Business in Calgary - October 2023

THE SECOND ANNUAL DIGITAL COMMERCE CALGARY FINTECH AWARD - TOP 12 FINALISTS

JON CHRISTENSEN

MAXWELL NICHOLSON

EVAN FERGUSON

SANDI GILBERT

JEAN BRUCE KOUA

KINGSLEY MADU

JASON GEALL

CLARE LAM

MICHAEL COLLINS AL-KARIM KHIMJI KYLE FRIEDMAN YVETTE WU

Calgary’s Best-Selling Urban Community

University of Calgary Properties Group is the developer for University District, Calgary’s best-selling urban community located west of the University of Calgary main campus.

University District has been mindfully designed with a peoplefirst approach and offers close amenities, an unmatched atmosphere, and community events that bring Calgarians together to create one of the most vibrant northwest communities brimming with life.

University District has flourished into a thriving community with 40 acres of existing greenspace, 12 km of interconnected pathways, a growing mix of new housing and rental opportunities, a diverse array of main street retailers, and office space overlooking picturesque views of the three-acre Central Commons Park. Experience the community character at an upcoming event. Life works here.

ASK SAM

THE IMPACT OF RISING INTEREST RATES

QHOW HAS THE REAL ESTATE MARKET ADAPTED TO THE INCREASE IN INTEREST RATES?

The recent surge in interest rates has significantly reverberated throughout Calgary’s housing market. As rates climb, so do monthly mortgage expenses, placing an additional burden on prospective homebuyers. Additionally, those with impending mortgage renewals are grappling with pressing questions regarding affordability. Let’s dive into the market trends that are taking shape due to higher interest rates.

HOW BUYERS HAVE RESPONDED TO HIGHER COSTS

Affordability has become a growing concern, causing purchasers to grapple with reduced buying power due to the heightened cost of borrowing. This has driven many buyers to explore neighbourhoods outside their initial preferences where housing prices are more within reach. Also, there’s a noticeable trend toward increased rental activity, since some purchasers cannot find a home that suits their budget and requirements. This has further intensified the competition within the rental market.

UNAFFORDABLE MORTGAGE RENEWALS

If you are up for a mortgage renewal, brace yourself for higher rates than what you were paying five years ago. Lately, I have been fielding numerous calls from concerned past clients whose mortgage renewals are on the horizon. One client I spoke with who holds a variable-rate mortgage was experiencing as much as a $10,000 spike in their monthly payments. Meanwhile, another client was grappling with a substantial 4% increase in interest rates.

RISING INVENTORY & FALLING PRICES

For some home owners, these kinds of numbers are not manageable, prompting them to contemplate a strategic moveselling their current home and seeking a more affordable one. My prediction is that we’ll see a growing number of home owners facing this predicament, which will lead to an uptick in housing inventory. As a rule of thumb, when inventory levels rise, prices tend to follow a downward trajectory.

STAY AHEAD OF THE CURVE

If you are thinking about selling your home whether it’s prompted by rising interest rates or any other reason, I would strongly advise you to take proactive steps and considering listing it while housing inventory remains scarce and market prices are more favourable. Over the next 12 to 18 months we may see a major shift in within the market. My recommendation is to stay ahead of the curve so you can navigate market dynamics proactively. GET IN

THE MARKET WAITS FOR NO ONE.

TOUCH TODAY AND STAY AHEAD OF THE CURVE IN YOUR REAL ESTATE ENDEAVOURS.

ASPEN WOODS | $2,095,000

Custom-built for large families and those who love to entertain, this impressive home is situated on a coveted cul-desac. Upon entering, the grandeur of the two-story foyer, curved staircase, and rich woodwork will take your breath away. The formal living and dining rooms are perfect for hosting guests. The expansive kitchen with a circular island, butler’s pantry, caterer’s kitchen and high-end appliances is a chef’s dream allowing multiple cooks to work at the same time. The kitchen flows seamlessly into the family room, complete with a gas fireplace and double-height bay window. Double doors lead into the home office with built-in desks. A large primary bedroom features a barrel vaulted ceiling, a double sided fireplace and arches leading into the ensuite. Three additional bedrooms each with their own ensuite and a loft provide space for everyone to spread out. The walk-out basement features a wet bar, games and recreation areas, a gym, media room, 2 bedrooms and 2 bathrooms. Enjoy sunsets on the west-facing deck with a gas fireplace. Close to amenities, schools, and a playground, this home has it all.

SPRINGBANK | $1,850,000

Welcome to the finest lot in Springbank, perched on the hill and nestled into a wooded area with unparalleled views of the mountains. Situated on a 2.43+/- acre lot, the residence is surrounded by a beautifully landscaped yard creating an oasis of privacy moments from the city’s conveniences. Unique architectural details like the angular roofline pays homage to the mountain skyline, while brick accent walls add strength to the interior. Warmth and comfort abound in the cozy family room complete with a wood-burning fireplace. The living room boasts expansive windows that frame the sweeping vistas. An elegant dining area features a built-in display cabinet that separates it from the kitchen. Slate flooring leads you seamlessly into the kitchen, which contains maple cabinets, stainless appliances, a pantry and a casual dining area. The laundry/mudroom conveniently connects to the triple garage. The second floor is divided into two wings. One side accommodates a bedroom & bonus room and the other contains the primary suite. With an abundance of personality and a design that’s truly one-of-a-kind, this custom-built home offers a lifestyle that’s as exceptional as its surroundings.

#67

An impeccably maintained villa sitting on the best corner lot of the complex backing a park, with west facing mountain views. Host dinner parties in the welcoming open concept living and dining area. The sunny kitchen features granite counters, white cabinets, stainless appliances and a bright breakfast nook. The main floor primary suite has a generously sized ensuite and ample storage space in the walk-in closet. In the walk-out basement, you’ll discover a spacious family room that is destined to be a gathering point for both relaxation and entertainment. Two bedrooms provide versatility for guests, an office, or gym. Convenience is paramount in this home, with a/c, a main floor laundry room, and an attached double garage. Outdoor living is just as enticing, with a deck extending from the living room and a covered patio off the basement family room. The green space beyond the property offers an array of recreational opportunities, including walking paths, playing fields, tennis courts, and a playground. With proximity to transit, the Westside Recreation Centre, and grocery stores, this villa strikes the perfect balance between tranquility and convenience.

WILD ROSE DRIVE

ASPEN RIDGE MANOR SW

CHRISTIE ESTATES | $750,000

99 CHRISTIE POINT SW

ATB CAPITAL MARKETS: INVESTING IN AND BOOSTING ALBERTA

by Nerissa McNaughton

With the significant shifts in the global and local economy in 2020, Alberta businesses have faced a rapidly changing landscape and greater challenges to access capital. Addressing these needs, ATB Financial, the province’s leading financial institution for more than 80 years, introduced ATB Capital Markets in July 2020. This addition brought the first full-service corporate and investment banking capabilities headquartered within Alberta. Three years in, ATB Capital Markets is making a difference for corporate Alberta – and beyond.

“Through client discussions, we found there was a strong need to add ATB Capital Markets in our product offering,” says Darren Eurich, ATB Capital Markets CEO. “The focus of this arm is to provide more in-depth and sophisticated services for medium to large capital clients.”

Having more than two decades of senior banking experience, Eurich could see the many business opportunities in Alberta as well as the potential of ATB Capital Markets and joined as CEO in July 2022.

“Not many Albertans know that we are actively seeking and supporting opportunities from across North America to invest in key industries in our province. This past September, we hosted a conference in New York where we invited many Alberta-based companies to meet with investors,” he says.

While ATB is actively pursuing opportunities, it does so in a very strategic and disciplined manner.

“We are strong in a number of key industries, but we know ATB cannot be everything to everyone,” Eurich explains. “We want to be great in the sectors and segments we choose. For example, we have a very strong energy franchise. We offer tremendous services to help our clients be successful. The skills we developed in energy, renewables, growth and innovation, and life sciences are transferable across North America.”

Eurich highlights, “While we don’t have the scale of a multinational bank, ATB is thoughtful in our areas of focus and is striving to be the top advisory service in that sector. This allows us to provide the strongest level of service to our clients.”

Client focus is always top of mind.

“The goal is to empower our clients to be successful,” says Eurich. “By not having the same public shareholder pressures that larger banks have, ATB can be more detailed in our process and focus on a longer term and sustainable strategy to clients

ABOVE: DARREN EURICH, ATB CAPITAL MARKETS CEO.

“THROUGH CLIENT DISCUSSIONS, WE FOUND THERE WAS A STRONG NEED TO ADD ATB CAPITAL MARKETS IN OUR PRODUCT OFFERING,” SAYS EURICH.

and profitability. With a comprehensive understanding of our clients and a depth of industry expertise, we can fully support the success of their business.”

ATB Capital Market serves a specific purpose; it is designed for mid-to-large capital clients and offers a larger, more sophisticated suite of products and advisory services.

“ATB Capital Market’s focus is on IPO, equity and debt capital markets, advisory services, project finance, syndications, etc.,” he says. “The difference with our services when compared to commercial banking is that we are very engaged in advising and spend a lot of time tailoring our advisory services for each client’s unique circumstances. If you want to become their trusted advisor, you must really understand their business, their needs and their future goals. This is done by relationshipbuilding, not a quick application process.”

