The latest issue of BOMA Edmonton Industry Insights & News: October 25, 2024

PERFORM BETTER WITH?BOMA

BOMA Edmonton is a leading commercial real estate association that helps members reach their performance goals. High-performing buildings, people, and portfolios are essential to your success, and we help make that happen.

• Canderel Group has completed a new amenity floor at Stantec Tower , featuring an 8,000 SF area with a gym, conference rooms, and an executive lounge opening onto a 10,000 SF rooftop patio. The next phase involves activating the rooftop patio, which is expected to become a central hub for connection and collaboration.?
• GH Construction has recently completed renovations at Citadel Dental located in Market at Citadel in St. Albert, owned and managed by RioCan , creating a modern interior.?
• Rohit Group of Companies announced significant progress on the Covenant Community Health Centre , a 190,000-square-foot facility set to complete in 2025.?
• SMP Engineering announced its involvement in the upcoming 2027 expansion of River Cree Resort & Casino , collaborating with DIALOG, EllisDon, and Probus Project Management.?
• Mill Woods Town Centre in southeast Edmonton will undergo significant redevelopment , including the construction of two 22-storey rental apartment buildings starting next year and the opening of a new grocery store by August 2025. The project is part of a long-term plan to build 6,000 to 8,000 homes and new retail spaces on the 22-hectare site. "It's really about building a strong community," said Bill Blais, president and CEO of Maclab Development Group , which owns the property.?

Safe Communities and Vibrant Economies

• Upcoming bridge construction in Edmonton is expected to cause traffic disruptions that will affect commuters and local businesses. Read the article: Gerein: Edmonton in store for years of traffic nightmares with major bridge construction that discusses the challenges and necessary adjustments anticipated during this infrastructure project.?
• KLM Royal Dutch Airlines will add two non-stop flights from the Edmonton International Airport to Amsterdam starting in November, bringing the weekly total to five.?
• Alberta and Edmonton at odds over data on homeless navigation centre explores the differing perspectives and implications surrounding this issue.?
• Together, BILD Edmonton Metro , Downtown Revitalization Coalition , Edmonton Chamber of Commerce , Edmonton Downtown Business Association , NAIOP Edmonton , and BOMA Edmonton , in addition to organizations and stakeholders across public, private, and community sectors, have unified their thoughts and ideas on what is needed to proactively secure the future of our downtown — in a Downtown Investment Plan. Read the plan here. ?
• Offices in Edmonton’s downtown core are seeing increased occupancy as businesses return to in-person operations. Dave Young Vice President & Managing Director at CBRE recently sat down with Global News to discuss this trend and downtown revitalization, including insights on a couple of buildings that have transacted. Watch the Global News interview here .?

Fair and Equitable Taxation, Regulation and Policies

• BOMA Edmonton and BOMA Calgary are providing feedback on behalf of the industry on the Government of Alberta’s consultation process for The Community Organization Property Tax Exemption Regulation (COPTER) . Read our position. ?
• Edmonton’s tax forgiveness program addresses the issue of derelict properties, aiming to encourage rehabilitation and development.? Read more in Edmonton refunds some taxes if derelict properties are fixed faster which explores the potential outcomes of this approach.?
• A promised carbon rebate will be delivered to small and mid-sized Canadian businesses before year-end, provided they filed their 2023 tax return by July 15, 2024. About 600,000 enterprises with fewer than 500 employees qualify for a rebate on the federal fuel charge collected between the 2019-20 and 2023-24 fiscal years.?

Building Performance (Sustainable, Smart, Healthy)

• As data centre usage continues to rise, concerns about water consumption are becoming increasingly prominent. Water consumption concerns as data centre use increases? examines the implications of this trend and the need for sustainable practices in the industry.?
• Edmonton's Clean Energy Improvement Program aims to facilitate green upgrades for property owners, promoting sustainable practices in the community.?
• The latest updates to GRESB's 2024 Real Estate Standards include the introduction of a ‘time factor’ which will affect the scoring metrics for BOMA BEST Certified buildings.?
• An iconic piece of Toronto's skyline recently received BOMA Best platinum status, propelling the program past 1 billion square feet of certified space.??
• The Government of Canada is allocating $200 million towards the Deep Retrofit Accelerator Initiative (DRAI) to help offset planning expenses and other preparatory costs for deep retrofit projects. Organizations such as Alberta EcoTrust and BOMA Canada are among those receiving funding to support building owners in exploring these opportunities. Discover more about BOMA Enspire .?

