May 2013 Alberta Economic Fundamentals
- Thread starter Ally
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University of Alberta interested in downtown Edmonton arts centre
EDMONTON - The University of Alberta is still on-board to become the major tenant at Edmonton`s proposed downtown performing arts centre, despite recent funding cuts, the dean of arts says.
The U of A wants to move its school of music, faculty of art and design, and one other faculty or department to the $850-million centre, which would help cover the project`s cost by leasing about half the space.
Read the full article here.
EDMONTON - The University of Alberta is still on-board to become the major tenant at Edmonton`s proposed downtown performing arts centre, despite recent funding cuts, the dean of arts says.
The U of A wants to move its school of music, faculty of art and design, and one other faculty or department to the $850-million centre, which would help cover the project`s cost by leasing about half the space.
Read the full article here.
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Costco opening in St. Albert
ST. ALBERT, AB, April 30, 2013 /CNW/ - St. Albert, Alberta, and area residents and businesses will now have a Costco store closer to home as Costco Wholesale Canada Ltd. sets to open a warehouse, liquor store and gas bar in about six months at the north end of the city.
"St. Albert has long been a sought after community in the metro Edmonton market. This new warehouse provides added convenience for members currently commuting in from St. Albert and other communities around Edmonton," says Costco's Russ Miller, Senior Vice-president & General Manager, Western Canada, adding that the new Costco Wholesale warehouse in St. Albert will be their sixth in the Edmonton area and 15th in the province. "Costco makes site locations based on their understanding of their members, such as where they reside and how far they travel to get to a store, quantity of purchasing and other analytics that determine demand and the potential profitability of a new store."
Read the full article here.
ST. ALBERT, AB, April 30, 2013 /CNW/ - St. Albert, Alberta, and area residents and businesses will now have a Costco store closer to home as Costco Wholesale Canada Ltd. sets to open a warehouse, liquor store and gas bar in about six months at the north end of the city.
"St. Albert has long been a sought after community in the metro Edmonton market. This new warehouse provides added convenience for members currently commuting in from St. Albert and other communities around Edmonton," says Costco's Russ Miller, Senior Vice-president & General Manager, Western Canada, adding that the new Costco Wholesale warehouse in St. Albert will be their sixth in the Edmonton area and 15th in the province. "Costco makes site locations based on their understanding of their members, such as where they reside and how far they travel to get to a store, quantity of purchasing and other analytics that determine demand and the potential profitability of a new store."
Read the full article here.
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Jasper's housing crisis persists
There is literally nowhere to live in Jasper. Whether you`re new to town or you`re a long-time resident looking to upgrade to a larger home, there is absolutely nowhere to go.
The vacancy rate is at zero per cent and, according to Nancy Taylor of Royal Lepage, that`s nothing new.
`We`ve been at a zero per cent vacancy rate for as long as I can remember, with very little turnover.
`It just keeps becoming more and more critical,` she said. `Without being alarmist, I call it a housing crisis and it`s been that way for probably 10 years.`
Read the full article here.
There is literally nowhere to live in Jasper. Whether you`re new to town or you`re a long-time resident looking to upgrade to a larger home, there is absolutely nowhere to go.
The vacancy rate is at zero per cent and, according to Nancy Taylor of Royal Lepage, that`s nothing new.
`We`ve been at a zero per cent vacancy rate for as long as I can remember, with very little turnover.
`It just keeps becoming more and more critical,` she said. `Without being alarmist, I call it a housing crisis and it`s been that way for probably 10 years.`
Read the full article here.
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High price, low vacancy in Edmonton
Buying a new home is not an affordable option for many Canadians due to the fact that in the decade leading up to 2010, the price of a new home nearly doubled, while incomes didn't even hit a double-digit increase.
The Canada Mortgage and Housing Corporation's (CMHC) Rental Market Report from October 2012 states that in 2001, the average price of a new home in Canada was $234 387, and by 2010 it rose to $454 154`$458 111 in Edmonton. To break it down even more: between 2006 and 2009, the average income for singles, couples and single parents only rose 5.5 percent, but the average cost of a new home increased 22 percent.
Read the full article here.