“That relationship-building approach,” continues Eurich, “is truly what sets ATB Capital Markets apart. As banking continues to embrace automation (digital services, robo banks, etc.) I believe that focusing on in-person relationships will garner better results for both ATB and the client – and this is something I care passionately about. Understanding clients’ situations means being able to create a tailored approach that they need and that works.”

Clients, and their start in Alberta, are key parts of ATB Capital Markets’ success. Eurich underscores that Alberta has some major benefits as a place to do business.

“Alberta, known for its vibrant entrepreneurial spirit and exceptional quality of life, offers a multitude of reasons why companies should build and invest here. From a favorable cost of living and housing options to a strong sense of community and a diverse range of industries, Alberta provides a unique advantage that sets it apart from other regions. The entrepreneurial spirit in Alberta is palpable, with people driven to grow, expand and achieve success. The province is home to a vast number of talented individuals who are eager to make

their mark in their respective industries. This collective drive and ambition create an environment where innovation thrives and businesses flourish.

“Alberta boasts a competitive advantage in several key industries, including energy, real estate, technology, agriculture and life sciences. These sectors have a strong foothold in the province and offer ample opportunities for both established corporations and emerging startups. By focusing on these core strengths first, companies can position themselves for success not just in Alberta, but also across Canada and North America.”

Eurich concludes, “Adaptability and innovation are crucial in the ever-evolving financial industry. Alberta’s entrepreneurial nature plays a significant role in supporting ATB Capital Markets to stay nimble and responsive to changing market conditions. Unlike larger competitors, ATB Capital Markets can swiftly adapt to new trends and developments, thanks to our size, having our advisors close and our focus on relationship building. This agility allows us to better serve our clients and generate revenue while maintaining exceptional service standards.”

Learn more online at atbcapitalmarkets.com.

ATB is pleased to present a 2023 profile series on the businesses and people who are facing challenges head-on to build a strong Alberta.

“THE DIFFERENCE WITH OUR SERVICES WHEN COMPARED TO COMMERCIAL BANKING IS THAT WE ARE VERY ENGAGED IN ADVISING AND SPEND A LOT OF TIME TAILORING OUR ADVISORY SERVICES FOR EACH CLIENT’S UNIQUE CIRCUMSTANCES. IF YOU WANT TO BECOME THEIR TRUSTED ADVISOR, YOU MUST REALLY UNDERSTAND THEIR BUSINESS, THEIR NEEDS AND THEIR FUTURE GOALS,” SAYS EURICH

By Shane Wenzel

David Parker

JON CHRISTENSEN MAXWELL NICHOLSON EVAN FERGUSON SANDI GILBERT

JEAN BRUCE KOUA KINGSLEY MADU JASON GEALL CLARE LAM

MICHAEL COLLINS AL-KARIM KHIMJI KYLE FRIEDMAN YVETTE WU

PUBLISHERS

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EDITOR

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COPY EDITOR

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REGULAR CONTRIBUTORS

Shane Wenzel

Cody Battershill

David Parker

THIS ISSUE’S CONTRIBUTORS

Melanie Darbyshire

Rennay Craats

Jamie Zachary

John Hardy

Erlynn Gococo

Parker Grant

PHOTOGRAPHY

Cover photo courtesy of Fintech Awards

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From Home to Homelessness

BY SHANE WENZEL

With house prices rising and homeownership becoming increasingly impossible for many Canadians, it’s a very convenient time for the Prime Minister to suddenly announce that “it’s not his job.”

The rising cost of housing in Canada has reached a crisis point. If you ask the general public who’s to blame, you get a variety of answers. In a recent survey, 40 per cent readily pointed to the federal government, 32 per cent point to the provincial government and 6 per cent blamed municipal governments.

The newly minted ministers at the Liberal Cabinet Summit declared housing a top priority but offered no solutions. It is safe to say nothing creative occurred. I am not saying there is a simple solution, but it is highly likely an allocation of funding will soon be announced, and the problem will be passed on to the provinces and cities to solve. Clearly, the solutions need to be a joint effort between all levels of government. Reducing barriers by changing restrictive zoning and lifting red tape to reduce costs along with other changes could incentivize more ‘affordable’ homes and affordable rental properties.

Another high-risk group are post-secondary students. High tuitions and monthly rents have become unaffordable and a need for occasional visits to the food bank and couchsurfing. Student union leaders claim they spend most of their day focused on student housing woes.

First time home buyers are worried about affordability and existing owners are concerned about being able to maintain their mortgage. Parents are co-signing mortgages, and cities are telling them they all need to stack into highrises.

The mass in-flow of new immigrants and home-grown Canadians coming to Alberta from other parts of Canada for a more affordable lifestyle continues. How is this not an issue? I’m not against immigration, but during the first two quarters of 2023, Calgary noted an increase of some

66,000 newcomers. We simply don’t have the homes to accommodate them.

Canada builds fewer homes each year than were built in the 1970s. But building a flurry of homes for thousands of migrants, students and Albertans is a formidable task.

Alberta is the fastest-growing province in the country, and now represents almost 12 per cent of Canada’s population. And yet, out of federal government’s $1.5 billion Rapid Housing Initiative (RHI) fund allocation, only $38.3 million is heading to Alberta; in other words, just 2.5 per cent. Of the 5,200 total units funded through the initiative, only 200 units are in Alberta – just 3.8 per cent.

It doesn’t stop there – the Canada Mortgage and Housing Corporation (CMHC) has shortchanged Alberta by $114 million on housing, “They should eliminate federal housing programs, return the tax dollars to the provinces they came from, and let us get on with the job.”

There hasn’t been much conversation about ‘subsidized housing’ even thought the concept has been around for years. And what are the plans for the growing ‘homeless’? Affordable and subsidized won’t work for them – they have no income.

While housing shortages and costs rise, the new immigration minister has no plans to lower immigration but plans to increase it each year to 500,000 by 2025.

I would like to leave you with one thought. Affordable housing could be obtained if the city lifted their taxes and levies, the provincial government forwent their taxes and the feds removed their GST; this would eliminate 30 per cent from the cost of the home.

Shane Wenzel is president of the Shane Homes Group of Companies. Follow him @shanewenzel on Facebook, Twitter, LinkedIn, Instagram and YouTube. His column is written for the Alberta Enterprise Group, @AEG on Facebook, Twitter and LinkedIn.

For

10 years Calitso has been providing Calgary

Businesses with Managed IT Services and enhanced technology support & projects.

In addition to our day-to-day Managed IT Services, we offer:

ENDPOINT DETECTION AND RESPONSE.

• We do not compromise when it comes to securing the endpoints that we manage. Traditional anti-virus software is an old, reactive approach to a problem that requires a rapid and cutting-edge solution.

• We focus on monitoring and responding to advanced threats and targeted attacks that bypasses traditional antivirus defenses.

• We leverage behavior-based detection to identify suspicious activities on endpoints, looking for abnormal behavior that might indicate an ongoing attack.

• We challenge the status quo by including advanced functionality such as threat hunting, file integrity monitoring, memory analysis, and advanced analytics.

• We provide 24x7x365 support directly from our Calgary based head office.

BUSINESS CONTINUITY.

• Backing up your data is only one piece of the puzzle, recovering that data can present its own set of challenges. We cut through the noise and provide a backup appliance accompanied by industry-leading software to aid in protecting our customers.

• We backup and recover all layers of the data ecosystem. Rapid file-based recovery for accidental deletion. Image based recovery for virtual machine loss or corruption. Software as a service for protecting often overlooked Office 365 and Google Workspace.

• We can recover your infrastructure in the event of a disaster. This ensures that regardless of the circumstance, you will find us at your side to ensure your business can operate.

• Ransomware is still the most prying and immediate concern. We make it possible for your business to adhere to the 3-2-1 best practice of data backups without interfering with your day-to-day business

CLOUD MIGRATION STRATEGIES.

• Azure/Office 365/Software as a Service

• Whether it’s a move to Microsoft 365/Azure or utilizing cloud-based applications and software, Calitso can help your business with its Cloud Strategy.

• We know that one size does not necessarily fit all, that is why we custom tailor cloud migration projects specific to your use case.

• We partner with all major cloud providers including Microsoft, Amazon Web Services, Google Cloud Platform, and Oracle cloud.

• In addition to the major cloud providers, we manage and maintain the Calitso Cloud, which is our private cloud solution delivered directly from Calgary with geo-redundancy throughout Canada.

• We also implement hybrid cloud strategies, which encompasses utilizing a combination of on-premises resources with tight integration to cloud resources.

Parker’s Pen

BY DAVID PARKER

There are a number of words that one rarely hears or reads anymore. Ones that I would like to resurrect – like henceforth, niggardly, daft and kerfuffle. Codswallop is a lovely sounding word, probably new to most. I could use it to react to the current doom and gloom regarding ‘climate change’.

Yes, the world is experiencing hotter weather, but surely not all the blame can be attributed to fossil fuels.

A rather remarkable photograph of Mary Vaux, one of the early climbers of the Selkirk Mountains, shows her standing in front of the vast Illecillewaet Glacier in 1899.

