East Village wasteland sees huge spike in construction
CALGARY - For years, East Village, directly east of City Hall, was an urban wasteland with grand dreams for development.
And for many years, those dreams never materialized - until now.
Under the guidance of the Calgary Municipal Land Corporation, East Village is now a hotbed of activity with numerous cranes signalling that this development, which will eventually house 11,000 people as well as office, retail, and civic and cultural space, is well on its way to fruition.
Calgary resale housing market shows no signs of slowing down
CALGARY - As Calgary`s resale housing market nears the mid-point of the year, it is showing no signs of slowing down with June sales up more than 15 per cent from a year ago.
According to the Calgary Real Estate Board, there have been 2,340 MLS transactions in the city from June 1-26, up 15.16 per cent from the same period a year ago with an average sale price of $490,368, which has increased by 6.03 per cent from a year ago.
Economic growth in Red Deer will moderate this year and next, but still compare favourably with the performance of the country`s fastest-growing economies, says a Conference Board of Canada report.
In its Mid-Sized Cities Outlook, released on Friday, the not-for-profit research organization predicted that Red Deer`s real GDP will increase by 3.5 per cent this year and 2.5 per cent in 2015. That compares with 4.5 per cent last year and 4.4 per cent in 2012.
When it comes to provincial economies, there`s Alberta and then there is the rest, says Robert Hogue, senior economist with RBC Economics.
`Alberta`s economy is in a class by itself in Canada. It has grown by an average growth rate of 4.3% in the past four years or almost twice the national average of 2.3% during that time,` says Hogue in his June provincial outlook report.
CALGARY - Calgary`s resale housing market experienced a record month in June with the average MLS sale price reaching an all-time high and luxury home sales setting a new monthly peak.
According to the Calgary Real Estate Board, the average MLS sale price for residential properties in the city climbed to $491,928 during the month, eclipsing the previous high of $486,531 established in May.
It sounds like a dance step or something straight from the pages of science fiction, but Leduc planners are hopeful an aerotropolis will help the regional economy reach new heights.
Aviation officials and representatives from the City of Leduc and Leduc County are collaborating on the project, which would see a 214-hectare parcel of land just south of Edmonton International Airport turned into a major development that would include hotels and restaurants, exhibition and conference centres, and manufacturing and distribution firms.
Sales of non-energy exports reach post-recession high
The value of Alberta`s international exports rose to $10.52 billion in May, thanks partly to higher sales of agricultural, forestry and other non-energy products. The slight increase over April represents one of the highest amounts in the last five years, according to Statistics Canada.
Approximately three-quarters of the province`s sales abroad are oil and natural gas, as well as refined petroleum products. The value of sales is rising due to higher prices in recent weeks. The prices of West Texas Intermediate crude and the benchmark Western Canadian Select Blend of oil are both higher compared to a year ago. Tensions in Russia and Ukraine, as well as increased instability in Iraq, have pushed global oil prices steadily higher.
Can Edmonton's southeast LRT breathe new life into old areas?
EDMONTON - If a bus or LRT station were to open near your home, would you shudder at the possibility of increased traffic and crime? Or would you do a quick jig to celebrate easier access to the city and higher property values?
Not so long ago, many residents of North American cities would have done the former. These days, living close to a major transit node is a selling feature for new housing projects. The official urban planning term is `transit-oriented development,` which refers to the concentration of housing, work, and social spaces within a five-minute walk of a transit station. The city`s website says such developments will promote `attractive, livable and more compact communities.`
Cash left dangling for Edmonton basement suites while few homeowners bite offer
EDMONTON - Two years after the city tightened rules on a program that helps homeowners build and upgrade secondary suites, it appears behind pace to hand out the funding with 63 of a possible 225 grants approved.
But Daryl Kreuzer, the city`s acting director of housing, said the uptake on this part of the Cornerstones II program provides an opportunity for heavy promotion, especially if council pushes ahead with regulatory changes that will make it easier to build garage suites.
New reactor will boost capacity for Nova's Joffrey plant
The skyline at Nova Chemicals Corp.`s Joffre complex took on a new look Friday, as a pair of cranes hoisted a 38-metre-high reactor into place.
The approximately 280-tonne piece of equipment is at the centre of a billion-dollar expansion of Nova`s polyethylene plant. It joins two existing reactors and is expected to boost total production capacity by 40 per cent ` to approximately 2.5 billion pounds of linear low density polyethylene annually.