Buying a new home is not an affordable option for many Canadians due to the fact that in the decade leading up to 2010, the price of a new home nearly doubled, while incomes didn't even hit a double-digit increase.
The Canada Mortgage and Housing Corporation's (CMHC) Rental Market Report from October 2012 states that in 2001, the average price of a new home in Canada was $234 387, and by 2010 it rose to $454 154`$458 111 in Edmonton. To break it down even more: between 2006 and 2009, the average income for singles, couples and single parents only rose 5.5 percent, but the average cost of a new home increased 22 percent.
Read the full article here.
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Record benchmark price for a Calgary single-family home
CALGARY ` The benchmark price of single-family homes in the city reached a new high of $452,900 in April, as market conditions that favour the seller finally drove prices above the unadjusted peak in 2007, said the Calgary Real Estate Board.
`It`s really encouraging to see that the Calgary market remains strong,` said Becky Walters, CREB`s president, in releasing the MLS data for April on Wednesday. `It`s reassuring to both buyers and sellers to see that this area is outperforming many parts of the country.`
Read the full article here.
CALGARY ` The benchmark price of single-family homes in the city reached a new high of $452,900 in April, as market conditions that favour the seller finally drove prices above the unadjusted peak in 2007, said the Calgary Real Estate Board.
`It`s really encouraging to see that the Calgary market remains strong,` said Becky Walters, CREB`s president, in releasing the MLS data for April on Wednesday. `It`s reassuring to both buyers and sellers to see that this area is outperforming many parts of the country.`
Read the full article here.
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B.C. election outcome crucial for Alberta
CALGARY`Never has more been at stake for Alberta in a B.C. provincial election than now.
Viewed from Calgary, the campaign looks like a referendum on the oil marketing strategies that both the Alberta and federal governments ` and the energy industry ` have been banking on for years.
Read the full article here.
CALGARY`Never has more been at stake for Alberta in a B.C. provincial election than now.
Viewed from Calgary, the campaign looks like a referendum on the oil marketing strategies that both the Alberta and federal governments ` and the energy industry ` have been banking on for years.
Read the full article here.
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Ontario city can teach Calgary a lesson in taxes
On April 22 Calgary city council had a simple choice to make: `Do we impose a 13 per cent property tax increase or do we respect taxpayers by living within our proposed budget?`
The sad news for the taxpayers of Calgary is that of the Mayor and 14 aldermen only four were thinking about the taxpayer. This is a recurring nightmare that we in Calgary try to wake up from year after year. Going back 10 years the city has averaged a 4.8 per cent tax increase every year. What happened last week is nothing new for Calgarians, there is a general belief among council that they know how to spend our money better than we do.
Read the full article here.
On April 22 Calgary city council had a simple choice to make: `Do we impose a 13 per cent property tax increase or do we respect taxpayers by living within our proposed budget?`
The sad news for the taxpayers of Calgary is that of the Mayor and 14 aldermen only four were thinking about the taxpayer. This is a recurring nightmare that we in Calgary try to wake up from year after year. Going back 10 years the city has averaged a 4.8 per cent tax increase every year. What happened last week is nothing new for Calgarians, there is a general belief among council that they know how to spend our money better than we do.
Read the full article here.
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Calgary region building permits continue to rise
CALGARY ` Contractors took out building permits worth $553.9 million in the Calgary region in March, up 7.1 per cent from February, according to Statistics Canada.
The federal agency reported Monday that the construction value was also an increase of 21.3 per cent year-over-year.
Read the full article here.
CALGARY ` Contractors took out building permits worth $553.9 million in the Calgary region in March, up 7.1 per cent from February, according to Statistics Canada.
The federal agency reported Monday that the construction value was also an increase of 21.3 per cent year-over-year.
Read the full article here.
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Calgary's country residential real estate market set to take off
CALGARY ` A longer winter season in the Calgary area has had an impact on sales in the country residential market but with the weather warming up it`s expected that sector will see an uptick in activity similar to what`s happening in the city and in surrounding towns.
`As the snow has melted and access to rural properties becomes an easier venture, buyers are becoming more motivated to purchase within the rural markets,` said Mark Evernden, with Sotheby`s International Realty Canada in Calgary. `As well as warm weather, a strong and growing economy accompanied by low interest rates also make home buyers eager and able to obtain homes.`
Read the full article here.
