Edmonton’s city council needs to focus on return on investment as it makes budget decisions, argues an op-ed signed by Lisa Baroldi of BOMA Edmonton and three other leaders. They oppose the cumulative 15.6% tax increase in the proposed four-year budget, saying it will “erode our competitiveness, affordability, and dampen our ambition to grow.”
Edmonton City Centre Mall, owned by Canderel Group, has partnered with Boyle Street Community Services to develop a more empathetic approach to ongoing security issues and social disorder on mall property. The partnership, which began about three months ago, includes a patrol team that responds to overdoses and provides food, water, and clothing to vulnerable people in and around the mall. The team also works with mall security to connect people in need with social services and support. “We’ve been able to get people housing in a couple of weeks, which is kind of unheard of,” said Brenna Gavel with Boyle Street.
Passenger traffic at Alberta’s two main airports is bouncing back after pandemic restrictions drastically reduced air travel. “Things are recovering, and people are starting to travel again,” said Steve Maybee, vice-president of operations and infrastructure for Edmonton International Airport. Still, he said it may be years before the impacts of the pandemic are gone. YEG recently introduced a free service called YEG EXPRESS that offers travellers the option to pre-book a spot in the security lineup. Time slots can be reserved up to 72 hours before their scheduled flights.
The Edmonton International Airport won this year’s Air Cargo Sustainability Award in the corporate category. “YEG’s Airport City Sustainability Campus is a growing hub of transportation, cargo logistics, manufacturing, sustainability, technology development and tourism,” said the Tiaca Air Cargo Forum in Miami. “It is an integrated ecosystem that spurs collaboration and innovation while fostering the commercialization of emerging clean technologies.”
A new Loblaws City Market opened in ICE District Plaza on Nov. 9 after a two-year delay caused by the pandemic. “We know this has been a highly anticipated opening for our residential and office space tenants,” said ICE District CEO Stu Ballantyne. Previously, there were no grocery stores downtown east of 109 Street, and the area could be considered a food desert.
A new fan park is under construction in ICE District at the location of the former Baccarat Casino between 102 Street and 101 Street. The space will include three outdoor rinks, art installations and greenery, and will be able to accommodate festivals, sports and other public events. The year-round space will create “an opportunity for increased vibrancy and new and unique events,” Stu Ballantyne, president and chief operating officer for Rogers Place and Ice District, said in a release. The space is set to host its first event later in December.
ONE Properties and Vestcor Inc. have acquired 41 Business Park in Nisku. The property was formerly owned by Ledcor’s fabrication and module yard. Upon completion, the site will feature about one million square feet of industrial space.
Arrow Engineering shared that five new supportive housing projects are now ready for occupancy. “Arrow is proud to have contributed our design expertise to this impactful initiative to reduce homelessness in our city.”
Stantec has released its third-quarter results, setting a new record for contract backlog at $6.2 billion. Net revenue was $1.2 billion, up 24.3% over the same time last year, but net income decreased by 2.9%, largely due to acquisition costs.
Ted Mildon, senior director of office leasing at Oxford Properties Group in Vancouver, said unique events are key to a good amenities space. “The real opportunity for landlords is to work on the programming side. And for those who have the amenity piece in place already, it’s an even better starting point to get the programming going and really foster those connections with tenants,” he said.
Edmonton is the most successful city in North America when it comes to attracting visitors downtown after the pandemic, according to data from Avison Young. The real estate firm found that downtown visitor volume increased 151.1% between March 2, 2020, and Sept. 5, 2022, ahead of Calgary and San Diego, which tied for second at 123.3%. Cory Wosnack, the firm’s managing director in Edmonton, told CTV News that Rogers Place and ICE District were a “difference maker,” a sentiment echoed by Jeffrey Sundquist, CEO of the Edmonton Chamber of Commerce. “You can’t argue that the Ice District and that development and ambition has really re-energized the central Edmonton area,” he said. “And in fact, it reinvigorated the entire region.”
According to Avison Young‘s Q3 industrial report, vacancy rates in the Edmonton region have dropped to 3.9%. “This compression of vacancy rates is a culmination of several factors, one of which being related to the lack of new supply available for lease,” it said. But heading into 2023, Edmonton is expected to see more new supply than it has seen since 2015.
The City of Edmonton has wrapped up its 2022 capital construction season, calling it “one of the most ambitious capital seasons in history.” This year, Integrated Infrastructure Services worked on 302 projects, 70% of which are on schedule and 92% on budget. The city also expects to complete three neighbourhood renewal projects by the end of the year. More details are available on the city’s fact sheet.
Mayor Amarjeet Sohi launched the Mayor’s Advisory Council on Business Growth and Opportunities to help “build and feed a vibrant, inclusive and prosperous business ecosystem in Edmonton, and to identify ways to improve our city today, and for the future.” Members include Supriya James of CWB Financial Group; and Andre McDonald, a mechanical engineering professor who serves as the associate vice president of strategic research initiatives and performance at the University of Alberta.
Edmonton Airports has named Myron Keehn as its new CEO. Keehn will replace Tom Ruth, who is set to retire at the end of December. The call for a new CEO attracted candidates from around the world, but in the end, the board chose Keehn, who is currently the vice president in charge of air service, business development, and ESG and stakeholder relations.
EPCOR announced on Oct. 28 that it has installed 24 new electric vehicle charging stations at eight sites around the city. The EV chargers are free for public use. Natural Resources Canada provided $210,000 to cover the installation costs.
