OLDS — The Town of Olds announced Thursday that a private developer plans construction of a pet-friendly, six-storey, 92-unit residential building in Olds.
The rental building, to be called Silverside Pointe, will be located on 65th Avenue near local shopping, dining, and services. Ground has been broken on a project just south of the Silver Lynx area along 65th Avenue.
The project, being undertaken by Seymour Pacific Developments, will offer pet-friendly apartments with studio, one, two and three-bedroom apartments. Occupancy is expected in summer 2026.
The building will feature in-suite laundry, a community lounge with private workspaces, a fitness centre, dog run and community gardens.
It works into a Town of Olds strategy to create at least 100 units, some of which are anticipated in places like Uptowne Olds and East Olds over the next five years.
The town's chief administrative officer, Brent Williams, referred to the development during council’s July 7 committee of the whole meeting.
“As a Canadian-owned and operated developer, builder and manager of multi-family housing, we are pleased to bring a brand-new option for renters in the Olds community,” Kris D. Mailman, chief executive officer of Seymour Pacific Developments said in a Town of Olds news release issued Thursday.
“We think Silverside Pointe will help provide part of the solution for the growing need for rental housing in Olds.”
The new development comes as the Town of Olds continues to respond to “growing housing pressures.”
“Recent survey results from residents across Olds and the region pointed to an urgent need for more diverse and attainable rental options,” the release said.
During their July 7 meeting, council members were told the housing crunch was especially difficult for moderate to low-income people.
“We see many people spending more than 50 per cent of their income on housing utilities,” Qualitative data analyst Lisa Moffat of B.C.-based Resilience Planning told councillors.
“We are thrilled about this development and what it will offer to Olds,” said Mayor Judy Dahl said in the news release. “The community has been asking for more choice and affordability in housing and this delivers. It is also pet-friendly, which we know is important to many.”
The building will be managed by Broadstreet Properties, which currently oversees more than 16,000 rental units across Canada, with on-site staff and 24/7 tenant support.
Municipal officials say the project meets all local requirements for parking, traffic flow and development standards.
“Infrastructure assessments have confirmed the Town (of Olds) is well equipped to support this growth,” the news release says.
“Its location near existing retail and services is expected to benefit nearby businesses and support continued revitalization in the area.
“The Town of Olds welcomes this investment as part of its commitment to meeting housing demand and ensuring residents have access to high-quality rental living.”
