February 2014 Alberta Economic Fundamentals
- Thread starter Ally
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Calgary taxpayers warned of future utility bill hikes
Further suburban growth will be the primary driver of future hikes to utility fees, retired city manager Owen Tobert warned.
The top civil servant, who retired last Thursday, said that outward expansion will press the need for Calgary to reconsider its developer levies, which may in turn lead Calgary to slam into the civic debt ceiling it`s flirted with for many years.
Read the full article here.
Further suburban growth will be the primary driver of future hikes to utility fees, retired city manager Owen Tobert warned.
The top civil servant, who retired last Thursday, said that outward expansion will press the need for Calgary to reconsider its developer levies, which may in turn lead Calgary to slam into the civic debt ceiling it`s flirted with for many years.
Read the full article here.
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The new threat from shale
The nighttime satellite photos are a handy reference guide to man`s creeping takeover of the planet. Densely packed southern England is a blanket of white light. Ditto the stretch between Washington, D.C., and Boston`in effect, one big city. As you move west in the United States, black becomes the dominant colour, interspersed with small islands of white. Wait, has a new megacity popped up in North Dakota?
Read the full article here.
The nighttime satellite photos are a handy reference guide to man`s creeping takeover of the planet. Densely packed southern England is a blanket of white light. Ditto the stretch between Washington, D.C., and Boston`in effect, one big city. As you move west in the United States, black becomes the dominant colour, interspersed with small islands of white. Wait, has a new megacity popped up in North Dakota?
Read the full article here.
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Calgary approves $889 million plan for seven new rapid bus routes by 2021
For much less than the cost of the west LRT line, council committed Friday to build seven new bus transitway and frequent service routes throughout Calgary.
The $889-million network of bus-only lanes and special routes will be complete by around 2021. It will bring the first major crosstown service to a transit system dominated by the downtown, and serve in most places as a low-cost alternative to LRT ` or, in the case of the Centre Street and southeast, as a precursor to light rail.
Read the full article here.
For much less than the cost of the west LRT line, council committed Friday to build seven new bus transitway and frequent service routes throughout Calgary.
The $889-million network of bus-only lanes and special routes will be complete by around 2021. It will bring the first major crosstown service to a transit system dominated by the downtown, and serve in most places as a low-cost alternative to LRT ` or, in the case of the Centre Street and southeast, as a precursor to light rail.
Read the full article here.
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Bullish outlook for Calgary commercial real estate market
CALGARY - The outlook for Calgary`s commercial real estate market remains bullish despite a temporary slowdown in activity, particularly for downtown office space, says a new report by CBRE Limited.
On Monday, the company released its 2014 Canadian Market Outlook, saying the year ahead will likely be paced more slowly after many years of record demand for commercial space and rising rents.
Read the full article here.
CALGARY - The outlook for Calgary`s commercial real estate market remains bullish despite a temporary slowdown in activity, particularly for downtown office space, says a new report by CBRE Limited.
On Monday, the company released its 2014 Canadian Market Outlook, saying the year ahead will likely be paced more slowly after many years of record demand for commercial space and rising rents.
Read the full article here.
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Low loonie, high energy prices to Alberta's bottom line
Finance Minister Doug Horner says he expects the loonie to fly lower for some time to come, with the weak Canadian dollar combining with stronger-than-expected oil and natural gas prices to significantly boost Alberta`s bottom line.
But Horner maintained Monday he won`t loosen the purse strings in the upcoming budget, noting any windfall revenues are already committed to Alberta`s savings, capital plan and contingency account.
Read the full article here.
Finance Minister Doug Horner says he expects the loonie to fly lower for some time to come, with the weak Canadian dollar combining with stronger-than-expected oil and natural gas prices to significantly boost Alberta`s bottom line.
But Horner maintained Monday he won`t loosen the purse strings in the upcoming budget, noting any windfall revenues are already committed to Alberta`s savings, capital plan and contingency account.
Read the full article here.
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Okotoks continues to see strong growth
With a young population, a high growth rate and a good business environment, the owners of a long-time Calgary cycling store decided 2013 was the year to finally set up shop in town.
Ron Uhlenberg, Okotoks resident and co-owner of Ridley`s Cycle, said they have considered opening a location in town for several years. Many of his customers travelled all the way from Okotoks to the store`s Kensington location and he often brought bikes back and forth for people in town.
Read the full article here.
With a young population, a high growth rate and a good business environment, the owners of a long-time Calgary cycling store decided 2013 was the year to finally set up shop in town.
Ron Uhlenberg, Okotoks resident and co-owner of Ridley`s Cycle, said they have considered opening a location in town for several years. Many of his customers travelled all the way from Okotoks to the store`s Kensington location and he often brought bikes back and forth for people in town.
Read the full article here.
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Office glut looms in Edmonton
Fears of an office glut are increasing in Alberta`s capital as the City of Edmonton and developers bid to build more towers in a city where much of the new space remains dark.
The current vacancy rate in downtown Edmonton is around 8%, which is considered a `healthy` market, but analysts warn that if all the Class A space being planned proceeds, landlords would soon get a sinking feeling.
