Carrington Group
For Carrington Group of Companies, the ability and capacity to develop in multiple segments of the market have been critical, Vice President of Business Development Jarret Sheath says. “We’re not just a single-product builder,” he says, explaining that the firm operates in several markets, as well. “Diversity allows us to continue to grow.”
Based in Edmonton, Carrington is a construction and development firm that specializes in apartment-style multi-family and single family and housing for seniors. Carrington also has multiple projects in the recreational real estate segment throughout British Columbia.
Carrington is currently active in eight locations in the Edmonton area. One of Carrington’s current projects is Waterstone, a multifamily development in the MacTaggart Mains community of Edmonton. The entire project, Sheath explains, consists of 210 condominium units in two buildings.
Waterstone boasts outstanding architecture and impeccable finishes that blend in seamlessly with its upscale MacTaggart Neighborhood, the company says. Being able to soak in the peace and beauty of luxury lakeside living while enjoying the great features and amenities offered in a new luxury condo project is attracting buyers to Waterstone in southwest Edmonton. Waterstone is sure to be known as an address of distinction, according to Sheath.
An Active Role
Unlike some of its competitors, Carrington has taken a substantially larger role in the development of Waterstone, Sheath says. The company’s typical model is to develop, build and market utilizing in-house resources. Carrington also has its own Interior Design Studio. Upgrades such as granite counters, glass tile backsplashes and hardwood or cork flooring are available to make each suite unique to the buyer.
This allows Carrington to have more control over all project elements, Sheath says. In addition, it allows the company to better respond to changing trends, consumer needs, new products and innovation and, in turn, provide great value to clients.
Carrington started designing Waterstone in 2007. “We wanted to create a brand-new product that still had the depth and character to be timeless,” Sheath says. Inspired by the Banff Springs Hotel and Hotel MacDonald, Waterstone’s exterior presents baronial style architecture, drawing on stylistic elements from historic Scotland. Features include uneven rooflines with turrets, large areas of masonry and stucco, tall narrow windows and a porte-cochere archway to allow vehicular traffic. These exceptional exterior finishes are perfectly matched by the luxurious appointment of the interior spaces, the company says.
The company established a high standard when designing the interiors. For instance, all of the units have high ceilings, larger square footage and the penthouse units’ ceilings are raised to 10 feet high. Select units have two or more balconies and feature built-in decks and double pantries.
Building amenities include a fully equipped fitness centre, multi-purpose social and games room, guest suite and on-site walking trails and areas for rest and relaxation.
Additionally, the community’s features include many acres of natural landscape, parks, paved walking and biking trails, golf courses and pools. “In Waterstone, [residents] have access to all of Edmonton’s best amenities quickly and easily, and chances are [they] will spend plenty of time close to home,” Carrington says.
In keeping with the natural setting, the company placed as much of the parking underground as possible to minimize surface parking. This allowed it to further extend the planting and landscaped areas and enhance the interface with the adjacent park area.
Well-Received
Carrington started construction on Waterstone in 2008. “We had to temporarily put the project on hold based on what was happening in the economy,” Sheath recalls. After a 12-month delay, work resumed again in summer 2009.
So far, Carrington is in the process of completing the first of the two buildings at Waterstone, which is already into occupancy. “We’re just presently getting into seasonal site work,” he says, adding that all foundation work for the entire site is already complete.
Sheath says the development “has been well received in the market, and we’re optimistic and confident that the market is ready for this type of development. Carrington is ready to begin the second phase, which will commence pre-sales in July 2011 with construction scheduled to start October 2011.”
Project Pride
Sheath says he is proud of the high quality of the materials that Carrington has used in the project. For instance, “We build all of our wood-frame multifamily developments with a No-Burn™ product,” he says. It provides an additional layer of protection above and beyond any code requirements.”
“It protects our building during the construction process and protects the asset for the end-users,” he continues. A fire retardant coating is applied to all wood components, which has been tested and proven to significantly reduce the combustibility of wood.
Carrington has employed many local and regional subcontractors during the project, another point of pride. “We have trades that have been with us for over 25 years,” Sheath says. “We’re always looking for new trade partners as we continue to grow.”
He adds that the subcontractors and Carrington’s construction team have coped well with the challenges on the project site, which have included an economic recession as well as road and pipeline boundary conditions and limited access. “With these challenges come innovations,” he says.
Sheath sees growth for the entire Carrington Group. “We’re always looking at other markets, and we also want growth in the Edmonton and area market,” he says. “Through our existing holdings and continual acquisitions, we are well positioned to expand.”