MacEwan University is promoting its plans to construct a new business building in the heart of downtown. “MacEwan’s downtown campus is one of its greatest assets,” president and vice-chancellor Dr. Annette Trimbee said in a sponsored piece. “Being located in the heart of Edmonton’s business community allows us to share knowledge in ways that are adaptable, engaging, memorable and personal.”
John Day and Rob Seidel, who co-chair the capital fundraising campaign at MacEwan University, have a lot to say about the school’s “next chapter” in which it plans to become central to downtown revitalization by, among other things, constructing a new seven-story building to consolidate its downtown campus and increasing enrolment 60% by 2030. “The enhanced campus will be a powerful magnet for people whose knowledge, talents, and creativity will help fuel revitalization where it is needed most,” wrote Day and Seidel.
NorQuest College is one of eight educational institutions in the world to receive a Higher Ed XR Innovation Grant from Unity Social Impact and Meta Immersive Learning. The money will go towards the school for its Autism CanTech! program, supporting the development of a road map and team to adapt resources and XR courses for neurodiverse students.
The Ice District Plaza, billed as “the social hub at the heart of Canada’s largest mixed-use sports and entertainment district,” officially opened on Oct. 15. The space outside of Rogers Place had already hosted public gatherings during the Oilers’ playoff runs, but it is meant to be a year-round facility. “This was basically a dump,” Mayor Amarjeet Sohi said of the parking-lot-turned-plaza in an interview with Global News. “It’s been transformed completely.” ICE District was developed through a joint venture between Katz Group and ONE Properties.
The City of Edmonton chose PCL Construction to complete part of the Yellowhead Trail Freeway Conversion from St. Albert Trail to 97 Street, which is the “most technically complex” part of the project. Changes will include removing major traffic signals, adding service roads, adding interchanges at 127 Street and 115 Street, and straightening a curve between 121 Street and 107 Street to accommodate a future LRT bridge. Construction is scheduled to begin in 2023 and end in 2027.
Qualico has been chosen to develop the new 500,000-square-foot distribution centre for Leon’s Furniture Limited (LFL Group). The new facility will be located in the Northwest of Edmonton on 28 acres of land and is expected to open in 2024.
First Capital REIT said it has reduced GHG emissions across its portfolio by 14% over the last five years. “Reductions are achieved through operational best practices, energy efficiency assessments, and equipment retrofits & upgrades and we hope to continue this positive trend in the years to come.”
The University of Alberta rose to 118th place in the Times Higher Education 2023 World University Ranking, putting it among the top 7% of almost 1,800 universities around the world. Among the factors for its ascent was “an astronomical rise in the industry income area,” which is based on an institution’s “ability to help industry with innovations,” reports Folio.
Aspen Properties executive chairman Scott Hutcheson told attendees at the Calgary Real Estate Forum that his company is “competing against the kitchen table of work-from-home.” Aspen has gone “amenity-rich” at its properties as a result. “That’s really what office space has to be: more exciting than your kitchen table.”
B.C. companies seeking industrial real estate are finding Alberta attractive, reports Storeys, citing lower prices, higher availability, and less red tape. An acre of land that would cost more than $4 million in B.C. can be had for closer to $400,000 in Alberta, said David St. Cyr of Avison Young.
BOMA Edmonton was a partner in the forward/slash economic summit, hosted on Sept. 28 by Edmonton Global. “This event is about all of us coming together and celebrating the opportunities here, and getting on the same page so that we can really be ambassadors for this region outside of this region,” president Lisa Baroldi told Amplomedia. “We don’t want to be a secret anymore!”
Alberta Investment Management Corporation CEO Evan Siddall said AIMCo will not divest from fossil fuels, as other pension funds have done, but rather would be exploring opportunities to invest in oil and gas companies as a way to finance the transition to a low-carbon economy. “We don’t believe in (divestment) at all, as a strategy,” he said, arguing that the energy sector has been investing significantly in emissions reduction. “So we think that deserves our support and that’s where we will invest. And we think that’s where the returns are, too.”
According to Colliers International, Edmonton’s industrial vacancy rate has fallen by nearly a third over the past year as strong demand for logistics space continues. A total of 10 projects totalling 1.4 million square feet commenced during the third quarter.
West Edmonton Mall is ahead of the curve in hosting ambitious events, a growing trend at Canadian shopping malls. “The job of the mall landlord has now shifted to be more hospitality-based,” said John Crombie, executive managing director of retail services at Cushman & Wakefield. “The concept of the mall is changing from a centre of transaction to a hub where community gathers.”
The Fort McMurray Airport Authority has been nominated for two awards, in the categories of “Medium Business of the Year” and “Environment & Sustainability,” in Fort McMurray Chamber of Commerce’s 2022 Business Awards.
Alberta saw more than $1 billion of investment in commercial real estate in the second quarter of 2022, according to the latest fall outlook from JLL. A total of 24 transactions in rental multi-family in Edmonton worth more than $185 million closed in the quarter, “nearly doubling the first quarter volume,” said Samuel Dean, senior-vice president of capital markets for multi-family at JLL.
Thomas Burr of ONE Properties was part of a panel at the Canadian Apartment Investment Conference that discussed the intensification of existing properties. Multifamily housing is “a good hedge for inflation over the long haul and, with demographics as they are, we believe it will be a major part of our business,” he said. The company now has about 115 employees across its offices in Edmonton, Calgary, and Toronto.
The 2022 census revealed that Strathcona County‘s population has grown by 2% in the last four years, bringing its total population to just over 100,000. “We’ve reached a milestone mark, over 100,000 people strong,” said Mayor Rod Frank. “It’s positive to see the County’s continued growth and reflects on what a great community this is to live, work and enjoy.”
