Member News

News and updates from BOMA Edmonton and North members.

BOMA Edmonton Spotlight:
December 2024

BOMA Edmonton

Mentions

Posts and Publications

BOMA Edmonton Spotlight:
November 2024

BOMA Edmonton

Mentions

  • Avison Young president Mark Fieder said the Bank of Canada’s recent rate cut is promising for commercial real estate. “With this move, I expect investments to become more attractive — opening the door for more entry from institutional investors in particular,” he said.
  • Avison Young announced the $10.82 million sale of Yellowhead Industrial in Edmonton, a 111,700-square-foot property on Highway 16. The sale was completed through an off-market transaction.
  • Edmonton’s downtown offices are experiencing increased occupancy, indicating a positive trend for the local economy, CBRE‘s Dave Young told Global News. Developers in Edmonton are working hard to meet the rising demand for building projects, which is crucial for those involved in building operations and maintenance.
  • In the third quarter, Edmonton saw a decrease in downtown office vacancy rates, aligning with trends in Calgary, Waterloo, and Winnipeg. This trend suggests that as availability in top-tier spaces tightens, demand may shift to well-located, amenity-rich buildings of the next quality tier. “Owners of older offices have been hard-pressed to find tenants, but the uptick in office demand for quality space is a rising tide that could have broader benefits,” said CBRE‘s Marc Meehan.
  • Destination Canada has launched four new tourism corridors, including the Northern Sky Corridor connecting Edmonton to the Northwest Territories. “YEG has always been and will continue to be an important hub for the movement of passengers and cargo to and from Canada’s North, and we are committed to enhancing the visitor sector and ensuring that every part of the country thrives by sharing in the strength and opportunities this corridor provides,” the Edmonton International Airport said in a post.
  • The Healthy Streets Operations Centre pilot project in Edmonton’s Chinatown, aimed at reducing crime and disorder, is set to end in December, but the Edmonton Police Service will continue its multidisciplinary approach using internal funding. Despite concerns from community members about ongoing safety issues, improvements have been noted, and local leaders emphasize the need for a permanent police presence to maintain safety, and encourage business and residential growth.

Posts and Publications

BOMA Edmonton Spotlight:
October 2024

BOMA Edmonton

Mentions

Posts and Publications

BOMA Edmonton Spotlight:
September 2024

BOMA Edmonton

Mentions

  • The City of St. Albert is recruiting artists, engineers, designers, business owners, and community members to serve on a selection committee for the Art in Public Places Program.
  • Thieves have stolen cables from 12 electric vehicle charging stations in St. Albert, leaving just six of the city’s 26 stations operational. Police are investigating the thefts, which are part of a broader trend of copper wire thefts across North America. The City of St. Albert says it will cost thousands of dollars to repair the stations and is discussing protective measures with ATCO.
  • Edmonton city council has voted against a $250,000 grant program for businesses struggling with the impact of Valley Line West LRT construction on Stony Plain Road. The motion, which aimed to provide small payments to affected businesses, was rejected in an 8-5 vote due to concerns about its limited impact and the city’s ongoing budget challenges. Business owners have reported losing up to $15,000 a month due to construction impacts, but some councillors argued that the proposed $2,250 payments wouldn’t provide significant relief. Mayor Amarjeet Sohi and other council members cited the need to prioritize citywide financial challenges, including potential service cuts and higher property taxes.
  • Edmonton city council’s urban planning committee decided against amending the zoning bylaw to reduce the maximum floor area of home-based businesses in some zones. City planner Trevor Illingworth explained the proposed changes to CBC’s Edmonton AM.
  • The Edmonton International Airport celebrated International Dog Day on Aug. 26 by highlighting the calming presence of therapy dogs at the airport, which help nervous travellers relax before flights. The airport, the first in Canada to implement a pet therapy program, also hosted an adoption drive with the Greater Edmonton Animal Rescue Society.
  • EPCOR announced it will match donations up to $250,000 to the Build with Boyle Legacy Campaign, which Boyle Street Community Services will put toward the operating costs of the new King Thunderbird Centre. Boyle Street’s executive director Jordan Reiniger said the organization had a “very successful” capital campaign, and is now transitioning to an endowment to meet the building’s operational needs. The Build with Boyle campaign raised $24 million from the community and $21 million from the Canadian government, while the province is one of the largest funders of ongoing programming and services, Reiniger said.
  • Qualico has acquired 340 acres in northeast Edmonton, known as Duggan Ranch, for residential and commercial development. The developer intends to build more than 1,700 single-family homes, 24 acres of commercial space, and multifamily homes.
  • Strathcona County is looking to collaborate with Indigenous communities on a monument to honour Indigenous peoples and recognize the legacies of residential schools.