With her father and brothers, the Philadelphians returned to Canada for many years to climb and conduct studies of glaciers. Between 1898 and 1906, the Illecillewaet receded 84 feet. An impressive photograph of Mount Duncan taken in 1909 shows the prominent Beaver Glacier in the foreground. Two generations later it had melted completely out of view.

And Brewster Transport had only just started to tour people around the parks so motor vehicles can’t be blamed.

Maybe if we went back to using weather instead of climate change, we would sleep a little easier. In my long life there have been many natural disasters caused by hurricanes, tornados, mudslides and fires. We can do what we can to slow down the effects, but cycling to downtown from Tuscany is not going to make much of a difference.

And that leads, of course, to electric cars. Pressure from governments and already huge financial investment by auto makers means production will grow quickly. How fast must installers work to provide sufficient charge stations? There would be few plug-ins along the long road out of Yellowknife for those escaping the flames.

I rarely get upset, not too much really bothers me, but the offhanded, brusque way in which Kimberly Clark decided to tell Canadians it was pulling Kleenex from our shelves, ticked me off.

“Thanks for all of your loyal support over the decades, but we’re big boys now and don’t need you anymore!”

Just have to look for an alternative like KP Tissues or use more hankies. If Kimberly Clark doesn’t need me, then I don’t need them – as I worry about getting older there must be an alternative to Depends.

Into my inbox comes yet another proposed rail service. I was emailed a clipping from Okotoks Online showing a CP train under an announcement that the province is to explore a commuter rail service between Okotoks and Airdrie.

Also in the cards is a downtown-to-Calgary airport connector – which means there would also have to be an Edmonton International Airport to downtown Edmonton link – and besides the huge and increasing capital costs of the Calgary LRT, there are plans well underway for two rail links between this city and Edmonton and a Calgary/Banff line.

Seems like an awful lot of money to spend on a fairly small number of potential riders.

It was suggested to me that if I found myself feeling useless, I should remember it took 20 years, trillions of dollars, thousands of lives and four presidents to replace the Taliban with the Taliban.

Final Words

As I watch this generation rewrite history, I can be sure of one thing: it will be misspelled and have no punctuation.

West Coast Radio Listeners Hear a Balanced Viewpoint on Energy

BY CODY BATTERSHILL

Aduty I enjoy as founder and spokesperson at Canada Action is participating in public discussions on issues around energy and natural resources, often alongside people who offer differing perspectives.

Recently, in a return guest spot on Vancouver’s most listened-to radio station, I was joined on a panel by an accomplished columnist who is a journalism professor and former major daily editor. While we didn’t agree on everything, I appreciated my co-panelist’s participation, and thought many comments showed an articulate, knowledgeable and experienced viewpoint.

Some of our exchanges are worth highlighting. For example, a caller pointed out the fact that China is burning a growing amount of coal to the extent that Chinese emissions dwarf Canada’s, and will do so well into the future. The host paraphrased the caller’s point: “The argument is that if we were to sell our LNG to China in order to displace its coal, the planet would be better off…”

I subscribe to that exact argument as part of the solution to climate mitigation. But my co-panelist then added: “Let’s not forget that China, which is the largest contributor to carbon emissions in the world, is also a leader in solar, wind, electrification. They’ve been going all out, and they are, in many ways, way ahead of the U.S. or ourselves or any other country (on renewables). So, yes, they’re burning coal, but at the same time they’re making huge leaps in terms of turning to renewables and electrification…”

To be clear, if we’re going to provide ‘Kudos to China’ for building out its coal power plants while also investing in wind and solar, then I’ll eagerly await a far more positive assessment of Canada.

THERE’S SIMPLY NO RECONCILIATION WITH INDIGENOUS POPULATIONS WITHOUT IMPROVED ECONOMIC CONDITIONS FOR THEIR COMMUNITIES.

That assessment should recognise that Canada’s coal-fired electricity generation is on track to be phased out by 2030, we’ve peaked in oil and gas GHGs, our LNG industry has reduced emissions and we’re genuinely leading in wind, solar and hydro.

There’s simply no reconciliation with Indigenous populations without improved economic conditions for their communities. LNG will allow First Nations communities to lift themselves out of systemic, generational poverty.

Canadians are craving a balance among views on energy. Shutting down Canada’s oil and gas sector, an ambition held by many on the West Coast and elsewhere, is just not the answer when that product will be replaced by Saudi Arabia, U.S. and other producers.

It’s a message we’re delivering in several Canadian regions, including coastal B.C.: The enormous role sought by First Nations communities in Canadian oil and gas production, along with Canada’s strong commitments on the environment, human rights, health and safety, make the prescription unmistakable:

As global populations increase, the world needs more Canada, not less.

Cody Battershill is a Calgary realtor and founder / spokesperson for CanadaAction. ca, a volunteer-initiated group that supports Canadian energy development and the environmental, social and economic benefits that come with it.

This is the third Germain Hotels property in Calgary, in addition to the Le Germain Hotel in downtown Calgary and Alt Hotel Calgary East Village. Known for its eco-friendly comfort and sleek urban signature, the Alt Hotel is designed with guests in mind Later this fall, a full-service coffee shop on the main floor and restaurant will become available. The property boasts 155 guest rooms set across 15 storeys, in addition to six meeting rooms, 63 underground parking stalls and 16 accessible rooms.

Alt Hotel Calgary University District Welcomes its First Guests

Alt Hotel Calgary University District is now open

Says Maureen Henderson, Vice President of Community Experience for University of Calgary Properties Group, “We would like to warmly welcome Alt Hotel Calgary University District to our neighbourhood. Providing accommodation opportunities for guests visiting friends and family in U/D, to out of town visitors who may need to access the University of Calgary or Alberta Children’s Hospital, to tourists looking for a different area of the city to explore, the Alt Hotel is a convenient and valuable destination for many. We are proud to be extending our diverse offerings to the city with the exciting addition of the Alt Hotel. ” To book a stay, please click here. For more information about University District, visit www.myuniversitydistrict.ca.

University District (U/D) is pleased to announce that Alt Hotel Calgary University District has welcomed its first hotel guests in the neighbourhood. Located along a bustling Retail Main Street at 482 McLaurin Street NW, the new LEED-certified property is just steps away from Calgary’s best restaurants and retailers and five employment hubs, including the Alberta Children’s Hospital and the University of Calgary.

Alt Hotel guests can access the many amenities and greenspace in the area like the three-acre Central Commons Park as well as quick access to the Alberta Rocky Mountains and downtown Calgary.

This is the third Germain Hotels property in Calgary, in addition to the Le Germain Hotel in downtown Calgary and Alt Hotel Calgary East Village. Known for its eco-friendly comfort and sleek urban signature, the Alt Hotel is designed with guests in mind. Later this fall, a full-service coffee shop on the main floor and restaurant will become available. The property boasts 155 guest rooms set across 15 storeys, in addition to six meeting rooms, 63 underground parking stalls and 16 accessible rooms.

Says Maureen Henderson, vice president of Community Experience for University of Calgary Properties Group,

- 30 -

“We would like to warmly welcome Alt Hotel Calgary University District to our neighbourhood. Providing accommodation opportunities for guests visiting friends and family in U/D, to out of town visitors who may need to access the University of Calgary or Alberta Children’s Hospital, to tourists looking for a different area of the city to explore, the Alt Hotel is a convenient and valuable destination for many. We are proud to be extending our diverse offerings to the city with the exciting addition of the Alt Hotel.”

ALT HOTEL GUESTS CAN ACCESS THE MANY AMENITIES AND GREENSPACE IN THE AREA LIKE THE THREEACRE CENTRAL COMMONS PARK AS WELL AS QUICK ACCESS TO THE ALBERTA ROCKY MOUNTAINS AND DOWNTOWN CALGARY.

University District Plans for More Than 1.5 Million Square Feet of Customizable Commercial Office Space for Lease

University District is offering fully-customizable office spaces in Calgary’s growing northwest neighbourhood. The community has planned more than 1.5 million square feet of commercial office space in the first phase of purpose-built commercial offerings. Currently, there are limited leasing opportunities in Central Block, located above Retail Main Street and overlooking Central Commons Park, a three-acre oasis often activated with events and activities as the heart of the community.

In addition to already established office tenants, three new businesses have recently confirmed they will be joining University District: Foothills Primary Care, Omega 365 and Aspire Medical Group (Aspire Medical).

Foothills Primary Care is now open in Block 23 and is a locally owned and operated family medicine clinic. Both Omega 365 and Aspire Medical are anticipated to open in fall 2023 and will be located in the coveted Central Block.

Aspire Medical will offer healthcare services with specialty trained physicians enhancing the medical field. Omega 365 is a software company that caters to clients in the oil, gas, energy, renewables, mining, utilities, healthcare and infrastructure sectors throughout Canada, providing both new implementation and ongoing project support for their project management tools.

Customizable office spaces allow for a diversity of offerings. These new additions will enhance living in University District, providing convenient options for both residents and surrounding communities.

Says Dr. Zabal, a specialist in care of the elderly, “We are very excited to move into our new space in University District, offering a full scope family practice, specialized geriatrics care, weight management and women’s health to our patients in the NW and beyond.”

The convenient neighbourhood of University District offers future tenants the perfect work-life balance with several amenities and easy access to major roadways such as Shaganappi Trail, 16th Avenue and Memorial Drive.

