Alberta Economic Fundamentals

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International real-estate investors flock to Calgary

The strength of Calgary`s economy and growing concern about a possible U.S. recession are attracting new investment from international buyers, says a commercial real estate report by Avison Young.

"Calgary is an appealing market in which to invest," says the Calgary Investment Review 2007 year-end report. "Economic and political stability combined with the strength of Canada`s resource sector and its appreciating currency makes Calgary an exceptionally attractive market.



http://www.canada.com/calgaryherald/news/c...18a54f8&p=1

 

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Crude surges to record $111 as dollar slides


NEW YORK (Reuters) - Oil prices jumped to a record $111 a barrel on Thursday, extending a rally that has added more than 25 percent to prices in just over a month, amid all-time weakness in the dollar.

U.S. crude for April delivery settled up 41 cents at $110.33 a barrel, after striking the new high of $111.00 earlier. London Brent crude for April, which expires Friday, rose $1.27 to $107.54 a barrel.

Fears of a U.S. recession have pummeled the value of the U.S. dollar, propelling the nominal price of virtually all commodities traded in the currency, despite the risk of a slowdown in underlying consumption.

http://www.canada.com/edmontonjournal/news...c4f&k=72009

 

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Plan for Alberta nuke plant moves forward


EDMONTON - Bruce Power Alberta says it will begin consulting people in the Peace River area next month about the proposed nuclear plant project it now officially owns.

The company announced today that it closed a deal with Energy Alberta, which began its work in 2005 on what could be Alberta`s first nuclear plant. The company`s CEO and president, Duncan Hawthorne, is visiting three communities in northern Alberta to make the announcement.

http://www.canada.com/edmontonjournal/news...26c&k=39523

 

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Suncor CEO predicts creation of $80B giant


Suncor Energy Inc. CEO Rick George predicts the ride is far from over for the world`s largest oilsands company.

Suncor`s market value, which has risen from $1 billion in 1992 to $49.5 billion as of the end of trading Thursday, "is firmly on track" to jump another 50 per cent or so, making Suncor "a $75-billion or $80-billion company, if not higher," George told investors at the FirstEnergy East Coast Canadian Energy Conference on Thursday in New York.

http://www.canada.com/calgaryherald/news/c...a0-bf00930a6942

 

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Alberta housing affordability peaked in 2007: report


CALGARY - It`s premature to get too concerned, but Alberta`s housing market is on watch for possible further negative developments, says a national real estate report released today by RBC Economics.

The housing affordability report says the average price of a standard two-storey home in the province fell by 4.3 per cent last quarter (2007) over the previous quarter. Bungalow prices fell by 7.3 per cent, townhomes were off by four per cent and condos fell by 5.3 per cent in their second consecutive quarterly dip.


http://www.canada.com/calgaryherald/news/s...f86&k=43858

 

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Homeowners can earn cash for going green


A furnace rebate program has reignited in Edmonton, with the city dedicating about $700,000 to the effort.

When homeowners replace their current furnaces with high-efficiency models, they can get $500 from the city and another $500 through the federal ecoEnergy retrofit program, for a total of $1,000.

The federal program requires energy audits before and after retrofits, and that costs about $400, said Brenda Osborne, program manager for Carbon Dioxide Reduction Edmonton (CO2RE).

http://www.canada.com/edmontonjournal/news...1f-17962737a378

 

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Is help on the way for Henday?


EDMONTON - Motorists irritated by bottlenecks on Anthony Henday Drive may find relief in the coming provincial budget.

That relief is hinted at in a letter from Premier Ed Stelmach to Mayor Stephen Mandel. It was written Oct. 29 and made public this week in a report to a city committee.

In the letter, the premier promises that replacing the traffic lights on Henday at three locations - Callingwood Road, Lessard Road, and Stony Plain Road-100th Avenue - "will be considered in our next budget."

http://www.canada.com/edmontonjournal/news...c8b&k=88154

 

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Wildflower Ranch joins stampede to Strathmore


Like many of the other communities surrounding Calgary, the town of Strathmore is growing at a fairly strong pace and has already hit the 13,000 population mark. And it`s going to keep up the pace as it has 91 hectares of developable land within the town boundary that`s being planned as a new residential community by a Calgary company.

Ken Struss, a principal of Cancorp Properties, says pending expected approvals from an administration that has been a pleasure to do business with, he expects to begin moving dirt this fall on phase one of Wildflower Ranch.

http://www.canada.com/calgaryherald/news/c...43-b51fd9029e84

 

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Developer eager to create RV parks

Weekend vacationers unable to afford a million-dollar lakeside cottage may soon have a place park an RV at Sylvan or Gull Lake.

That is, if developer Frank Wilson has his way.

"I`m fighting for the average blue-collar worker to have a place to go," Wilson said. "Lots of people are always looking for a place to go that they don`t have to race out to."

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

 

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Timberstone plan clears first reading

The Timberstone Park Area Structure Plan, a proposed development on Red Deer`s east side which will contain the city`s first sustainable community, has been given first reading by city council.

Council got its first look at the Timberstone Park ASP at this week`s meeting.

