BOMA Calgary News 1

CALGARY NEWS SUMMER 2013

Sandy McNair

Page 1 - Too Much, Too Little or Just Right? | Page 3 - Is it Time to Think Differently About Education? | Page 5 - Inside the Industry

Page 6 - BOMA Insider | Page 9 - Retail Frenzy Still Hot in Calgary

Too Much, Too Little or Just Right?

Calgary’s office market is at a pivot point

OFFICE SPACE CURRENTLY UNDER CONSTRUCTION

Vancouver Edmonton Calgary Toronto Montreal Total Currently Under Construction (sq. ft.)

3,567,380 175,136 3,944,328 6,636,694 2,631,193

% of Existing Inventory

6.9% 0.8% 6.3% 3.9% 3.0%

Oxford’s recently announced Eau Claire Tower adds 588,324 square feet to the 3,356,004 million square

feet of office space already under construction across Calgary. Other developers, including Brookfield, Aspen, Remington and OPUS, are actively pre-leasing additional projects that in actively pre-leasing additional projects that in actively pre-leasing additional projects that in theory could add as much as 8.1 million square theory could add as much as 8.1 million square theory could add as much as 8.1 million square feet in 47 additional new office towers located feet in 47 additional new office towers located feet in 47 additional new office towers located across Calgary.across Calgary.across Calgary.Not including any of the towers currently unNot including any of the towers currently unNot including any of the towers currently unNot including any of the towers currently unNot including any of the towers currently un-der construction, 30.6% of Calgary’s existing der construction, 30.6% of Calgary’s existing der construction, 30.6% of Calgary’s existing der construction, 30.6% of Calgary’s existing der construction, 30.6% of Calgary’s existing inventory has been built since 2000. Calgary’s inventory has been built since 2000. Calgary’s inventory has been built since 2000. Calgary’s inventory has been built since 2000. Calgary’s inventory has been built since 2000. Calgary’s office inventory has grown much faster than office inventory has grown much faster than office inventory has grown much faster than office inventory has grown much faster than office inventory has grown much faster than Vancouver, Edmonton, Toronto, or Montreal at Vancouver, Edmonton, Toronto, or Montreal at Vancouver, Edmonton, Toronto, or Montreal at Vancouver, Edmonton, Toronto, or Montreal at Vancouver, Edmonton, Toronto, or Montreal at 21.0%, 11.3%, 15.4% and 10.3% respectively.21.0%, 11.3%, 15.4% and 10.3% respectively.21.0%, 11.3%, 15.4% and 10.3% respectively.21.0%, 11.3%, 15.4% and 10.3% respectively.21.0%, 11.3%, 15.4% and 10.3% respectively.21.0%, 11.3%, 15.4% and 10.3% respectively.21.0%, 11.3%, 15.4% and 10.3% respectively.

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BOMA Calgary News 2

BOMA Calgary NewsBOMA Calgary News is a co-publication of BOMA Calgary and Business in Calgary.

Business in Calgary 1025, 101 - 6 Ave. SW, Calgary, AB T2P 3P4Tel: 403.264.3270 • Fax: 403.264.3276Email: info@businessincalgary.comWeb: www.businessincalgary.com

BOMA Calgary120, 4954 Richard Road SW, Calgary, AB T3E 6L1Email: info@boma.ca • Web: www.boma.caTel: 403.237.0559 • Fax: 403.266.5876

COMMUNICATIONS COMMITEE Rita Reid, Chair, CominarJamie Zachary, Calgary HeraldSiobhan Koroll, Calgary HeraldJay de Nance, Fairfield Commercial Real EstateRoger Hanks, Skyline Roofing Giovanni Worsley, MNP LLPKim Bogner, 20 Vic ManagementLeah Stewart, Sizeland Evans Interior Design Bobbi Joan O’Neil, Business in CalgaryLia Robinson, BOMA Calgary

Board of DirectorsCHAIRChris Howard, Avison Young Real Estate CHAIR-ELECTKen Dixon, ATCO GroupSECRETARY TREASURERChris Nasim, GWL Realty AdvisorsPAST CHAIR Don Fairgrieve-Park, Bentall Kennedy (Canada) LPPRESIDENT & CSOWilliam G. R. Partridge, CAE, BOMA Calgary

DirectorsFred Edwards, Servpro CleaningSteve Weston, Brookfield PropertiesMarjorie Cone, H & R Property Management Ltd.Robert Brazzell, Altus GroupCorrine Jackman, Hopewell Real Estate ServicesCam Gresko, Cadillac FairviewDustin Engel, Alberta InfrastructureRichard Morden, Bentall Kennedy (Canada) LPLee Thiessen, MNP LLPLoy Sullivan, 20 VIC Management

The Building Owners and Managers Association of Calgary publishes BOMA Calgary News quarterly. For advertising rates and information contact Business in Calgary. Publication of advertising should not be deemed as endorse-ment by BOMA Calgary. The publisher reserves the right in its sole and absolute discretion to reject any advertising at any time submitted by any party. Material contained herein does not necessarily reflect the opinion of BOMA Calgary, its members or its staff.

© 2013 by BOMA Calgary.Printed in Canada.

1

New office towers are being added to Calgary and elsewhere for one (and possibly more than one) of three major reasons:a) Incremental Demand – new and current occupants are growing and committing to

additional space;b) Pressure to Place Capital – among investors, commercial real estate is in favour

and new development has become a desired alternative offering superior returns to acquiring existing buildings; and

c) Obsolescence – in the Battle for Talent, new buildings with better design and perfor-mance characteristics are seen by some employers as distinctly different and more desirable than older buildings.

If no incremental leasing were to occur and no additional buildings are started the availability rate will climb to 8.2%, 10.2%, 11.1%, 11.7% and 11.7% at end of each of 2013, 2014, 2015, 2016 and 2017. Each of these future availability rates are 100 basis points (1%) higher than they were 3 months ago based upon the situation at that time. This is not a forecast, but merely a reference point from which alternative demand and supply scenarios can be rationally explored.Fortunately inventory, new supply, current availability and future availability is being carefully monitored and shared with many of the industry’s leaders. Will the energy sector continue to have access and appeal to equity capital? Will the outlook for ac-cess to global markets by pipe and rail improve? Will the gap between global pricing and Alberta bitumen continue to narrow? Will Calgary’s energy talent and technology remain competitive on the global stage?The Calgary office market is at a pivot point because the answers to these and other questions are no longer a clear ‘yes’ which means developers, occupants, lenders and others all need to have their eyes wide open as the next wave of decisions relating to office space supply, demand and pricing are made.