Read the full article here.
Fears of an office glut are increasing in Alberta`s capital as the City of Edmonton and developers bid to build more towers in a city where much of the new space remains dark.
The current vacancy rate in downtown Edmonton is around 8%, which is considered a `healthy` market, but analysts warn that if all the Class A space being planned proceeds, landlords would soon get a sinking feeling.
Read the full article here.
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Edmonton on the rise as building permits boom, says city's chief economist
Look out Calgary, Edmonton is building momentum, along with all those houses, condos, office towers, industrial warehouses and storefronts.
In fact, with a staggering value of $5.53 billion, 2013 was either the biggest year for building permits in the Edmonton census metropolitan area, or in the top three, according to the city`s chief economist John Rose. And the city is gaining fast on Calgary, which reported $6.04 billion in permit value for 2013.
Read the full article here.
Look out Calgary, Edmonton is building momentum, along with all those houses, condos, office towers, industrial warehouses and storefronts.
In fact, with a staggering value of $5.53 billion, 2013 was either the biggest year for building permits in the Edmonton census metropolitan area, or in the top three, according to the city`s chief economist John Rose. And the city is gaining fast on Calgary, which reported $6.04 billion in permit value for 2013.
Read the full article here.
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New public plaza planned for old Calgary York Hotel site
CALGARY - The proposed second tower, which was to be part of The Bow skyscraper development project in downtown Calgary, will not be moving forward at this time, the Herald has learned.
But the owners of the property at the corner of 7th Avenue S.E. and Centre Street - H&R Real Estate Investment Trust, Encana and Cenovus - will build a public plaza at the site of the old York Hotel.
Read the full article here.
CALGARY - The proposed second tower, which was to be part of The Bow skyscraper development project in downtown Calgary, will not be moving forward at this time, the Herald has learned.
But the owners of the property at the corner of 7th Avenue S.E. and Centre Street - H&R Real Estate Investment Trust, Encana and Cenovus - will build a public plaza at the site of the old York Hotel.
Read the full article here.
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High demand lifting Calgary region housing market
CALGARY - A high level of demand will continue to lift housing starts, MLS sales and average house prices this year in the Calgary region, according to a report released Thursday by Canada Mortgage and Housing Corp.
The agency`s first quarter 2014 Housing Market Outlook said housing starts in the Calgary census metropolitan area will reach 14,100 units in 2014 before declining to 13,500 in 2015. They were at 12,584 last year.
Read the full article here.
CALGARY - A high level of demand will continue to lift housing starts, MLS sales and average house prices this year in the Calgary region, according to a report released Thursday by Canada Mortgage and Housing Corp.
The agency`s first quarter 2014 Housing Market Outlook said housing starts in the Calgary census metropolitan area will reach 14,100 units in 2014 before declining to 13,500 in 2015. They were at 12,584 last year.
Read the full article here.
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Strong results forecast for Calgary commercial real estate market
CALGARY - Calgary`s property market will experience another year of strong results throughout 2014, after a largely positive outcome in 2013, says a report released Thursday by Morguard Corporation on the country`s commercial real estate sector.
Keith Reading, director of research at Morguard, said Western Canadian commercial property markets, including Calgary, are expected to continue to outperform the rest of the country as demand for commodities helps produce economic growth that will be greater than the national average. He said Western Canada will continue to lead the nation in economic activity this year, supported by resource-rich markets.
Read the full article here.
CALGARY - Calgary`s property market will experience another year of strong results throughout 2014, after a largely positive outcome in 2013, says a report released Thursday by Morguard Corporation on the country`s commercial real estate sector.
Keith Reading, director of research at Morguard, said Western Canadian commercial property markets, including Calgary, are expected to continue to outperform the rest of the country as demand for commodities helps produce economic growth that will be greater than the national average. He said Western Canada will continue to lead the nation in economic activity this year, supported by resource-rich markets.
Read the full article here.
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Alberta creates nearly half of all new Canadian jobs over the past year
CALGARY - Although employment was virtually unchanged in January in Alberta, the province showed a year-over-year hike of nearly 70,000 positions - accounting for close to half of the national gain.
Statistics Canada reported Friday that Alberta`s unemployment rate dropped to 4.6 per cent in January from 4.8 per cent in December.
Alberta saw employment rise by 6,600 positions, or 0.3 per cent, from the month before while on an annual basis the province added 69,600 jobs which was up 3.2 per cent.
Read the full article here.
CALGARY - Although employment was virtually unchanged in January in Alberta, the province showed a year-over-year hike of nearly 70,000 positions - accounting for close to half of the national gain.
Statistics Canada reported Friday that Alberta`s unemployment rate dropped to 4.6 per cent in January from 4.8 per cent in December.
Alberta saw employment rise by 6,600 positions, or 0.3 per cent, from the month before while on an annual basis the province added 69,600 jobs which was up 3.2 per cent.
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Residential real estate outlook is optimistic
Canada Mortgage and Housing Corp. expects Red Deer`s residential real estate market to perform well this year and next ` although the national housing agency doesn`t anticipate a surge like the one that took place in 2013.
