ARTESIA AT HERITAGE POINTE
Brookfield to build the final phase
The final residential phases of an award-winning luxury community just south of Calgary limits have been acquired by Brookfield Residential, which will be the exclusive builder on these lots.
Brookfield, which has separate divisions for home building and land development, purchased the remaining 71 home sites at Artesia at Heritage Pointe from its developer, Heritage Pointe Properties, a division of Upper Lakes Group Inc.
The company — through Albi Homes, which Brookfield acquired in late 2015 — has been a long-term builder at Heritage Pointe and is well versed on the appeal of the area and the community’s master plan.
“We’ve had a tremendous relationship with (Heritage Pointe Properties president and CEO Carolina Oxtoby) and Heritage Pointe for more than 20 years,” says Allan Klassen, senior vicepresident of housing for Brookfield Residential. This includes a position in the community’s builder group from its earlier days of residential development.
“We saw a tremendous opportunity to maximize what is remaining in Artesia,” Klassen says, adding Brookfield will look to carry on “the legacy that Carolina (Oxtoby) and her team have created.”
The acquisition of these lots, all of which are serviced, amounts to about 23.5 hectares (58 acres) of land. Klassen says it’s a move that will contribute to “really establishing Brookfield Residential in a luxury space.”
“Using some of the experiences we’ve brought over from Albi, we see this as a great opportunity to make a significant mark in that market segment with this acquisition,” he says. “Overall, I’m incredibly excited about the future and what it means to Brookfield.”
Brookfield — active in a wide range of home segments including apartment-style condos, duplexes, laned single-family homes, and move-up single-family homes — was crowned Builder of the Year at the SAM Awards, now called the BILD (Building Industry and Land Development) Awards, announced in 2017.
“I’ve always been passionate about this community,” Klassen says of Heritage Pointe. “It’s one of a kind. The level of detail and architectural design that (Oxtoby) and her team have ensured over the last 29 years is second to none.”
Other companies belonging to Artesia’s previously established builder group, Homes by Avi and Augusta Fine Homes, have about 13 lots left to sell.
With the acquisition, Brookfield Residential will also take over responsibilities of the homeowners’ association at Artesia at Heritage Pointe.
Heritage Pointe includes the 27hole Heritage Pointe Golf Club, which will still be owned and managed by Heritage Pointe Properties. The company does not have other land holdings, says Oxtoby, but there are other assets in its corporate portfolio, including the above mentioned golf course.
Artesia is the final development within the hamlet of Heritage Pointe communities, which also includes the Heritage Pointe golf community, the Lake at Heritage Pointe, and the Ranche. When complete, the Hamlet of Heritage Pointe communities will have 978 homes.
“We have created quite a legacy and I am delighted that (Brookfield) is now going to be helping finalize that legacy,” says Oxtoby. “And I think that at the end of the community development for Artesia we are all going to be able to stand extremely proud of the communities that we have been a part of.”
She says Heritage Pointe will “stand the test of time.”