Sandy McNair is the President of Altus InSite. The Altus InSite team leverage extensive industry wide experience and market information to provide perspective to clients in Canada’s Com-mercial Real Estate Investment, Development and Leasing communities. www.altusinsite.com

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BOMA Calgary News 3 2

Is it Time to Think Differently About Education?*

President’s Report

BOMA Calgary News 3

WE HAVE A STRONG NATIONAL PRESENCE TO HELP SERVE THE

DIVERSE NEEDS OF OUR TENANTS

Fully integratedtenant solutions

www.dundeerealty.com403.212.7114

To view our portfolio of properties, visit:

Or contact us at:

Northwest Territories British Columbia Alberta Saskatchewan

Ontario Quebéc New Brunswick Prince Edward Island Nova Scotia

BOMA Calgary News 2

BOMA Calgary NewsBOMA Calgary News is a co-publication of BOMA Calgary and Business in Calgary.

Business in Calgary 1025, 101 - 6 Ave. SW, Calgary, AB T2P 3P4Tel: 403.264.3270 • Fax: 403.264.3276Email: info@businessincalgary.comWeb: www.businessincalgary.com

BOMA Calgary120, 4954 Richard Road SW, Calgary, AB T3E 6L1Email: info@boma.ca • Web: www.boma.caTel: 403.237.0559 • Fax: 403.266.5876

COMMUNICATIONS COMMITEE Rita Reid, Chair, CominarJamie Zachary, Calgary HeraldSiobhan Koroll, Calgary HeraldJay de Nance, Fairfield Commercial Real EstateRoger Hanks, Skyline Roofing Giovanni Worsley, MNP LLPKim Bogner, 20 Vic ManagementLeah Stewart, Sizeland Evans Interior Design Bobbi Joan O’Neil, Business in CalgaryLia Robinson, BOMA Calgary

Board of DirectorsCHAIRChris Howard, Avison Young Real Estate CHAIR-ELECTKen Dixon, ATCO GroupSECRETARY TREASURERChris Nasim, GWL Realty AdvisorsPAST CHAIR Don Fairgrieve-Park, Bentall Kennedy (Canada) LPPRESIDENT & CSOWilliam G. R. Partridge, CAE, BOMA Calgary

DirectorsFred Edwards, Servpro CleaningSteve Weston, Brookfield PropertiesMarjorie Cone, H & R Property Management Ltd.Robert Brazzell, Altus GroupCorrine Jackman, Hopewell Real Estate ServicesCam Gresko, Cadillac FairviewDustin Engel, Alberta InfrastructureRichard Morden, Bentall Kennedy (Canada) LPLee Thiessen, MNP LLPLoy Sullivan, 20 VIC Management

The Building Owners and Managers Association of Calgary publishes BOMA Calgary News quarterly. For advertising rates and information contact Business in Calgary. Publication of advertising should not be deemed as endorse-ment by BOMA Calgary. The publisher reserves the right in its sole and absolute discretion to reject any advertising at any time submitted by any party. Material contained herein does not necessarily reflect the opinion of BOMA Calgary, its members or its staff.

© 2013 by BOMA Calgary.Printed in Canada.

1

New office towers are being added to Calgary and elsewhere for one (and possibly more than one) of three major reasons:a) Incremental Demand – new and current occupants are growing and committing to

additional space;b) Pressure to Place Capital – among investors, commercial real estate is in favour

and new development has become a desired alternative offering superior returns to acquiring existing buildings; and

c) Obsolescence – in the Battle for Talent, new buildings with better design and perfor-mance characteristics are seen by some employers as distinctly different and more desirable than older buildings.

If no incremental leasing were to occur and no additional buildings are started the availability rate will climb to 8.2%, 10.2%, 11.1%, 11.7% and 11.7% at end of each of 2013, 2014, 2015, 2016 and 2017. Each of these future availability rates are 100 basis points (1%) higher than they were 3 months ago based upon the situation at that time. This is not a forecast, but merely a reference point from which alternative demand and supply scenarios can be rationally explored.Fortunately inventory, new supply, current availability and future availability is being carefully monitored and shared with many of the industry’s leaders. Will the energy sector continue to have access and appeal to equity capital? Will the outlook for ac-cess to global markets by pipe and rail improve? Will the gap between global pricing and Alberta bitumen continue to narrow? Will Calgary’s energy talent and technology remain competitive on the global stage?The Calgary office market is at a pivot point because the answers to these and other questions are no longer a clear ‘yes’ which means developers, occupants, lenders and others all need to have their eyes wide open as the next wave of decisions relating to office space supply, demand and pricing are made.

Sandy McNair is the President of Altus InSite. The Altus InSite team leverage extensive industry wide experience and market information to provide perspective to clients in Canada’s Com-mercial Real Estate Investment, Development and Leasing communities. www.altusinsite.com

Superior cleaning service. Making homes and offices sparkle, since 1964

403.520.7777 | | servprocanada.com

Gesundheit.

Servpro protecting you from o�ce cooties.

BOMA Calgary News 3 2

There is no question that a good education is vital to the success of any society. We all support it philosophically and financially through our tax structure. Education is a

defining principle, or value, of our sophisticated Canadian culture.