CALGARY ` A longer winter season in the Calgary area has had an impact on sales in the country residential market but with the weather warming up it`s expected that sector will see an uptick in activity similar to what`s happening in the city and in surrounding towns.
`As the snow has melted and access to rural properties becomes an easier venture, buyers are becoming more motivated to purchase within the rural markets,` said Mark Evernden, with Sotheby`s International Realty Canada in Calgary. `As well as warm weather, a strong and growing economy accompanied by low interest rates also make home buyers eager and able to obtain homes.`
Read the full article here.
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Smaller towns top Calgary in region's home sales
CALGARY ` MLS residential sales activity in towns outside Calgary improved at a faster pace than the city in April.
The Calgary Real Estate Board`s statistics for the month indicate sales in towns outside the city increased by 12.24 per cent to 431 compared with a year ago.
Within city limits, sales were up 8.28 per cent to 2,381 for the month.
Read the full article here.
CALGARY ` MLS residential sales activity in towns outside Calgary improved at a faster pace than the city in April.
The Calgary Real Estate Board`s statistics for the month indicate sales in towns outside the city increased by 12.24 per cent to 431 compared with a year ago.
Within city limits, sales were up 8.28 per cent to 2,381 for the month.
Read the full article here.
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Mixed residential sales results for Edmonton
EDMONTON - The busiest season for Edmonton-region resale housing activity began with mixed results in April, with home prices slipping from March but still up from last year.
The all-residential average selling price in the Edmonton census metropolitan area for April was $348,535, down 1.8 per cent from March but up 2.0 per cent from a year earlier, according to MLS figures released Thursday by the Realtors Association of Edmonton.
Read the full article here.
EDMONTON - The busiest season for Edmonton-region resale housing activity began with mixed results in April, with home prices slipping from March but still up from last year.
The all-residential average selling price in the Edmonton census metropolitan area for April was $348,535, down 1.8 per cent from March but up 2.0 per cent from a year earlier, according to MLS figures released Thursday by the Realtors Association of Edmonton.
Read the full article here.
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Enbridge oilsands terminal expansion to cost $300 million
CALGARY ` Enbridge Inc. is adding 900,000 barrels of storage at its Cheecham terminal in northern Alberta, it announced Tuesday, to handle additional output from the Surmont thermal oilsands expansion.
The Calgary energy transportation company said the project will cost about $300 million and will include two new 450,000-barrel blend tanks and conversion of an existing tank from blend to diluent service.
Read the full article here.
CALGARY ` Enbridge Inc. is adding 900,000 barrels of storage at its Cheecham terminal in northern Alberta, it announced Tuesday, to handle additional output from the Surmont thermal oilsands expansion.
The Calgary energy transportation company said the project will cost about $300 million and will include two new 450,000-barrel blend tanks and conversion of an existing tank from blend to diluent service.
Read the full article here.
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Alberta's oilpatch in BC crosshairs
One week before British Columbians go to the polls, Albertans` ears could be burning with all the talk about the province and its energy industry in the hard-fought campaign.
Alberta ` and it`s quest to find new markets for its oilsands ` has found itself in the crosshairs of a tightening race between the Liberals who`ve governed B.C. for the last 12 years and the NDP, who appear likely to win power on May 14.
Read the full article here.
One week before British Columbians go to the polls, Albertans` ears could be burning with all the talk about the province and its energy industry in the hard-fought campaign.
Alberta ` and it`s quest to find new markets for its oilsands ` has found itself in the crosshairs of a tightening race between the Liberals who`ve governed B.C. for the last 12 years and the NDP, who appear likely to win power on May 14.
Read the full article here.
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Over 8,000 new jobs in Lethbridge over the last 7 years
Lethbridge had a gross domestic product (GDP) of $487 million and created 8,800 new jobs between 2005 and 2012, according to a new report providing data for mid-sized Canadian cities.
The Conference Board of Canada's first ever Mid-Sized Cities Outlook 2013 was released Monday, identifying figures that had not been typically available in the past.
