AB Economic Fundamentals 2008-10

[joeiannuzzi]

Alberta Small Town Updates; 2008-10-05

 

[joeiannuzzi]

1008ALTA
Premier heads east to sell Alberta `brand`

JASPER - Looking to combat negative attention on Alberta`s resource development, Premier Ed Stelmach is preparing to embark on an ambitious marketing campaign at home and overseas to sell the province`s economic clout and environmental stewardship.

Stelmach will head east this week to deliver speeches to the Montreal Board of Trade on Wednesday and Economic Club of Toronto on Thursday to explain Alberta`s importance to the entire Canadian economy.

http://www.canada.com/edmontonjournal/news...f5-b4a0b70d0467

 

[joeiannuzzi]

1008EDTN
Stony Plain LRT route could work

EDMONTON - Edmonton transit planners now say a west LRT line running down Stony Plain Road and 107th Avenue could attract as many riders as a controversial route through Laurier Heights to the University of Alberta.

But such a plan would work only if land around new LRT stations near Stony Plain Road is "intensified" and redeveloped for high-density housing and other uses that would promote ridership.

http://www.canada.com/edmontonjournal/news...2d-4c122347f8ab

 

[joeiannuzzi]

1008CALG
Boundary changes may drop east ward

Drastic changes to Calgary`s ward boundaries, prompted by the city`s soaring population, could mean eliminating one of the city`s east-side districts.

With Calgary`s rapid growth since the last major change prior to the 2001 election -- and delays in previous attempts to tweak boundaries -- the city`s 14 wards need a substantial redrawing to balance the number of people each alderman represents.

http://www.canada.com/calgaryherald/news/c...4b-261542295c14

 

[joeiannuzzi]

1008REDR
City to get third Pizza 73 outlet

Pizza 73 is hoping to carve out a bigger piece of the pizza market. And expansion in Red Deer is part of the plan.

Pat Finelli, chief marketing officer with the Edmonton-based chain and its parent company, Pizza Pizza Royalty Income Fund of Toronto, confirmed that a third Pizza 73 is in the works for Red Deer.

http://www.albertalocalnews.com/reddeeradv..._73_outlet.html

 

[joeiannuzzi]

1008EDTN
City seeks your vision to transform Edmonton

This has been a spooky, if largely mysterious, season in financial news. On Monday alone, business reporters mixed metaphors with astounding zeal: words like bloodbath, dive, meltdown and crash appeared within the same sentence.

The immediate future isn`t looking particularly jolly for any city or region in North America, including this one.

http://www.canada.com/edmontonjournal/news...81-00df83cf5bcb

 

[joeiannuzzi]

1008EDTN
Building permits slump in August

EDMONTON - The value of building permits issued by municipalities in the Edmonton area tumbled 18 per cent to $238 million in August compared with July.

It`s the second sharp monthly drop for Edmonton census metropolitan area permits, reversing gains in May and June. July saw a 28-per-cent decline.

Statistics Canada reported Monday that activity in Alberta fell 19.1 per cent in August to $916 million. The steepest fall in building permits issued was in non-residential, which fell 26 per cent.

http://www.canada.com/edmontonjournal/news...21-3ef9118064da

 

[joeiannuzzi]

1008EDTN
Housing prices show decline

EDMONTON - While average resale home prices across Canada nudged upward in the third quarter, Edmonton saw double-digit declines from last year in bungalows, two-storeys and standard condos, says a report released today by real estate firm Royal LePage.

The average Multiple Listing Service sale price for an Edmonton bungalow fell 11.8 per cent to $326,429 compared to the third-quarter of 2007, according to the market survey.

http://www.canada.com/edmontonjournal/news...fa-e080c5bd62e8

 

[joeiannuzzi]

1008EDTN
Big tax hike feared

Property owners face a double-digit tax hike, if figures put forward in the city`s 2009 proposed budget are any indication.

A draft operational budget made public yesterday recommends a 10.5% property tax increase, which city staff say is necessary to maintain current service levels.

That boost would cover the rising cost of delivering current services which, staff say, is increasing significantly with inflation and emerging new communities.

http://www.edmontonsun.com/News/Edmonton/2...002106-sun.html

 

[joeiannuzzi]

1008CALG
City explores firepit permits despite `enforcement nightmare`

The city will examine how a permit system for backyard firepits might work, exploring further regulations despite concerns it would be an "enforcement nightmare."

In a 9-5 vote, council asked staff to look at a permit system and what other cities do with open fires.

"Primarily, maybe some further restrictions help us live more in harmony with people burning," said Ald. Joe Ceci, one of two aldermen who brought the motion forward.

http://www.canada.com/calgaryherald/news/c...5f-3832e25898b3

 

[joeiannuzzi]

1008CALG
Harry Rosen plan suited for Calgary

High-end retailer Harry Rosen Inc. plans to double its presence in the Calgary market by mid-2010 with a new store in Chinook Centre and an expanded flagship location at the downtown Core (Calgary Eaton Centre-TD Square) shopping mall.