In its first quarter housing market outlook, released on Thursday, CMHC projects that there will be 820 housing starts in the city this year, up 4.6 per cent from the 2013 tally of 784.
Read the full article here.
Canada Mortgage and Housing Corp. expects Red Deer`s residential real estate market to perform well this year and next ` although the national housing agency doesn`t anticipate a surge like the one that took place in 2013.
In its first quarter housing market outlook, released on Thursday, CMHC projects that there will be 820 housing starts in the city this year, up 4.6 per cent from the 2013 tally of 784.
Read the full article here.
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Economic benefits of the oilsands
Gross revenues from production: $63 billion
Royalties and taxes paid by oilsands producers: $7 billion ` Alberta received $4 billion in royalties, while the federal and Alberta governments received $3 billion in taxes
Profit from oilsands: $5.5 billion
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Gross revenues from production: $63 billion
Royalties and taxes paid by oilsands producers: $7 billion ` Alberta received $4 billion in royalties, while the federal and Alberta governments received $3 billion in taxes
Profit from oilsands: $5.5 billion
Read the full article here.
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Oilsands the giant of Canada's economy, study finds
EDMONTON - The oilsands, Canada`s biggest industry, make an economic contribution to the country that in 2012 was far greater than Saskatchewan`s, a new study has determined.
And with oilsands production expected to double by 2025, the benefits to Alberta and every province, as well as the U.S., are expected to double. That`s according to Oilsands Economic Benefits: Today and in the Future, a report prepared by U.S.-based IHS in co-operation with three Canadian university business departments and various petroleum associations and companies.
Read the full article here.
EDMONTON - The oilsands, Canada`s biggest industry, make an economic contribution to the country that in 2012 was far greater than Saskatchewan`s, a new study has determined.
And with oilsands production expected to double by 2025, the benefits to Alberta and every province, as well as the U.S., are expected to double. That`s according to Oilsands Economic Benefits: Today and in the Future, a report prepared by U.S.-based IHS in co-operation with three Canadian university business departments and various petroleum associations and companies.
Read the full article here.
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Calgary and Edmonton have the lowest vacancy rates in Canada
CALGARY - Despite the lowest residential vacancy rate in the country, the chairman and chief executive of Calgary-based Boardwalk Real Estate Investment Trust says there is an easing in the tightness of the market due to new construction of rental units and condominiums.
Sam Kolias said the easing has helped balance the market as it has shifted in favour of the tenant rather than the landlord.
Read the full article here.
CALGARY - Despite the lowest residential vacancy rate in the country, the chairman and chief executive of Calgary-based Boardwalk Real Estate Investment Trust says there is an easing in the tightness of the market due to new construction of rental units and condominiums.
Sam Kolias said the easing has helped balance the market as it has shifted in favour of the tenant rather than the landlord.
Read the full article here.
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Sizzling Calgary housing market remains hot
CALGARY - Calgary`s sizzling resale housing market is showing no signs of cooling as the city recorded the highest year-over-year hike in prices across the country in January - and early indications show February is experiencing a continued escalation in what it costs to buy a home.
The Canadian Real Estate Association released its monthly MLS data on Friday and listed Calgary as the top centre in the country for annual growth in the MLS Home Price Index at 8.98 per cent. Nationally, prices, in the 11 centres surveyed, rose by 4.83 per cent.
Read the full article here.
CALGARY - Calgary`s sizzling resale housing market is showing no signs of cooling as the city recorded the highest year-over-year hike in prices across the country in January - and early indications show February is experiencing a continued escalation in what it costs to buy a home.
The Canadian Real Estate Association released its monthly MLS data on Friday and listed Calgary as the top centre in the country for annual growth in the MLS Home Price Index at 8.98 per cent. Nationally, prices, in the 11 centres surveyed, rose by 4.83 per cent.
Read the full article here.
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Calgary new home prices soar to highest yearly increase in Canada
CALGARY - The Calgary region posted the highest year-over-year hike in new home prices in December, according to Statistics Canada.
The federal agency reported Thursday that the New Housing Price Index rose by 6.1 per cent in the Calgary census metropolitan area while it was up 1.3 per cent across the country.
Read the full article here.
CALGARY - The Calgary region posted the highest year-over-year hike in new home prices in December, according to Statistics Canada.
The federal agency reported Thursday that the New Housing Price Index rose by 6.1 per cent in the Calgary census metropolitan area while it was up 1.3 per cent across the country.
Read the full article here.
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Calgary ranks 3rd for Canada's priciest office rents
Calgary is home to the third most expensive office space rentals in Canada, with Toronto and Vancouver taking the top spots in a new report released Friday.
The third annual Most Expensive Streets for Office Space in Canada report ranked the streets with the highest office rents over the past year and includes financial, retail and government hubs ` but not residential streets.
Read the full article here.
Calgary is home to the third most expensive office space rentals in Canada, with Toronto and Vancouver taking the top spots in a new report released Friday.
The third annual Most Expensive Streets for Office Space in Canada report ranked the streets with the highest office rents over the past year and includes financial, retail and government hubs ` but not residential streets.
Read the full article here.