Member News

News and updates from BOMA Edmonton members.

BOMA Edmonton Spotlight:
November 2022

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  • According to data from Altus Group, the top development deal in a strong first half of 2022 for real estate investment in the Edmonton region was the $60-million purchase of 150 acres by Air Products for its multi-billion-dollar net-zero hydrogen energy complex. Demand for industrial assets has been high with total transactions up 68% over the same period in 2021, totalling $1.7 billion.
  • 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.
  • The Edmonton International Airport recently hosted a delegation of business leaders and investors from Japan’s Nagoya Chamber of Commerce and Industry to learn about the Edmonton region’s smart cities efforts, including the latest advancements in logistics technology.
  • Edmonton is the first Canadian city to join UNESCO’s Global Network of Learning Cities (GNLC), a collection of cities committed to excellence and learning for all. UNESCO’s press release highlights the City of Learners initiative, which has been run by the Edmonton Public Library since 2013.
  • 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.
  • Rohit Communities marketing manager Lina Nguyen said the company saw a rush of out-of-province buyers in the first half of the year, but added it always has a steady inventory with possession times ranging from a few weeks to a few months.
  • Strathcona County is spending $658,600 to add accessible parking stalls to areas outside walking paths, green spaces, and designated parks and playgrounds.

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Beyond Alberta

  • 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 Spotlight:
October 2022

Mentions

Posts and Publications

Beyond Alberta

BOMA Edmonton Spotlight:
September 2022

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Posts and Publications

Beyond Alberta

BOMA Edmonton Spotlight:
August 2022

Mentions

  • 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.”
  • EPCOR and Stantec were among the 50 companies named to the Corporate Knights list of Canada’s best corporate citizens for 2022.

Posts and Publications

Beyond Alberta

BOMA Edmonton Spotlight:
July 2022

Mentions

  • 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.
  • Spartan Controls and TC Energy are among the sponsors of the second CarbonTech accelerator, launched by Avatar Innovations, which runs until Oct. 27.
  • 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.

Posts and Publications

Beyond Alberta

BOMA Edmonton Spotlight:
June 2022

Mentions

Posts and Publications

Beyond Alberta

  • 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.
  • Public Services and Procurement Canada will deliver a new coaching service designed to “help bidders from diverse socio-economic groups that have had limited success bidding on federal procurement opportunities address the bidding challenges they have previously faced.”

BOMA Edmonton Spotlight:
May 2022

Mentions

Posts and Publications

Field Law explained Alberta’s new umbrella legislation for the regulation of 22 non-health professions in Alberta, expected to come into force by January.

Beyond Alberta

BOMA Edmonton Spotlight:
April 2022

Mentions

Posts and Publications

Beyond Alberta

BOMA Edmonton Spotlight: February 2022

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