Landrex Inc., one of Alberta’s largest privately-owned real estate development companies, is celebrating 50 years of history and experience in 2022. Every year, Landrex provides more and more families with the opportunity to realize their dream of home ownership.
The year was 1972. Larry Andrews spent his days articling at an Edmonton law firm and completing his law degree. Despite a promising career in law, his passion for the land development industry often led to Andrews driving around at night searching for his first land deal.
As fate would have it, one evening he found a quarter-section for sale in his former hometown of Sherwood Park, AB. Adjacent quarter sections had sold for $2,500 per acre. At the time, Andrews’ annual salary was $4,800, shy of the $6,000 required deposit. Never to be discouraged, Andrews came up with the deposit on the land he wanted to buy, and boarded a plane for the first time in his life in order to close the deal at $2,100 per acre. When he came home, he was able to resell at $2,500 per acre as he had anticipated, and the seeds of Landrex were sown.
50 Years
Landrex has developed thousands of acres of commercial and residential land over its long history, thriving in communicates such as St. Albert, Fort Saskatchewan and Morinville. Proudly celebrating 50 years in business in 2022, it is the same attention to family, community , and growth that has steered Landrex through the years.
“An excellent residential community is a place where homeowners can feel safe and comfortable,” says Sophie Baran, Landrex President. “It is close to “day-to-day” necessities, has plenty of amenities and outdoor space, and is visually appealing. It should be inclusive and foster relationships between neighbours and the community.”
Potential homebuyers in Alberta have a variety of ownership choices to meet their needs thanks to Landrex. Core values like comfort, wellness, and efficiency are an evergreen desire from customers—some things never change. But the customer of today also wants technological innovation and efficiencies. “So, things such as smart home features and weather proofing are always at the top of their list. Another especially important feature post-Covid seems to be walkable trails and outdoor amenities,” says Baran.
Landrex provides homes and communities for those who call Alberta home. Take Erin Ridge North in St. Albert, for example, a masterfully planned neighbourhood that features professionally landscaped green spaces, parks, recreation areas, tree-lined walking paths, and single-family homes built by five award-winning home builders.
Windsor Pointe, another community, is located in the southwest corner of Fort Saskatchewan. It features superior quality single-family homes at an affordable price and a diverse selection, as well as 25 kilometres of walking trails, green spaces, and parks. Homeowners at Windsor Pointe can enjoy an afternoon stroll by the river whenever it suits them.
“Then there is Heritage Valley Estates,” says Baran. “It is one of Landrex’s residential communities located in Morinville, developed to provide more living space while maintaining an affordable price point. With 54 fabulous lots, 14 of which are oversized, you are sure to build your dream home in Heritage Valley.”
Landrex takes the changes in what homeowners want and need very seriously. “When it comes to land development and home building, technology advancements are an obvious answer,” says Baran. “But also, being more environmentally-conscious, wanting more green space, walking trails and outdoor amenities.”
Urban Village and Fort McKay Partnership
Urban Village is Landrex’s second real estate development in limited partnership with Fort McKay First Nation. It will be one of the largest Indigenous real estate developments in the Edmonton area with an estimated appraisal value of $176,000,000 upon completion.
“We are once more delighted to partner with the Fort McKay First Nation in meeting the needs of the community and bringing to St. Albert 12 acres of affordable commercial and multi-residential space,” says Baran. “Our project will bring a new quality-of-life neighbourhood to the community while generating many local job opportunities and significantly increasing the tax base. Commercial space is currently available for pre-lease and residential units will be available by 2024.”
Landrex has partnered with Fort McKay on two different development projects: East Pine (Beaumont) and Urban Village (St. Albert). “Our mutually beneficial relationship is based on respect and trust and driven by a similar long-term vision of the future,” says Baran.
Giving Back
Landrex (from Land and the Latin word for King) has evolved in many ways throughout the years, notably to including commercial and vertical construction, but the constant has always been Larry’s dedication, love of giving back to the community, and finding ways to better the business.
Since the very first development, Landrex have been committed to crafting innovative and family-friendly communities that continue to inspire and delight for years to come. “Giving back to the community is one thing that sets us apart, and giving back to the city and community are part of our everyday business,” says Baran.
Landrex’s philanthropic arm has a far reach. Landrex has recently donated $1 million to the University of Alberta for the Landrex Distinguished Professorship in the Faculty of Arts, another $1 million to the University of Alberta for the Peter Lougheed Leadership College in the Faculty of Arts, and $500,000 donated to the Betty Andrews Recital Hall located in the Centre for the Arts and Culture at MacEwan University, named after Larry Andrew’s late mother (2017).
Landrex sponsors community initiatives and centres throughout most of the communities in which it works, including the Recreation Pavilion at Dow Centennial Centre, to name a few.
“We are always looking for ways to give back to the community, it is the most important part of our business,” says Baran.
For more information, please visit www.landrex.com