Posts and Publications

BOMA Edmonton Spotlight:
August 2024

BOMA Edmonton

Mentions

  • Alberta Infrastructure and the federal government have renewed a 10-year agreement for the Canada Community-Building Fund, allocating more than $1.3 billion to Alberta in the first five years for critical infrastructure projects. The funding will support the construction, maintenance, and expansion of infrastructure, including roads, recreational facilities, and housing-related projects, a news release said.
  • Alberta Municipalities president Tyler Gandam says harassment and bullying of elected officials has been on the rise in recent years, especially on social media. Gandam says he’s been targeted by at least a hundred incidents, adding it is “absolutely unacceptable” for officials to go to work feeling threatened.
  • Applied Pharmaceutical Innovation‘s Critical Medicines Production Centre, set to be completed in 2026, will contain incubator space for health innovation startups, CEO Andrew MacIsaac said. The organization will also act as a steward of the wider Edmonton Research Park, leading programming and support for the businesses who call the park home. Establishing a steward is one of six action items that came out of a working group that was formed to guide the future of the park.
  • Between January 2023 and May 2024, 12 office buildings in Edmonton were sold, primarily by large investment funds to local investors, according to Cory Wosnack of Avison Young‘s Edmonton office. This shift reflects institutional investors reallocating their portfolios away from real estate, while local investors find opportunities in a less competitive market. The buildings, mostly Class B from the early ’80s, were sold at relatively low prices, with future plans focusing on upgrades and potential conversions. Companies involved in the sales include Avison Young, Manulife Real Estate, Rohit Group of Companies, and Triovest Realty Advisors.
  • L’OCA Quality Market, facilitated by Avison Young, is set to begin construction on a 30,000-square-foot upscale supermarket in Erin Ridge, St. Albert, this fall, with an expected opening in early 2026.
  • Momentum is growing in Edmonton’s commercial real estate market, according to CBRE. The city’s commercial sector is seeing increased activity and investment, signalling a positive trend for building operations and maintenance professionals. The downtown vacancy rate remains stable at 22.3%, despite the overall city vacancy rate of 20.6% being skewed by high vacancies in lower-quality buildings. Experts from CBRE and Colliers note that high-quality buildings with better amenities are attracting more leases, while older, less-equipped buildings struggle.
  • Dave Young of CBRE said the city’s commercial real estate market maintained momentum in the last quarter, especially downtown, in part thanks to the return of a farmers’ market and the Edmonton Oilers Stanley Cup run.

Posts and Publications

BOMA Edmonton Spotlight:
July 2024

BOMA Edmonton

  • BOMA Edmonton president and CEO Lisa Baroldi wrote an op-ed about how the Edmonton Oilers showed that “We the North” is really Edmonton. “This is our chance as a city and as a greater northern region to ride this awareness wave, to peel back the layers of who we are and what makes us special and share that with the rest of the world,” Baroldi wrote.
  • BOMA Edmonton is collaborating with the Edmonton Downtown Business Association and the Downtown Revitalization Coalition to survey building owners, property managers, service providers, and tenants in Canadian downtown cores. “This research aims to support informed decision-making and advocacy efforts at both local and national levels, BOMA said in a post.

Mentions

  • EPCOR is set to start billing some private golf courses, cemeteries, and City of Edmonton properties for stormwater services, which could help it generate millions in additional revenue and help ensure a fairer distribution of costs among all users. [EPCOR has also proposed a 2.9% increase in wastewater rates starting April 2025, which will be reviewed in a public hearing this October.
  • Downtown Edmonton is revitalizing post-pandemic with new retail stores, dining options, and community spaces, highlighted by the success of the ICE District during the NHL playoffs, according to some business leaders. Vibrancy projects, flexible bylaws, and pedestrian-friendly corridors are helping to increase foot traffic. However, challenges remain with empty office spaces and underutilized areas, although efforts to convert office towers to residences and support new retailers show promise for sustained growth and vibrancy.
  • Kingsway Mall, managed by Oxford Properties, has nearly doubled the size of its rooftop garden to 54 planters, aiming to donate 300 pounds of fresh produce to Edmonton’s Food Bank this year, compared to 100 pounds donated last year. The initiative, in partnership with MicroHabitat, also includes the addition of the mall’s first beehive. The food bank has seen a 44% increase in demand over the past four years.
  • The City of Leduc credits AI with reducing the contamination rate in its compost collection from 20% to less than 10%. The city’s garbage trucks have cameras that can identify non-compostable items such as plastic bags.
  • Developers largely oppose the City of Edmonton‘s recommendation to halt planning and development on the city’s edges until 2029, arguing it could exacerbate the housing affordability crisis as the population continues to grow. City administration’s strategy is to complete infrastructure and amenities in Edmonton’s existing development areas before expanding to newly annexed lands, to help reduce expensive sprawl and meet climate goals. Adil Kodian of Rohit Group spoke to CBC’s Edmonton AM about the proposed policy.
  • Stantec and EPCOR made Corporate Knight’s list of the top 50 corporate citizens of Canada.
  • Strathcona County has reversed course on enforcing paid parking at Festival Place during weekdays from 7am to 5pm. Ward 1 Coun. Robert Parks said better signage around Festival Place would help manage demand, and that charging for parking is not needed now.
  • The University of Alberta has climbed to 96th in the world and fourth in Canada in the 2025 QS World University Rankings, an improvement of 15 spots over the previous year. The ratings reflect the university’s gains in sustainability, citations per faculty, employer reputation, and international research.
  • The University of Alberta ranked sixth globally and first in North America in the 2024 Times Higher Education Impact rankings. The rankings assess an institution’s efforts to realize the United Nations’ Sustainable Development Goals.
  • Dan Mason, professor of sport management at the University of Alberta, spoke to CBC’s Edmonton AM about the economic impact of the Edmonton Oilers playoff run.