But is our education system failing us? Why pose this But is our education system failing us? Why pose this But is our education system failing us? Why pose this question? Why is a commercial real estate guy even talkquestion? Why is a commercial real estate guy even talkquestion? Why is a commercial real estate guy even talkquestion? Why is a commercial real estate guy even talk--ing about education? The answer is simple: I think we are ing about education? The answer is simple: I think we are ing about education? The answer is simple: I think we are ing about education? The answer is simple: I think we are ing about education? The answer is simple: I think we are slowly yet steadily falling behind. In certain circumstances, slowly yet steadily falling behind. In certain circumstances, slowly yet steadily falling behind. In certain circumstances, slowly yet steadily falling behind. In certain circumstances, slowly yet steadily falling behind. In certain circumstances, our industry is having difficulty attracting good people with our industry is having difficulty attracting good people with our industry is having difficulty attracting good people with our industry is having difficulty attracting good people with our industry is having difficulty attracting good people with the right competencies to perform various roles. Accordingly, the right competencies to perform various roles. Accordingly, the right competencies to perform various roles. Accordingly, the right competencies to perform various roles. Accordingly, the right competencies to perform various roles. Accordingly, the right competencies to perform various roles. Accordingly, the right competencies to perform various roles. Accordingly, it is worth questioning how we do things. This does not imply, it is worth questioning how we do things. This does not imply, it is worth questioning how we do things. This does not imply, it is worth questioning how we do things. This does not imply, it is worth questioning how we do things. This does not imply, it is worth questioning how we do things. This does not imply, it is worth questioning how we do things. This does not imply, nor should it, that there is something wrong. It is a matter of nor should it, that there is something wrong. It is a matter of nor should it, that there is something wrong. It is a matter of nor should it, that there is something wrong. It is a matter of nor should it, that there is something wrong. It is a matter of nor should it, that there is something wrong. It is a matter of nor should it, that there is something wrong. It is a matter of nor should it, that there is something wrong. It is a matter of responsible management to review things from time to time.responsible management to review things from time to time.responsible management to review things from time to time.responsible management to review things from time to time.responsible management to review things from time to time.responsible management to review things from time to time.responsible management to review things from time to time.responsible management to review things from time to time.responsible management to review things from time to time.

By way of BOMA Calgary’s direct experience, we recently By way of BOMA Calgary’s direct experience, we recently By way of BOMA Calgary’s direct experience, we recently By way of BOMA Calgary’s direct experience, we recently By way of BOMA Calgary’s direct experience, we recently By way of BOMA Calgary’s direct experience, we recently By way of BOMA Calgary’s direct experience, we recently By way of BOMA Calgary’s direct experience, we recently By way of BOMA Calgary’s direct experience, we recently By way of BOMA Calgary’s direct experience, we recently By way of BOMA Calgary’s direct experience, we recently had to fill a staff position for a staff member who is on mahad to fill a staff position for a staff member who is on mahad to fill a staff position for a staff member who is on mahad to fill a staff position for a staff member who is on mahad to fill a staff position for a staff member who is on mahad to fill a staff position for a staff member who is on mahad to fill a staff position for a staff member who is on mahad to fill a staff position for a staff member who is on mahad to fill a staff position for a staff member who is on mahad to fill a staff position for a staff member who is on mahad to fill a staff position for a staff member who is on mahad to fill a staff position for a staff member who is on mahad to fill a staff position for a staff member who is on ma-ternity leave. We happened along an organization called ternity leave. We happened along an organization called ternity leave. We happened along an organization called ternity leave. We happened along an organization called ternity leave. We happened along an organization called ternity leave. We happened along an organization called ternity leave. We happened along an organization called ternity leave. We happened along an organization called ternity leave. We happened along an organization called ternity leave. We happened along an organization called ternity leave. We happened along an organization called ternity leave. We happened along an organization called ternity leave. We happened along an organization called AIESEC, a student-run international organization seeking to AIESEC, a student-run international organization seeking to AIESEC, a student-run international organization seeking to AIESEC, a student-run international organization seeking to AIESEC, a student-run international organization seeking to AIESEC, a student-run international organization seeking to AIESEC, a student-run international organization seeking to AIESEC, a student-run international organization seeking to AIESEC, a student-run international organization seeking to AIESEC, a student-run international organization seeking to AIESEC, a student-run international organization seeking to AIESEC, a student-run international organization seeking to AIESEC, a student-run international organization seeking to AIESEC, a student-run international organization seeking to AIESEC, a student-run international organization seeking to AIESEC, a student-run international organization seeking to AIESEC, a student-run international organization seeking to provide students and recent graduates with workplace inprovide students and recent graduates with workplace inprovide students and recent graduates with workplace inprovide students and recent graduates with workplace inprovide students and recent graduates with workplace inprovide students and recent graduates with workplace inprovide students and recent graduates with workplace inprovide students and recent graduates with workplace inprovide students and recent graduates with workplace inprovide students and recent graduates with workplace inprovide students and recent graduates with workplace inprovide students and recent graduates with workplace inprovide students and recent graduates with workplace inprovide students and recent graduates with workplace inprovide students and recent graduates with workplace in-ternship opportunities to develop their leadership skills in an ternship opportunities to develop their leadership skills in an ternship opportunities to develop their leadership skills in an ternship opportunities to develop their leadership skills in an ternship opportunities to develop their leadership skills in an ternship opportunities to develop their leadership skills in an ternship opportunities to develop their leadership skills in an ternship opportunities to develop their leadership skills in an ternship opportunities to develop their leadership skills in an ternship opportunities to develop their leadership skills in an ternship opportunities to develop their leadership skills in an ternship opportunities to develop their leadership skills in an ternship opportunities to develop their leadership skills in an ternship opportunities to develop their leadership skills in an ternship opportunities to develop their leadership skills in an international context. international context. international context. international context.

