Partnership

Requests for Expression of Interest 

GROWING OLDS THROUGH PARTNERSHIPS:

Town-Owned Properties Seeking Expression of Interest  

The Town of Olds is inviting private and public partners to share expressions of interest (EOI) on how to use town-owned properties to support community priorities. We’re seeking businesses, organizations, and individuals with creative ideas and solutions that benefit our town and encourage local investment. 

 This website is to share available property for prospective private and public industry partners interested in providing EOI for how to make the most of underutilized property. 

The Town of Olds will consider partnerships that will maximize the use of these properties. Preference will be given to solutions that limit municipal investment, follow strategic priorities, and encourage local investment or growth.  

Questions & Inquiries

Contact information for Chief Administrative Officer at caoadmin@olds.ca 

 

OPEN PARTNERSHIP OPPORTUNITIES:

The maps below shows locations of the available properties: 

4920 49 Avenue

Current Zoning: Light Industrial

Envisioned Use: Mixed Use

ARP Area: Uptowne Area Structure Plan

Lot Area: 1419.53m
Assesment: $134,600
Improvements: None
Fully Serviced
 

6402 46 Avenue

Current Zoning: Recreation Facility

Envisioned Use: Light Industrial

ASP Area: SE Industrial

Lot Area: 4.32 ha
Improvements: None
Fully Serviced

 

The lot for sale is 4.3 hectares (10.6 acres) in size and located within the future growth area of the Olds Cemetery. At Council’s direction, Administration investigated projected cemetery growth and found that the Town has over 200 years of available growth for the Olds Cemetery based on current and projected burial rates. Administration suggested  there is a more imminent need for serviceable land in the SE Industrial Park.

With this sale, there will be between 35 – 45 years of available growth in the Olds Cemetery. Any future development on this parcel will also be subject to a developer installing adequate fencing to ensure material does not migrate into the cemetery area. Administration has also directed ISL Engineering to investigate a future cemetery site during the MDP and LUB review in 2025.   The lot is valued at $400,000 which is in line with the average per acre sale price in the SE industrial over the previous decade.   
 

INVESTMENT-READY PROPERTIES:

To see a list of privately owned, investment-ready properties, please visit Invest Olds: Discover Investment Properties in Olds, Alberta.  

PREVIOUS AND ONGOING PARTNERSHIPS:

4829 50 Street - Former Fire Hall (in progress)

What’s Happening?

The Town intends to enter into lease agreements with local non-profit organizations to repurpose the building into a community service hub. At present, the Mountain View Food Bank, Community Lending Shelf, and the Coats for Everyone program plan to start using this space starting in 2025.

Why?

This property is a Brownfield site (underground contamination) that limits its resale value. In addition, with zoning changes envisioned in the 2014 East Olds Area Redevelopment Plan, it is no longer a suitable location for previous uses like automotive, autobody, or light industrial businesses.

4825 51 Street - Former Public Works Shop (confirmed)

What’s Happening?

In December 2024, after several months of engagement and volunteer coordination, Council approved revitalizing this space as a Men’s Shed and Community Arts Hub. Over the next 1 – 2 years, the Town will support volunteer efforts to turn this space into a gathering place for social interaction and artistic projects.

Why?

Much like the former Fire Hall, this property is also a Brownfield site and is within the 2014 East Olds Area Redevelopment Plan boundary, making it no longer a suitable location for uses like automotive, autobody, or light industrial businesses. A community need was identified and matched to this building’s potential. Engagement efforts confirmed dozens of interested volunteers to explore this initiative.

4818 51 Street - Former Sand/Salt Shed (confirmed)

What’s Happening?

The Town received interest from a developer to enter a partnership to build a mixed-use building at this site. Theproposed mixed-use development has commercial bays on the main level and residential units above. Ifsuccessful, this development will generate between $15,000 - $20,000 in new annual tax revenue on a currentlyidle piece of land with the potential to trigger similar development within the East Olds mixed use zone. This was first advertised in the newspaper and on social media on December 10, 2024.

Why?

A mixed-use development is the envisioned use for this lot in the East Olds Area Redevelopment Plan (ARP). The East Olds ARP can be view here: https://www.olds.ca/arp. The reason the Town is offering this level of partnership is three-fold:

First, because the Town is dictating the precise development it wants built on this lot.

Second, there are significant demolition and remediation costs associated with developing this lot from itssand/salt shed use that ultimately limit its land value.

Lastly, as this is a municipally owned property, it does not currently generate tax revenue and incurs monthly utility costs for the Town. Should this idea be a success, it will become taxable, while also providing neededhousing and additional commercial business space.

How did this come about?

This lot is not a Brownfield, meaning it has more development potential. Throughout 2023, several recreationgroups were approached with the idea of developing this building into an indoor turf site. But with the cost tomake it just a 3 season (spring, summer, fall) indoor turf facility at ~$250,000 in addition to uncertainoperational costs when renovated, we were unable to find a partner and the Town was not willing to investsuch a significant amount. In spring 2024, the idea for a partnership was brought forward to Council for discussion, who agreed to explore it.In May 2024, 7 letters of interest were sent to builders active in Olds that have a history/interest in multi-familyand/or commercial construction. Several declined, while others did not respond. Only Masterbuilt Projects Ltd.agreed to explore a mixed-use development. A Letter of Intent was signed this summer with Masterbuilt Projects Ltd., which included strict conditions andrequired due diligence. In November, the Town felt Masterbuilt fulfilled those conditions to a reasonable extentand that due diligence efforts were positive. The mandatory advertising period for the property is now underway. Email caoadmin@olds.ca if you have questions or comments.

4512 46 Street -Town Administration Office (confirmed)

What’s Happening?

The Town has signed a sale agreement with Westview Co-op to purchase the Town Office for $2 million. Townoffice staff will relocate to the Town Operations Building, which was built in 2021 in the NW corner of Town. Theanticipated closing/move date is July 2025.

Why?

Both the Town Office and the Operations Centre are underutilized and the large undeveloped second floor of theOperations Centre will consolidate staff, improve administrative efficiency, reduce costs, and support strategicopportunities in the short and long-term. Moreover, it also keeps Westview Co-op headquartered in Olds andgenerates new tax revenue for the Town.

How did this come about?

The Town was approached in late 2023 by a different business asking about acquiring the property. While thisinterest did not materialize, Council directed the CAO to explore the viability of the opportunity further. Aroundthe same time, Westview Co-op approached the Town inquiring about available office space in Town, as theirlease was expiring. The Town Office was presented as a possible location and the process commenced. The saleprice was determined by two independent appraisals, which established market value and met the Town’sobligations under section 70 of Alberta’s Municipal Government Act.

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