Posts and Publications

BOMA Edmonton Spotlight:
June 2024

BOMA Edmonton

Mentions

Posts and Publications

BOMA Edmonton Spotlight:
May 2024

BOMA Edmonton

Mentions

Posts and Publications

BOMA Edmonton Spotlight:
April 2024

BOMA Edmonton

Mentions

Posts and Publications

BOMA Edmonton Spotlight:
March 2024

BOMA Edmonton

Mentions

  • The 2024 provincial budget commitments to Edmonton include money for police, infrastructure, post-secondary education, and health. The budget would fund 100 new street-level police in Edmonton and Calgary, fighting gun and gang violence, upgrading correctional facilities, and adding “hundreds” of shelter spaces in Edmonton. Major infrastructure investments include upgrades to Yellowhead Trail, Terwillegar Drive, Ray Gibbon Drive, and LRT projects, along with funding for MacEwan University. In a release, Alberta Municipalities said it is “extremely discouraged” by the proposed budget, noting money allocated to municipalities through the Local Government Fiscal Framework is “far short of what is needed” to address infrastructure needs.
  • Alberta Municipalities president Tyler Gandam spoke with Shaye Ganam at 630 CHED about whether Alberta will see political parties attached to municipal election candidates. A recent survey conducted for Alberta Municipalities found that 68% of Albertans oppose the introduction of partisan politics in local government and school board elections. “While political parties serve a purpose at the national and provincial levels due to differences in regional needs, they are unnecessary at the community level,” Gandam wrote in an op-ed.
  • Edmonton’s commercial real estate market is expected to improve in 2024, thanks in part to industrial growth and reduced office space vacancy. Mid-sized investment deals are also expected to drive recovery, according to CBRE. Building owners will need to ensure they have the right amenities to attract and retain tenants, said CBRE’s Dave Young, adding he has “renewed optimism in the province.”
  • The City of Edmonton‘s chief corporate economist, Felicia Mutheardy, is predicting stable economic growth for the city in 2023-24, with GDP levels expected to return to pre-pandemic figures. Despite the optimism, Mutheardy said there are concerns about how a rapidly increasing population could impact affordability in Edmonton. While she characterized the city’s labour market in 2023 as “resilient,” employment growth is expected to slow in 2024 because of high inflation and interest rates.
  • The Edmonton International Airport is pursuing hydrogen innovation not only for its own energy needs but also as a way to support innovation, economic growth, and sustainability across sectors, said CEO Myron Keehn. “I see an incredible opportunity to leverage our position and make substantial contributions to this transformative global shift,” he told Disruption Magazine.

Posts and Publications

Beyond Edmonton

  • The Edmonton Metropolitan Regional Board completed the region’s first climate risk and vulnerability assessment. The report provides 24 actions to guide climate resilience. “According to the report, the region could lose $4 billion annually by the 2050s if no action is taken,” the board said. “Understanding the most serious climate risks and knowing the pathways to resilience will help ensure the region remains a reliable and safe place to live and invest.”

BOMA Edmonton Spotlight:
February 2024

BOMA Edmonton

Mentions

Posts and Publications

Beyond Edmonton

BOMA Edmonton Spotlight:
January 2024

BOMA Edmonton

  • BOMA Edmonton president Lisa Baroldi spoke with Taproot Edmonton about plans to fill some vacant office towers with vertical farms. “I think that building owners should have the freedom to transform their buildings into whatever they see fit and that incentives ought to be in place and support in place for the types of conversions that address (downtown vibrancy and food security),” Baroldi said.

Mentions

Posts and Publications

  • BOMA Edmonton president Lisa Baroldi spoke with Taproot Edmonton about plans to fill some vacant office towers with vertical farms. “I think that building owners should have the freedom to transform their buildings into whatever they see fit and that incentives ought to be in place and support in place for the types of conversions that address (downtown vibrancy and food security),” Baroldi said.

Mentions

  • BOMA Edmonton president Lisa Baroldi spoke with Taproot Edmonton about plans to fill some vacant office towers with vertical farms. “I think that building owners should have the freedom to transform their buildings into whatever they see fit and that incentives ought to be in place and support in place for the types of conversions that address (downtown vibrancy and food security),” Baroldi said.