The latest issue of BOMA Edmonton Industry Insights & News: September 13, 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.

• Edmonton City Council decided against a potential change to the publication timelines for agendas and reports. BOMA Edmonton and various industry partners were against reducing the publication from the Thursday before a meeting to 10 days prior, citing consultation concerns over timely access to materials to respond and provide input.? ?
• The federal government has allocated $23.7 million to the City of Edmonton's Blatchford redevelopment project to fund the district energy sharing system, which aims to reduce greenhouse gas emissions by centralizing energy production. ?
• Qualico has acquired 340 acres in northeast Edmonton, known as Duggan Ranch, for residential and commercial development. The developer intends to build more than 1,700 single-family homes, 24 acres of commercial space, and multifamily homes.

Safe Communities and Vibrant Economies

• Alberta forecasts paper surplus of $2.9B amid high oil prices, population growth, and borrowing. The surplus is built on higher than anticipated oil prices, steady spending, and increased tax revenue from Alberta's growing population. ?
• Thieves have stolen cables from 12 electric vehicle charging stations in St. Albert, leaving just six of the city's 26 stations operational. Police are investigating the thefts, which are part of a broader trend of copper wire thefts across North America. The City of St. Albert says it will cost thousands of dollars to repair the stations and is discussing protective measures with ATCO. ?
• The Hi Signs' team recently explored its Parks & Trails Wayfinding project in the River Valley, which aims to enhance navigation and accessibility within Edmonton's parks and trails. ?
• Listen to this podcast about a coalition of mayors across Ontario are?pleading for help?in what they call a “humanitarian crisis” on their streets. They say the issues of homelessness, drug addiction and mental health are beyond their capacity to handle, and they need a more sustained and well-funded support from higher levels of government. ?
• 10,000 Alberta Health Service employees became employees of the newly formed Recovery Alberta on labour day. Find out what this means for mental health and addictions supports in Alberta.

Fair and Equitable Taxation, Regulation and Policies

• Learn about the Downtown Calgary Demolition Incentive Program, which gives funding to support the removal of underused office buildings that aren’t suitable for conversion projects. “This incentive will enable $100 million in private investment to flow into our downtown through this project, clearly demonstrating that the Downtown Revitalization Strategy is working,” Calgary Mayor Jyoti Gondek said. ?
• Edmonton-based Cantiro Group’s application to demolish three buildings in Calgary along the south side of 4 Avenue S.W. between 5 and 6 Street has been approved. Under the Downtown Calgary Demolition Incentive Program. The redevelopment project will be Cantiro’s second project in Calgary and includes a 33-storey mixed-use tower consisting of approximately 340 purpose-built rental housing units including at least 50 affordable units as well as a two-storey retail podium designed to support a variety of commercial uses. ?
• Edmonton city council has voted against a $250,000 grant program for businesses struggling with the impact of Valley Line West LRT construction on Stony Plain Road. The motion, which aimed to provide small payments to affected businesses, was rejected in an 8-5 vote due to concerns about its limited impact and the city's ongoing budget challenges.

?Building Performance (Sustainable, Smart, Healthy)?

• The Proptech Showcase is returning to Calgary on Oct. 28, inviting proptech startups to pitch their real estate tech solutions at the Platform Innovation Centre. The event aims to connect innovative startups with investors and companies in the real estate industry, focusing on technology for commercial, residential, and industrial applications. Alberta-based proptech companies have until Aug. 18 to apply for the chance to present their ideas. ?
• The new Canada Green Buildings Strategy aims to decabonize and improve the resiliency of Canada's building stock. The strategy is accompanied by several incentive programs, including the CIB's Building Retrofits Initiative, the Deep Retrofit Accelerator Initiative, and the ENERGY STAR Portfolio Manager Platform. ?
• Applications for SSRIA's Innovation Fund are open until Sept. 15 for invited applicants. The fund provides up to $300,000 for "specific, incremental elements of approved building projects that demonstrate innovative designs, technologies, products, or services that support the reduction of greenhouse gas (GHG) emissions in building construction and operation."

?Diversified and Educated Talent?

• Stantec has launched its fifth annual Equity & Diversity Scholarship, with $200,000 to be awarded for the 2025-2026 academic year. Since the scholarship's creation, Stantec has awarded 160 scholarships, 30 internships, and C$800,000 in financial support.

Featured Event: Luncheon - Let’s Talk Taxes 2025!

September 17, 2024, 11:30 AM to 1:30 PM | Chateau Lacombe Hotel

In April 2024, City Council approved an 8.9 percent increase in municipal taxes, the highest increase in more than a decade, and everyone – businesses, owners, City Councillors, and Administration alike, seemed disappointed. Nonetheless, headlines in August 2024 indicate that we could see an 8.8 to 13 per cent increase in 2025 as the city faces a current $88 million shortfall.

So, what’s going on and can we do? Budget cuts, getting back to core services, leveraging dollars from other governments, and other revenue streams are being discussed as strategies to mitigate another tax increase.

BOMA Edmonton and NAIOP Edmonton are pleased to present a session for building owners and others interested in digging deeper into taxation and assessment in Edmonton in 2025. First, an animated group of panelists will delve into what’s working, what isn’t working, and how to move forward. Second, all luncheon attendees are invited to have their say on what they think the City should cut and prioritize in the upcoming budget.

You’ll leave better informed and with a sense of what’s being done and can be done to improve balance, fairness, and transparency when it comes to our tax bills as building owners and tenants. You’ll also help shape our feedback to the City in this upcoming budget cycle.

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

• Community Relations and Events Advisor, EIA
• Communications Specialist, PCL Construction
• Marketing Advisor, Alberta Municipalities
• Real Estate Project Manager, Stantec

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.

Congratulations on these recent certification earners.

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