Within a few days, we had 200 applications that were filWithin a few days, we had 200 applications that were filWithin a few days, we had 200 applications that were filWithin a few days, we had 200 applications that were filWithin a few days, we had 200 applications that were filWithin a few days, we had 200 applications that were filWithin a few days, we had 200 applications that were filWithin a few days, we had 200 applications that were filWithin a few days, we had 200 applications that were filWithin a few days, we had 200 applications that were filWithin a few days, we had 200 applications that were filWithin a few days, we had 200 applications that were filWithin a few days, we had 200 applications that were filWithin a few days, we had 200 applications that were fil-tered down to four. One took a position before we could tered down to four. One took a position before we could tered down to four. One took a position before we could tered down to four. One took a position before we could tered down to four. One took a position before we could tered down to four. One took a position before we could tered down to four. One took a position before we could tered down to four. One took a position before we could tered down to four. One took a position before we could tered down to four. One took a position before we could tered down to four. One took a position before we could tered down to four. One took a position before we could tered down to four. One took a position before we could tered down to four. One took a position before we could tered down to four. One took a position before we could interview them and we were left with three to interview: one interview them and we were left with three to interview: one interview them and we were left with three to interview: one interview them and we were left with three to interview: one interview them and we were left with three to interview: one interview them and we were left with three to interview: one interview them and we were left with three to interview: one interview them and we were left with three to interview: one interview them and we were left with three to interview: one interview them and we were left with three to interview: one interview them and we were left with three to interview: one interview them and we were left with three to interview: one interview them and we were left with three to interview: one interview them and we were left with three to interview: one interview them and we were left with three to interview: one from Belgium, one from Turkey and the third from the Czech from Belgium, one from Turkey and the third from the Czech from Belgium, one from Turkey and the third from the Czech from Belgium, one from Turkey and the third from the Czech from Belgium, one from Turkey and the third from the Czech from Belgium, one from Turkey and the third from the Czech from Belgium, one from Turkey and the third from the Czech from Belgium, one from Turkey and the third from the Czech from Belgium, one from Turkey and the third from the Czech from Belgium, one from Turkey and the third from the Czech from Belgium, one from Turkey and the third from the Czech from Belgium, one from Turkey and the third from the Czech from Belgium, one from Turkey and the third from the Czech from Belgium, one from Turkey and the third from the Czech from Belgium, one from Turkey and the third from the Czech Republic. The educational credentials were impressive, as Republic. The educational credentials were impressive, as Republic. The educational credentials were impressive, as Republic. The educational credentials were impressive, as Republic. The educational credentials were impressive, as Republic. The educational credentials were impressive, as Republic. The educational credentials were impressive, as Republic. The educational credentials were impressive, as Republic. The educational credentials were impressive, as Republic. The educational credentials were impressive, as Republic. The educational credentials were impressive, as Republic. The educational credentials were impressive, as Republic. The educational credentials were impressive, as Republic. The educational credentials were impressive, as Republic. The educational credentials were impressive, as were their work experience and interview skills. While English were their work experience and interview skills. While English were their work experience and interview skills. While English were their work experience and interview skills. While English were their work experience and interview skills. While English were their work experience and interview skills. While English were their work experience and interview skills. While English were their work experience and interview skills. While English were their work experience and interview skills. While English were their work experience and interview skills. While English were their work experience and interview skills. While English were their work experience and interview skills. While English were their work experience and interview skills. While English were their work experience and interview skills. While English were their work experience and interview skills. While English is not their first language all were multilingual and all were is not their first language all were multilingual and all were is not their first language all were multilingual and all were is not their first language all were multilingual and all were is not their first language all were multilingual and all were is not their first language all were multilingual and all were is not their first language all were multilingual and all were is not their first language all were multilingual and all were is not their first language all were multilingual and all were is not their first language all were multilingual and all were is not their first language all were multilingual and all were is not their first language all were multilingual and all were is not their first language all were multilingual and all were is not their first language all were multilingual and all were is not their first language all were multilingual and all were very articulate. From this talent pool we were able to find a very articulate. From this talent pool we were able to find a very articulate. From this talent pool we were able to find a very articulate. From this talent pool we were able to find a very articulate. From this talent pool we were able to find a very articulate. From this talent pool we were able to find a very articulate. From this talent pool we were able to find a very articulate. From this talent pool we were able to find a very articulate. From this talent pool we were able to find a very articulate. From this talent pool we were able to find a very articulate. From this talent pool we were able to find a very articulate. From this talent pool we were able to find a very articulate. From this talent pool we were able to find a very articulate. From this talent pool we were able to find a very articulate. From this talent pool we were able to find a suitable candidate. (We will be also hiring a Canadian stusuitable candidate. (We will be also hiring a Canadian stusuitable candidate. (We will be also hiring a Canadian stusuitable candidate. (We will be also hiring a Canadian stusuitable candidate. (We will be also hiring a Canadian stusuitable candidate. (We will be also hiring a Canadian stusuitable candidate. (We will be also hiring a Canadian stusuitable candidate. (We will be also hiring a Canadian stusuitable candidate. (We will be also hiring a Canadian stusuitable candidate. (We will be also hiring a Canadian stusuitable candidate. (We will be also hiring a Canadian stusuitable candidate. (We will be also hiring a Canadian stusuitable candidate. (We will be also hiring a Canadian stusuitable candidate. (We will be also hiring a Canadian stusuitable candidate. (We will be also hiring a Canadian stu-dent as part of our summer work program as we have been dent as part of our summer work program as we have been dent as part of our summer work program as we have been dent as part of our summer work program as we have been dent as part of our summer work program as we have been dent as part of our summer work program as we have been dent as part of our summer work program as we have been dent as part of our summer work program as we have been dent as part of our summer work program as we have been dent as part of our summer work program as we have been dent as part of our summer work program as we have been dent as part of our summer work program as we have been dent as part of our summer work program as we have been dent as part of our summer work program as we have been dent as part of our summer work program as we have been doing for the past several years.)doing for the past several years.)doing for the past several years.)doing for the past several years.)doing for the past several years.)doing for the past several years.)doing for the past several years.)doing for the past several years.)doing for the past several years.)

Is it Time to Think Differently About Education?*

President’s Report

* (The opinions expressed may not necessarily * (The opinions expressed may not necessarily represent the views or positions of BOMA Calgary)

By William G.R. Partridge, CAE, President &Chief Staff Officer

BOMA Calgary News 3

WE HAVE A STRONG NATIONAL PRESENCE TO HELP SERVE THE

DIVERSE NEEDS OF OUR TENANTS

Fully integratedtenant solutions

www.dundeerealty.com403.212.7114

To view our portfolio of properties, visit:

Or contact us at:

Northwest Territories British Columbia Alberta Saskatchewan

Ontario Quebéc New Brunswick Prince Edward Island Nova Scotia

BOMA Calgary News 4

So here is the question: as currently structured, does our education system assure our competitiveness in the emerging global economy? Initially I may argue no. Here is why.

The structure of our industrial sector is changing as are the skills necessary to operate within it. Why then are we still training skills necessary to operate within it. Why then are we still training to and for obsolete jobs? Is there a tendency in a union environ-ment to protect positions, and support a minimum standard by tolerating underperforming employees? How is this affecting the quality of teaching? Why aren’t we preparing our kids for the re-alities of a highly competitive international economy? If we don’t adequately prepare kids for the realities of the modern world are we not failing them? Those who defend the status quo say “it’s for the kids.” Really? Then how can you defend the “no grade,” “no fail,” “no zero” policies? The lowest common denominator is not an acceptable situation and it sets our kids up for failure later on in life.

We should champion nothing less than excellence from our invested public dollars. There is, as I am given to under-stand, more education dollars spent on workplace learning than is spent in the public education system. Why is that? Is it evidence that somehow the publicly-funded education has missed the mark? We must prepare our kids to excel in the world to be self-reliant and successful. Schools should be safe environments where failure is not seen as a negative, esteem-destroying thing to be avoided, but rather as a con-

structive opportunity to learn from failures and mistakes and to develop the coping skills that real life will require of them. This is for the kids.