Strathcona County has agreed to a multi-year waste management with Claystone Waste to receive, dispose of, and process all municipal solid waste beginning Jan. 1, 2023. “As a community, we have developed an ambitious waste management road map that focuses on waste reduction, reuse, recycling, and recovery. We look forward to continuing these strategies with Claystone Waste,” Mayor Rod Frank said in a release.
Alberta Investment Management Corporation has opened an office in downtown Calgary, its fourth satellite office. “Coupled with our headquarters in Edmonton, AIMCo’s Calgary office will provide an avenue for us to attract the high calibre of talent necessary to fulfill our purpose of helping our clients collectively secure a better financial future for the Albertans they serve,” said Krista Pell, chief human resources officer at AIMCo.”
Members of the JEN COL Construction team participated in the 47th annual NAIT bridge-building competition — the first since 2019 — finishing with the third-fastest time of the day. “We’re proud to support and participate in events like this to build bridges between students and our industry while also helping collect food donations for Edmonton’s Food Bank.”
Servus Credit Union has released its financial records for the third quarter and reports it has surpassed $18 billion in assets in mid-Q3 despite market volatility. “Achieving this milestone at this time in history is a testament to the trust that our members have in Servus,” said president and CEO Ian Burns.
First Onsite Restoration has partnered with Alert Labs, a provider of solutions for real-time water usage monitoring, flood detection, and analytics. “The partnership will help First Onsite’s commercial clients proactively minimize water damage, reducing emergency repairs and disruptions to building services while improving water conservation efforts,” it said.
Action Electrical, launched in 1973 by Don Bunting, has grown into a thriving corporation with four divisions and more than 100 staff. “We choose our key people and allow them to grow into their positions so they can be successful in ways that are meaningful and attainable for them,” said Bunting.
Alberta Health Services is outsourcing the rest of its food vendors in Edmonton and Calgary, entering into negotiations with Aramark, Compass, and Sodexo to provide food at facilities such as the University of Alberta Hospital, Royal Alexandra Hospital, and Glenrose Rehabilitation Hospital.
Real estate investments in Edmonton saw a strong second quarter with a $930-million increase to $1.46 billion. The largest transaction of 2022 so far is the $60-million purchase of 150 acres by Air Products for its hydrogen power project. Another big purchase saw the sale of 60.6 acres of agricultural land at 18103 17 St. NE for $3.35 million, which broker Avison Young sees as a potential residential development.
Avison Young noted a significant increase in foot traffic in the downtown core in the second quarter of 2022, with the average weekly visitor volume rising from 4,314 in April to 9,432 by the end of May, a period that coincided with the Oilers’ playoff run. “This dramatic increase in foot traffic (over 100%) is approximately 2,000 persons higher than the previously highest observed point since Avison Young began tracking this data in 2019,” the firm said.
Several landlords are offering “aggressive incentives” such as early occupancy and higher tenant improvement allowances to try to address downtown Edmonton’s high vacancy rate, according to CBRE. Taylor Riar, a senior associated with Colliers International in Edmonton, said things could be looking up. “I think we’re very close to where the bottom of the market is,” he said. “We are starting to turn the corner based on the level of activity that we’re seeing.”
CBRE blogged about how vice-president Trevor Schmidt has helped the Little Potato Co. expand into new facilities four times since 2006, including the latest move into a 240,000-square-foot custom-designed and fully automated production facility in Nisku. “To have an agricultural processing facility there, it’s a welcome new use,” Schmidt said, noting diversification in an area that has tended to concentrate on the energy service sector.
The Edmonton International Airport (YEG) has been named the first host of the start.hub logistics, to be held during a major air cargo forum in Miami. Mammen Tharakan, director of e-commerce, cargo, and aviation real estate for YEG, welcomed the opportunity to participate in an event that is “creating a new space for entrepreneurs committed to sustainable innovation to connect with logistics leaders from around the world.”
Hydra Energy, which converts heavy-duty trucks from gas to hydrogen, announced that its first hydrogen-powered armoured vehicle will begin making return-to-base trips around the Edmonton area. It is owned by Veteran Express Secure Logistics (VEXSL), which aims to convert almost all of its armoured fleet to hydrogen and use refuelling infrastructure at the Edmonton International Airport.
The federal government announced the launch of the Net-Zero Challenge to recognize businesses that are developing cleaner means of doing business. The Edmonton Regional Airports Authority is one of the 12 founding members committed to developing and implementing credible and effective plans to transition their facilities and operations to net-zero emissions by 2050.
The Edmonton Police Service has launched a $50,000 challenge through the Community Solutions Accelerator to seek ideas and technological innovations to address the problem of catalytic converter thefts. EPS said thefts in Edmonton have increased 219% over the last three years. The deadline for entries is Nov. 30.
The Robert Tegler Trust Outreach Service at the Edmonton Public Library is helping to get resources into the hands of at-risk Edmontonians. Outside the office is a phone that connects people to one of three social workers, who offer help in accessing housing, navigating the justice system, finding mental health supports, and more. “A lot of people have in their minds that a library is just a place to read or get books or maybe go on the computer, but the library is actually at the front lines have a lot of social issues,” said outreach worker Hilary Kirkpatrick. The service saw 1,084 interactions in 2021 and 1,057 so far in 2022.
Field Law managing partner Jeremiah Kowalchuk said retention issues are impacting law firms across the country with an “unprecedentedly high” number of lawyers moving jobs. “That has driven salary compensation up, which, of course, is a challenge for all firms to meet,” he said.
JLL reported strong transaction activity in the second quarter, at $426 million in Edmonton. CEO Alan MacKenzie said there’s a shrinking pool of buyers for class-B and -C office product in markets like Calgary and Edmonton.
