Edmonton Real Estate Market

[IanO]

City Building at the U of A - 2nd Annual

Continuing the Conversation



Welcome to the 2nd Annual City Building Conference presented by the Centre for Cities and Communities at the Alberta School of Business, with special thanks to the Alberta Real Estate Foundation's generous support! This year we will build upon the success of our first conference with more opportunities to connect and collaborate with fellow academics and industry leaders. The day will be filled with presentations, workshops and breakout sessions diving into all things City Building. Registration will include lunch and refreshments throughout the day. See below for a general outline of the day. We look forward to seeing you there!

Conference Registration Fee is $31.50
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City Building at the U of A: 2nd Annual - Thu, Mar 30, 2023

app.groupize.com

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2nd Annual City Building at the U of A Conference



8:00 Registration Begins



8:30 Opening Remarks - Kyle Murray, PhD, Acting Dean, Alberta School of Business



8:45 - 12:05 Morning Sessions include:

Panel – Building a Just City

Chaired by: Damian Collins, PhD, Director, Community Housing Canada Research Partnership, and Professor in the Faculty of Science
Breakout Session 1:

A) Panel - Retail's Growth Outlook

Chaired by: Chad Griffiths, Partner, Associate Broker, NAI Commercial Real Estate
B) Panel - City Building for Changing Demographics

Chaired by: Allison Watson, Associate Vice President, Leger
C) City of Edmonton Zoning Bylaw Renewal and District Planning: Planning for Change

Presentation - Engaging Students in Addressing Complex Challenges

Leo Wong, Associate Dean, School of Business Office of Education
Panel - What goes into housing affordability, and why it matters.

Chaired by: Kalen Anderson, Executive Director, Urban Development Institute (UDI) Edmonton Metro


12:05 LUNCH



1:05 Keynote: Catherine Warren, Chief Executive Officer, Edmonton Unlimited



1:50 - 4:35 Afternoon Sessions include:

Breakout Session 2:

A) Panel - Smart Sustainable Buildings

Eleni Stroulia, PhD, Acting Vice Dean, Faculty of Science
Ahmed Hammad, PhD, PEng, PMP, Associate Professor, Faculty of Engineering
David Dale-Johnson, PhD, Stan Melton Executive Professor and Director, Centre for Cities and Communities
Tracey Didluck, Project Manager, Integrated Planning, Development and Partnerships, U of A Facilities and Operations
B) Research Update - Partnering to Improve and Elevate Health and Wellbeing Outcomes in the Planning and Development of Housing and Neighbourhoods

Karen Lee, MD, MHSc, FRCPC, Director, Housing for Health
C) City of Edmonton Zoning Bylaw Renewal and District Planning: Planning for Change

Panel – The Future of Downtowns, Presented by the Downtown Recovery Coalition

Chaired by: Alexandra Hryciw, Director of Strategy and External Relations, Edmonton Chamber of Commerce, Chair, Downtown Recovery Coalition
Breakout Session 3:

A) Presentation – Reimagining Cities in the Post Pandemic World

Paul Messinger, Associate Professor, Alberta School of Business
Kishwar Habib, PhD, Project Lead, Reimagining Architects and Post-doctoral Fellow, University of Alberta
B) Workshop - Why do we not have longer term fixed rate mortgages in Canada?

David Dale-Johnson, PhD, Stan Melton Executive Professor and Director, Centre for Cities and Communities
C) City of Edmonton Zoning Bylaw Renewal and District Planning: Planning for Change


4:35 - 5:30 Closing Remarks and Reception

 

[Guy 1]

^that's a very smart collection of people - If I was in town, I'd be there in a heartbeat.