It has been recently reported that there are more than six unemployed Canadians for every vacancy. Are their skills unemployed Canadians for every vacancy. Are their skills aligned with the needs of those available jobs?

The speed with which our industrial base is changing giv-en technology and global economic forces is exciting and alarming at the same time. Progress is exciting in what it may bring, but it is alarming that we may be left behind if we do not adapt to the requirements of the new age.

BOMA is actively engaged in developing, for example, training programs specifically directed to increasing the sup-ply of competent building operators. The competency set has been constructed around the defined needs of building owners, which has led to a de facto industry standard. One reason for this is the present mandated licensing course pro-vides operators with about 10 to 15 per cent of the material they need to know to do the job proficiently.

It is important for industry to insist our education provides it with what it needs to meet its requirements now and into the future. We must not be left behind. Our world has never been about the survival of the fittest. The reality is the survival of the most adaptable. I have faith in our kids. And they deserve our help.

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BOMA Calgary News 5

Inside the Industry

Bentall Kennedy Ranks 1st in Sustainability

( 2 years in a row! )

Bentall Kennedy is ranked #1 in the Diversified Commercial Real Estate category in the Americas by the 2012 Global Real Estate Sustainability Benchmark Research Report. The survey findings represent 450 participants, 36,000 properties, and over $1.3 trillion in assets. But for us it represents a win / win for our clients and the communities in which we live and work:

Clients Win• Attracting the best tenants• Delivering extraordinary tenant services• Achieving higher and more sustainable

value for our clients’ assets

Communities Win• Creating healthier work places• Improving air quality due to lower

CO2 emissions• Consuming fewer natural resources

in high-efficiency buildingswww.bentallkennedy.com

BOMA Calgary News 4

www.SerVantage.ca

Everyday

Sharing your vision. Building success.

| BUILDINGS | CIVIL INFRASTRUCTURE | SPECIAL PROJECTS |

Watch us build at PCL.com

BOMA Calgary News 5

BOMA Calgary News: How did you get into commercial real estate? Was there a defining moment or key person in your life that influenced you most in your career path?

Andy Baxter: My first exposure to commercial real estate was through working on the database for the BOMA Building Guide. As I was collecting the information by contacting owners and managers, I got the sense that this was a good business. I thought it was worthwhile to check it out. And it stuck.

Roddrick Hofrichter: I found my way to the industry through a tenant services and security position at Scotia Centre. Rita Reid and Ashley Phillips, who were part of the management team, were an important influence and they showed me the potential for growth in the industry.

BCN: Why do you feel mentorship is important?

AB: Mentoring isn’t necessarily about passing on specific technical skills; it’s about passing on business acumen, and developing the professional character of the protégé. It’s about helping the protégé to step back and see the bigger

picture in regards to business decisions. A mentor is there to be a sounding board and give options.

RH: Mentoring gives up and coming leaders support in an unbiased environment. A mentor increases a protégé’s confi-dence in their own abilities. Their feedback can help when a protégé is second guessing.

BCN: What would you advise or suggest for the future lead-ers of the industry?

RH: Don’t be afraid to ask for help and ask questions. The in-dustry has many possible career paths and a lot of potential for growth and development based on your abilities and interests.

AB: 30 years in the industry is a long time, take that into consideration as you chose your path. I believe there are four cornerstones within the industry: operations; financial accountability and asset management; human resource re-lated tasks; and leasing. Think about how your personality and skills align. You may have to fail at one to find your way. There is something for everyone.

Inside the Industry Andy Baxter, Yale Properties, Mentor & Roddrick Hofrichter, Cominar, Protégé

BOMA Calgary offers a mentorship program for its property management members. This month, we sit down with one of the mentor pairs to discuss their experiences and thoughts on mentorship.

Bentall Kennedy Ranks 1st in Sustainability

( 2 years in a row! )

Bentall Kennedy is ranked #1 in the Diversified Commercial Real Estate category in the Americas by the 2012 Global Real Estate Sustainability Benchmark Research Report. The survey findings represent 450 participants, 36,000 properties, and over $1.3 trillion in assets. But for us it represents a win / win for our clients and the communities in which we live and work:

Clients Win• Attracting the best tenants• Delivering extraordinary tenant services• Achieving higher and more sustainable

value for our clients’ assets

Communities Win• Creating healthier work places• Improving air quality due to lower

CO2 emissions• Consuming fewer natural resources

in high-efficiency buildingswww.bentallkennedy.com

BOMA Calgary News 6

President’s Award for Sustainability, Alberta President’s Award for Sustainability, Alberta President’s Award for Sustainability, Alberta President’s Award for Sustainability, Alberta President’s Award for Sustainability, Alberta President’s Award for Sustainability, Alberta President’s Award for Sustainability, Alberta InfrastructureInfrastructureInfrastructure

See Calgary differently through this incredible photo collection, available at info@boma.ca

Building on the BowLandma r k s   i n  Ca l g a r y  Comme rc i a l   R e a l   E s t a t e

Welcome New BOMA Member Companies!

• Apex Mechanical Plumbing & Heating Ltd., Robin Popowich

• ATCO EnergySense, Jim Bos

• Attivo Glass Contracting & Services, Jason Wiebe

• Calgary Economic Development, Ramzieh Khalil

• ProStar Cleaning & Restoration, Jodi Scarlett

•Silvera, Brian Foley

• Simran Canada - Water Treatment Co., Rav Dhanoa

Chris Howard, Chair, and Bill Partridge, President & CSO, present the BOMA BESt Level 3 recertification for Plains Midstream Plaza to Jason Grieve, Bruce Dalsto, John Fisher, Graham Sidders and David Moore of Triovest

Ahmet Memedovski, Sam Nijjar and Mike Glave, Strategic Ahmet Memedovski, Sam Nijjar and Mike Glave, Strategic Ahmet Memedovski, Sam Nijjar and Mike Glave, Strategic Group accept the BOMA BESt Level 1 certificate for Macleod Group accept the BOMA BESt Level 1 certificate for Macleod Group accept the BOMA BESt Level 1 certificate for Macleod Place I & II