University District is home to several essential services such as a grocery store and pharmacy, restaurants and many other retail options and is minutes away from the Foothills Medical Centre, Alberta Children’s Hospital and the University of Calgary.

Office space is available for lease in Central Block, situated above the busy Retail Main Street in University District.

Says Kenneth Steinsvik, general manager of Omega 365, “The process of moving into our new office has been seamless in collaboration with the team at University District. We’re customizing our new office to perfectly fit the needs of our team in this community.”

Says Andrew Eddy of Foothills Primary Care, “We will be offering traditional family-based medicine and continuity of care to our patient population in our new home in University District. We’re a locally owned and operated family medicine clinic and we’re excited to serve the northwest with a new and improved space.”

Office space in University District is completely customizable and can be designed in partnership with University District to perfectly fit the needs of any leasing business.

Says Gregg Callander, interim president and CEO for University of Calgary Properties Group, “As a destination to live, work and play, University District is pleased to announce Omega 365, Foothills Primary Care and Aspire Medical Group as valued office tenants joining the community. We’ve seen tremendous activity since Retail Main Street launched in 2020 with a growing list of more than 30 retail shops, restaurants and services and look forward to welcoming more as the community continues to develop.”

Many businesses have opened office space in University District in recent months and are currently operating in their new space. Clara Optometry, Cloudbreak and Staples Studio coworking space have all opened their doors in University District and are making use of their fully customized offices.

Businesses, clinics and professional services are eager to call Calgary’s best-selling urban neighbourhood home

THE HEMISPHERE DIFFERENCE

Independent Wealth Management in Calgary

AtHemisphere Capital Management Inc.,we recognizethat investment management goesbeyond simplymanaging financialassets. Itisabout empowering youtoachieve financial freedomatevery stageofyourlife. Whateverthat maybe.

Suite 603, 734 7th Avenue SW Calgary, Alberta, Canada, T2P 3P8

Phone: 403-205-3533

Toll free: 800-471-7853

Email: info@hemisphere.ca

Web: www.hemisphere.ca

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Above: Stephan Aronitz, Dylan Assen, Skyelar Siwak and Jim Aronitz. Photo by Rebecca Hardcastle

FROM TRANSACTIONS TO CONNECTIONS

THE FAMILY-FOCUSED APPROACH TO CLIENT APPRECIATION

BY ERLYNN GOCOCO

In any industry, from financial planning to real estate to legal and more, fostering meaningful client relationships goes beyond delivering top-notch services or products. It is about creating connections, making clients feel valued and showing them that they are more than just a transaction.

Family-friendly events are a strategic approach to building and strengthening client relationships while allowing a company or individual to connect on a more personal level. It is a unique opportunity to learn more about clients’ lives outside of work and understand their values and priorities. This can go a long way in deepening the client-professional relationship.

These types of events also provide a more natural way to meet other family members. Conversations are more organic allowing for a more genuine bond that goes beyond the office walls.

Tricia Leadbeater is a portfolio manager, investment advisor at Richardson Wealth. Though she has hosted traditional client events in the past, she aims to do more inclusive family events to enrich the client experience and make the connection for a potentially long-term relationship with the entire family.

“I view my business from the lens of developing very longterm, personal and multi-generational relationships. I have

worked with many of my clients and their families for years and in some cases over two decades. Events that are of interest for a family allow us to get to know each other better and for me to show my appreciation for the relationship.”

She adds, “I will usually host events that touch on leading a good life and connect to the ‘why’ of their investment goals: connecting to the community, learning about healthy living, ideas on how to be a philanthropist are some examples. I think they benefit the company by showcasing our company values and culture in a tangible manner.”

Some of the family-friendly events that Leadbeater has hosted in recent years include being a speaker on financial investment topics such as family values and how to think

about wills and passing on family values to the next generation, hosting a film festival event that touched on aging and dementia and inspiring treatments, theatre nights and curated museum tours and receptions.

For Leadbeater, these types of events are a way to stay connected and engaged with her clients. “I enjoy hosting events that enrich life in general and allow all to appreciate our city via an introduction to experiences they may not otherwise know about. It is also a way for people to have fun and get to know each other and meet new people.”

Clients want to work with professionals who not only deliver what they promise but also show that they care about their overall success and happiness. Hosting family events is a sensible way to demonstrate this care. It communicates an investment in their long-term satisfaction, not just short-term gains.

Calgary-based realtor Catherine Chow goes above and beyond for her clients. While many realtors focus solely on buying and selling properties, Chow takes it a step further by hosting family-focused client events like bowling night, cooking classes and more. For her, it is a way to express her gratitude and let her clients know just how much they mean to her.

“Real estate transactions are often deeply personal. I always look for opportunities to connect with my clients with the aim of fostering stronger relationships beyond the professional realm.”

TOP: TRICIA LEADBEATER, PORTFOLIO MANAGER, INVESTMENT ADVISOR, RICHARDSON WEALTH

BOTTOM: CATHERINE CHOW, REALTOR, CIR REALTY.

“I ENJOY HOSTING EVENTS THAT ENRICH LIFE IN GENERAL AND ALLOW ALL TO APPRECIATE OUR CITY VIA AN INTRODUCTION TO EXPERIENCES THEY MAY NOT OTHERWISE KNOW ABOUT. IT IS ALSO A WAY FOR PEOPLE TO HAVE FUN AND GET TO KNOW EACH OTHER AND MEET NEW PEOPLE,” SAYS LEADBEATER.

Family events allow Chow to meet her clients’ family members in a casual and natural setting. Instead of asking for introductions, these events facilitate organic interactions, helping her understand her clients’ lives and priorities better.

“These gatherings allow me to add value beyond real estate while giving me the opportunity to showcase my personality and interests outside of the office. It also allows people and their families to do things and go places they normally may not have the opportunity to do or to go to.”

While client events are often intimate gatherings with opportunities to connect, Chow makes it clear that they are not platforms for sales pitches or business asks. The primary purpose is to demonstrate the benefits of being a client and building genuine relationships. They also cultivate loyalty, which contributes to client retention.

“When they think about real estate, I want my name to naturally come to the forefront.”

Litco Law CEO Todd Litwiniuk says personalized familyfocused client events and interactions are important for the firm. “As a company that has been family-owned and operated since 1976, we have always had a focus on family. Up until recently we haven’t done a lot of specific largescale events for this purpose because those interactions are already happening on a one-to-one basis. We incorporate it daily because it springs naturally from the relationships between our team members and clients.”

He adds, “We really listen and get to know our clients and what’s important to them. Once we get to know them, we can tailor our event and community involvement from there, and it’s more personal.”

Managing director of MK Consulting Inc., Morgan Scott says, “Event planners can play a pivotal role in executing successful family-focused client events. They bring expertise in orchestrating every aspect of the event, from concept to implementation, ensuring that the event aligns with the company’s objectives and client preferences. At MK Consulting Inc., we work closely with companies to understand their brand identity and the specific goals of the event, tailoring the experience to resonate with both clients and their families.”

She explains that event planners do all the planning, which allows companies or individuals to focus on what is important: the client. “Event planners focus on the finer details, creating

an atmosphere that fosters meaningful interactions and connections between clients and the company. Their creativity and attention to detail contribute to crafting memorable moments that solidify client relationships and reflect positively on the company’s commitment to client satisfaction and engagement.”

“Family-focused client events create a platform for networking, sharing experiences and generating positive memories, which can enhance client retention and encourage referrals. Ultimately, they help companies establish a positive emotional bond with their clients, leading to long-term partnerships and increased brand advocacy,” says Scott.

HOT-HOT-HOT MARKET CALGARY’S

STAMPEDING TO SNAP UP YYC REAL ESTATE

BY PARKER GRANT

While location-location is a key factor in real estate, for the Calgary real estate market, the 2023 buzzwords are hot-hot-hot.

Of course, there is much background and analysis to digest, but the Calgary Real Estate Board’s late-summer stats and numbers show:

• The benchmark single-family home in Calgary increased by 6.8 per cent year-over-year to $629,800 in July 2023. In comparison, provincially, the benchmark single-family home sale price in Alberta was up 2.7 per cent from a year ago, to $546,200.

• Calgary’s benchmark townhouse house price increased by 11.6 per cent year-over-year to $431,900 in July 2023. In comparison, provincially, the row/townhouse sale price in Alberta is up by 8.5 per cent from a year ago, to $371,200.

• The benchmark condo price in Calgary increased by 10.1 per cent year-over-year to $313,500 in July 2023. In comparison, provincially, the benchmark condo sale price in Alberta is also up by 8.9 per cent from a year ago, to $269,500.

• Calgary’s benchmark composite home price increased by 5.6 per cent year-over-year to $551,300 in July 2023. In comparison, provincially, the average home sale price in Alberta was up by 2.2 per cent from a year ago, to $483,300.

CREB’s tracking confirms the Calgary hot market, and chief economist Ann-Marie Lurie calls the mid-summer stats the strongest ever reported by CREB and an indisputably record-setting pace.

Calgary is an exception! The real estate story across the country for most of 2023 has been a decrease in sales, primarily due to the impact of higher mortgage rates. The Calgary market is bucking the national cooling trend.

