News from the past week underscores the topsy-turvy journey ahead during a recession and pandemic.
The local housing market is expecting overall sales and prices to climb, the Calgary Real Estate Board (CREB) announced Tuesday in its 2021 outlook, while an Avison Young report forecasts a rising vacancy rate for downtown office buildings.
A new study by ATB Capital Markets anticipates âsignificant improvements to the Canadian energy landscapeâ that could see the domestic industry outpace the U.S. oil and gas sector.
Yet, job losses are battering the sector with the U.S. blocking the Keystone XL pipeline project and layoffs happening this week at Cenovus Energy following its takeover of Husky Energy.
CALGARY A new report exploring the best places to live and work for members of the film industry has ranked Calgary number 10 among 25 cities across North America. The list, complied by MovieMaker, looked at major cities and considered numerous factors including, surveys, research on business environment, recent productions, visit to locations and quality of life. According to Calgary Economic Development, Calgary continues to show it’s one of the top destinations for film and television production in North America. “Calgary prides itself on being a film-friendly city for many reasons,” Mary Moran, president and chief executive officer of Calgary Economic Development, said in a release.
The Drilldown: Albertans lament Keystone XL demise ipolitics.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ipolitics.ca Daily Mail and Mail on Sunday newspapers.
Oilpatch woes boost Calgary s downtown office vacancy rates to record levels
by Dan Healing, The Canadian Press
Posted Jan 17, 2021 10:05 am EDT
Last Updated Jan 17, 2021 at 10:14 am EDT
A pedestrian wearing a mask walks through an empty downtown Calgary, Alta., Wednesday, Dec. 9, 2020, after new provincial restrictions were announced amid a worldwide COVID-19 pandemic. THE CANADIAN PRESS/Jeff McIntosh
CALGARY Vacancies in Calgary’s downtown office towers have risen to record levels and there’s no landlord relief in sight with almost one in three offices sitting empty and sublets accounting for a quarter of available spaces on the market.
The city’s glut of empty office space has previously been linked to overbuilding but two commercial real estate reports released this past week show that downtown vacancy rates in Canada’s oil and gas capital are the highest in the country and growing despite no major new towers opening in the past two years.
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Jeff McIntosh/The Canadian Press
Vacancies in Calgary’s downtown office towers have risen to record levels and there’s no landlord relief in sight with almost one in three offices sitting empty and sublets accounting for a quarter of available spaces on the market.
The city’s glut of empty office space has previously been linked to overbuilding but two commercial real estate reports released this past week show that downtown vacancy rates in Canada’s oil and gas capital are the highest in the country and growing – despite no major new towers opening in the past two years.