Josh Rusnak and Dwayne Jans accept the BOMA BESt Level 1 Josh Rusnak and Dwayne Jans accept the BOMA BESt Level 1 Josh Rusnak and Dwayne Jans accept the BOMA BESt Level 1 Josh Rusnak and Dwayne Jans accept the BOMA BESt Level 1 Josh Rusnak and Dwayne Jans accept the BOMA BESt Level 1 Josh Rusnak and Dwayne Jans accept the BOMA BESt Level 1 Josh Rusnak and Dwayne Jans accept the BOMA BESt Level 1 Josh Rusnak and Dwayne Jans accept the BOMA BESt Level 1 Josh Rusnak and Dwayne Jans accept the BOMA BESt Level 1 certificate for Westmount Corporate Campuscertificate for Westmount Corporate Campuscertificate for Westmount Corporate Campuscertificate for Westmount Corporate Campuscertificate for Westmount Corporate Campuscertificate for Westmount Corporate Campuscertificate for Westmount Corporate Campus

The 2013-2014 BOMA Building Guide will be available in September

Sign up for your copies at info@boma.ca or 403.237.0559

BOMA Insider

Golf Classic Co-Title SponsorGolf Classic Co-Title SponsorGolf Classic Co-Title SponsorGolf Classic Co-Title SponsorGolf Classic Co-Title Sponsor

BOMA Calgary News 7

BOMA Insider BOMA InsiderExcellence Awards Recipients

www.ritewayfencing.com

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7710 - 40 Street S.E.Calgary, AB T2C 3S4

403.243.8733

• Chain link fencing

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BOMA Calgary News 6

See Calgary differently through this incredible photo collection, available at info@boma.ca

Building on the BowLandma r k s   i n  Ca l g a r y  Comme rc i a l   R e a l   E s t a t e

Welcome New BOMA Member Companies!

• Apex Mechanical Plumbing & Heating Ltd., Robin Popowich

• ATCO EnergySense, Jim Bos

• Attivo Glass Contracting & Services, Jason Wiebe

• Calgary Economic Development, Ramzieh Khalil

• ProStar Cleaning & Restoration, Jodi Scarlett

•Silvera, Brian Foley

• Simran Canada - Water Treatment Co., Rav Dhanoa

The 2013-2014 BOMA Building Guide will be available in September

Sign up for your copies at info@boma.ca or 403.237.0559

BOMA Insider

BOMA Calgary News 7

President’s Award for President’s Award for President’s Award for Young Professional, Young Professional, Young Professional, Dustin Engel, Alberta Dustin Engel, Alberta Dustin Engel, Alberta InfrastructureInfrastructureInfrastructure

Operator of the Year, Operator of the Year, Cesar Villamaria, Cesar Villamaria, Brookfield PropertiesBrookfield Properties

EARTH Award, BP Centre, Bentall Kennedy (Canada) LPEARTH Award, BP Centre, Bentall Kennedy (Canada) LPEARTH Award, BP Centre, Bentall Kennedy (Canada) LPEARTH Award, BP Centre, Bentall Kennedy (Canada) LPEARTH Award, BP Centre, Bentall Kennedy (Canada) LP

Office Building Office Building 100,000 – 249,999 SQ FT, 100,000 – 249,999 SQ FT, Calgary Board of Calgary Board of Calgary Board of Education Tower, Education Tower, Bentall Kennedy Bentall Kennedy (Canada) LP(Canada) LP

Office Building 500,000 – 1 Million SQ FT, Jamieson Place, Bentall Kennedy (Canada) LP

Property Management Team of the Year, Suncor Energy Centre, Brookfield Properties

Operations Team of the Year, Suncor Energy Centre, Brookfield PropertiesOperations Team of the Year, Suncor Energy Centre, Brookfield Properties

Pinnacle Customer Service Award, Bee-Clean Building MaintenancePinnacle Customer Service Award, Bee-Clean Building MaintenancePinnacle Customer Service Award, Bee-Clean Building MaintenancePinnacle Customer Service Award, Bee-Clean Building MaintenancePinnacle Customer Service Award, Bee-Clean Building Maintenance

Pinnacle Innovation Award, Manorrlea Systems Inc.

BOMA Insider BOMA InsiderExcellence Awards Recipients

Malcolm Bryce Award Malcolm Bryce Award Malcolm Bryce Award Malcolm Bryce AwardJohn SargissonJohn SargissonJohn SargissonJohn Sargisson20 Vic Management20 Vic Management20 Vic Management20 Vic Management

www.ritewayfencing.com

Residential / Industrial

Repairs

Free Estimates

Rite-WayFencing Inc.

7710 - 40 Street S.E.Calgary, AB T2C 3S4

403.243.8733

• Chain link fencing

• Ornamental Iron fencing

• Wood fencing

• Dog runs

• Electric gate systems

• Rent-A-Fence

• Agricultural Fencing

• Guardrail

• Repairs

• Residential / Industrial

• Free Estimates

BOMA Calgary News 8

Weather-Based Technology Takes Sting Out of Hike Out of Hike In Water Rates

The rapid increase in City of Calgary water rates – up 25 per cent over three years – is forcing property owners and managers to turn off the tap on money, literally and

metaphorically, going down the drain.Water is a key component of the BOMA Building Envi-

ronmental Standard (BESt). Reducing water consumption through policy and action on conservation, and conducting an in-depth water assessment contribute to a better perform-ing building.

In growing numbers, property owners and managers are therefore looking at climate controlled irrigation, which has a typical return of investment of less than two years.

In fact, over 60 per cent of local companies who received the coveted BOMA BESt certification in recent years have converted to the new ‘smart’ controllers as a way to efficiently conserve water.

As the name suggests, climate controlled irrigation is gov-erned by the weather.

‘Smart’ controllers take into account the prevailing condi-tions (including rainfall, wind, sun and humidity) and also site-specific conditions such as soil type, slope, root depth and plants. They allow sprinklers to only come on when lack and plants. They allow sprinklers to only come on when lack of moisture in the soil demands it.of moisture in the soil demands it.of moisture in the soil demands it.