Recent numbers indicate that a slight tempering of the national cool down. But as of mid-year, nationwide home sales were up just 1.4 per cent, year-over-year, compared with Calgary’s 11 per cent hike.

Despite downer predictions about spiked mortgage rates also cooling the Calgary market, area realtors and analysts agree that, while the market may turn lukewarm by late fall or the end of the year, there are no signs of an imminent Calgary slow down.

Area realtors and buyers and sellers are riding the crest of Calgary’s hot market wave. Because Calgary’s population is booming, new housing is in short supply, and prices are cheaper than other big Canadian markets, buyers are stampeding to snap up YYC real estate.

Christian Twomey, CREB chair and popular realtor with RE/MAX Landan Real Estate, has much Calgary expertise and is upbeat but cautious about setting the bar so high. “It is hard to gauge market ‘hotness,’ but the consensus among our more experienced members is that, although it is definitely a positive, it can also be a challenging market rating. For sure it’s up there as one of the most challenging Calgary markets we have seen.

“I don’t think anyone would have predicted such record sales levels, particularly while having such record low inventory levels.”

Despite the exciting positives for the Calgary economy, and especially for sellers, some real estate analysts

caution about a possible downside of the hot market. Affordability.

With continued migration swelling the Calgary population combined with Calgary’s low housing inventory, the lack of affordability, already a serious problem in markets like Vancouver and Toronto, affordability could well become a Calgary problem.

“There are several reasons why, so far, Calgary is such a desirable place to live and buy real estate,” says the upbeat and respected Corinne Lyall, owner/broker with Calgary’s Royal LePage Benchmark. “We were recovering from the recession while other major cities had increasing home prices from already strong markets. Because the recession negatively impacted our prices, it led us into an environment of affordability relative to other cities like Toronto, Vancouver, Ottawa and Montreal.”

The benchmark price numbers also highlight a key positive about the Calgary market. Comparative pricing – comparing Calgary to other cities. It is one reason why, even as Canadian interest rates increase, the Calgary cost difference remains stark.

“Another important hot market factor is the forecast for Calgary’s positive GDP for several years. We are an area where companies can thrive and an area where people will move for employment,” Lyall says.

Analysts suggest that Calgary’s housing market may be outperforming the rest of the country because, unlike Toronto and Vancouver whose overheated housing markets have been ongoing topics of national conversation for several years, Calgary is finally just coming out of a years-long slump that actually began – not with COVID years or spiked mortgage rates – but with the oil price crash of 2015.

Caution! Calgary real estate experts agree that, despite complex and volatile factors like the economy, mortgage rates, affordability and consumer confidence, Calgary’s real estate market, (hot or not so hot), like most real estate markets, is ultimately driven by supply and demand.

An important Calgary dilemma is inadequate housing starts, particularly not keeping pace with population growth and the number of people migrating to Calgary. Although the Alberta government data tracks record interprovincial

“WE ARE AN AREA WHERE COMPANIES CAN THRIVE AND AN AREA WHERE PEOPLE WILL MOVE FOR EMPLOYMENT,” LYALL SAYS.

migration, the low level of housing starts contributes to an ongoing lack of supply in the Calgary market.

As more people move to the city, demand for housing goes up. Conventional real estate logic cautions that increased demand, combined with a lack of supply, inevitably leads to higher prices. It is a key reason why Calgary prices keep rising, despite negatives like higher interest rates.

Regardless, area realtors whisper that if it wasn’t for record high Canadian mortgage rates, Calgary’s hot market would be even hotter.

The impact has also spilled over into to a contentious Calgary rental situation. A consequence of high interest rates, together with the population increase, has triggered a significant lack of available Calgary rentals. Some are even calling Calgary’s spike prices a “rent inflation” situation.

Recent data from Rentals.ca tracks that the price of a two-bedroom unit in Calgary was up 17 per cent, year over year, to more than $2,100 a month. By comparison, the monthly mortgage payment for the benchmark price of a condo at $305,900, with a five per cent down payment and a 7.2 per cent interest rate, is about $2,000 a month.

How long can Calgary’s hot market last? “Although no one has a crystal ball,” Corinne Lyall points

out, “we are predicted to have a strong economy in Alberta for several years.

“The Bank is Canada predicts that by 2026 nearly all borrowers will have to renew their mortgages. So, the real estate market should become more balanced when more inventory comes to market in a couple of years. But buyers may still want to attempt buying now, as prices could still go up.”

AS MORE PEOPLE MOVE TO THE CITY, DEMAND FOR HOUSING GOES UP. CONVENTIONAL REAL ESTATE LOGIC CAUTIONS THAT INCREASED DEMAND, COMBINED WITH A LACK OF SUPPLY, INEVITABLY LEADS TO HIGHER PRICES. IT IS A KEY REASON WHY CALGARY PRICES KEEP RISING,

INTEREST RATES.

THE SECOND ANNUAL DIGITAL COMMERCE CALGARY FINTECH AWARD

CELEBRATING FINTECH COMPANIES THAT DEMONSTRATE CLEAR INNOVATION AND BUILD THE FINANCIAL TECHNOLOGY LANDSCAPE NATIONALLY

BY MELANIE DARBYSHIRE

On October 4, the second annual Digital Commerce Calgary Fintech Award ceremony will take place at Platform Calgary. Launched last year in partnership between Platform Calgary and Digital Commerce Bank, the Award helps growing fintech startups – companies that incorporate technologies that automate, enhance and optimize how we transact and exchange value – elevate their business, make connection and scale their operations.

Jeff Smith, president and CEO of founding sponsor Digital Commerce Bank explains the purpose of the Award: “The Digital Commerce Calgary Fintech Award embodies our belief in nurturing fintech disruptors. It’s not only about recognizing innovation, but also about providing a springboard for growth through mentorship and workshops. Beyond financial backing, this award empowers entrepreneurs with knowledge and resources, catalyzing their future impact. As the Canadian fintech industry matures, we’re proud to contribute to its evolution through initiatives like this.”

An initial batch of 150 applications were received from startups across Canada. A Top 25 cohort was selected in July and participated in an intensive six-week course of workshops, coaching and mentorship, to build connections with investors and industry experts to drive growth for their business.

In August, the Top 12 startups were announced. They have a focus on everything from revolutionizing the housing and renovation industry to streamlining credit applications and optimizing the capital raising process. The Top 3 startups will be announced at the award ceremony and will share the $300,000+ cash award.

“We have been thrilled to support Digital Commerce Bank’s dedication to grow Calgary as a fintech hub,” says Terry Rock, president and CEO at Platform Calgary. “Calgary’s economy has been built on local business leaders reinvesting in the community. Given our track record of economic success, Calgary has been a magnet for corporate headquarters and strategic investments for decades.”

“Applications were open to companies across the country to showcase Canada’s position as a global hub for fintech startups,” Rock continues. “The results in this space are already paying dividends in the local economy, and we are grateful to all of the support from industry, founders and all of the other community partners that have made this possible.”

Bidmii

Bidmii is a renovation marketplace that guarantees payment security for each party. Bidmii bridges the gap between homeowners and reliable contractors by offering a streamlined solution: homeowners can describe their projects and contractors can bid on them, with Bidmii holding the funds in trust.

“Bidmii began as a concept in May 2020,” says Jon Christensen, founder and CEO. “We worked diligently to develop our ideas and our Beta version went live in January 2021. After careful refinement and consideration of user feedback, we officially launched Bidmii in June 2021.”

A dedicated team of six employees, as well as several contracted individuals, contribute to the growth and success of the platform.

“As Bidmii continues to grow and make strides in the fintech landscape, the support and recognition from esteemed organizations like Platform Calgary, Digital Commerce Bank and the Digital Commerce Calgary Fintech Award play a pivotal role in our success.”

Blossom Social Inc.

Blossom is a social app for investors with over 30,000 Canadians sharing their portfolios, trades and investing ideas in an inclusive and welcoming community. Blossom is working to become Canada’s first social brokerage, combining the app’s social features with a mobile-first investing platform.

“Investing is overwhelming,” says Maxwell Nicholson, founder and CEO. “It’s no surprise over 85 per cent of Canadians consider themselves financially illiterate when it comes to stocks and investing. Blossom is here to change that, with a social platform for investors from beginners to experts. We’ve created a community where Canadians can learn and grow their investing knowledge, supported by Duolingo-style investing education and powerful tools to analyze their portfolio.”

Blossom has been operating since May 2021 and has 12 full-time employees and two parttime contractors.

Credit App Technologies Inc.

Credit App is a B2B software platform that powers automotive finance. Its cloud based platform connects automotive dealerships and lenders across North America to power online and in-store financing for buyers.

“We are building a credit application platform to challenge the monopolistic industry that connects Canada’s 4,000 automotive dealerships with over 60 lenders and 2.4 million finance consumers annually,” explains Evan Ferguson, founder and CEO. “Our modern infrastructure drives operational efficiencies and powers omni-channel financing for Canada’s largest lenders.”

“We are thrilled to be recognized as a finalist in a competitive field. We are humbled by the caliber of the companies being founded in Calgary. The Digital Commerce Calgary Fintech Award is bringing out the best businesses, with a meaningful prize, that will have a lasting impact on the Calgary start-up ecosystem.”

