Aster Overview
Aster is a master-planned community in southeast Edmonton, situated south of Whitemud Drive and east of 17th Street SW. Developed as a large-scale residential and mixed-use node, Aster has attracted significant commercial interest as its population density grows rapidly. The community is designed to incorporate neighbourhood commercial centres that serve both internal residents and the broader southeast Edmonton catchment area.
Commercial development in Aster is organized around dedicated commercial parcels along major internal roads and the community's main entry points from Ellerslie Road and 17th Street SW. Proximity to the Anthony Henday Drive ring road ensures strong vehicle counts for retailers and convenient freight access for light industrial and flex users throughout the southeast Edmonton corridor.
Key Commercial Corridors
Ellerslie Road forms the primary commercial spine serving Aster, with neighbourhood commercial nodes anchored at key intersections with 17th Street SW and the community's internal collector roads. These sites attract service retail, daycare, medical, and food-and-beverage tenants catering to new-home buyer demographics. Vehicle counts along Ellerslie Road in this segment exceed 25,000 vehicles per day, supporting strong retail sales performance for well-positioned tenants.
17th Street SW provides the north-south arterial link connecting Aster to Ellerslie Road commercial clusters, the Anthony Henday Drive interchange, and the broader southeast Edmonton industrial and retail belt. Larger-format retail and flex industrial users favour sites with direct 17th Street frontage for signage visibility and accessibility from the ring road.
Asset Classes
Neighbourhood Retail Pads
Drive-through and service retail pads from 1,200 to 6,000 sq ft on Ellerslie Road and 17th Street SW. NNN leases from $32–$38/sq ft.
Flex Industrial Bays
Multi-tenant flex bays 1,500–5,000 sq ft in adjacent SE Edmonton nodes. Grade loading, 20–24 ft clear heights, $15–$18/sq ft NNN.
Commercial Development Land
Undeveloped commercial parcels from 0.5 to 5 acres within the Aster neighbourhood structure plan area. Strong pre-leasing potential.
Mixed-Use Sites
Ground-floor retail with upper residential or office components, supported by Aster's neighbourhood commercial zone designations.
Investment Drivers
Aster's investment case rests on Edmonton's southeast growth trajectory. The community's approved neighbourhood structure plan designates commercial sites strategically to capture spending from thousands of incoming households annually. Alberta's lack of a provincial sales tax and a competitive corporate tax environment reinforce investor returns, with cap rates on stabilized retail assets in new southeast Edmonton communities ranging from 5.5% to 7.5%.
Edmonton's sustained population growth, driven by interprovincial migration and international newcomers settling in southeast Edmonton's affordable housing stock, is accelerating retail demand in communities like Aster. Canada's Home Commercial tracks active tenant demand from national QSR chains, pharmacy operators, and medical clinics seeking Aster and adjacent community sites.
Development Pipeline
Active commercial development in Aster includes neighbourhood commercial mixed-use buildings at key Ellerslie Road and community collector intersections. Remaining commercial land within the plan area is expected to absorb within three to five years as residential buildout reaches critical density thresholds. Investors acquiring shovel-ready commercial land now benefit from below-stabilized pricing before national retail tenants complete their pre-leasing requirements and construction commences.