In contrast, traditional timer-based irrigation systems operIn contrast, traditional timer-based irrigation systems operIn contrast, traditional timer-based irrigation systems operIn contrast, traditional timer-based irrigation systems oper-ate on a pre-set program (normally three times a week) and ate on a pre-set program (normally three times a week) and ate on a pre-set program (normally three times a week) and ate on a pre-set program (normally three times a week) and ate on a pre-set program (normally three times a week) and at pre-set times. In other words, the sprinklers still come on at pre-set times. In other words, the sprinklers still come on at pre-set times. In other words, the sprinklers still come on at pre-set times. In other words, the sprinklers still come on at pre-set times. In other words, the sprinklers still come on at pre-set times. In other words, the sprinklers still come on at pre-set times. In other words, the sprinklers still come on even if a seven-day deluge has us contemplating a modern-even if a seven-day deluge has us contemplating a modern-even if a seven-day deluge has us contemplating a modern-even if a seven-day deluge has us contemplating a modern-even if a seven-day deluge has us contemplating a modern-even if a seven-day deluge has us contemplating a modern-even if a seven-day deluge has us contemplating a modern-even if a seven-day deluge has us contemplating a modern-even if a seven-day deluge has us contemplating a modern-day Noah’s Ark.day Noah’s Ark.day Noah’s Ark.day Noah’s Ark.day Noah’s Ark.

As a result, plants and lawns are watered too frequently As a result, plants and lawns are watered too frequently As a result, plants and lawns are watered too frequently As a result, plants and lawns are watered too frequently As a result, plants and lawns are watered too frequently As a result, plants and lawns are watered too frequently As a result, plants and lawns are watered too frequently As a result, plants and lawns are watered too frequently As a result, plants and lawns are watered too frequently and/or for too long, which wastes water, wastes money, damand/or for too long, which wastes water, wastes money, damand/or for too long, which wastes water, wastes money, damand/or for too long, which wastes water, wastes money, damand/or for too long, which wastes water, wastes money, damand/or for too long, which wastes water, wastes money, damand/or for too long, which wastes water, wastes money, damand/or for too long, which wastes water, wastes money, damand/or for too long, which wastes water, wastes money, dam-ages plant and grass health, and can wash harmful lawn and ages plant and grass health, and can wash harmful lawn and ages plant and grass health, and can wash harmful lawn and ages plant and grass health, and can wash harmful lawn and ages plant and grass health, and can wash harmful lawn and ages plant and grass health, and can wash harmful lawn and ages plant and grass health, and can wash harmful lawn and ages plant and grass health, and can wash harmful lawn and ages plant and grass health, and can wash harmful lawn and ages plant and grass health, and can wash harmful lawn and ages plant and grass health, and can wash harmful lawn and ages plant and grass health, and can wash harmful lawn and ages plant and grass health, and can wash harmful lawn and garden chemicals into Calgary’s rivers. Trees too are often garden chemicals into Calgary’s rivers. Trees too are often garden chemicals into Calgary’s rivers. Trees too are often garden chemicals into Calgary’s rivers. Trees too are often garden chemicals into Calgary’s rivers. Trees too are often garden chemicals into Calgary’s rivers. Trees too are often garden chemicals into Calgary’s rivers. Trees too are often garden chemicals into Calgary’s rivers. Trees too are often garden chemicals into Calgary’s rivers. Trees too are often garden chemicals into Calgary’s rivers. Trees too are often victims of over-watering.victims of over-watering.victims of over-watering.

Other benefits include reduced operating costs, public Other benefits include reduced operating costs, public Other benefits include reduced operating costs, public Other benefits include reduced operating costs, public Other benefits include reduced operating costs, public Other benefits include reduced operating costs, public Other benefits include reduced operating costs, public Other benefits include reduced operating costs, public Other benefits include reduced operating costs, public Other benefits include reduced operating costs, public recognition for going ‘green,’ enhanced curb appeal and a recognition for going ‘green,’ enhanced curb appeal and a recognition for going ‘green,’ enhanced curb appeal and a recognition for going ‘green,’ enhanced curb appeal and a recognition for going ‘green,’ enhanced curb appeal and a recognition for going ‘green,’ enhanced curb appeal and a recognition for going ‘green,’ enhanced curb appeal and a recognition for going ‘green,’ enhanced curb appeal and a recognition for going ‘green,’ enhanced curb appeal and a recognition for going ‘green,’ enhanced curb appeal and a smaller carbon footprint.smaller carbon footprint.smaller carbon footprint.smaller carbon footprint.smaller carbon footprint.

The normal cost for a ‘smart’ controller is between $3,000 The normal cost for a ‘smart’ controller is between $3,000 The normal cost for a ‘smart’ controller is between $3,000 The normal cost for a ‘smart’ controller is between $3,000 The normal cost for a ‘smart’ controller is between $3,000 The normal cost for a ‘smart’ controller is between $3,000 The normal cost for a ‘smart’ controller is between $3,000 The normal cost for a ‘smart’ controller is between $3,000 The normal cost for a ‘smart’ controller is between $3,000 The normal cost for a ‘smart’ controller is between $3,000 The normal cost for a ‘smart’ controller is between $3,000 and $4,000.and $4,000.and $4,000.

BOMA BESt – and by association, BOMA Calgary – is BOMA BESt – and by association, BOMA Calgary – is BOMA BESt – and by association, BOMA Calgary – is BOMA BESt – and by association, BOMA Calgary – is BOMA BESt – and by association, BOMA Calgary – is BOMA BESt – and by association, BOMA Calgary – is BOMA BESt – and by association, BOMA Calgary – is BOMA BESt – and by association, BOMA Calgary – is BOMA BESt – and by association, BOMA Calgary – is BOMA BESt – and by association, BOMA Calgary – is BOMA BESt – and by association, BOMA Calgary – is committed to the principles of conservation and efficient wacommitted to the principles of conservation and efficient wacommitted to the principles of conservation and efficient wacommitted to the principles of conservation and efficient wacommitted to the principles of conservation and efficient wacommitted to the principles of conservation and efficient wacommitted to the principles of conservation and efficient wacommitted to the principles of conservation and efficient wacommitted to the principles of conservation and efficient wacommitted to the principles of conservation and efficient wacommitted to the principles of conservation and efficient wa-ter management.ter management.ter management.

Climate controlled irrigation meets the criteria.Climate controlled irrigation meets the criteria.Climate controlled irrigation meets the criteria.Climate controlled irrigation meets the criteria.Climate controlled irrigation meets the criteria.Climate controlled irrigation meets the criteria.Climate controlled irrigation meets the criteria.Climate controlled irrigation meets the criteria.Climate controlled irrigation meets the criteria.