If approved, the area will include 792 residential units, green space, an activity centre, and playgrounds.


http://www.reddeerexpress.com/express/edit...3/news-003.html

 

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Province hints at new Henday interchanges in the works


EDMONTON - Motorists irritated by the traffic bottlenecks on Anthony Henday Drive may get relief from the upcoming provincial budget.

That relief is hinted at in a letter from Premier Ed Stelmach to Mayor Stephen Mandel, written last Oct. 29 but just made public in a city report.

In the letter, the premier promised that replacing the traffic lights on Henday at Callingwood Road, Lessard Road and Stony Plain Road/100th Avenue with interchanges "will be considered in our next budget."

http://www.canada.com/edmontonjournal/news...9e3&k=54862

 

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Kingstreet complex revives downtown Spruce Grove

SPRUCE GROVE - Increasing housing pressures and mounting environmental concerns are not the only things pushing people towards condo-style living. Spruce Grove is proving the community itself is at the heart of condo development, with the integrated planning of Kingstreet on the Park, a nine-storey steel-and-concrete highrise in a prime location.

This project by Renoir Developments will add 160 middle- and upscale-residential units to the downtown area. And instead of tearing down the existing King Street Mall located on the site, the company has included it in the design, which will offer shopping and other amenities right at residents` front door. In fact, a variety of show suites for Kingstreet on the Park are located in the shopping centre.

http://www.canada.com/edmontonjournal/news...5d-c56898de0cef

 

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Council asked to plan Mill Woods route for LRT

EDMONTON - City council is being asked to spend $1.5 million to start planning an LRT from downtown to Mill Woods.

A report going to council`s transportation and public works committee next week proposes hiring a consultant to start planning the line.

The first job of the consultant would be to look at 75th Street south of Argyll Road and the impact of an LRT line on vehicle traffic, says the report.

http://www.canada.com/edmontonjournal/news...02-9ba6ec3d2c9d

 

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C-Train tunnel options costly

Calgary`s big-ticket plans for building the west leg of the LRT could get more expensive, with news that burying two additional sections of the line could cost up to $235 million.

City council will consider next week two alternative options proposed by area aldermen for the alignment of the LRT extension.

On Monday, council will hear running the line north of the Scarboro-Sunalta area underground will cost about $150 million, including a below-ground station and additional land purchases.

http://www.canada.com/calgaryherald/news/c...9d-7952d6e1476e

 

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Bowness a rare gem in the city

It must be quite a stressful time for newcomers to decide what and where to buy in Calgary.

Some opt for a newly constructed house in the growing suburbs, particularly if they have children. But for those who want more established communities -- and to many that means trees -- it must be a challenge to pick and choose in a city this size.

Proximity to work or downtown is important to some, while others prefer nearby recreation centres, parks, a university or college or perhaps a shopping centre.

http://www.canada.com/calgaryherald/news/l...53-d5cce24c06dd

 

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Alberta housing market may cool further

It`s premature to get too concerned, but Alberta`s housing market is on watch for possible further negative developments, says a national real estate report released Friday by RBC Economics.

The housing affordability report said the average price of a standard two-storey home in the province fell by 4.3 per cent last quarter (2007) over the previous quarter.

Bungalow prices fell by 7.3 per cent, townhomes were off by four per cent and condos fell by 5.3 per cent in their second consecutive quarterly dip.

http://www.canada.com/calgaryherald/news/c...83-6286a7010867

 

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Keystone oilsands pipeline wins U.S. approval

The final pieces of TransCanada Corp.`s integrated North American oilsands strategy fell into place Friday after the company received formal approval from the U.S. State Department for the American portion of the Keystone pipeline.

The so-called "presidential" permit is the final hurdle to allowing more than half a million barrels per day (bpd) of Alberta oil to flow across the Canadian border.

http://www.canada.com/calgaryherald/news/c...a4-3bd0b502e8db

 

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1,400 foreign nurses courted

In the midst of a critical staffing crunch at Calgary and Edmonton hospitals, Alberta`s two major health regions have extended nearly 1,400 job offers to international nurses as part of their biggest overseas recruitment drive.

The push to hire nurses from around the world is so intense, the province`s licensing body for registered nurses has seen a fourfold increase in foreign applicants from last year and is now juggling 150 to 200 requests each month.

http://www.canada.com/calgaryherald/news/s...bb-24b037444625

 

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BP to join Canada`s Irving in big refinery project

CALGARY, Alberta (Reuters) - BP Plc will join Canada`s Irving Oil in designing Irving`s planned $7 billion Eider Rock refinery in Saint John, New Brunswick, the closely held Irving said on Monday, as the British oil major looks to further expand in Canada.

BP, one of the world`s biggest refiners, will contribute $40 million toward the engineering, design and feasibility study for the 300,000 barrel per day project, which would be the first new refinery in North America in a generation.

http://www.canada.com/calgaryherald/news/c...b63&k=97859

 

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Airport tenants not happy

Operators of the Red Deer Regional Airport are getting a failing grade from some of their tenants.

The newly re-established Red Deer Airport Business and Tenants Association presented the airport authority with a report on Thursday that, among other things, calls for the resignation of founding CEO Merv Phillips.

Association board member Gary Hillman, who operates an aviation business, said Phillips should be fired and the airport authority should get a D-minus for its failure to market and improve its facilities.

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