Genesis Land Development Corp. Announces Sale of 40% of Hazel Development in Calgary

Executive Summary

• Genesis Land Development Corp. has entered into agreements to sell a combined 40% ownership stake in its Hazel residential development project to two Alberta‑based home builders for gross proceeds of $19.1 million.
• The Hazel project comprises 160 acres slated for approximately 1,200 homes, with land‑use and outline‑plan approvals already received from the City of Calgary.
• Both transactions are expected to close on December 17, 2025, providing Genesis with immediate liquidity and granting the purchasers preferential access to residential lots alongside Genesis Builders Group Inc.

Key Details

• Transaction Size: $19.1 million gross proceeds for a total of 40% equity in Hazel.
• Buyers: Two separate Alberta‑based home builders (names not disclosed).
• Ownership Transfer: Each buyer will acquire a portion of the 40% stake; exact split not specified.
• Project Scope: Hazel development – 160 acres within Calgary’s southeast Hotchkiss structure plan, approved for ~1,200 homes.
• Closing Date: Scheduled for December 17, 2025 (same day as release).
• Profit/Loss Participation: Buyers receive pro‑rata rights to Hazel’s profits and losses.
• Preferential Lot Access: Together with Genesis Builders Group Inc., the purchasers obtain preferential access to residential building lots in the development.
• Use of Proceeds: Not explicitly stated; implied use for further development of Hazel and corporate liquidity needs.

Notable Quotes

“Genesis is excited to have two leading builders, joining Genesis Builders Group, as partners in the Hazel community,” said PS Sidhu, President and CEO. “We look forward to working with our partners to create beautiful homes in a vibrant community for the families who will call Hazel home.”