Bob Poole is Vice-President of Marketing and Media for Bob Poole is Vice-President of Marketing and Media for Bob Poole is Vice-President of Marketing and Media for Bob Poole is Vice-President of Marketing and Media for Bob Poole is Vice-President of Marketing and Media for Bob Poole is Vice-President of Marketing and Media for Bob Poole is Vice-President of Marketing and Media for Bob Poole is Vice-President of Marketing and Media for Bob Poole is Vice-President of Marketing and Media for Bob Poole is Vice-President of Marketing and Media for Bob Poole is Vice-President of Marketing and Media for ExactET Systems Inc., a Calgary-based company that specialExactET Systems Inc., a Calgary-based company that specialExactET Systems Inc., a Calgary-based company that specialExactET Systems Inc., a Calgary-based company that specialExactET Systems Inc., a Calgary-based company that specialExactET Systems Inc., a Calgary-based company that specialExactET Systems Inc., a Calgary-based company that specialExactET Systems Inc., a Calgary-based company that specialExactET Systems Inc., a Calgary-based company that specialExactET Systems Inc., a Calgary-based company that specialExactET Systems Inc., a Calgary-based company that special-izes in climate controlled irrigation.izes in climate controlled irrigation.izes in climate controlled irrigation.izes in climate controlled irrigation.izes in climate controlled irrigation.izes in climate controlled irrigation.izes in climate controlled irrigation.

Clientsandgrowing

years for ROI years for ROI

Typicalnumber of

years for ROI

stations located stations located Weather

stations located across Canada

Billion litres saved

www.exactet.cawww.exactet.ca

C A N A D A ’ S L E A D E R

Billion litres saved

Clientsandgrowing

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Typicalnumber of

years for ROI

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across Canadaacross Canadaacross Canadaacross Canada

BillionBillionBillionBillion Billion Billionlitres litres litres litres savedsavedsavedsaved1.461-2

60040

Climate ControlledIrrigation

BOMA Calgary News 9

Retail Frenzy Still Hot in Calgary

Canada’s Top Security Company | paladindecurity.com

BOMA Calgary News 8

Clientsandgrowing

Typicalnumber of

years for ROI

Weather stations located across Canada

Billion litres saved

www.exactet.cawww.exactet.ca

1.461-2

60040

BOMA Calgary News 9

Commercial real estate in Calgary is firing on all cyl-inders; downtown offices are rising, suburban offices are sprawling and industrial real estate is clawing its

way further into the surrounding countryside.But it’s the constant growth of and need for more retail that

seems so amazing, and that is such a good indicator of the health of this city.

A recent Canada-wide survey by Return On Insight re-ports, “Calgary’s image as a tourist destination is changing positively in the minds of most Canadians, led by a perceived increase in great food and restaurants, western hospitality, and opportunities for shopping.”

It doesn’t seem that long ago that many were up in arms at the closing down of a trailer court to make way for Dalhousie Station and its Safeway store. “But there’s a Safeway in Brent-wood and another at Market Mall, and Co-ops already in Brentwood and Dalhousie – how many more do we need?” was the bemused call.

Since then both of those chains expanded into not too far away Crowfoot and the Co-op to the nearby Hamptons.

And it’s the same in other communities.People also scratched their heads when the decision was

made to close Sears in Chinook Centre but lo and behold, management – and shoppers - are excited about our first Nordstrom, in a mall that now measures 1.2 million square feet and continues to break sales records.

Other big centres like Market Mall, Southcentre, Deerfoot Meadows and the just outside city limits Cross Iron Mills, all seem to be very healthy. So does downtown which makes us so much more attractive than a good many North American cities.

No doubt they are fuelled by the thousands of office workers who shop lunchtimes, after work and stand in line-ups during work hours for coffees as well as an increasing number of people living downtown, but quality destination merchants are slowly beginning to entice people back into the core evenings and weekends.

Retail Frenzy Still Hot in CalgaryBy David ParkerBy David ParkerBy David Parker

Canada’s Top Security Company | paladindecurity.com

Here we go again. After five years of uninterrupted bullishness, Alberta’s boom-and-bust economic soap opera appears to have hit yet another plot snag.

Falling resource revenues are expected to result in a bud-get deficit of $4 billion for the 2013-14 fiscal year. An April 8 article in the Calgary Herald indicated that business leaders’ confidence in the economy was at its lowest level since the financial crisis, with the PwC Business and Consumer Confi-dence Indexes indicating similarly low levels of confidence among the province’s consumers.

As it always happens when Alberta’s economy goes south, the subject of economic diversification returns to the fore-front in provincial media, with the underlying assumption being that diversification of Alberta’s oil and gas-dominated economy continues to be elusive.

University of Calgary economist, Ron Kneebone, recently upbraided the provincial government’s framing of the cur-rent fiscal conundrum as an oilsands problem (namely the so-called “bitumen bubble”), alleging the real culprit is the government’s long-standing over-reliance on petroleum revenues. “The financial problem,” he asserts, “is due to a decision to undertake a high-risk budgeting strategy of rely-ing on a source of revenue they know they cannot rely on.”

Alberta’s image as an economic house of cards sitting pre-cariously on the Athabasca oilsands, while rooted in reality,

Economic Diversification: Alberta’s Quiet Transformation • Exporting

BY BEN FREELAND

Economic Diversification: Alberta’s Quiet Transformation

Calgary-based SMART Technologies, long a strong force in education technology, is making a concerted effort to offer its solutions to the business community.

BOMA Calgary News

Certainly owners feel very confident, which is reflected in the tightness of the retail market. There are very few vacancies and new spaces are gobbled up in remarkably short times. A good example is the leasing by Taurus Property Management of all of the retail space available in The Bow building and, thank goodness, the available space in the majestic Bank of Montreal building on the mall that has been vacant for far too long.too long.

The ‘burbs are just as busy with new construction and reno-vations to shopping centres.

Westhills will welcome to Calgary Mastermind Toys and another National Pub location, and Crowfoot, as well as un-dergoing a needed facelift, has added Community Natural Foods and a Keg Steakhouse to its tenant mix.

Thanks to the affluence of the area it is no surprise that 85th Street S.W. is attracting quality retailers.

At the south end Aspen Landing is a huge success, but so is the top of the hill towards Bow Trail where the Co-op will soon be joined by a Loblaws and diners can take a pick of delights such as Mercato West, Vin Room and Fergus & Bix Restaurant and Beer Market.

More retail is being added in the office block on the east side of 85th being built by Bri-Mor Developments, and it is already fully leased. I expect its second office/retail develop-ment planned between Phase 1 and St. Michael’s Catholic Church will be snapped up just as quickly.

Retail is rosy – just wish we could see some progress with Eau Claire Market.

10

Calgary • aB

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