Canada must prepare for changing U.S. energy demands
MISSISSAUGA, Ont. ` Greg Rickford, Canada`s new natural resources minister, is focusing on energy security and aboriginal engagement as cornerstones of Ottawa`s strategy to push through big-ticket pipeline projects such as Keystone XL.
`There are some big boxes to lift there,` he said in an interview Friday after speaking to a business audience in Mississauga, Ont.
Robust demand for Calgary industrial real estate market
CALGARY - The Calgary industrial real estate market was very active during the first quarter of this year but despite this activity, vacancy only decreased by three basis points and now sits at 5.79 per cent, according to a report by Colliers International.
Absorption, which is the change in occupied space, was strong during the quarter at 515,536 square feet.
CALGARY - Chalk up another monthly record for Calgary`s booming luxury home market.
According to Mike Fotiou, associate broker with First Place Realty, the city has already established the record for MLS sales in April of properties sold for more than $1 million as 65 transactions took place during the month between April 1-26. That eclipses the previous April record of 64, which was set last year.
Foreign worker moratorium creates concern in Bow Valley
The federal government`s moratorium on hiring temporary foreign workers for restaurant jobs has caught the local tourism industry off guard, causing concern as Banff heads into the busy tourist season.
The temporary ban comes of the heels of a fresh series of abuse allegations of the controversial temporary foreign worker (TFW) program, which was originally designed to address shortages of skilled workers, not to create menial labour or push Canadians out of jobs.
The Town of Banff plans to continue tackling its housing crunch in the face of the high cost of housing.
Sales data indicates residential sales and prices were up in 2013, with seven homes selling for more than $1 million, while a provincial government survey indicates Banff had a zero rental vacancy rate last year and some of the highest rental rates in the province.
Record setting single family home sales in Edmonton
1048 single family homes sold in Edmonton in April, up 15.9% from last April, and the most we've seen in the month of April since I've been keeping track (2005). And while there are many stories of multiple offers and homes selling for thousands over list price, the majority of listings are selling in the usual way, with conditions, inspections, appraisals and all the other steps that help buyers make good decisions. When the market peaked, back in 2007, we saw the average list to sale price ratio for single family homes soar over 99%, when it typically sits around 97%, today it sits at 98.3%.
CALGARY - Calgary`s resale housing market continued to experience increased sales and prices in April compared with a year ago.
Statistics released by the Calgary Real Estate Board on Thursday indicate total MLS sales in the city rose by 7.07 per cent from last year to 2,545 units for the month. New listings were also up 8.03 per cent to 3,754 but active listings at the end of the month remained down 13.10 per cent to 3,794.
"Bitumen Bubble" deflates, boosting bottom line for Canadian crude producers
CALGARY ` Better market access is delivering better prices for Canadian heavy oil, Calgary-based producers Imperial Oil Ltd. and Baytex Energy Corp. confirmed as they presented first-quarter financial reports on Thursday.
The companies continued a theme established earlier this week by oilsands producers Cenovus Energy Inc. and MEG Energy Corp., noting that market transportation bottlenecks that caused heavy-light oil differentials to rise have eased and may further moderate this year.
Is it time for Edmonton to establish a greenbelt to stop urban sprawl
EDMONTON - Private companies could be hired to build a bank of wetlands and developers could buy a share as a new way for the cities to conserve bird-friendly marshes and swamps destroyed by urban sprawl.
Or maybe it`s time Edmonton considered setting up a greenbelt on its borders to stop sprawl and preserve valuable farm land about to be gobbled up, for instance, in the city`s proposed annexation into Leduc County.
Italian Ambassador: " I think Alberta is the future"
EDMONTON - Italy`s goal of diversifying its global energy supplies could eventually pave the way for crude imports from Alberta`s oilsands.
In an interview Monday with the Journal, Gian Lorenzo Cornado, Italy`s ambassador to Canada, said his country will consider importing crude from Alberta if TransCanada`s proposed $12-billion Energy East pipeline gets built.
On Mar. 21, our federal government and the provincial government signed a deal to bring the Canada Jobs Grant to Alberta.
This is great news for job seekers, who will have better access to training that leads to real, guaranteed jobs. It is also good news for Alberta`s economy, because the Canada Job Grant will help employers train the modern workforce needed to help their businesses grow and succeed.
Ambitious industrial park to break ground in Edmonton this summer
EDMONTON - Edmonton`s downtown building boom gets a lot of positive media attention, as you`d expect.
The splashy new downtown arena, the new Walterdale Bridge, the growing forest of stylish new condo and office towers, and the new Royal Alberta Museum are quickly transforming the public face Edmonton presents to the world.
CALGARY - The Calgary region continued to experience the biggest hikes in new home prices in March, leading the country, according to Statistics Canada.
The federal agency reported Thursday, through its New Housing Price Index, that prices in the Calgary census metropolitan area rose by 0.8 per cent on a monthly basis and by 7.5 per cent year-over-year.