Strathcona County Economic Update

March 2018

December 12, 2019

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98,38171,332 urban

27,049 rural

2.9% growth over three years. 1% per year

4,371,316 in Alberta (July 1st, 2019)

37,589,262 in Canada (July 1, 2019)

2018 Municipal Census results, Strathcona County, Statistics Canada population estimates Sept. 30, 2019

Population

Strathcona County Fast Facts

Urban and Rural Mix 71,332/27,049

• Sherwood Park

• Ardrossan

• South Cooking Lake

• Antler Lake

• North Cooking Lake

• Collingwood Cove

• Hastings Lake

• Josephburg

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Edmonton CMA Stats

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Edmonton CMA Stats

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New House Avg. Prices (Edmonton CMA)

• The average price for single-family homes absorbed in the

Edmonton region in September increased by almost 4% year-over-

year to $597,913 (CMHC data).

• After 3 quarters this year, the average absorbed single-detached price has declined 0.9% from January to September 2018 to

$554,339.

Population Edmonton CMA 1.42 million 2018

Edmonton Global

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Edmonton Global

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DEMOGRAPHICS

Work Commute

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50%Non-residents

65%Residents

2016 census results

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18,650 into SC

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$160,655$

2016 McSweeney report

50.7% of total households in Strathcona County

had income of $125,000 or higher

Average income of Economic Families $188,347

Average Household Income

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$5.6 billion

Household spending power

People per household

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2.7

2016 census results

2.6 for Alberta

2.4 for Canada

Age

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39.2

2016 census results, Sept. 2019 Statistics Canada

Average in Canada is 40.8

Average in Alberta 37.1

16

Building Permit Values

16

Projected tax increase

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Tax Revenue

Split:

Percentage

(%)

Non-

Residential

64

Residential 36

Tax Increase: 2019 0.83

2020 1.21

2021 1.88*

2022 1.61*

* Projected by Council

Impact of tax rate for site selection

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Amazon 1,000,000 sq. ft.

Projected:

Leduc $1.6 million

Edmonton $3.24 million

Strathcona

County

$1.94 million

Housing update Lorenz Team

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COMMERCIAL

Retail Market Supply

12/16/2019 21Source: Thomas Consulting Jan. 23 2018

4.1 million sf

226,035 sf

TOTAL

VACANT

~6%VACANCY RATE

Sherwood Park Mall and Centre in the Park

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Sherwood Park Mall

New experience coming to Cineplex Cinema Sherwood Park- Multi million dollar investment

• All Recliner Seating: Coming soon in 2020, each of the theatre’s auditoriums will be

upgraded to feature comfortable, extra-wide seats that recline at the touch of a button

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Centre in the Park

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The Market at Centre in the Park

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Cameron Developments – The Market

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Savona

Remedy Café Savona Now Open

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My Savona www.salvigroup.com

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Aspen Plaza Corner of Sherwood Drive & Lakeland Drive

Aspen Plaza Corner of Sherwood Drive & Lakeland Drive (97,112 sq.ft)

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www.aspenplaza.ca

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Emerald Hills Shopping Centre

Emerald Hills Shopping Centre

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Emerald Hills Retail

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Emerald Hills

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Sandman Signature and Chop Steakhouse

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Buckingham Business Park

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Buckingham Business Park

Join Peavey Mart - Broadmoor Commercial

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Broadmoor Commercial Site Plan

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Millennium Ridge Q2 2020

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Millennium Ridge Phase 2

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Ardrossan Commercial

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• 19.71 Acres for sale

• South Corner with 4-5 acre

parcel for commercial

45

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Emerald Hills Retirement Residence by:

Chartwell

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Aster Gardens by: Optima Living

Office Leasing

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1.4 million sf

369,804 sf

TOTAL

VACANT

26.3%VACANCY RATE

Broker Reports for Metro Edmonton

Industrial

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Emerald Hills Professional Building

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Wye Business Centre

51

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• 120,000 square feet of 2019 office absorption

