AB Economic Fundamentals 2009-01

[joeiannuzzi]

0109CALG
Key Calgary transit projects wrapping up in `09

After years of manoeuvring around construction nightmares, Calgary drivers should be in for a reprieve in 2009 as the city wraps up a number of major road projects and shifts its construction focus to transit.

While work continues on interchanges and street widenings, many of the lane closures, speed restrictions and delays this year will be much shorter than in the past, lasting days rather than months.

http://www.calgaryherald.com/news/todays-p...3609/story.html

 

[joeiannuzzi]

0109EDTN
Basement dwellers

Edmonton home renovators expect the renovation market to stay steady over the next year.

A survey released yesterday by TD Canada Trust says that despite the current global financial crisis, the majority of Canadian homeowners, 53%, plan to proceed with or expand planned renovations.

Guy St. Germain, chairman of the Canadian Home Builders Association`s Edmonton region, said timing is probably a factor in the local market.

http://www.edmontonsun.com/Business/News/2...081176-sun.html

 

[joeiannuzzi]

0109CALG
Mount Royal `99.9 per cent` of way to university status

Mount Royal College will hit a pivotal milestone next week in its long quest for recognition as a degree-granting university, when a national organization`s officials visit Calgary to consider admitting the school as one of its member universities.

The Association of Universities and Colleges of Canada lacks power to rebrand it as Mount Royal University. But status within the group--widely considered the country`s de facto accrediting body--would give the school added prestige and essentially ironclad assurance that graduate schools recognize students who hold one of Mount Royal`s university-level bachelor`s degrees.

http://www.calgaryherald.com/News/Mount+Ro...7279/story.html

 

[joeiannuzzi]

0109CALG
Senior sentenced to prison for Ponzi scam

A Calgary senior who bilked 35 investors out of $615,000 he claimed was destined for educational programs will do jail time.

James Hester, 68, was sentenced to a three-year prison term Monday after Justice Peter McIntyre rejected a defence request that he not be jailed forwhatMc-Intyre called a "complex, sophisticated and deliberate" Ponzi scheme.

http://www.calgaryherald.com/news/todays-p...7316/story.html

 

[joeiannuzzi]

0109ALTA
Alberta producers to feel pinch

F alling commodity prices, weak credit markets and poor refining profits will slash quarterly earnings for Canada`s oil and gas producers, which could result in yet more cutbacks for the struggling sector.

Fourth-quarter earnings for Canadian energy companies --which begin reporting their results today--are expected to be the weakest in years as the global financial crisis cut demand for fuel, lowering natural gas prices and slashing oil prices to four-year lows by December.

http://www.calgaryherald.com/Technology/Al...7343/story.html

 

[joeiannuzzi]

0109CALG
Towns using city service told to pay

Municipalities on Calgary`s periphery that enjoy city utility and emergency services will have to pay the piper or be forced to find their own solutions, says Mayor Dave Bronconnier. Council will meet today for a special strategic planning session to discuss millions that are being lost every year by subsidizing services for other jurisdictions as the city faces a financial crunch brought on by a slowing economy.

http://calsun.canoe.ca/News/Alberta/2009/0...082521-sun.html

 

[joeiannuzzi]

0109REDR
Utility bills set for increase

Landfill, recycling, water and wastewater rates will be rising in Red Deer.

Water and wastewater rates are set to soon increase 13 per cent.

The average water bill will rise to $28.68 per month from $25.38. With this increase, Red Deer rates are ranked 15 out of 17 surveyed Alberta cities.

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

 

[joeiannuzzi]

0109FTSK
Regulator approves Ft. Sask upgrader

The Energy Resources Conservation Board has approved Petro-Canada`s plans to build an oilsands upgrader in the Alberta Industrial Heartland near Fort Saskatchewan.

However, Petro-Canada has put off a decision on whether to proceed with the Fort Hills project, which includes a mine near Fort McMurray along with the upgrader.

http://www.edmontonjournal.com/news/todays...0700/story.html

 

[joeiannuzzi]

0109EDTN
Multi-family market remains solid

Despite economic uncertainty, Edmonton`s multi-family housing market in 2009 will bring some benefits to both landlords and renters, says a new report.