On Monday, the company officially announced its downtown store will expand to 30,500 square feet from its current 18,000 square feet and add a 12,000-square-foot retail space at Chinook.

http://www.canada.com/calgaryherald/news/c...b4-94250660ac32

 

[joeiannuzzi]

1008CALG
Home prices dip in city as national numbers rise

Calgary MLS average sale prices in three categories of homes all fell in the third quarter of this year compared with a year ago while Canadian prices inched upwards, according to a survey released Monday by Royal LePage Real Estate Services.

The company`s House Price Survey Report said the year-over-year change in the Calgary market varied, with drops of 8.7 per cent for a standard two-storey home, 8.2 per cent for a standard condominium and 6.2 per cent for a detached bungalow.

http://www.canada.com/calgaryherald/news/c...50-1e00ddeb7d22

 

[joeiannuzzi]

1008REDR
Neighbours get wider say in duplex developments

West Park residents could be alerted to duplex development within a 100-metre radius if a bylaw amendment goes through next month.

City council gave first reading on Monday to a land use bylaw amendment, which would see making semi-detached homes discretionary within the West Park petition area.

In September, the city received a petition from 65 households that opposed duplexes as a permitted use, arguing the dwellings would reduce property values.

http://www.albertalocalnews.com/reddeeradv...velopments.html

 

[vandriani]

1008ALTA
Big changes on Whipsaw Day
Optimists still stride strong in oil patch


If anyone out there should be worried about the future of the oil sands business, it`s Neil Camarta.

Last month, Mr. Camarta`s company, Petro-Canada, announced a 50% cost increase at its Fort Hills oil sands project, to about $23.8-billion, up from a June, 2007, estimate of $14.1-billion for the first phase alone, making it look vulnerable in an environment of declining oil prices and tighter liquidity.

And yet Mr. Camarta, who runs the project as Petro-Canada`s senior vice-president for oil sands, remains a believer.

http://www.nationalpost.com/opinion/story....e6-084086b489c5

 

[joeiannuzzi]

1008EDTN
Riding Profile: Edmonton East

EDMONTON - The sign over Edmonton East Conservative candidate Peter Goldring`s campaign office advertises a now-departed Christian bookstore, but the incumbent candidate jokes that a little divine intervention can`t hurt his cause.

This election, Goldring, 63, faces a challenge from an old nemesis, battle-worn NDP veteran candidate Ray Martin, whom he defeated decisively in the 2000 federal campaign.

Although the working-class riding has swung from NDP to Liberal to Conservative in decades past, the outspoken, bearded politician has represented the riding since 1997 on behalf of the Reform Party, Canadian Alliance and Conservatives.

http://www.canada.com/edmontonjournal/news...f9-d12333bf78b4

 

[joeiannuzzi]

1008EDTN
City`s office vacancy rate still sliding

EDMONTON - Despite new construction and a souring global economy, Edmonton`s office market will continue to be tight, say some commercial realtors.

Overall, the office vacancy rate continues to slip, says a third-quarter office market report released Tuesday by Colliers International Edmonton.

http://www.canada.com/edmontonjournal/news...8b-4037f929eccb

 

[joeiannuzzi]

1008CALG
Little relief for renters as vacancies rise

Apartment hunters are enjoying more choice, but that doesn`t mean they should expect to pay less, says the Calgary Apartment Association.

Calgary`s vacancy rate is now between three and four per cent, executive director Gerry Baxter said. That`s up from the near-zero rates that helped turn the city into one of the most expensive places in Canada to rent housing.

http://www.canada.com/calgaryherald/news/c...b3-b8eec91d0a8f

 

[joeiannuzzi]

1008CALG
Trustees agree to close school in path of LRT expansion

Public school trustees voted Tuesday to close Ernest Manning High School to make way for the west leg of the LRT system.

The school will be closed Sept. 1, 2010, on the condition a replacement is completed three months before then to allow time for staff and students to move.

http://www.canada.com/calgaryherald/news/c...a9-6d703bdc5cbf

 

[joeiannuzzi]

1008CALG
Office developments bulk up outside core

Calgary`s suburban office market could increase by more than 11 million square feet in the next few years if all proposed developments move forward.

A report by CB Richard Ellis Ltd. says there are just over 3.2 million square feet of new office space under construction in the suburban market, which it defines as including the Beltline, nearly 6.6 million square feet in the pre-leasing development phase and almost two million square feet in the proposed stage.

http://www.canada.com/calgaryherald/news/c...a6-c6682f81fcab

 

[joeiannuzzi]

1008REDR
110-unit hotel proposed for Gasoline Alley

Construction could begin shortly on a 110-unit hotel planned for the west side of Gasoline Alley.

The Randhawa Group of Companies Inc. received development approval for the four-storey building from Red Deer County`s municipal planning commission in August.

Aman Randhawa, who operates the Edmonton-based company with his father Karnail, said foundation work could begin this year but the bulk of construction will likely be postponed until after winter.

http://www.albertalocalnews.com/reddeeradv...line_Alley.html