JON CHRISTENSEN

MAXWELL NICHOLSON

EVAN FERGUSON

DealPoint

DealPoint provides a solution to the complex process of raising and managing private capital financings. It allows companies, venture funds, angel networks, investment dealers and securities lawyers to digitize investor onboarding and investment execution, bringing efficiency to the complicated, paper-based process of fund raising.

“DealPoint’s user-friendly online onboarding workflow makes the investment process simple,” explains Sandi Gilbert, co-founder. “Investors access deal flow on the go, executing investments from anywhere, at any time, without touching paper and stakeholders monitor the status of the capital raise, approve and close efficiently.”

“We have quietly been building a great company here in Calgary and we feel like this is our “coming out” party. Having just surpassed $550 million in transactions we are feeling the momentum, so it is fantastic to get recognition in our hometown.”

Elev

Elev is solving the student housing crisis happening across Canada and around the world by streamlining the off-campus living experience for students and landlords. Students can book a viewing, sign their lease and pay their rent through the platform. From screening potential candidates to managing rent payments, landlords can rely on Elev to host the best tenants.

“The support from organizations such as Platform Calgary, Digital Commerce Bank and the Digital Commerce Calgary Fintech Award not only validates our vision to build the student living ecosystem of tomorrow, but it also empowers us to efficiently scale and expedite our business growth,” says Jean Bruce Koua, co-founder and COO. “This amplifies our standing within the fintech landscape, while significantly benefiting both students and landlords impacted by this housing crisis.”

Expedier

Expedier is the first Black-lead BIPOC focused digital bank in Canada. It caters to the over eight million underbanked/underserved Canadian BIPOC community grappling with foreign banking systems, hindering their path to a better life.

“Our digital banking solution provides tailored services, intentionally designed to address the unique needs and pain-points of the Canadian BIPOC community,” says Kingsley Madu, founder and CEO. “Our product or service not only addresses critical challenges but also prioritizes creating a positive community impact. In addressing the needs of underbanked immigrants struggling with foreign banking systems, we not only enhance financial access but also contribute to their overall wellbeing, supporting their journey towards a better and improved life.”

“Canada possesses the potential to birth the next unicorn in the banking industry. Canada’s richness in diversify uniquely positions it to foster solutions that resonate globally while being developed and nurtured locally.”

SANDI GILBERT

JEAN BRUCE KOUA

KINGSLEY MADU

LenderBidding

LenderBidding is Canada’s only mortgage auction platform, allowing 53 of the largest, licensed private lenders across Canada to bid on client’s mortgages. This encourages competition, ensuring optimal rates for borrowers and expanded deal access for lenders.

“LenderBidding is disrupting the $74 billion private mortgage market in Canada,” says Jason Geall, CEO and co-founder. “Private mortgages have exploded in the last three years, as it becomes harder and harder for Canadians to qualify for traditional bank mortgages. We also offer a B2B service where we proudly partner with credit union rejected customers to help get them back and approved with the credit union after a temporary private mortgage to fix their financial issues.”

LenderBidding has over $16 billion in available capital via its lenders on the platform. Customers enjoy lower rates, lower fees and the confidence in knowing they are borrowing from reputable lenders.

Padder

Padder is on a mission to revolutionize the rental experience. The platform allows landlords to manage and grow their real estate portfolios while tenants build their credit; Padder is making renting better for everyone. “We use technology to make renting more achievable and rewarding for everyone involved,” explains Clare Lam, co-founder. “We have pledged one per cent of all revenues towards fighting the housing crisis here in Canada.”

In operation for 12 months and with nine employees, Lam is grateful for the support of the tech community in Canada.

“Platform Calgary, DC Bank and the Digital Commerce Calgary Fintech Awards give us the opportunity to connect with other founders, domain experts and resources that allow us to build groundbreaking technology,” she says. “We are lucky to be building Padder in Canada. We feel like it breeds an underdog attitude, leading Canada to become a global leader in technology.”

Periculum

Periculum is a Calgary-based, African-focused artificial intelligence and machine learning company that builds data analytic software solutions to help African organizations make better decisions.

“We are solving access to credit for immigrants and newcomers to Canada by augmenting banks’ current credit assessment processes with our AI and ML data analytic software,” explains Michael Collins, founder and CEO. “This will help them expand their services to people with and without credit histories.”

Periculum’s software solutions empower financial institutions to assess the creditworthiness of immigrants, newcomers and international students. This is good for the banks as they can now tap into a growing under-tapped socioeconomic class. This is good for immigrants, newcomers and international students as it allows them to integrate seamlessly into their new home.

“And it is good for the country as it gets these newcomers participating economically as they unleash their immense spending power,” Collins adds.

JASON GEALL

CLARE LAM

MICHAEL COLLINS

Propra

Propra is revolutionizing the property management industry by building an autonomous, all-in-one property management software. The technology can take care of administrative tasks and financials freeing property owners to focus on the growth of their business.

“The software goes beyond streamlining and simplifying tasks,” explains Al-Karim Khimji, CEO and co-founder. “As a property management software, we aim to leverage the platform as a mechanism to create a positive impact on the communities that we serve. We see an opportunity to engage with affordable housing organizations to make the work easier, introducing simple credit building mechanisms, learning about how we can support easier ESG reporting, and generally contributing to the creation of safe spaces for people to live and thrive.”

“Calgary is a hub of amazing start up activity,” Khimji continues. “As long-time Calgarians, it’s exciting to contribute to the city’s growth by nurturing home-grown innovation.”

Quickly Technologies Inc.

Quickly is an “Earned Revenue Access” technology that lets small and medium businesses take control of their working capital by solving credit terms and getting them paid for their verified invoices within one business day.

“Quickly is revolutionizing business payment terms with its advanced early payment software tailored for supply chains, empowering North American SMBs to receive payments on their own terms,” says Kyle Friedman, founder and CEO. “Benefitting from Calgary’s wealth of top-tier talent and robust banking resources, our small yet agile team has achieved remarkable feats and forged a pivotal partnership with ATB, underscoring our capacity for impactful innovation.”

The company has been in operation for over two years, and has a dedicated team of six skilled professionals.

Yield Exchange

Yield Exchange addresses inefficiencies in the wholesale GIC market that cause significant delays in the treasury management process. The platform revolutionizes wholesale deposits with a frictionless GIC marketplace, providing speed, transparency and access to competitive rates.

With over 20 Canadian financial institutions on the platform, Yield Exchange has facilitated over $250 million in posted GIC requests.

“Building a company that creates positive community impact is at the core of our mission,” says Yvette Wu, co-founder and CEO. “Yield Exchange works with a variety of depositors including municipalities, non-profit organizations and First Nations groups, helping them make the most informed decision so that they can truly maximize their ROI without additional risk.” This is achieved by providing equal access to competitive rates and investment opportunities.

AL-KARIM KHIMJI

KYLE FRIEDMAN

YVETTE WU

MORTGAGE RATES VS. REAL ESTATE

BY JOHN HARDY

While the direct impact of spike mortgage rates on Calgary real estate can get complicated and a bit tricky, some analysts and experts suggest that it is a matter of simple math and consumer confidence.

“Each rate hike has the effect of reducing borrowing capacity and how much potential borrowers can afford to borrow,” explains CMHC’s senior specialist and market analyst, Taylor Pardy. “There are various factors in play. It can depend on income, size of down payment already saved up and pricing in the market, rate hikes can have the effect of potentially delaying purchases in the short-run for existing and new homes and can cause some people to remain in the rental market longer.”

In the tricky math of real estate, house prices and affordability combine with mortgage rates as important components.

According to Victoria Girardo, senior vice president of Real Estate Lending with Canada Western Bank (CWB), “Mortgage rates can be affected by economic factors like housing market conditions or general economic growth or decline, or the bond market. Today, a major factor influencing mortgage rates is the Bank of Canada’s monetary policy. With the Bank of Canada’s rapid succession of rate increases, most notably the 25bps increase announced mid-July, the impact on mortgage rates and in turn housing affordability has been significant.”

In mid-July, The Bank of Canada raised interest rates, hitting the economy with even higher borrowing costs as new projections suggest it will take longer for inflation to fall back to two per cent. The central bank hiked its key interest

rate by a quarter of a percentage point, bringing it to five per cent, the highest it has been since 2001.

CMHC stats show that many homebuyers took out mortgages in 2020 or 2021 with historically low interest rates. The contentious Canadian ‘stress test’ meant that those homebuyers still had to qualify at a rate of 5.25 per cent or their contractually agreed rate, plus two percentage points, whichever was higher. After the recent rate hikes, those seeking to either get a new mortgage or switch lenders could be stress tested at a rate of more than eight per cent! Realtors and lending experts caution about a crunch leaving many existing homebuyers with few options, other than to renew with their current lender, where they will be able to avoid the stress test.

“The Bank has undertaken these hikes to curb inflation, bringing it more in line with their target rate of two per cent. Interestingly, mortgage rates are a key contributor to the headline Consumer Price Index increase, together with food prices,” Girardo notes, and adds the positivity that through the various spikes in interest rates, the Calgary housing market has shown signs of resilience, bolstered by strong employment, immigration and generally affordable housing. “Housing prices have increased on a year-over-year basis. In general, sales have increased as well. And inventory remains low. These are all indicators of continued strong demand. Rising mortgage rates have deteriorated purchasing power, and Calgary’s housing market has shown the trend of rising demand in more affordable asset classes, which helps to keep pricing for these options – like semi-detached homes and townhomes – quite resilient.

