August 2013 Alberta Economic Fundamentals
- Thread starter Ally
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Enbridge plans $1b pipeline
The Woodland Pipeline Extension Project will connect the local terminal to Enbridge`s Cheecham terminal south of Fort McMurray.
It is planned to be in service by the third quarter of 2015. The Alberta Energy Regulator first approved the project, which will be funded 50 per cent by Enbridge, in August 2012.
Read the full article here.
The Woodland Pipeline Extension Project will connect the local terminal to Enbridge`s Cheecham terminal south of Fort McMurray.
It is planned to be in service by the third quarter of 2015. The Alberta Energy Regulator first approved the project, which will be funded 50 per cent by Enbridge, in August 2012.
Read the full article here.
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Crews working around the clock to deal with wildlife after Alberta bitumen spill
After losing two beavers and a baby muskrat to a bitumen spill in Cold Lake, a wildlife rehabilitation team is working around the clock to make sure no more lives are lost to the oily mishap.
The rescue team ` made up of workers from the Wildlife Rehabilitation Society of Edmonton, Oiled Wildlife of British Columbia and the California-based organization International Bird Rescue ` have been toiling away at the Canadian Natural Resources` worksite northwest of Cold Lake since July 19 to find and care for wildlife caught in the spill
Read the full article here.
After losing two beavers and a baby muskrat to a bitumen spill in Cold Lake, a wildlife rehabilitation team is working around the clock to make sure no more lives are lost to the oily mishap.
The rescue team ` made up of workers from the Wildlife Rehabilitation Society of Edmonton, Oiled Wildlife of British Columbia and the California-based organization International Bird Rescue ` have been toiling away at the Canadian Natural Resources` worksite northwest of Cold Lake since July 19 to find and care for wildlife caught in the spill
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Harper counters Obama on pipeline
QUEBEC -- The Keystone XL pipeline would create jobs in Canada and the United States and ensure North American energy security, Stephen Harper said Friday after U.S. President Barack Obama suggested the long-lasting job effects would be minimal.
"In terms of the Keystone pipeline, the perspective of this government is very clear, it is very well-known by everyone in Washington," the prime minister said in response to a reporter's question about Obama's remarks.
Read the full article here.
QUEBEC -- The Keystone XL pipeline would create jobs in Canada and the United States and ensure North American energy security, Stephen Harper said Friday after U.S. President Barack Obama suggested the long-lasting job effects would be minimal.
"In terms of the Keystone pipeline, the perspective of this government is very clear, it is very well-known by everyone in Washington," the prime minister said in response to a reporter's question about Obama's remarks.
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$590 million thermal bitumen project gets green light
Pengrowth Energy Corporation has received the green light from provincial regulators and is moving forward with the construction of a thermal bitumen project in east central Alberta, which is the cornerstone of a business strategy to become a long-term energy producer.
`We are delighted to have received final regulatory approval to proceed with the first commercial phase of Lindbergh, which we expect will be among the best thermal bitumen projects in western Canada,` said Derek Evans, president and CEO of Pengrowth.
Read the full article here.
Pengrowth Energy Corporation has received the green light from provincial regulators and is moving forward with the construction of a thermal bitumen project in east central Alberta, which is the cornerstone of a business strategy to become a long-term energy producer.
`We are delighted to have received final regulatory approval to proceed with the first commercial phase of Lindbergh, which we expect will be among the best thermal bitumen projects in western Canada,` said Derek Evans, president and CEO of Pengrowth.
Read the full article here.
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Canada's status enhanced by Energy East
It was something of a joke at a conference in Calgary a few months back that asked if Canada was an energy superpower when renowned energy analyst Edward Morse of Citigroup a couple times referred to Canada - which has the world's longest coastline - as a landlocked country.
Given the national reaction to TransCanada Corp.'s announcement this week that it will go ahead with its 1.1-million-barrela-day pipeline from the oilfields in Western Canada to ports in the East, Morse may have misspoke but he inadvertently hit on the reality of Canadian political geography.
Read the full article here.
It was something of a joke at a conference in Calgary a few months back that asked if Canada was an energy superpower when renowned energy analyst Edward Morse of Citigroup a couple times referred to Canada - which has the world's longest coastline - as a landlocked country.
Given the national reaction to TransCanada Corp.'s announcement this week that it will go ahead with its 1.1-million-barrela-day pipeline from the oilfields in Western Canada to ports in the East, Morse may have misspoke but he inadvertently hit on the reality of Canadian political geography.
Read the full article here.
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Near-term job prospects negative for Calgary region
CALGARY ` Near-term employment prospects for the Calgary region were negative in June, according to a survey released Tuesday by the Conference Board of Canada.
