Counsel to Landrex on $176M Real Estate Development with Fort McKay First Nation

Real estate developer Landrex Inc. has partnered with Fort McKay First Nation (FMFN) to develop what’s being touted as “Canada’s most livable city” in St. Albert, Alta.

On February 24, 2022, Landrex and FMFN announced plans to build a $176-million urban village in St. Albert beginning this spring. The 555,000-square-foot project will include 190 luxury rental apartments, an amenity park and more than 190,000 square feet of mixed-use commercial space.

The urban village will be a 50/50 partnership between Landrex and FMFN, and marks the second development the two organizations have partnered on.

“Landrex is proud to continue our co-investment with Fort McKay First Nation with the development of the urban village,” Landrex CEO Larry Andrews said in a release. “We have an opportunity to work with an amazing group of people on this exciting project that will pioneer new development in St. Albert.”

In addition to luxury rental suites aimed at young professionals, the urban village will also feature designated assisted living suites, mixed-use space and commercial space.

“Fort McKay First Nation is proud to come together again with Landrex to work on our second real estate development project,” FMFN Chief Mel Grandjamb said. “We are excited to complete this transaction and be owners in one of the largest First Nation real estate development projects in the Edmonton capital region.”

MLT Aikins was pleased to act as counsel to Landrex on this landmark deal with FMFN. Learn more about how our real estate lawyers help bring development projects to fruition.