After a couple of tough, post-recession years for the Alberta real estate market, this year’s most-read stories have a positive slant on he market. Many of the WesternInvestor.com’s most popular stories cover the provinces’ economic growth potential, as well as new developments showing confidence in the region’s recovery.
Here is our annual countdown of our five most-read Alberta stories in 2017.
Recent government changes have allowed Mexican properties to be owned outright by a foreigner, Western Investor reported back in February. Calgary-based developer Cary Mullen was one of the first to made headlines for finding profit resorts investments.
The Quarters Hotel and Residences boasts 80 stories, featuring hotel, condo and retail units. Our number four most-read story focused on the development, which will become the Edmonton skyline’s most impressive landmark.
Our third most-viewed story focus on the town of Lethbridge, which was recently named the fifth fastest-growing city in Canada and Avison Young’s pick the province’s strongest municipal economy. Readers read up on just what makes Lethbridge so promising, including a young population surge and new commercial projects across the city.
Our runner up for most-read web story spells promise for Calgary’s retail market. New Horizons Mall, slated for a 2018 opening, is already 95 per cent sold out. The development also made headlines for selling spaces rather than leasing them. The units sold to owner-operators or investors for $169,000 to $700,000, depending on square footage.
Our top 2017 story is a reminder of the tough times developers have faced in Alberta. The town of Canmore began construction on Bighorn Mountain resort 10 years, but ran into financial difficulties soon after. The site has lain unfinished since then, and is now facing demolition. However, doing away with the abandoned development holds a silver lining – the site can now make room for new projects.