But the board`s Metro Help-Wanted Index said `this is likely a temporary phenomenon triggered by the flooding in late June.`
Read the full article here.
CALGARY ` Near-term employment prospects for the Calgary region were negative in June, according to a survey released Tuesday by the Conference Board of Canada.
But the board`s Metro Help-Wanted Index said `this is likely a temporary phenomenon triggered by the flooding in late June.`
Read the full article here.
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Calgary leads the nation in building permit growth
CALGARY ` Calgary saw the country`s largest increase in June in the total value of building permits, according to Statistics Canada.
The federal agency reported Wednesday that estimated building permit value was $537.7 million for the Calgary region, up 16.6 per cent from May and a year-over-year hike of 36.0 per cent.
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CALGARY ` Calgary saw the country`s largest increase in June in the total value of building permits, according to Statistics Canada.
The federal agency reported Wednesday that estimated building permit value was $537.7 million for the Calgary region, up 16.6 per cent from May and a year-over-year hike of 36.0 per cent.
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Calgary may be down but nowhere near out
For all its immediate challenges, the sky is still the limit in Calgary's downtown core.
About 4,000 businesses in Canada's fourth largest city were certainly challenged when they were closed, damaged or left without power for days after historically devastating floods caused more than $3 billion in property damage in Alberta in June.
Read the full article here.
For all its immediate challenges, the sky is still the limit in Calgary's downtown core.
About 4,000 businesses in Canada's fourth largest city were certainly challenged when they were closed, damaged or left without power for days after historically devastating floods caused more than $3 billion in property damage in Alberta in June.
Read the full article here.
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June's flood impacts Calgary's real estate market
A senior analyst with the Real Estate Investment Network says it will be a few more months before we get a clear picture of how the flood affected homes sales in the city.
Don Campbell tells 660News right now insurance companies and banks are calling the shots, as they process claims following the flood and review mortgage applications.
Read the full article here.
A senior analyst with the Real Estate Investment Network says it will be a few more months before we get a clear picture of how the flood affected homes sales in the city.
Don Campbell tells 660News right now insurance companies and banks are calling the shots, as they process claims following the flood and review mortgage applications.
Read the full article here.
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Calgary's rental market about to get tougher with post-secondary students going back to school
An already hot rental market in Calgary is about to be squeezed even tighter as college and university students compete with displaced flood victims for scarce accommodations.
The city`s vacancy rate hovers at about one per cent and is the lowest in the country, according to Canada Mortgage and Housing Corp.
Read the full article here.
An already hot rental market in Calgary is about to be squeezed even tighter as college and university students compete with displaced flood victims for scarce accommodations.
The city`s vacancy rate hovers at about one per cent and is the lowest in the country, according to Canada Mortgage and Housing Corp.
Read the full article here.
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Alberta gains 16,600 jobs in July
The Alberta economy added nearly 17,000 jobs last month, fueled by gains in manufacturing and transportation and warehousing, Statistics Canada said Friday.
The province`s unemployment rate fell 0.5 percentage points to 4.5 per cent in July, the national agency said. Total employment rose to about 2.2 million workers after the provincial economy gained 16,600 new jobs.
Read the full article here.
The Alberta economy added nearly 17,000 jobs last month, fueled by gains in manufacturing and transportation and warehousing, Statistics Canada said Friday.
The province`s unemployment rate fell 0.5 percentage points to 4.5 per cent in July, the national agency said. Total employment rose to about 2.2 million workers after the provincial economy gained 16,600 new jobs.
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Calgary's real estate industry heading for $9 billion a year
CALGARY ` Calgary`s residential real estate market is on pace to record one of its highest ever yearly total dollar volume for MLS sales.
As of Tuesday, the local industry reached just over $6.8 billion in year-to-date transactions. That is more than $800 million ahead of last year`s pace which was just short of $6 billion as of Aug. 6, according to the Calgary Real Estate Board.
Read the full article here.
CALGARY ` Calgary`s residential real estate market is on pace to record one of its highest ever yearly total dollar volume for MLS sales.
As of Tuesday, the local industry reached just over $6.8 billion in year-to-date transactions. That is more than $800 million ahead of last year`s pace which was just short of $6 billion as of Aug. 6, according to the Calgary Real Estate Board.
Read the full article here.
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New developments to push Calgary downtown office vacancy upward
CALGARY ` New developments in the downtown will push the office vacancy rate to the 12 per cent range in the coming years and into a tenant`s market but that`s not raising any concerns about the health of Calgary`s commercial real estate industry.
