPEN GROVE DEVELOPMENTS 1

Aspen Grove Developments Ltd. 1-403-701-1313

Aspen Grove Developments Ltd. 1-403-701-1313

Aspen Grove Developments Ltd. 1-403-701-1313

Aspen Grove Developments Ltd. 1-403-701-1313

Aspen Grove Developments Ltd. 1-403-701-1313

Existing and Development

Aspen Grove Developments Ltd. 1-403-701-1313

Costs & Revenue

Total monthly revenue is currently $8,250. Yearly revenue is $99,000.

We are projecting a ROI of 9.4% at 4% interest rates and 70% leverage.

Aspen Grove Developments Ltd. 1-403-701-1313

Aspen Grove Developments Ltd. 1-403-701-1313

NOVEMBER 23, 2017

Proposed New Rental Townhouse /

Aspen Grove Developments Ltd. 1-403-701-1313

C/O Calley Erickson

Sotheby’s International Realty Canada

We look forward to your feedback and moving this project forward.

Director of Business Development

Aspen Grove Developments Ltd. 1-403-701-1313

Based on years of experience in the construction and supply of

Our AMS™ units are manufactured to CSA A277 – Factory Certification

Aspen Grove Developments Ltd. 1-403-701-1313

Ladacor Key Benefits Summary

Aspen Grove Developments Ltd. 1-403-701-1313

Ladacor Design-Build Experience – Project Examples:

Aspen Grove Developments Ltd. 1-403-701-1313

Studio 6 Hotel – Bruderheim, AB

Aspen Grove Developments Ltd. 1-403-701-1313

Westgate Manor, Infill Multi-family Development – Edmonton, AB

Aspen Grove Developments Ltd. 1-403-701-1313

Hythe Pioneer Homes, Seniors Supportive Living Facility – Hythe, AB

First Nations Housing, Bearspaw Reserve – Eden Valley, AB

Aspen Grove Developments Ltd. 1-403-701-1313

Banff Ave Staff Accommodation, Canadian Rocky Mountain Resorts – Banff, AB

Aspen Grove Developments Ltd. 1-403-701-1313

➢ Full-height 4-storey steel modular elevators

➢ Full-height 4-storey steel modular stairwells

Aspen Grove Developments Ltd. 1-403-701-1313

➢ Modular Roof Sections and Modular Balconies

Aspen Grove Developments Ltd. 1-403-701-1313

Aspen Grove Developments Ltd. 1-403-701-1313

➢ Ladacor implements a rigorous 3rd party audited QC/QA program

Aspen Grove Developments Ltd. 1-403-701-1313

Aspen Grove Developments Ltd. 1-403-701-1313

Aspen Grove Developments Ltd. 1-403-701-1313

Ladacor Modular Approach

Some of the key benefits of a modular approach to your project include:

Aspen Grove Developments Ltd. 1-403-701-1313

Refer to pictures for guideline for level of finish:

Aspen Grove Developments Ltd. 1-403-701-1313

Preliminary Budget Cost

Building Cost per sq.ft. ~$195 per sq.ft

*CDN$, Taxes extra. Payment terms negotiable.

Ladacor Project Notes & Assumptions

Aspen Grove Developments Ltd. 1-403-701-1313

Aspen Grove Developments Ltd. 1-403-701-1313

We look forward to your feedback and moving the project forward.

Director of Business Development

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

We are projecting a ROI of 9.4% at 4% interest rates and 70% leverage. 

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  

Aspen Grove Developments Ltd. 1-403-701-1313  