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October 2012 Alberta Economic Fundamentals

Ally

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Edmonton council walks away from arena deal




The deal to build a new arena for the Edmonton Oilers collapsed Wednesday, with city councillors pointing the finger of blame at Oilers owner Daryl Katz and his last-minute demands for millions more in taxpayers money.





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Ally

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Alberta tops Canada in annual decline in EI recipients




CALGARY ` While the number of people receiving regular Employment Insurance benefits increased in August, Alberta still had the biggest year-over-year decrease in recipients, according to data released Thursday by Statistics Canada.




The federal agency reported that 26,620 people in the province received regular benefits in August, up 890 or 3.5 per cent from July. But the number was down 5,740 people or 17.7 per cent from August 2011.



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Ally

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St. Alberta housing starts show lack in apartment buildings




Apartments are rare to come by, living expenses are up and the jobs are in Edmonton. St. Albert is lacking in affordable housing options and its youth is moving away.




The Canadian Mortgage and Housing Corporation reported a high demand in rental units for Edmonton in September, whereas St. Albert had none.




The last significant jump in St. Albert`s rental starts was in April, with 118 new apartment units. In comparison, the previous year saw only 96 rental starts and zero in 2010.





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Ally

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Deadly Highway 63 to be twinned by 2016



Four lanes in four years: the PC government is promising deadly Highway 63 will be twinned by 2016, thanks to an infusion of $1.1 billion. Much of that will have a 20 year payback window for a road expected to keep on giving for generations.





Friday's celebration of the completion of a 36 km chunk of Hwy. 63 some nine months ahead of schedule was held near Wandering River, but the global significance of the event wasn't lost on Transportation Minister Ric McIver.





"This corridor is not just a connection between Edmonton and the northeast and our oil sands resources; this is the first road on our path to global markets in a key path for the future of all Albertans," he said.





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Ally

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Grande Prairie real estate statistics



The number of homes sold through the MLSÂ System of the Grande Prairie
& Area Association of REALTORSÂ was up on a year-over-year basis in
September 2012, marking 17 months of continuous year-over-year growth.



According to statistics provided by the Association, home sales numbered
241 units in September 2012. This was a 34 per cent increase compared
to September 2011 and marks the second best September sales figure on
record after 2006.



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Ally

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Grosvenor Americas acquires multi-family development site in Beltline




CALGARY ` Grosvenor Americas has acquired another multi-family development site in Calgary`s Beltline neighbourhood and is proposing an 18-storey residential tower to go along with its Drake condominium project already under construction.




The site is located at the southwest corner of 15th Avenue and 6th Street S.W., on the opposite end of the block on which the Drake is being built. That 17-storey, 135-suite condo is 80 per cent pre-sold and ready for the fall of 2013.




`Utilizing a similar design to that of Drake, the buildings will architecturally `bookend` the block and further strengthen this central Beltline neighbourhood as a desirable place to live,` said Grosvenor Americas.





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