Alberta

Canadian Apartment Properties Real Estate Investment Trust ("CAPREIT") (TSX:CAR.UN) has bought two apartment properties in Calgary totalling 405 residential suites. The purchase price for the two properties was approximately $68.

Edmonton's new office towers are leasing fast The redeveloped First&Jasper office tower in Edmonton doesn't complete until December, but all 220,000 square feet of its sleek new space has already been leased.

What that will produce in the long-term for the local economy remains to be seen.

JEDI is aiming to attract business with a clear-cut marketing campaign and low-cost land. In the last two years the initiative has completed a growth strategy, a new investment guide and a cheeky guarantee for potential investors.

Calgary's downtown Class A office space now has only a 1.4 per cent vacancy rate, according to a report from Altus Insite, which believes lease rates and property prices are poised to increase.

The average household income last year in Fort McMurray, Alberta was $177,634, according to Statistics Canada. This is 95 per cent higher than the national average and is expected to be even higher in 2012.

A plan for big-box retail development at the base of Canada Olympic Park (COP) slopes has been nixed by the City of Calgary. The proposal, which would have included approximately 22 hectares of land, was voted down by city council in mid-June.

It should be no surprise the last 12 months have brought a bit of a boom back to communities in rural Alberta – at least when one considers the stats in the Energy Resources Conservation Board’s 2011 annual report.

Buying vacation homes in two of Alberta’s most prominent resort communities cost less in early 2012 than it did a year ago, according to Re/Max Real Estate. The trend reflects recreational markets across most of the west.

It may be easier to find a vacant apartment in Fort McMurray these days than it once was, thanks to an increase in vacancy in the oilsands capital, but that doesn’t mean apartments there are exactly affordable.