ONE Properties president and CEO Darren Durstling was featured in the Spring 2022 edition of Canadian Real Estate Forum’s magazine. He suggested some of the inflationary and logistical challenges facing builds in Toronto are less of a concern in Edmonton, though everyone is dealing with high construction costs. The edition also includes comments from Elan MacDonald, University of Alberta‘s VP of External Relations, Dave Young with CBRE Limited, and Cory Wosnack with Avison Young.
ONE Properties is celebrating 35 years in business with a feature in Business in Edmonton magazine in which CEO Darren Durstling touched on what’s next. “We will be focusing on investment and development in our core competencies of industrial, multi-family and retail real estate, and our capabilities in property and asset management to create economic value in our communities for our partners and our employees.”
The return of an eight-metre high digital sign on 109 Street has been approved, after Pattison Outdoor Advertising successfully appealed a City of Edmonton decision to ban the billboard. “109 Street is a commercial corridor for which freestanding digital … signs are reasonably compatible,” said a ruling from the Edmonton Subdivision and Development Appeal Board.
The University of Alberta has offered a look inside University Commons, “an exciting blend of the history of the former Dentistry/Pharmacy Centre with a renewed purpose to serve our diverse community now and into the future.”
The Faces of Wellness campaign from Alberta Blue Cross is back for another year. Nominations for Albertans who are everyday champions for wellness in their communities are being accepted until Nov. 1.
Allmar is celebrating 65 years in business this summer. “Allmar operates in 13 cities across Canada, and we enjoy meeting our customers’ needs for architectural hardware, doors and frames, access control, miscellaneous specialties, security products, automatic operators and much more.”
Canderel West has published its 2021 ESG Report, which highlights a 2.9% reduction in energy use compared to 2020, and 9.5 million square feet of leasable space LEED and BOMA BEST certified.
ONE Properties said its Northwest Business Park – Building 5 property at 13431 149 Street in Edmonton has achieved BOMA BEST Gold certification. “Sustainable features of the property include a high-performance building envelope, highly efficient and controllable HVAC and lighting, and frequent tenant engagement initiatives to support occupant well-being.”
Justin Nand, an accountant with Pace Technologies, offered advice to new students in a feature for Techlifetoday. “Don’t simply go to NAIT, be part of it. Get involved on campus with clubs, volunteering, athletics and skills competitions.”
Alberta Blue Cross has launched its own flight delay service powered by Blink Parametric, enabling policyholders to register for flight delay coverage up to one hour ahead of their departure time. “This is an exciting move with Alberta Blue Cross and we are delighted to further strengthen our partnership with Blue Cross across Canada,” said Blink Parametric CEO Sid Mouncey.
Alberta Investment Management Corporation is considering Singapore rather than Hong Kong as its first office in Asia. Though just 2% of AIMCo’s $8.2 billion in private equity assets were in Asia last year, it plans to increase its allocation to Asia-based investments.
According to a new report from Altus Group, commercial real estate investment in Canada is experiencing a major resurgence, with $23.8 billion in transaction activity in the first quarter of 2022.
Anthem Properties said its D’Arcy Crossing development in Okotoks is now 70% leased. Senior director Isaac Beall said he expects it will be fully leased by the April 1, 2023 scheduled opening date. “It will be filled out with the smaller operators that come later, food service operators, doctors, dentists, hair salons, those kinds of things,” he said.
Edmonton has moved up three spots from last year to place 35th on CBRE‘s Scoring Tech Talent report, based on an analysis of labour market conditions, cost, and quality of highly skilled tech workers in North America. It ranked seventh among Canadian locations.
Paul Gemmel, senior vice-president of capital markets for CBRE Edmonton, has retired after 27 years and more than $4 billion in commercial property sales.
Edmonton’s industrial market is “red hot with low vacancies,” according to a report from Business in Edmonton Magazine. Demand for industrial space has been growing thanks to continued investment in the region and rising WTI crude oil prices. “Our challenge in the industrial market is just pure supply. There’s not a lot,” explained David Young of CBRE.
Marvin Schmidt, a senior wealth advisor with CIBC in Edmonton, is building dozens of schools in Guatemala. “Our mission to simplify the wealth of our clients exists alongside our social mission to change lives one school at a time,” he said.
Edmonton’s downtown office vacancy rate has risen more than 2% over the past year, reaching 19.2% by the end of June, according to the latest office market report from Colliers International. That’s up from 18.5% at the end of the first quarter and is the highest rate since 1986.
The Edmonton International Airport will receive $100 million through the federal government’s National Trade Corridors Fund to convert around 2,000 acres of land into an international cargo handling operation. Tom Ruth, CEO of EIA, said improving air capacity and market access is a driver for small- and medium-sized business growth and that the hub will be a “vital trade corridor for Canada” and “transformational for the Edmonton Metro Region.”
Edmonton Police Service Chief Dale McFee said controlled entrances at liquor stores are effective at reducing thefts and robberies, and should be implemented industry-wide. “We know that controlled entrances work, and it’s time to make them the industry-wide standard,” he said.
Innovate Edmonton and the Edmonton Public Library have teamed up to offer a free four-part series that teaches the fundamentals of entrepreneurship. Designed to help participants develop ideas into pitchable business plans, Innovation U began on July 7 and runs until Oct. 6, both online and in-person at the Stanley A. Milner library downtown.
