Alberta has been adapting to a post-energy reality for several years. We are joined by a returning guest, Wendy Waters, senior director of Research Services & Strategy team at GWL Realty Advisors, to talk about the status of the two primary cities in the province of Alberta and how they’re coping. To know more about Wendy, and what she does, check out her first episode here.
Downtown Calgary has been greatly affected by this downturn — the streets are not as energetic as they used to be, and as Wendy describes it, “it feels different.” Currently there’s a 27.4% office vacancy rate, but despite this Wendy is positive that Calgary will be able to rebound.
Edmonton, on the other hand, has a more varied industry and employment base that has added strength to this market. We discuss the muted impact on the Edmonton market in detail.
Topics covered include
- Alberta Markets: Calgary and Edmonton.
- The Occupancy/Vacancy levels in different asset classes.
- How the new generation affects the legacy products in real estate.
- Availability of labour.
- New opportunities in Alberta.
- More information about the energy sector and the pipeline problems.
A bit about our guest….
Wendy Waters is a multidisciplinary researcher, writer and real estate investment strategist. Her unique background allows her to blend research methodologies from economics, demography, anthropology, history, finance and marketing into strategic analysis to support superior real estate decision making. Top-down, bottom-up, macro and micro perspectives further round out the approach that distinguishes her work within the industry. She currently leads the Research Services & Strategy team at GWL Realty Advisors.
GWL Realty Advisors is one of Canada’s leading real estate investment advisors, providing comprehensive asset management, property management, and specialized real estate services to pension funds and institutional clients.
Links:
Wendy Waters on LinkedIn
Previous Wendy Waters episode on apartments
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