THE RESILIENT CALGARY MARKET

Founded in 2009 by Allison Grafton, Rockwood Custom Homes disrupted the Calgary luxury residential market with an unwavering focus on financial transparency and an innovative custom home process, integrating architecture, interior design, project management, and construction in a seamless all-Rockwood experience. Since 2009, Rockwood has had the pleasure of working with hundreds of incredible clients helping them envision, design, build, and even fully furnish, their best-in-class custom homes.

In addition to over 50 prestigious awards and recognitions throughout its history, Rockwood is a four-time consecutive winner of Canada’s Best Managed Companies, setting unprecedented standards within the construction industry and Canadian small business sphere alike, stemming from its innovative and highly integrated business model.

Rockwood’s unrivaled customer satisfaction and product delivery is a direct result of meticulous attention to financial stewardship, personalized client experience, and unmatched construction and interior design quality.

Calgary Canmore Okanagan Invermere

EXCLUSIVE COMMUNITIES

Outside of single-family custom homes, Rockwood Custom Homes is visioning and building multi-home communities in Calgary, Canmore and the Okanagan. Rockwood’s exclusive communities of living, where our experienced team provides extensive community vision, design and oversight.

Rockwood’s exclusive communities are legacy projects which transform the landscape of the neighbourhoods in which they exist, bringing long-term value with timeless architecture and seamless execution to an exceptional streetscape.

We uphold the highest level of building standards, operating with full integrity, transparency, and delivering best-in-class quality, design and craftsmanship, which is unmatched in the industry. We build timeless and exceptional homes. We build to last.

- Allison Grafton, President

“Today’s active buyers are having to make trade offs in the type, size, location of homes compared to a year or 18 months ago, to qualify for enough mortgage to make the purchase feasible,” she says.

For more than one year, economists and other number-crunchers have valiantly tried to explain that Canada’s central bank hikes and the spiked mortgage rates it caused were a concerted effort to cool a dangerously hot real estate market. Girardo cites this past January, when the Bank signalled a sudden rate hold, buyers came back into the market. It didn’t last. “With this new batch of rate increases adding to mortgage and consumer debt costs, as well as unemployment creeping up, purchasing power and discretionary income continues to erode and spending is slowing.”

Dan Eisner, founder and CEO of True North Mortgage, points out that “In the past year, the Bank of Canada felt it had to step up to the plate to hit out several rate increases and swing harder against a resilient economy. The mortgage rate hikes have put budget pressure on those with variable rate mortgages, or mortgages coming up for renewal from much lower rates.”

National stats show that approximately half of all mortgages in Canada are set to renew in 2025 or 2026, due in part to the real estate frenzy that transpired during the pandemic.

“Higher rates also mean it is tougher to qualify to buy a home in Calgary,” he says. “Buyers need to show that they can handle payments at a rate that’s 2+ per cent more than their contract rate to get the mortgage. For example, on a mortgage of $500,000 with a five-year fixed mortgage rate of 5.0 per cent, a 0.5 per cent rate increase can add about $150 to a federal qualifying stress-test payment.”

The stability – and relative affordability – of Calgary real estate makes the market different from other major Canadian markets.

Tracking the impact of mortgage rate spikes and crunching the numbers show that, for various reasons, the Calgary real estate market continues stronger than some other Canadian markets. Girardo says that Alberta, and specifically Calgary, is faring better than most provinces. “Facing softer commodity prices and impacts from wildfires, GDP growth will certainly be impacted but is expected to outpace the rest of the country.”

Dan Eisner also mentions a Calgary silver lining about spiked rates. “Calgary has been a national housing hot spot since about February, mainly due to job and home seekers from other provinces or countries attracted to our higher-value market that can help them better qualify for and afford a mortgage.

So, the recently higher rates have not made much of a dent on the buyer’s side, with many in Calgary still going strong. “The knock-on effects of higher rates have pushed more Canadian buyers to Calgary and away from higher priced markets, setting a mid-summer Calgary home sales record in June, up 11 per cent from the same time last year. For first-time buyers already here, if they look at average home prices in Vancouver or Toronto, they will know that the average Calgary price is lower by at least $450,000 (depending on the type of residence).”

For the balance of the year, and into 2024, even the most plugged-in experts rely on educated guesswork about mortgage rates, a cool down and the Calgary real estate market’s reaction and consumer jitters.

CWB’s Victoria Girardo points out that confidence in any upcoming rate decisions is varied. “Most agree that the Bank of Canada is leaving the door open to potential rate hikes in the fall, should inflation numbers signal that further action is needed to curb inflation.”

Dan Eisner explains that, “Consumer confidence in the mortgage industry started to recover with the central bank’s pause but has taken a bit of a beating again since the rate hikes resumed. That is unsurprising, as many were looking for rates to start coming down, not the other way around. We will likely see national housing activity erode through the last half of 2023, as the rate hikes continue to work their way down to home buying decisions.”

ABOVE: DAN EISNER, FOUNDER AND CEO OF TRUE NORTH MORTGAGE.

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A TALE OF TWO MARKETS

COMMERCIAL AND RESIDENTIAL REAL ESTATE

BY JOHN HARDY

With some unique positives, negatives and quirks, Calgary’s commercial and residential real estate situation continues to be a tale of two parallel but distinctly different markets. One is hot. The other is lukewarm, encouraging and getting hotter.

While Calgary’s residential real estate market continues hot, it is also reasonable, especially compared to other major Canadian areas. Area realtors and trends agree – and caution – that mortgage rates, benchmark prices, affordability and listings vs. sales are key factors in the dynamic that is Calgary real estate.

Home values have been rising since the start of the year. While there are mixed signals about detached homes, Calgary’s condo apartment market continues to be red hot. According to the Calgary Real Estate Board (CREB), Calgary real estate had its busiest July ever and benchmark prices increased for a seventh consecutive month. Year-over-year sales surged by 18 per cent.

“Continued migration to the province, along with our relative affordability, has supported the stronger demand for housing, despite higher lending rates,” says CREB chief economist Ann-Marie Lurie. “We continue to struggle with supply in the resale, new home and rental markets.”

“The influx of migration to the province is something we were seeing last year,” says respected Calgary realtor Christian Twomey, with RE/MAX Landan Real Estate and

CREB chair. “Calgary also had record-breaking sales activity last year, which is still strong today.”

The impact of migration is significant. A City report estimates an influx of 40,600 new residents – a three per cent Calgary population increase, since last April. The

“CALGARY ALSO HAD RECORDBREAKING SALES ACTIVITY LAST YEAR, WHICH IS STILL STRONG TODAY,” SAYS TWOMEY.

ABOVE: CHRISTIAN TWOMEY, RE/MAX LANDAN REAL ESTATE AND CREB CHAIR.

migration boost is projected to continue, with a forecast of 110,000 more new Calgarians by 2027.

Twomey also cautions that prices are a key factor. “Housing affordability is a critical issue, and Calgary is not immune. While we are far more affordable than most other major urban cities, we need more supply across all product types.”

Housing experts underscore a significant factor: budgets! Spikes in mortgage rates are causing some prospective homebuyers to wait for drops in rates, although experts suggest that they will likely remain high until next year. Calgary house prices are exploring uncharted territory.

Because 2022 was such a hot, post-COVID recovery year, Jared Chamberlain, plugged-in REALTOR® and team lead of the Chamberlain Group notes that “the Calgary market has seen its first regular cycle since 2020, meaning the market usually slows in August, picks up again in early-mid September and most likely runs all the way through to December.

“This year’s Q1 and Q2 numbers were way down, compared to 2022. But last year was such an anomaly in the sheer number of sales, it may be a stilted comparison. Calgary stats show that, unlike many other cities in Canada which are feeling the slowdown, Calgary is one of the few markets that are not feeling it in the same way.

“People from other provinces are still hunting for affordability and Calgary is, if not near the top of their list, the city they are looking at,” he says.

Twomey cautions about the misleading interpretation of national and province-wide trends. “Real estate is local! It is important to consider how things are operating by region or by community. Even here in Calgary, our market conditions are quite different from the conditions just a few hours north, like up in Edmonton.”

Calgary commercial real estate not only survived the unprecedented pandemic broadsides and disruptions, but is rebounding with various significant and subtle new normals.

The COVID scrambling and the supercharged work-byremote trends continue to redefine Calgary workplaces. And into Q3, the strategy and the focus of Calgary’s office, industrial and retail real estate is also re-jigged.

According to the most recent RE/MAX Commercial Real Estate Report, Calgary’s office market has made some headway in the first quarter of the year, with availability rates edging downward.

Two factors have contributed to the decline: the uptick in tech businesses and the repurposing of existing commercial to residential. Attracted to the value proposition of the Calgary commercial real estate market, a young workforce and incentives offered by the Alberta’s Investment and Growth Fund, tech companies have started moving into the downtown core.

Thanks in large part to government incentives to convert office space to residential, “repurposing” is a growing Calgary commercial real estate trend. The City ‘s goal is to convert up to six million sq. ft of office space to residential condo units. Ten buildings have been earmarked for repurposing, representing more than 1,200 new homes in the core. It also eliminates one million square feet of empty office space.

