Articles

Providing Electric Parking Stalls To Attract Tenants And Real Estate Buyers

Robert McLeod, CEO McLeod Project Marketing at Waybury Park shows the first EV stalls at an apartment in Alberta.

Recently I purchased my first EV vehicle, not to lessen my carbon footprint, actually as a car enthusiast it was curiosity. Before I discuss with you how this applies to developing real estate projects, I want to share with you the stats about the “EV Market”.

In 2010 there were only two EV vehicle options, today there are over 25. In 2016 the number of EV vehicle sales grew by 60%. The compelling stats show that within 3 years most manufacturers will have at least one EV model. Ford is investing $4.5 billion in electric cars, and will be adding 13 electric cars and hybrids by 2020, when more than 40 percent of its lines will be electrified. And by 2025 close to 50% of all vehicles sold will be EV’s. Interested yet?

The stats had me curious to discover what the hype was about so I went shopping.  I soon realized I didn’t need $150,000 to buy a Tesla to adopt the new technology, which was a relief!  After extensive shopping & test-drives, I purchased the 2017 Volvo XC90 T8 with a 10kwh battery. I have a charging station at home and with the bulk of my driving downtown Edmonton, I almost exclusively drive in pure electric. Charging options elsewhere in Edmonton are still limited though, but I have enjoyed the stalls at the Southgate Mall.   This got me thinking and I quickly saw a huge opportunity. Southgate has  charging stations to attract clients, why not apply this to real estate? Having realized the impact providing this service has had, as well as how I look at suppliers like Southgate more progressively now, I wanted to pioneer this in real estate locally.

2017 Volvo XC90 T8

Waybury Park offers stalls with free EV charging for tenants.

We are tremendously pleased in partnership with Cove Properties one of Edmonton’s premier developers of multifamily, to have launched, based on our research, the first brand new apartment community here in Alberta the first free EV charging stations in a residential apartment building.

At Waybury Park, a new Apartment complex in Sherwood Park, we wanted to offer a charging station to show how seriously we feel this amenity will soon be needed & then how quickly it will be demanded. We also felt that by providing this service for free, prospective tenants who are also looking for an upscale & unique new residence, will be given a compelling reason to consider this project if they are also in the market to replace their car. Frequently many don’t consider EV’s due to the huge cost burden & logistics of supplying their own power source. Our research team at McLeod Project Marketing shows by ever growing numbers that millennials will make up a significant mix of the new residential tenant moving forward in Alberta. Our research further shows that home ownership is not a motivating factor for millennials. Their desires are; having an upscale first property, a technologically advanced home, and to parter with landlords & developers that share their values.  These are the top three reasons they select one project & developer over another. Ensuring we have the technology to keep pace by fulfilling their needs is critical, by proving we are an innovative partner & friendly to new innovations.

To learn more about Waybury Park visit the site daily at 112 Tisbury St. in Sherwood Park or by checking us out at www.waybuyrpark.ca To get a test drive in Robert’s new car, you can pop by our office and admire it from a distance in our the parking lot. Happy selling & leasing.

Robert F. McLeod, CEO & Founder McLeod Project Marketing