Read the full article here.
Lethbridge had a gross domestic product (GDP) of $487 million and created 8,800 new jobs between 2005 and 2012, according to a new report providing data for mid-sized Canadian cities.
The Conference Board of Canada's first ever Mid-Sized Cities Outlook 2013 was released Monday, identifying figures that had not been typically available in the past.
Read the full article here.
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Edmonton Arena deal on life support
EDMONTON - Edmonton`s downtown arena deal is about to be put on ice, but rightly so.
City taxpayers have already done plenty to push ahead the proposed $480-million downtown arena. It`s time for those who will benefit most from the new arena ` especially out-of-town Oilers fans and concert goers, and Oilers owner Daryl Katz ` to find the missing $55 million to finalize the deal.
Read the full article here.
EDMONTON - Edmonton`s downtown arena deal is about to be put on ice, but rightly so.
City taxpayers have already done plenty to push ahead the proposed $480-million downtown arena. It`s time for those who will benefit most from the new arena ` especially out-of-town Oilers fans and concert goers, and Oilers owner Daryl Katz ` to find the missing $55 million to finalize the deal.
Read the full article here.
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Alberta sees share of immigrants rise
EDMONTON - Alberta recorded a modest increase in its share of immigration, with Calgary drawing more newcomers than Edmonton in the last five years, according to data released Wednesday from Statistics Canada.
Toronto, Montreal and Vancouver were still home to the majority of immigrants to Canada between 2006-11. About 32 per cent of newcomers settled in Toronto, while 16 per cent settled in Montreal and 13.3 per cent in Vancouver.
Read the full article here.
EDMONTON - Alberta recorded a modest increase in its share of immigration, with Calgary drawing more newcomers than Edmonton in the last five years, according to data released Wednesday from Statistics Canada.
Toronto, Montreal and Vancouver were still home to the majority of immigrants to Canada between 2006-11. About 32 per cent of newcomers settled in Toronto, while 16 per cent settled in Montreal and 13.3 per cent in Vancouver.
Read the full article here.
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Alberta oilsands production will likely double by 2022
CALGARY, Alberta, May 8 (Reuters) - Alberta's Energy Resources Conservation Board said on Wednesday it expects output from the province's oil sands to double to 3.8 million barrels a day by 2022.
The board, which regulates the province's oil and gas industry, said it expects oil sands production to hit 3.8 million bpd in nine years, up from 1.9 million bpd in 2012.
Read the full article here.
CALGARY, Alberta, May 8 (Reuters) - Alberta's Energy Resources Conservation Board said on Wednesday it expects output from the province's oil sands to double to 3.8 million barrels a day by 2022.
The board, which regulates the province's oil and gas industry, said it expects oil sands production to hit 3.8 million bpd in nine years, up from 1.9 million bpd in 2012.
Read the full article here.
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Edmonton housing market set to hasten by leaps and bounds
Marcus Arkan, CTO of Syndicate Mortgages opines about a recent post arguing that a rising condo market is the reason of the city`s thriving real estate environment. The original news article is posted by the Realtors Association of Edmonton and credits a tighter supply of listings helped boost home resale prices in March. The post also says that the housing market in the city has also `accelerated` in March faster than last year.
Mr. Arkan argues that the increase from last year was inevitable considering that the housing market has experienced a considerable rise since 2012. `Condo resale prices were favorable since last year especially at the end of 2012`, says Mr. Arkan, `It isn`t surprising why listings are tighter in Canada`s fifth largest municipality. `
Read the full article here.
Marcus Arkan, CTO of Syndicate Mortgages opines about a recent post arguing that a rising condo market is the reason of the city`s thriving real estate environment. The original news article is posted by the Realtors Association of Edmonton and credits a tighter supply of listings helped boost home resale prices in March. The post also says that the housing market in the city has also `accelerated` in March faster than last year.
Mr. Arkan argues that the increase from last year was inevitable considering that the housing market has experienced a considerable rise since 2012. `Condo resale prices were favorable since last year especially at the end of 2012`, says Mr. Arkan, `It isn`t surprising why listings are tighter in Canada`s fifth largest municipality. `
Read the full article here.