Capstone: A Thriving Community Ready for Your Vision
Capstone is quickly becoming Red Deer’s most vibrant, connected community, and now, Parcels M1, M2, and M3 – spanning 3 acres in the heart of Capstone - are available for sale for residential development. With a prime location next to the Red Deer River and the Red Deer Regional Hospital’s $1.8 billion expansion, this is the perfect spot for modern, sustainable living spaces.
Perfectly suited for a wide range of residential options—including condominiums, townhomes, micro-units, rental units or seniors' living—these sites cater to the growing demand for housing in the Capstone community. These parcels can be developed in a single phase or across multiple phases, providing flexibility to match market trends and developer expertise.
Don’t miss this opportunity to invest in Capstone’s future.
Review the Capstone Land Sale (Parcels M1, M2, M3) Information Package (pdf) and submit your proposal by March 31, 2025, to be considered for these prime parcels. Whether you’re developing apartments, condos, townhomes, seniors' living, or mixed-use spaces, Parcels M1, M2, and M3 represent an exciting chance for growth in one of Red Deer’s most sought-after areas.
Next steps following proposal submission:
The City of Red Deer will carefully review all proposals and meet with developers to discuss their plans. After these meetings, an internal review will determine how each proposal aligns with the City’s goals and the Capstone vision. Developers whose proposals best meet these objectives will be invited to begin formal discussions and negotiations.
Please note that the City is not obligated to sell any parcels if proposals do not meet the required criteria and community objectives.
Supplementary Information
Parcel Map
Capstone Area Redevelopment Plan (pdf)
Developer Brochure
Capstone 3D Visualization Video