Brookfield Office Properties Inc. has announced Cenovus Energy Inc. will be the anchor tenant for their new 56-storey, 247-metro tower in downtown Calgary.

Expected to create 1,300 construction jobs and 7.5 million construction man-hours in Calgary, the entire project calls for an additional office tower totaling approximately one million square feet, a 60-foot-high transparent glass pavilion, restaurants, retail shops and amenities at street level, and underground parking accommodating 1,100 parking stalls.

Calgary's housing vacancy rate is a priority Mayor Naheed Nenshi told reporters at the July 25 release of the Civic Census.

"We really need to prioritize (the vacancy rate)," Nenshi said. "We have needed for some time to prioritize housing that matches the needs of the market and we need to continue to do that."

With flooding putting pressure on an already tight rental market, the head of one Calgary housing agency said demand has grown exponentially.

David Watson, director of Attainable Homes Calgary Corporation (AHCC) – the non-profit organization that works to deliver entry-level homes for Calgarians – said over the last year, interest has increased substantially.

With the release of CREB®'s monthly stats, Calgary's residential sales totaled 2,268 units in July, a 17 per cent increase over last year and a six per cent increase year-to-date.

CREB®'s Chief Economist Ann-Marie Lurie said recent flooding likely contributed to sales activity.

Albertans affected by the recent floods in the province now have a better idea about funding they'll receive from the government.

As outlined in a release from the Redford government, Albertans living in flood-fringe areas will receive an average of $10,000 to renovate or rebuild their flood-damaged homes.

Two Calgary initiatives were recognized at the July 29 council meeting after earning recognition both nationally and internationally.

Firstly Mayor Naheed Nenshi recognized the Bow to Bluff Initiative, which earned a reward for New and Emerging Planning from the Canadian Institute of Planners. Bow to Bluff is a citizen-led initiative to create great public places in the city starting with the public corridor along the Sunnyside LRT line between the Bow River and McHugh Bluff.