Baywest, Section 23 a ‘perfect fit’
Partnership marks turning point for both companies, Bordeaux CEO says
A new partnership will give Baywest Homes more access to land for building new homes in the Calgary area.
Baywest Homes’ parent company, Bordeaux Properties, has entered into an agreement with Section 23 Developments to jointly and equally own Baywest Homes. This will give Baywest Homes access to serviced lots from both companies, along with its current developer-partners.
This partnership marks a turning point for both companies, says Birol Fisekci, president and CEO of Bordeaux Properties.
“This is a perfect fit and the right step to capitalize on Bay- west Homes’ deep-rooted brand, strong existing operations and the strength of our staff members,” Fisekci says in a release. “Section 23 brings an extremely high business acumen and strategic thinking to this partnership that is invaluable. Very importantly, they also align with our values of building happy, healthy, innovative homes and communities for people in Calgary and the surrounding area.”
The partnership will mean changes for Baywest that will strengthen the company, including growing capital resources, providing land opportunities and strengthening the management team.
“Ultimately, the new partnership will create a much more resilient builder, which will be very well po- sitioned for the future,” says Fisekci. “We are ready to build upon our 30-year legacy as a trusted, quality home builder in Calgary.”
In Calgary, Baywest Homes currently builds in Auburn Bay, River- stone of Cranston and Dressage in Silverado. It also builds in Ranchers’ Rise in Okotoks and in Harmony, near the Springbank Airport. Baywest has an active inner-city custom home division — Baywest Urban Living.
The deal will strengthen Section 23’s portfolio by enhancing its current development projects and providing opportunities to explore new markets and partnerships, says Chris Plosz, president of Section 23 Developments.
“This strategic move into the residential home construction industry with a well-recognized established builder certainly complements our land positions and presents a tremendous opportunity to pursue our mission of creating dynamic, inspired built environments that foster a legacy of social connections of all generations,” says Plosz. Baywest Homes may add entry-level homes and multi-family development to its offerings in the future, says Plosz.
Bordeaux Properties, in partnership with Qualico Communities, is currently developing the new community of Harmony ( liveinharmony.ca) in Rockyview County, and Ranchers’ Rise in Okotoks (okotoksranchersrise.com).
Section 23 Developments is a diversified collective serving the architectural design, land development and housing industries. Section 23 has participated with Hopewell Residential in the design and development of Copperfield and Mahogany in Calgary, and has other projects currently underway.
The new partnership will create a much more resilient builder, which will be very well positioned for the future.