Diversified and Educated Talent

• The real estate industry is enormous. In the United States alone, over 2.9 million jobs are tied to commercial real estate , 17% of GDP comes from the real estate industry, and the aggregate value of U.S. commercial real estate is approximately $20.7 trillion. Yet, in spite of its impact and size, there is still a lot of confusion around what it means to work in real estate. Here is a deep dive in choosing the right career path in CRE. ???
• The University of Alberta launched a new research centre aimed at providing insights on the labour market for employers, policymakers, business owners, jobseekers, and labour organizers. The Alberta Centre for Labour Market Research has researchers from the U of A and four other post-secondary institutions from outside the region.?

Featured Education Session: Office 2025 & Beyond – What is the Workplace For, Anyway??

October 30, 2024, 9:00 AM to 11:00 AM | EPCOR Tower (Mackenzie Room)

The office has long been more than just a place for work. It’s where people gather, collaborate, and build organizational culture. It has served as a hub for sparking creativity, fostering innovation, and cultivating professional relationships and community. It’s also a place for learning, growth, and the transfer of knowledge. However, the workplace is evolving rapidly, and the past few years have seen an exponential acceleration in these changes.This seminar will delve into critical issues including the Impact of Remote and Hybrid Work, Influence of AI on the Workplace, and Mental Health & Well-being in the Workplace to better understand the evolving role of the workplace as we look ahead to 2025 and beyond.

Bricks, Mortar, & Growth: Insights from the Mayor’s Office?

November 8, 2024, 11:30 AM to 1:30 PM | The Westin Hotel

Join us for this highly anticipated event that starts with BOMA Edmonton's Annual General Meeting, where you’ll hear important updates from the past year and gain insights into BOMA Edmonton’s latest initiatives.

Following the AGM, BOMA Edmonton will welcome Mayor Sohi to the stage to share his thoughts on a hot topic: growth. We’ll explore Edmonton’s growth through the lens of existing commercial buildings. We’ll get into all kinds of questions, such as: What does growth mean for non-residential property taxes? What do we do about vacant space in Edmonton, especially office vacancy downtown? What infrastructure upgrades are needed to support growth, including densification? How do we increase the number of businesses in Edmonton? And much more.

This is the first of BOMA Edmonton’s new?Bricks and Mortar series where we talk about city building and, not just the fantastic buildings that make up our city, but the incredible people in them and who own, manage, and operate them.

BOMA Edmonton members are welcome to submit their questions by emailing [email protected] .

Our job board features positions available from BOMA Edmonton members. If you are looking for a new opportunity, check out the exciting openings.

RECENTLY POSTED

• Director, Facility Planning and Design, City of Edmonton
• Partner, Marketing Technology, Rohit Group
• Manager, Facility Services, City of Leduc
• Project Manager, Colliers

BOMA BEST is a series of programs that are both certifications and building management tools. They encourage smart and sustainable solutions for existing buildings, promoting health, efficiency, cost-effectiveness, and low-carbon performance. Its certification represents a globally recognized symbol of sustainability achievement and is driving change.

• Peace Hills Trust Tower , managed by Morguard , has achieved BOMA BEST Platinum certification! This prestigious certification highlights the outstanding efforts made by Morguard in driving sustainability, energy efficiency, and overall environmental excellence. BOMA BEST Platinum sets the bar high for sustainable building management, showcasing a commitment to creating greener, healthier, and more efficient spaces for tenants and the community alike.?

Is your building ready to join the leaders in sustainability? Discover how BOMA BEST certification can elevate your property’s environmental performance.?

?Visit BOMA BEST to get started: https://bomabest.org/ ?

STRAEGIC SPONSORS

PLATINUM SPONSORS