Read the full article here.
CALGARY ` New developments in the downtown will push the office vacancy rate to the 12 per cent range in the coming years and into a tenant`s market but that`s not raising any concerns about the health of Calgary`s commercial real estate industry.
Read the full article here.
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New office skyscraper proposed for downtown Calgary
CALGARY ` Another office tower is being proposed that would add to a growing list of Calgary downtown developments, the Herald has learned.
GWL Realty Advisors has plans for a second tower ` this one 28 storeys ` at the First Canadian Centre location in the heart of Calgary, where the first West Tower of 41 storeys was completed in 1982.
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CALGARY ` Another office tower is being proposed that would add to a growing list of Calgary downtown developments, the Herald has learned.
GWL Realty Advisors has plans for a second tower ` this one 28 storeys ` at the First Canadian Centre location in the heart of Calgary, where the first West Tower of 41 storeys was completed in 1982.
Read the full article here.
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Second company sets its sights on Crowsnest Pass coal
CALGARY - A Calgary-based company has announced its plans to pursue coal mining opportunities in the Crowsnest Pass, becoming the second company in less than a year to do so.
Altitude Resources Inc., which started trading on the TSX Venture Exchange six months ago, announced Monday it has signed an exploration and option agreement with Elan Coal Ltd., a privately owned Canadian coal exploration and development company. The agreement gives Altitude the option to acquire up to a 51 per cent interest in Elan`s 22,000 hectares of coal leases near Crowsnest Pass, as well as the right to conduct exploration activities on the leases.
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CALGARY - A Calgary-based company has announced its plans to pursue coal mining opportunities in the Crowsnest Pass, becoming the second company in less than a year to do so.
Altitude Resources Inc., which started trading on the TSX Venture Exchange six months ago, announced Monday it has signed an exploration and option agreement with Elan Coal Ltd., a privately owned Canadian coal exploration and development company. The agreement gives Altitude the option to acquire up to a 51 per cent interest in Elan`s 22,000 hectares of coal leases near Crowsnest Pass, as well as the right to conduct exploration activities on the leases.
Read the full article here.
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Flood zone businesses reporting brisk traffic in August
CALGARY - In the immediate aftermath of the June flood, Vine Arts was not a busy place.
The Victoria Park wine and spirits store had no water damage, but its regular customers ` residents of the many highrise condos and apartments in the neighbourhood ` had been evacuated. They weren`t out shopping, and people from other parts of the city weren`t venturing into the flood zone either.
Read the full article here.
CALGARY - In the immediate aftermath of the June flood, Vine Arts was not a busy place.
The Victoria Park wine and spirits store had no water damage, but its regular customers ` residents of the many highrise condos and apartments in the neighbourhood ` had been evacuated. They weren`t out shopping, and people from other parts of the city weren`t venturing into the flood zone either.
Read the full article here.
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Calgary leads country in market price growth
CALGARY ` Calgary led the country in July with the best year-over-year price growth in the resale housing market.
The Canadian Real Estate Association`s MLS Home Price Index, released Thursday, indicated prices in Calgary were up 6.79 per cent ` more than doubling the national aggregate of 2.66 per cent price growth.
Read the full article here.
CALGARY ` Calgary led the country in July with the best year-over-year price growth in the resale housing market.
The Canadian Real Estate Association`s MLS Home Price Index, released Thursday, indicated prices in Calgary were up 6.79 per cent ` more than doubling the national aggregate of 2.66 per cent price growth.
Read the full article here.
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Calgary region housing starts to fall this year
Total housing starts in the Calgary region are expected to fall this year, according to a report released Thursday by Canada Mortgage and Housing Corp.
The agency said starts in the Calgary census metropolitan area will dip to 11,400 units in 2013 from 12,841 the year before.
Read the full article here.
Total housing starts in the Calgary region are expected to fall this year, according to a report released Thursday by Canada Mortgage and Housing Corp.
The agency said starts in the Calgary census metropolitan area will dip to 11,400 units in 2013 from 12,841 the year before.
Read the full article here.
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Explosive growth in Northern Alberta
Norma Barber considers her job a bit of a chess game.
That's because Barber, a long-time commercial real estate broker and owner of CommVest Realty Ltd. and Quality Property Management in Grande Prairie, spends a lot of time trying to figure out how to move pieces.
Read the full article here.
Norma Barber considers her job a bit of a chess game.
That's because Barber, a long-time commercial real estate broker and owner of CommVest Realty Ltd. and Quality Property Management in Grande Prairie, spends a lot of time trying to figure out how to move pieces.
Read the full article here.