This Week in Calgary CRE

Panattoni's recent acquisition of the 100-acre Twin Willows Business Park site in northwest Edmonton may appear to be a routine land transaction. However, when viewed alongside the company's broader Alberta portfolio, it provides insight into how large industrial developers view the province's long-term growth prospects. The Twin Willows site has the potential to accommodate up to 2 million square feet of future industrial development and represents Panattoni's latest inves

A new $214 million computing infrastructure project near Fox Creek has been added to Alberta's Major Projects database, highlighting the growing role of digital infrastructure within the province's investment landscape. The project follows Bitdeer Technologies Group's acquisition of a 101 MW site and gas-fired power project from Kiwetinohk Energy Corp. for $21.7 million. The transaction marks Bitdeer's first investment in Canada and demonstrates how Alberta's energy resources

For much of the past several years, Alberta has carried an unemployment rate above the national average despite leading the country in population growth and economic expansion. That gap is beginning to close. Statistics Canada's May labour force data show Alberta's unemployment rate declined to 6.6%, matching the national rate and improving from 7.4% one year ago. The province added approximately 14,000 jobs during the month, continuing a trend of strengthening labour market

Major homebuilders continue to position themselves for Calgary's long-term expansion. Mattamy Homes has announced plans for a new master-planned community in southeast Calgary, representing another significant investment in the city's growth. The project represents a long-term investment in Calgary's future growth, with development expected to progress in phases over the next decade. These projects are about more than new homes. They reflect continued confidence in Calgary's

A proposed downtown office conversion is reportedly pursuing a partnership with Waldorf Astoria as part of a vision to transform underutilized office space into a luxury hotel and residential destination. While the Waldorf Astoria affiliation remains unconfirmed, the broader trend is already underway. The announcement of a JW Marriott, W Hotel, and a second Calgary Fairmont signals growing confidence from global hospitality brands in Calgary's long-term growth story. These in

Concert Properties and Brookfield have announced a joint venture involving an eight-property Canadian industrial portfolio totaling approximately 5.3 million square feet and valued at roughly $1 billion. The portfolio includes assets in major markets such as Calgary, Vancouver, Toronto and Ottawa. The transaction is another signal that large institutional investors continue to view well-located industrial real estate as a long-term investment priority. Fully leased assets wit

Construction is now underway on the Everwild Harmony Nordic Spa & Hotel, a major wellness and hospitality development located in the community of Harmony, west of Calgary. The project will bring a year-round wellness destination to the region, featuring thermal pools, saunas, accommodations, dining amenities, and lakefront experiences designed to attract both local visitors and tourism traffic. Beyond the wellness component, developments like this highlight how experiential d

The April CFIB Business Barometer highlights a sharp escalation in cost-related concerns, with fuel and transportation pressures rising rapidly over a short period. Concern over fuel costs rose to 74%, up from 36% in February. Shipping and receiving costs increased to 45%, up from 26% over the same period. The pace of change underscores how quickly operating conditions are tightening for small businesses. These trends point to renewed margin pressure across multiple sectors,

Armco Capital is moving forward with the acquisition of Stephen Avenue Place and two neighbouring retail assets in downtown Calgary, continuing its expansion in the core. The 40-storey Stephen Avenue Place office tower and two adjacent retail buildings are currently under receivership. Since late 2023, subsidiaries associated with G2S2 Capital have assembled close to 3 million square feet of office space, with this acquisition expected to bring the total to approximately 3.6

Major grocery chains are seeing flat sales growth, while regional and specialty grocers continue to expand. At the same time, brands like T&T Supermarket, already active in Alberta, highlight how culturally focused and specialty formats are gaining traction across Western Canada. Consumers are becoming more price-sensitive and selective Growing demand for ethnic, fresh, and specialty grocery options Independent and regional grocers expanding into neighbourhood-scale retail