Alberta

Vacancy continues to shrink in Calgary's downtown office-space market. According to the latest downtown report from Colliers International, available space in the city's office core shrunk to 4.

"It was partially to satisfy local demand here, but also part of the strategy to retain people here in the city and attract people to the city." The latest building and development data suggest it might be doing that.

Calgary represents the best commercial real estate market in Western Canada and will set new standards for leases rates this decade, a panel of experts told a NAOIP meeting in Vancouver this month.

With housing sales down 13.2 per cent through the first four months of this year, Vancouver’s residential market is “clearly weakening” according to a study by the Bank of Montreal (BMO).

The race for space in Edmonton's office market is expected to heat up very soon thanks to a resurgent oilpatch and the demand it is placing on office space in Alberta's capital. The result: rents could increase by up to 20 per cent.

The prospect of finding a more affordable place to build your dream home in the Highway 2 corridor between Edmonton and Calgary recently improved in the community of Didsbury.

Redevelopment of Calgary's East Village (EV) neighbourhood by the Calgary Municipal Land Corporation (CMLC) recently marked another significant milestone. The city-owned CMLC opened a $2.4 million experience centre in late March.

The first two months of the year produced a notable increase in building-permit activity in Alberta's capital. The City of Edmonton granted permits for just over $441.3 million in construction in January and February of 2012.

The fallout from a key court decision in November 2011 is starting to show up in how some Alberta municipalities collect fees from the development industry.

Reddy, who moved to the 'Hat from Fort McMurray, understands a little about moving building activity along.