CALGARY – A Calgary-based real estate investment company and property developer has announced it is putting the historic Symons Valley Ranch on the market for sale just months after purchasing it.
In a Monday news release, Stoneset Equity Development Corp. said the property, which was purchased August 2010 for $11.072 million, is being offered at $14.750 million.
Last year, Stoneset said it had plans for a mixed-use development at the site in northwest Calgary.
In August, Stoneset acquired the ranch from Octagon Properties.
The 12.6-hectare parcel of land is on Symons Valley Road at 144th Avenue N.W. The site was known for its restaurant, banquet facilities that can accommodate up to 1,000 people, an RV storage area, some equipment storage, a landscaping company and rodeo facilities.
In 1968, Les and Ellen Jones purchased the site for the ranch. In 1987, the Ranch House Restaurant and Lounge was added. The next year, the RV Campground was constructed. The site experienced a huge fire in 1989 which destroyed three banquet halls. And in 1993, the rodeo arena was born.
At the time of purchase, Stoneset said it saw the possibility of high-density housing around a commercial centre at the site.
Over the years, the ranch built a reputation as a party destination, hosting thousands of celebrations.
It has been home to corporate events, Christmas parties, weddings, reunions, birthdays, anniversaries, rodeos, baseball tournaments, car shows, motorcycle rallies, fundraisers and a host of other activities.
Calgary Herald
Comments
Want to discuss? Please read our Commenting Policy first.