The RiverWatch Institute of Alberta is once again offering its interpretive rafting tours, called Eco Floats, funded by EPCOR. This year, the guided experience begins at the Laurier Park Boat Launch and ends at Dawson Park, passing under nine bridges and past well-known sites like Accidental Beach. “It’s a little bit of a historical view of the city,” said guide River Hoffos, “but it’s also just an enlightening view of the city because you start to realize how much green we have and how beautiful our river valley is.”
P.F. Chang’s has officially opened in Windermere, the American chain’s third location in Canada. “We are thrilled that they have chosen our development for their first location in Alberta, and we know that this will be a one-of-a-kind culinary experience that will attract visitors not only from our city but our entire province,” said Tony Prsa, vice president of Alberta for Harvard Developments.
JLL‘s vice president of retail Paul Raimundo spoke with Retail Insider about Edmonton’s struggling downtown retail sector. “Going forward, there is some really good momentum in downtown in general,” he said. “As we turn the corner at the end of summer, I fully anticipate a much stronger fall as it relates to consumers in the downtown core.”
MacEwan University‘s growing enrolment is good news for downtown, says president and vice-chancellor Annette Trimbee in an op-ed for Postmedia. “Our grads become the business and community leaders who are building a more diverse and resilient future for Edmonton and Alberta,” she wrote. MacEwan plans to increase the size of its student body by 60% over the next 10 years.
Backwoods Energy has announced a partnership with Carvel Electric to “better provide local companies with a greater array of services, backed by solid performance in each area.” Both companies are Indigenous-owned. “The Backwoods Energy Services and Carvel Electric partnership is the future of thriving Indigenous partnerships,” said Carvel president and CEO Jordan Jolicoeur.
TC Energy said the 670-kilometre Coastal GasLink project is approximately 70% complete. The project is now expected to cost $11.2 billion, a 70% increase from the original estimate. “I want to reaffirm that we continue to see the Coastal GasLink project as economically viable and we anticipate mechanical in-service by the end of 2023, followed by commissioning and commercial in-service,” said CEO Francois Poirier.
Built Together, the program from Alberta Blue Cross that offers $50,000 grants for infrastructure projects designed to foster active living, has funded 38 projects across the province since its inception in 2013 for a total of $1.85 million. Applications for this year remain open until Sept. 15.
The Globe and Mail took a look at the upgrades landlords are making in downtown office buildings to compete with the new towers sprouting up around Rogers Place. “We’re seeing a flight to quality, to new products that have state-of-the-art HVAC and mechanical systems, larger floor plates and offer lifestyle and amenity-rich environments and social hubs,” said Mark Hartum of Avison Young principal.
Commerce South Office Park – Building B, which is owned and managed by BentallGreenOak, was recognized as a leader in energy efficiency by ENERGY STAR Canada. It was named a “building of the year” in the office category for existing commercial and institutional buildings that demonstrate energy efficiency.
The Edmonton Police Service is asking businesses and homeowners to voluntarily register the location of security cameras in a new program called Public Camera Registry. “Residential and business security cameras often record evidence that can be used to investigate and, in many cases, solve a crime,” Sgt. Blake Schols said in a news release. “By choosing to register their home or business cameras, not only will citizens contribute to the enhanced safety of their community, but they will help reduce the time required for officers to complete an investigation by assisting in the identification of individuals involved in a crime.”
EPCOR has received an Outstanding Subscriber Award for Applied Research from the Water Research Foundation for its involvement in more than 50 WRF research projects. “We see great value in the work of the WRF, its long history of advocating for the water and wastewater sector, and its role as a catalyst for innovation and change,” said Jeff Charrois, senior manager of analytical operations and process development.
Design students from MacEwan University came up with some design solutions to transit safety issues as part of a partnership with Edmonton Transit Services. Third-year student Vik Chu conceptualized an app that lets trusted contacts know when a trip is completed successfully, while fourth-year student Lisa Cox developed infographics about existing safety tools that will soon be implemented by ETS.
Qualico Properties celebrated the beginning of Phase 2 of the Station Lands project, which will bring a new tower and 600 residential units to downtown Edmonton. The groundbreaking was welcomed by Holly Mah, chairwoman of the Chinatown Business Association. “The investments being made here at Station Lands by Qualico and their partners is such an important signal of their belief in the future of this historically and culturally rich part of Edmonton,” she said.
Qualico Properties held a grand opening on June 21 for Maskêkosihk Trail, a newly completed two-kilometre stretch of arterial road that is the first major roadway in the city to be given a Cree name. “Renaming this significant roadway in honour of the Cree First Nations is a show of respect and acknowledgement for the fact that we are creating new communities on Treaty 6 Territory,” the company said in a news release.
A new report published by the Business Council of Alberta recommends that Alberta become a global leader in carbon capture and storage, expand the use of new innovations in agriculture, and invest more in health and medical care advancements. Solving global challenges related to energy, food security, and wellness could lead to a more prosperous future for the province. Rohit Group of Companies president Rohit Gupta was a member of the executive task force that guided the project.
ServiceMaster Restore has celebrated its 20th anniversary, having grown to more than 140 staff members working out of a 40,000 square foot warehouse. “We’re looking forward to what can be accomplished in the next 20 years,” said co-founder Grant Miller.
The University of Alberta has launched Braiding Past, Present and Future — the school’s first formally endorsed Indigenous strategic plan — which aims to respond to the Truth and Reconciliation Commission (TRC)’s calls to action and bring Indigenous worldviews, histories, and knowledge to all its programs, Postmedia reports. “The plan recognizes our collective responsibility to acknowledge our history and to honour those who came before us and to follow the seven sacred teachings — love, respect, honesty, courage, wisdom, and humility,” wrote Florence Glanfield, the first vice-provost of Indigenous programming and research, who led the creation of the plan in consultation with an Indigenous Advisory Council.