"Billions of dollars have been invested in the economic growth of northern Alberta and, unless the worldwide demand for oil remains depressed, the long-term forecast for Edmonton will continue to be positive," said the annual Edmonton apartment report released Tuesday by Cushman and Wakefield.

http://www.edmontonjournal.com/Homes/Multi...0696/story.html

 

[joeiannuzzi]

0109CALG
Incoming real estate chief expects return to stability

The past year saw the local residential real estate market come back to earth after a couple of boom years when average prices were soaring.

When 2008 was over, the average MLS sale price of a single-family home in Calgary fell by 2.5 per cent compared with the previous year, while the average price of a condominium dropped by 4.4 per cent.

According to the Calgary Real Estate Board, single-family homes in the city sold for an average $460,327 this past year, down from$472,230 in 2007, and the average price of a condo was $302,408, down from $316,370.

http://www.calgaryherald.com/Homes/Incomin...1671/story.html

 

[joeiannuzzi]

0109ALTA
Suncor shelves expansion amid first loss in 16 years

Suncor Energy Inc. is "downing tools" on the $20.6-billion Voyageur expansion underway at its northern Alberta oilsands operations as it reports its first quarterly loss in 16 years, blamed on falling commodity prices, production setbacks and higher costs.

The first major oil and gas company to report its 2008 results set a sombre tone Tuesday as president and chief executive Rick George also conceded for the first time the company would be willing to take on a partner in its oilsands upgrading business.

http://www.calgaryherald.com/Business/Sunc...1653/story.html

 

[joeiannuzzi]

0109REDR
Council asked to decide to keep landlord and tennant services

Red Deer civic leaders are being asked whether they want taxpayers to fund a Red Deer office that deals with rental property issues.

During Tuesday`s 2009 operational budget talks, Social Planning Department manager Scott Cameron suggested that the Landlord and Tenant Information Services be dropped from municipal funding because he said the office is ultimately a provincial responsibility.

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

 

[joeiannuzzi]

0109REDR
New 460-unit subdivision planned

A green neighbourhood, community garden plot and traffic roundabout are among the features proposed for a new subdivision in an environmentally sensitive corner of the city.

Red Deer`s municipal planning commission voted on Monday to recommend the Garden Heights neighbourhood area structure plan to city council.

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

 

[joeiannuzzi]

0109REDR (Rimbey)
Hotel marks start of subdivision

RIMBEY — Work is underway on a three-storey, 60-unit Best Western Hotel here that will be the first phase of a new subdivision.

Calgary-based SJC Development Corp. is developing the hotel, which is expected to be completed by late September or early October. The building will include a waterslide, swimming pool and conference room.

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

 

[joeiannuzzi]

0109FTMC
Oil firms being asked to draw less water

Low flow levels in the Athabasca River have prompted the provincial government to ask four major oilsands operators to reduce the amount of water taken from the river -- a first since Alberta Environment`s water management framework was implemented in 2007.

http://www.edmontonjournal.com/Technology/...4422/story.html

 

[joeiannuzzi]

0109ALTA
Will `green` Obama smile on oilsands?

Low energy prices, plunging stock values, depressed drilling rates, a virtual halt in new oilsands projects -- the future looks murky at best for Alberta`s sagging oil and gas industry.

Now, with newly minted U.S. President Barack Obama settling in at the White House, and vowing quick action on the most pressing issues facing his country, Alberta`s energy sector faces a whole new raft of worries.

http://www.edmontonjournal.com/Technology/...4493/story.html

 

[joeiannuzzi]

0109CALG
House prices set for 2% slide

T he average MLS sale price for a single-family home in the city will drop by two per cent this year while for condos it will decrease by five per cent, says the Calgary Real Estate Board in its annual forecast released Wednesday.

The board also said single-family listings will remain the same as in 2008 but sales will increase by 10 per cent. In the condo market, it forecasts listings to increase by five per cent in 2009 but sales to fall by five per cent.

http://www.calgaryherald.com/Homes/House+p...4269/story.html

 

[GlennLasiuta]

Downtown Concept Plan outlines opportunity for riverfront
0109REDR
January 22, 2009

(Red Deer, Alberta) – An updated Greater Downtown Action Plan being presented to City Council on Monday, January 26 reflects community interest in higher density urban development and new connections to the riverfront.

“Our community has taken seriously this once-in-a-lifetime opportunity to transform our downtown,” says Councillor Cindy Jefferies, who chairs the Greater Downtown Steering Committee. “This plan reflects the public’s desire to have an inviting downtown urban environment with vibrant life on our streets, inviting places for families and business and a connected downtown for all residents to enjoy.”

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