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Stories Tagged - Calgary Economic Development

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Dec. 16, 2020 | Barb Livingstone

With little relief on the horizon, Calgary's downtown office market is expected to struggle well into 2021

Calgary's downtown office vacancy rate is going nowhere but up.

By the end of this year, that rate is projected to jump to 29.5 per cent, and it will climb even higher moving into 2021, says Greg Kwong, regional managing director with commercial real estate company CBRE.

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Oct. 05, 2020 | Tyler Difley

Four times Calgary has appeared in video games (and one honourable mention)

According to Calgary Economic Development, Calgary has the potential to become an industry leader in the burgeoning Canadian video game and "immersive media" sectors.

I guess it's fitting, then, that Calgary has actually appeared in a handful of video games over the years, whether by design or thanks to the efforts of a few creative players.
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Oct. 05, 2020 | CREBNow

Four times Calgary has appeared in video games (and one honourable mention)

According to Calgary Economic Development, Calgary has the potential to become an industry leader in the burgeoning Canadian video game and "immersive media" sectors.

I guess it's fitting, then, that Calgary has actually appeared in a handful of video games over the years, whether by design or thanks to the efforts of a few creative players.
Cody Stuart / CREB®Now

April 24, 2019 | Mario Toneguzzi

Signs of stabilization offer glimmer of hope for struggling downtown office market

The vibrancy of Calgary's downtown office market is a good indicator of the health of the city's economy, and since the oil price collapse that started in the latter half of 2014, they've both been struggling.

New World North Ltd. will inhabit the top floor of a building currently under construction in Inglewood, with 15 initial employees from around the world relocating to Calgary.
Courtesy New World Interactive

March 06, 2019 | Barb Livingstone

Video game developer's new Inglewood studio represents a vote of confidence in Calgary

American businessman Keith Warner may have just become Calgary's – and, specifically, Inglewood's – biggest cheerleader, as his multi-million-dollar video game development company will open a studio in the community in May.

Calgary Economic Development’s media campaign included chalk art around Amazon’s current Seattle HQ.
Courtesy Calgary Economic Development

Dec. 06, 2017 | Barb Livingstone

The Amazon effect

New HQ or not, e-commerce giant's impact is already being felt

Let's call it the "Amazon effect": the cascading economic stimulation that comes from one of the world's largest corporations taking up residence in your market.

It is an effect already being felt in the Calgary region after the announcement that the e-commerce giant will be opening a 600,000-square-foot distribution centre in Balzac – employing 750 full-time workers, and an additional 450 part-time or seasonally, by the end of 2018.

Nov. 19, 2016 | Alex Frazer Harrison

Foreign buyers roundtable

With discussions continuing to swirl around Calgary being an attractive location for foreign homebuyers, CREB®Now contributor Alex Frazer-Harrison sat down with three local experts to get their opinions on what the future holds for the city's housing market.

Here's what they had to say:

Nov. 19, 2016 | CREBNow

Foreign buyers roundtable

With discussions continuing to swirl around Calgary being an attractive location for foreign homebuyers, CREB®Now contributor Alex Frazer-Harrison sat down with three local experts to get their opinions on what the future holds for the city's housing market.

Here's what they had to say:

Calgary International Airport is the third busiest airport in Canada handling 
more than 1.5 million passengers a year. Photo by Adrian Shellard/For CREB®Now

July 18, 2016 | Joel Schlesinger

Ready to take flight

YYC's expansion could help city's real estate market soar

Foreign investment in the city's real estate market is poised to take flight.

And it's in no small part thanks to the ambitious expansion of the Calgary International Airport. From the recent opening of its new runway—the longest commercial airstrip in Canada—to its $1.4-billion new international terminal opening this fall, Calgary's bigger, better international airport dramatically increases the number of travellers from overseas.

While it's undoubtedly a shot in the arm to the city's struggling economy, it's not a leap in logic to assume more foreign business and pleasure travellers could provide a boost to its real estate sector, says Eric Horvath, vice president of investment sales at Colliers International.

From left, Calgary Film Centre general manager Erin O'Connor and Paul Bronfman, CEO of William F. White International, which is the country’s largest TV and film industry equipment provider and the centre's main tenant. Photo by Wil Andruschak/for CREB®Now

May 26, 2016 | Barb Livingstone

Driving diversity

Film centre represents just one example of efforts to transform local economy, say officials

Film production may be the world's glamour industry, but in Calgary it is shooting to become a new driver of Alberta's diversified economy.

Last week, the $28.2-million Calgary Film Centre opened in a Calgary southeast industrial park, about 20 minutes from downtown. The new facility includes three new sound stages spread across a total of 50,000 square feet and three multi-purpose workshop spaces offering an additional 15,000 square feet.

Calgary Economic Development president and CEO Mary Moran said the film and television industry is just one sector being focused on in attempt to diversify the local economy. CED predicts it could provide an annual $500-million injection into the economy in as little as five years, compared to its $175-million share today.

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