The University of Alberta has moved up 16 places to rank 110th in the latest QS World University Rankings, placing it in the top 8% globally and fourth in Canada. The ranking follows its best ever showing in the CWUR World University Rankings for 2022, where it came in 77th out of nearly 20,000 universities.
AIMCo also said its Foundation for Financial Education is now accepting grant applications for 2022. Last year more than $200,000 in grants were delivered. The deadline to apply is Aug. 1.
Civida also published its 2021 annual report. “Civida faced many challenges in 2021, none larger than maintaining the safety and security of the homes we provide,” wrote interim CEO Mark Hoosein.
According to its 2021 annual review, GWL Realty Advisors completed almost $600 million of transaction activity and achieved a fifth consecutive GRESB 5 Star ranking for its managed portfolio.
Several Entuitive team members spoke with UrbanToronto.ca about the company’s work on the Port Lands bridges, described as “perhaps the most innovative and arresting architectural pieces to adorn the waterfront in decades.”
GWL Realty Advisors was recognized by BOMA International with two awards for properties in downtown Toronto — in the corporate facility and historical building categories — at the TOBY Awards in Nashville.
A deal leasing 548,000 square feet in APEX Business Park to MTE Logistix is Edmonton’s largest industrial lease of 2022 and one of the city’s top five largest-ever in a speculative build. “Closing such a sizeable deal before a facility is even built sends a strong signal that growth is coming from within the Edmonton market as well as from groups outside,” said Rob Iwaschuk of Avison Young.
JL Developments has purchased 27 acres of land from Cameron Development Corp. and Choice Properties REIT to be developed into residential units, commercial space, and new park space in Edmonton’s Clareview neighbourhood.
Edmonton’s Revillon Boardwalk Building is in the midst of a major redevelopment that will update the historic building with modern amenities and a sleek facelift. “The Revillon Boardwalk has been a hidden gem in the middle of downtown for decades,” said CBRE Edmonton sales representative Ryan O’Shaughnessy. “Now it’s being polished and getting ready for primetime.” The project is expected to be substantially completed later this year.
The Edmonton Public Library has launched a new pilot program called Ready. Set. READ! to support childhood literacy in 2,000 families across 13 neighbourhoods. The program, which delivers one book a month to participating children up to the age of five, costs $660,000 over five years to run, CTV News reports.
EPCOR‘s solar farm in the river valley has been named kīsikāw pīsim, Cree for “daylight sun.” Chief Billy Morin of the Enoch Cree Nation said the name was determined during a pipe ceremony earlier this year.
Canadian Lawyer featured Jennifer Addison for her work on building and leading the sustainability strategy for EPCOR. “We’re striving for environmental stewardship, and improving the quality of life for our communities,” Addison said.
MacEwan University has signed a memorandum of understanding with the Edmonton International Airport to collaborate on new internship and research opportunities for students and faculty and “create new jobs through innovation.” The school recently signed similar agreements with the Edmonton Elks, a handful of domestic and international hydrogen companies, and KLM Royal Dutch Airlines.
Stewart MacDonald, president of the Oilers Entertainment Group, said the Oilers playoff run has drawn people back to downtown. “It really was the vision, you know, eight, 10 years ago when Rogers Place was first conceived and designed and the impact it could have in downtown,” he said.
A community rally held in support of the Edmonton Oilers last month during the Battle of Alberta turned Churchill Square into a sea of orange and blue. “The city has been absolutely electric,” said Oilers Entertainment Group communications and gaming executive vice president Tim Shipton. “We can feel it every single day. The team can feel it. The passion that exists in the city for the Oilers.”
Several participants in the recent Edmonton Real Estate Forum suggested that improving Edmonton’s 19.8% office vacancy rate, the second-highest rate in Canada, requires focusing on social problems impacting downtown such as homelessness, poverty, and mental health issues. ONE Properties president and CEO Darren Durstling said there’s still confidence in class-A and class-AAA properties. “Where we see demand for office in Edmonton historically is from national or international clients or tenants – banks or insurance or law firms that are national or international in scale,” he said. “They want to elevate their position in Edmonton.”
There are currently about 750 workers from PCL Construction Management in the field constructing the Travers Solar Project in Vulcan County, the largest of its kind in Canada. “About 1.3-million solar panels will be installed on the overall site,” said project director Greg Sheremeta.
The century-old University of Alberta Ring Houses that were acquired by the Primavera Development Group are being relocated and repurposed. Ken Cantor, president of the Primavera Development Group, has indicated “great effort will be made to minimize structural damage during relocation of the Ring Houses.”
Commercial real estate in Edmonton is recovering, especially in warehouses and logistics spaces on the industrial side, and food and medical outlets on the retail side. “It’s definitely an uptick, and the demand is there,” said Kris Augustson, vice-president of Remington Development Corporation. “There are more e-commerce-related groups circling the market right now, so I think we will see that trend continue.”
Edmonton should expect a shortage of housing and commercial buildings due to supply chain issues, rising construction costs, rising interest rates, and a growing population, according to industry leaders who met at the Edmonton Real Estate Forum on May 18. Rohit Gupta, president of Rohit Group of Companies, said the demand for houses may outpace real estate developers’ capacity to build them.
Strathcona County has updated its three Pride crosswalks from the original six-colour design to the progress flag colours to signal the inclusion of BIPOC and trans people. “We’re proud to paint the crosswalks outside the Community Centre with the progress flag design,” said Mayor Rod Frank. “It’s important we have these visible signals that all community members are safe, welcome and celebrated here in Strathcona County.”