 

[IanO]

Jim McKinnonJim McKinnon• 1st• 1stPartner - AICRE - 780.719.8183 - ALBERTA INDUSTRIAL & COMMERCIAL REAL ESTATE - jim@aicrecommercial.comPartner - AICRE - 780.719.8183 - ALBERTA INDUSTRIAL & COMMERCIAL REAL ESTATE - jim@aicrecommercial.com
21m • 21m •

EDMONTON, ALBERTA INDUSTRIAL UPDATE - APRIL 2023:
Edmonton's Industrial real estate market remained steady over the first quarter of 2023 with the vacancy rate continuing to hover around 3.5%. The market still holds appeal to groups out of province battling limited availability in other markets and lease rates up to 50% greater (on Base $/SF) than Edmonton. Absorption slowed a little during Q1, although there is currently over 4,000,000 SF of Industrial product under construction through the city, predominantly new distribution / warehousing product.
.
1. VACANCY: Plateaued around 3.5% through first quarter in Greater Edmonton – not much movement in vacancy from start of year to end Q1.

2. ABSORBTION: Net Absorption of over 6,000,000 SF over the past 4 quarters.

3. INTEREST RATES: The Bank of Canada has increased its policy rate from 0.25% in March 2022 to the current level of 4.5% - the fast quickest rate rise in history. The higher prime rates / mortgage rates have affected borrowing capability of a number of groups.

 

[IanO]

All from:

U.S. and Canada Construction Outlook

Exploring key indicators for measuring the health of the construction industry and its near-term outlook

www.jll.ca

 

[IanO]

https://www.linkedin.com/in/nicholas-hrebien-41386285?miniProfileUrn=urn%3Ali%3Afs_miniProfile%3AACoAABIaJc8BmsNk_Xg4aZhjHhoqX0nr8FuMHNA&lipi=urn%3Ali%3Apage%3Ad_flagship3_feed%3BoOqiQ%2BzfQkKk%2FPBZdKFjzg%3D%3D

 

[David A]

It seems like things are fairly solid on the residential side

A different homebuyer is emerging in the Edmonton market

 

[KyleBlanchett]

Krispy Kreme Doughnut Chain Plans Cross-Canada Location Expansion after Downsizing [Interview]

The head of growth for Krispy Kreme Canada says that the retailer will grow its concept stores including cafes, theatre-style locations, and drive-thrus with deals being signed.

retail-insider.com

"He said a theatre hub will open later this year in Toronto and then Winnipeg will also likely open later this year. There’s a signed deal in Edmonton as well to open likely in Q3 of next year."

 

[IanO]

Second time is a charm for SEC?

 

[MacLac]

SEC had a KK? I don't remember - all I remember that whilst studying in the City of Cows in the mid 90's - going to the one at either Market Mall or Sunridge Mall. Don't think it lasted even a year.....yawn - who cares - I thought that fad had died?

 

[Gronk!]

Second time is a charm for SEC?

Maybe Krispy Kreme will re-open in the new downtown aka Windermere.
As for me, I'll continue to buy coffee and donuts from Take 5 and support local businesses.

 

[IanO]

SEC had a KK? I don't remember - all I remember that whilst studying in the City of Cows in the mid 90's - going to the one at either Market Mall or Sunridge Mall. Don't think it lasted even a year.....yawn - who cares - I thought that fad had died?

It didn't get across the finish line, but there was one proposed there and a lot of hype.

 

[David A]

Second time is a charm for SEC?

Does anyone realize if you draw a circle with SEC at the middle, it excludes at least half of Edmonton. The same size circle from downtown includes the whole city.

Heck, I even live on the south side and find it too much of a hike to go there. I realize these power centres are heavily promoted, but maybe the reason it failed the first time was because the market excluded half the city.

 

[IanO]

Interesting, but nope, it was a KK expansion pullback due to the media purporting that trans fats were bad + kale good.

 

[northlands]

Anyone remember when there was a Dunkin' Donuts just across from Capilano Mall?

 

[David A]

Yeah, the trans fat issue probably didn't help. For me I remember trying Krispy Kreme, being underwhelmed and feeling it was over hyped.

Maybe its a tentative test, but I don't think one location in on the edge of a large city is going to cut it, except to perhaps impress gullible investors about your expansion.