Why Edmonton City Councillors are Approving New Projects

It’s a good time to be a developer in Edmonton. Let’s preface that by acknowledging our appreciation for the development community.  Not only is Alberta navigating its way through the worst provincial recession in decades, but developers are constantly fighting narrowing margins and tepid demand as they endeavor to make our city a better place to live[…]

City of Edmonton Commercial Taxes Hit a Pothole

The City of Edmonton will be releasing the mill rates in the next week or so and we’re expecting a non-residential rate over 20.00 (expressed in mills).  We’re basing this prediction on the fact that property assessments have declined from last year yet the City is on a spending bender.  Declining values and increased spending[…]

Another REIT makes a Large Sale

The prolonged downward pressure on oil prices has unsurprisingly percolated throughout the commercial real estate market.  We reported last week on 4 downtown Edmonton office towers that were sold for dramatically lower prices than what they were purchased for. It’s important to note that we do not believe those sales to be representative of the entire[…]

4 Edmonton Office Towers Just Sold for Surprising Prices

When a large, national Real Estate Investment Trust decided to offload their Alberta assets, they wasted little time disposing roughly $200 million worth of office buildings.  These sales come on the heels of writing down $748 million for their portfolio in Q2 of last year. The decision to sell was likely driven by the large[…]