Anthem Properties Group has made its debut as a new home builder in Alberta with the completion and sale of its first two single-family homes. The company said house building is “a natural progression of our real estate journey, leveraging the expertise we’ve gained as an award-winning homebuilder in the Greater Sacramento area and as an experienced land and multifamily developer in Western Canada.”
Backwoods Energy announced its matting division is moving to a larger facility in Nisku. “We came here due to the low tax rates, great infrastructure, and access to transportation hubs. We look forward to growing our business here for years to come,” said CEO Mike Heck.
For the third year in a row, the City of St. Albert is one of 18 cities and towns across Canada to receive the Tree City of the World Award which recognizes communities that have created and implemented an effective long-term tree management and maintenance strategy.
First Capital Realty also announced a new redevelopment project at Sherwood Centre in Sherwood Park, adjacent to two of its other properties. “The combined synergy of these three sites provide a complete shopping experience for the residents of this vibrant community.”
MLT Aikins LLP has welcomed Ayana P. McAdam, who focuses her practice on insurance, labour and employment, wills and estates, real estate and litigation, to the Edmonton office.
Truspace wrote about how a productive workplace is mentally well. “Unhappy employees are more likely to take shortcuts at work and are less likely to form attachments with other employees, ultimately reducing the organization’s ability to retain talent.”
Demand from B.C. investors for single-tenant commercial properties in Alberta “has seen a tremendous increase” over the last year, reports Marcus & Millichap. Industrial and office properties in Calgary and Edmonton are generating annual yields from 1.5-2% higher than in Metro Vancouver, according to Cushman & Wakefield.
GFL Environmental is the newest naming sponsor at Canada Games Park in Thorold, Ontario. The company will also serve as the facility’s primary waste services provider.
TK Elevator published its first sustainability report and has set ambitious new emission reduction targets, including reducing emissions from its own business activities by 53% by 2030.
WSP Canada is acquiring John Wood Group PLC’s environment business for US$1.8 billion in support of its goal to boost net revenues by 30% by 2024. The Globe and Mail reports that the deal “cements (WSP)’s position as one of the world’s dominant players in sustainable development consulting.”
BOMA Edmonton Spotlight: May 2022
Mentions
The Alberta Investment Management Corporation (AIMCo) reported earning a record 14.7% return for 2021, which was well above the 8% it benchmarked. Public equity investments gained 23.4%, and its private equity holdings rose 65.9%, with its money market and fixed income investments losing 1.1%. AIMCo reported a 14.5% return in its $18.3 billion real estate department and a 19% return in its $10.6 billion infrastructure department.
Avison Young managing director Cory Wosnack said downtown Edmonton and Calgary are rebounding quickly. “Edmonton is really seeing a significant bounceback in the number of people that are frequenting our downtown,” he said. The return of in-person learning at Edmonton’s post-secondary institutions has helped.
Western Investor noted Leduc County’s success in attracting industrial users with its space, favourable tax rates, and maturing community. “A lot of those occupiers who are now in the Nisku, Leduc submarket are not necessarily tied to oil and gas,” said David St. Cyr of Avison Young. “This area of Edmonton has really caught their attention because of the amenities that are built into it, and the tax rate is important.” Hopewell Real Estate Services and Remington Development Corporation are among the major developers building or planning new facilities in the area.
Edmonton’s office vacancy rate remained stable in the first quarter of 2022, reports CBRE, saying it bodes well for the future as employees continue to return to offices. The Edmonton Office Market Report put out by Colliers International provided additional details, saying the downtown vacancy rate sits at 18.5% with an asking net rate of $17.19 per square foot.
For hotels, CBRE projects a modest recovery this year in Calgary and Edmonton for revenue available per room. “Calgary and Alberta’s challenge is that the activity related to the energy sector needs to return, and as restrictions are getting lifted visitations are also returning,” said David Ferguson, director for CBRE hotels.
Oilers Entertainment Group president and CEO Stew MacDonald spoke with CTV News about the playoff excitement that has been building in Edmonton as the Oilers take on the Los Angeles Kings in the first round. “The atmosphere continues to amp up, game after game after game,” he said.
A groundbreaking ceremony was held on April 8 for The Parks, a new residential development located at the corner of Jasper Avenue and 108 Street, just west of the future Warehouse Park. The project from Pangman Development and its partners — which will consist of three towers at heights of 13 storeys, 35 storeys, and 45 storeys — will offer more than 1,000 rental spaces once complete in the next seven to nine years.
Rohit Property Management vice president Adil Kodian told Postmedia that the changes in the City of Edmonton’s proposed omnibus zoning bylaw will “require a shift away from traditional forms of prescriptive to a more supportive and open regulatory environment.” A draft of the bylaw is expected to return to a council committee in November.
Stantec said in its 15th sustainability report that it “has achieved carbon neutrality for operations in the United Kingdom, New Zealand, and European Union.” The company also said 53% of its revenue is aligned with the United Nations’ Sustainable Development Goals (SDGs), up from 49% in 2020.
Construction on a new $41.1 million footbridge over the North Saskatchewan River connecting northeast Edmonton and Strathcona County is expected to begin as early as this summer now that funding agreements between the City of Edmonton, Strathcona County, and the River Valley Alliance have been finalized.
Altus Group has released its latest sustainability report, highlighting the progress made on its environmental, social, and governance initiatives. The company said it has a “light environmental footprint and carbon business model.”
Anthem Properties Group said in its spring 2022 newsletter that over the past year its real estate portfolio has “grown significantly across all of our asset classes,” with 500,000 square feet of new retail, industrial, rental residential, and office space added.