Market Updates

New and Upcoming

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Retail Sales Gap Recommendations

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Bremner & Local Employment Area

• On Sept 10, council passed 2nd and

3rd reading and voted to adopt the

Bremner & LEA Area Concept Plan

(ACP)

• 20km2 area, 80,000 resident

capacity, 40 year projected build-

out

• Developers can now approach

Strathcona County to develop Area

Structure Plans (ASPs)

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https://www.strathcona.ca/files/files/pds-bylaw3-2019.pdf

Bremner What Next

• The first Sub-Area Structure Plan is

anticipated to be in the northwest

near Township Road 534 and

Highway 21.

• Infrastructure (roads and utilities)

development costs and timing are yet

to be determined

• ~15% of total infrastructure will be

built in first 10 years

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Development Concept Bremner

Development Concept LEA

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INDUSTRIAL

Oil Pricing is complicated

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Exchange value

$US 55.67 = $Cdn 73.92

Average YTD

$US 56.69 = $Cdn 75.27

Refinery Western Canada

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With delay in production for NWR until 2020, 69% of

total refinery capacity is in Strathcona County

Alberta's Industrial Heartland:

Economic Impact

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Trans Mountain Update

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Major Projects in the AIH

• Heartland Petrochemical Project $4.1

billion

• CKPC and Pembina PDH and PP

$4.5 billion

• Shell Scotford two turn arounds 2019

• NW Refinery turn around and final

work $250 million

• Alberta Carbon Capture Line $500

million

• Enbridge Line 3 operating and

affecting volumes from SIA and AIH

• Three projects in SC portion of the

AIH going through study

• Total value of the projects over $12.0

billion

• Project in other parts of the AIH in

the range of $3.0 billion - $5.0 billion

• Suncor investing $1.4 billion to low

carbon power cogeneration in Ft.

McMurray

• Imperial Oil (Exxon Mobil) Aspen

project in Wood Buffalo 75,000 bpd

in-Situ

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Heartland Petrochemical Interpipeline

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As of the end of September, Inter Pipeline Ltd. says it has invested approximately $1.9

billion of the estimated $3.5-billion capital cost of the Heartland Petrochemical Complex, a

propane dehydrogenation (PDH) and polypropylene (PP) facility under construction near

Fort Saskatchewan.

The company reported $337.6 million in capital spending on the project for the third quarter,

for the procurement of materials and construction services.

“Milestones for the third quarter include completing piling activities with approximately 6,500

pilings installed, commencing structural steel erection for the polypropylene plant, and

installing the first major components of the central utility block,” Inter Pipeline said earlier

this month.

“The last major equipment lifts for the complex were also completed in the quarter with the

installation of the propane dehydrogenation flare stack and the 300-tonne polypropylene

purge bin.”

Heartland Petrochemical Complex

• https://www.youtube.com/watch?v=2phsi56cSG4

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https://www.youtube.com/watch?v=2phsi56cSG4

NW Refinery

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CKCP and Pembina $4.5 billion

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Alberta Carbon Trunk Line

- $500 million

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Vision for AIHA

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For further information, contact Strathcona County Economic Development & Tourism:

Gerry Gabinet, Director

780-464-8257

gerald.gabinet@strathcona.ca

Shane Olson, Commercial Development Manager

780-464-8259

shane.olson@strathcona.ca

Sean McRitchie, Industrial Development Manager

780-410-8511

sean.mcritchie@strathcona.ca

Stephen Rausch, Senior Business Development

Specialist

780-464-8241

stephen.rausch@strathcona.ca

Richard MacDonald, Small Business & Tourism

Specialist

780-416-6757

richard.macdonald@strathcona.ca

Contact

mailto:gerald.gabinet@strathcona.camailto:shane.olson@strathcona.camailto:sean.mcritchie@strathcona.camailto:stephen.rausch@Strathcona.camailto:Richard.MacDonald@strathcona.ca