Plans have finally been announced to redevelop Eau Claire Market.

Regina-based company Harvard Developments Inc. has been working with the City of Calgary and other community groups to create a final design for a mixed-use project totalling 2.5 million sq. ft..

"Redevelopment of the market and the property was always the objective from the time Harvard Developments Inc. and its partners made the purchase of Eau Claire in 2005. Our company is 113 years old and we believe in investing in communities and owning and maintaining those assets for the long term.

With more than 200 transactions over the million-dollar price point in the first six months of 2013, Calgary's commercial market continues to be the subject of "cautious optimism".

Highlighting trends and developments in 11 major centres across Canada, the 2013 RE/MAX Commercial Investor Report found commercial inventory remained scarce during the first half of the year, particularly in the multi-unit residential, industrial, and retail sectors.

Calgary's downtown office market is getting a little roomier.

According to a report from Colliers International, Calgary's downtown office market saw negative absorption in the third quarter of 2013, with the vacancy rate increasing from 5.03 per cent in the second quarter to 5.67 per cent.