You can always go downtown. At least that's what the song says.

Much has been written about the current woes of Calgary's Downtown Commercial Core. Office vacancies are approaching 30 per cent and many businesses and commuters are conspicuous in their absence from the area.

However, there are a significant number of Calgarians who have no intention of going anywhere, even after the workaday crowd goes home.

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.

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.

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:

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:

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.

Mary Moran has taken over the reins as president and chief executive of Calgary Economic Development (CED).

Moran, who has been with CED since 2010, took some time to chat with CREBNow about Calgary's economic resiliency and what she thinks is the city's best-kept secret.