ONE Properties featured two members of its Edmonton office — Lisa Wilson and Kylee
Wolseley has launched a four-week wellness challenge for associates called Wise & Well, “intended to help motivate, inspire and support our associates’ health and wellness through a series of fun challenges.”
CIBC economist Andrew Grantham told Postmedia the bank thinks the Bank of Canada “will be concerned that inflation continues to surprise to the upside of their forecasts” and will want to “make sure that these strong inflation readings don’t start to impact longer-run inflation expectations.”
The six finalists for an architectural design competition launched by Public Services and Procurement Canada last year for Block 2, located directly across from Parliament Hill, have been unveiled. A winner will be announced later this spring.
TC Energy is working with Nikola Corporation to evaluate a plan for a hydrogen production hub in Crossfield, Alberta where it currently operates a natural gas storage facility. A final investment decision is expected by the end of 2023.
WSP Canada announced it is part of the delivery team for the ONxpress Transportation Partners (ONxpress) consortium that has reached commercial close on the GO Expansion – On-Corridor Works (OnCorr) project.
Applications for the 2022 COVID Community Roots program from Alberta Blue Cross opened on April 4, offering grants of up to $3,000 for community-led initiatives.
The grand opening of the Grande Prairie Regional Hospital was celebrated by Alberta’s minister of infrastructure, Prasad Panda. “Public infrastructure projects like this technologically advanced new hospital are an important part of Alberta’s economy,” Panda said. “Alberta Infrastructure is happy to have played a role in seeing this project completed.”
Sheila Botting, president of professional services for the Americas at Avison Young, said hybrid work arrangements doesn’t necessarily mean office space as we know it is going away. The organization’s Vitality Index showed that downtown foot traffic in Edmonton was down 57.1% since March 2020, a smaller drop than many cities including Calgary (74.8%) and Ottawa (83.3%).
Alberta’s industrial and commercial real estate market will not see much impact from a rebounding oil and gas industry, according to CBRE Limited. Since the pandemic started, the province has seen an acceleration in the diversity of tenants, with more cleantech and related industries occupying space and fewer oil companies needing space.
The Edmonton Police Service has launched its new Community Safety Data Portal in an effort to improve transparency and facilitate community engagement. The portal displays crime statistics across the city as well as overall trends and occurrences of crime at LRT stations and transit centres. EPS said this first version will evolve over time and that it is actively seeking feedback from users.
The Kitchen, a learning and community kitchen facility located on the second floor of the Edmonton Public Library‘s Stanley A. Milner location downtown, has opened to the public. The facility will offer courses in cooking, baking, and other food-related matters either directly or through partner organizations.
Altus Group‘s Diana Pricop provided an overview of Montreal’s real estate market during a recent webinar hosted by Urban Land Institute Toronto. Total investment activity in the city last year was $10.5 billion, up from $8.8 billion in 2019 and $7 billion in 2020.
Anthem Properties Group has teamed up with KingSett Capital to acquire an 8.34-acre mixed-use site in Burnaby that will eventually be home to 2,100 market condominiums, 340 rental units, and 60,000 square feet of retail and office space across five residential towers and two mid-rise rental buildings.
Greg Kwong, executive vice president and regional managing director for the Canadian Prairie region at CBRE Limited, said the amount of office space in Calgary’s downtown needs to be reduced through either demolition or repurposing.
Avison Young has hired Brandy Burdeniuk as director of environment, social, and governance (ESG) for North America. The former Edmontonian will be based in Toronto.
Cory Wosnack, managing director of Avison Young Commercial Real Estate, said Edmonton’s office vacancy rate is 17%, far below the 8% that is ideal for a balanced market. “Right now, property owners need to think of their ground level space as a loss leader: an opportunity to create the right programming that, even at a lower rental rate, is an attraction for the building,” he said.
CWB Financial Group has announced it will be the anchor tenant of the final tower overlooking the plaza in ICE District. The deal “cements Edmonton as CWB’s corporate home in the city where it was founded by local entrepreneurs 38 years ago,” it said in a news release. Construction of the new tower is underway with occupancy expected in late 2025.
An interview that RJ Steenstra, president and CEO of Fort McMurray Airport Authority, did with Airport Review in November 2021 is now available. Steenstra discussed priorities for the year ahead and exciting developments that Fort McMurray can look forward to. The airport recently received $5.3 million in federal funding for infrastructure upgrades and operational support.
Edmonton restaurant Filistix is creating a food hall on the MacEwan University campus and bringing a new dinner concept to its main downtown location in an effort to make it to the other side of the pandemic.
NorQuest College has launched its Machine Learning Analyst program to combine technical education with various specialized skills to give grads the ability to navigate the ever-changing world of work. “Machine learning is becoming ubiquitous. It’s really the future of data analytics,” said Shaunaugh Whelan, NorQuest’s technology program founder.
ONE Properties CEO Darren Durstling spoke with RENX about the 11 million square feet of space the company has under development in Edmonton, Calgary, and Toronto.
QuadReal Property Group has closed a $400 million green bond offering, the proceeds of which “will be invested to support sustainable initiatives on green buildings, renewable energy, resource and energy efficiency, pollution prevention, clean transportation, and climate change adaptation.”
The Canterbury Foundation wrote about the mental, emotional, and spiritual importance of keeping couples together. Many long-term care facilities don’t offer spaces for couples to love together while receiving specific care. “Through our brand new renovated memory care unit and our future enhanced supportive living unit on the horizon, we will now have such suites – so couples can stay together despite their individual needs, till death do they part,” said Sacha Cooper, business development and licensing manager.