Retail space (downtown and in the ’burbs) is strong. Low vacancy rates reflect demand and the RE/MAX Report notes that Calgary’s shopping malls remain vibrant, such as Canadian Tire taking over many of the Bed, Bath and Beyond locations. “Particularly the downtown leasing market is having a busy year,” says the upbeat and knowledgeable Bill Falagaris, executive vice president, Office Leasing with Barclay Street Real Estate.

“The Class A sector is very strong with headlease rates increasing in buildings like Bow Valley Square, Ampersand Building (formerly Sun Life Plaza), Stephen Avenue Place and Calgary Place. The Class B market continues quiet,

ABOVE: JARED CHAMBERLAIN, REALTOR® AND TEAM LEAD OF THE CHAMBERLAIN GROUP.

compared with AA and A markets. And the Class C market are suffering.”

Up, down or stable, there is a cautionary consensus that Calgary’s commercial market can’t and won’t revert back to the golden boom years.

“Although the office market is stronger than it has been in the last several years, the downtown is unlikely to ever return as we knew it before the drop in energy prices and since the pandemic,” Jeff Robson, president and broker at JR Mercantile Commercial points out. “Retail, medical and hospitality are rebounding with new entrants to the market, especially from other provinces and the U.S., and there’s a greater confidence in Alberta’s economy.”

Calgary tenants and landlords are adjusting. “All tenants are looking for good value and landlords that are engaged in managing their real estate. Office tenants are looking for buildings that are rich with amenities to entice their workers back from the home office to the corporate office.

“Industrial tenants are, in many cases, scrambling for what little space there is. Retail tenants are looking for ways to generate more revenue from smaller footprints,” he says. “Restaurants are looking for more efficient ways to get more of their food to more of their customers by incorporating and accommodating delivery drivers with parking and separate entrances. Health and wellness tenants are looking to situate in more prominent locations with an abundance of parking.”

He explains “Calgary’s downtown has been slower to come back, but especially for retail and restaurants,

location is still crucial. If you are too far west in the plus 15, many of the office buildings have yet to rebound, and some may never be reoccupied.”

Bill Falagaris mentions that “remote work for employees is still a factor. While many people are coming back to the office, many Calgary companies still have the hybrid model of a three- or four-day work week. The needs and requirements of tenants is changing in the way tenants configure their office premises. There is a tendency for tenants to plan their office premises to accommodate ‘hotelling,’ for tenants to share work stations and desks.”

The trends and forecasts for Calgary commercial real estate project a continued increase in leasing activity for the rest of 2023 and, with increased business confidence in Calgary continuing, the future is positive for 2024.

Welcome Back to School

Looking forward to our most ambitious year yet!

At JA Southern Alberta, we're on a mission to make a difference in the lives of young people and this year we're setting our sights higher than ever before.

We believe that every young person deserves the opportunity to unleash their potential. That's why we are determined to deliver our financial literacy, entrepreneurship, and work readiness programs to 70,000 students across southern Alberta during the 2023-2024 school year.

This year’s impact goals:

70,000

3,000

Programs Students

31

School Boards

JA programs are designed to equip students with practical skills and knowledge that are directly applicable to their lives. They encourage financial empowerment, promote and build self-efficacy, and prepare students to make informed decisions about their future.

Keep an eye out for updates, events, and opportunities throughout the year as we strive to make 2023-2024 another landmark year for JA Southern Alberta.

Scan to learn more about our programs.

The better way to build.

When you choose to build with Shane Homes, you’re getting so much more than a quality constructed home. Along with our decades of experience, you’ll have a dedicated team helping you every step of the way and our love it or customize it philosophy to ensure you’re building your dream.

SUPPORT AEG.

SHANE HOMES IS PROUD TO

Founded in 2007, the Alberta Enterprise Group (AEG) came together with a bold vision – to improve Alberta’s living conditions and business environment, leading to prosperity for all Albertans. Throughout the years, AEG, as a collective and as individual members, has successfully promoted Alberta’s story on the global stage by effectively communicating the advantages of doing business in our province, providing valuable insights to the public and policy-makers on complex issues and driving tangible impact to meet the needs of the community. Members that join AEG gain a competitive edge along with connections and networking with influential decision-makers and stakeholders.

Its operations rely entirely on the support of members and sponsorships. AEG is not government funded. This allows the organization to remain objective, non-partisan and to focus on the activities that are key to its members’ success.

MANDATES AND MILESTONES

AEG harnesses the expertise of its members to tackle public policy challenges head-on. Through collaboration with policy experts and extensive member consultation, AEG provides invaluable advice that is heeded by our nation’s leaders. AEG is also at the forefront of spreading the Alberta

business story to influential decision-makers and government officials worldwide. Outreach missions to key locations like Washington, Ottawa and Switzerland bring the value of Alberta business to the global stage.

The organization considers its members to be its greatest asset.

Catherine Brownlee, president, says, “When AEG welcomes new members, they instantly become part of the growing community which is comprised of Alberta’s most connected business leaders, owners, operators, professionals and investors. Our robust community is committed to addressing challenging policies as a collective voice and providing systemic value to our members by supporting the larger business environment. Our core philosophy is that driving change requires a vast network of influencers, successful and proven decision-makers and a membership body representative of every major Alberta industry dedicated to the unique requirements for all Albertans.”

MEMBERSHIP EMBODIES COMMUNITY SPIRIT

Membership to the AEG community creates exceptional opportunities and direct access to the vast experiences shared by senior executives, politicians and entrepreneurs who are committed to sharing their unique wealth of knowledge, experiences and expertise to the assembly of members. The relationships within the organization have effectually shifted mindsets of other leaders and policy-makers around the globe, culminating in a brighter frontier for Alberta while casting an important spotlight on how every Canadian province warrants self-determined regard.

The AEG membership community is inclusive and welcoming. AEG spotlights members through podcasts and keynote speaker events in Calgary and Edmonton. Through these presentations, members share their unique challenges, their mandates and the successes of their industry or business with other members and the public, illustrating both the need and the effect of the community influence. These events have become extremely popular with members while providing opportunities to future investors, new members, politicians and citizens to witness and learn how they can initiate, participate in, and accelerate change. During these gatherings, which are frequently attended by provincial legislators, members converge to share ideas, establish timelines and increase opportunities to shift and shape initiatives in the areas of education, health, entrepreneurship and the province’s energy resources.

Catherine Brownlee, President, Alberta Enterprise Group

SHOWCASING ALBERTA TO THE WORLD

The keynote speaker series often spawns subsequent collaborations amongst members and their own extended network. Most recently, Premier Danielle Smith and several of her cabinet ministers presented from the AEG speakers’ podiums and heard members’ viewpoints on the state of Alberta’s enterprises and economy.

AEG’s trade missions stand out as one of the organization’s most notable achievements, which have occurred in numerous places including Texas, Washington, Nevada, Montreal, Switzerland and Quebec City. Positive and measurable results have impacted all AEG members who have participated in these events.

AEG TAKES ON BILL C-69, BILL C-235 AND THE ISSB SUSTAINABILITY FINANCIAL DISCLOSURES

AEG is committed to identifying government legislation, regulation and policy areas that could have an impact on Alberta’s businesses,

and advocate for change on behalf of members. Therefore, AEG has been very vocal and influential with regards to a multitude of federal bills and initiatives, most recently Bills C-69, C-235 and ISSB Sustainability Financial Disclosures, as well as C-11, C-18 and C-234.

Of particular concern are measures that increase the burden and costs of doing business, such as Bill C-69, Bill C-235 and the proposed Sustainability and Climate-related Financial Disclosure Standards of the Canadian Sustainability Standards Board (CSSB).

In October 2022, Brownlee addressed a parliamentary committee with a speech that laid out the specific concerns Alberta’s energy industry has with Bill C-235. Her speech highlighted areas where Alberta would be stifled by a blanket policy on carbon emissions and federal oversight, and identified some of the methods that the province and the oil and gas industry have already invested in. Her speech helped to catalyze Conservative opposition to the bill and delay its passage.

The Impact Assessment Act (“IAA”) is federal legislation that purports to give the federal

AEG Event March 2023. AEG Board Members Bruno Muller and Tim Shipton, AEG President Catherine Brownlee, Premier of Alberta Danielle Smith, and AEG Board Members Herve Faucher and Shane Wenzel.

government control over the assessment and approval of many large-scale resource and development projects that are already subject to comprehensive provincial regulation.

AEG has intervened in court proceedings involving a constitutional challenge to the IAA in

In AEG’s view, the IAA creates a serious risk of blurred jurisdictional lines, regulatory overlap and inefficiencies and unnecessary litigation and delay in relation to the assessment and approval of large-scale projects that are of profound importance to Alberta and Albertans. Therefore, AEG intervened in these proceedings to

AEG Event March 2023. Danielle Smith, Premier of Alberta speaking to AEG members.

a clear division of constitutional jurisdiction as it relates to the regulation of such projects. This will ensure that details and requirements of the projects can be reviewed and assessed as expeditiously and efficiently as possible.

In 2022, the Alberta Court of Appeal found that the federal IAA was unconstitutional, calling the legislation “a breathtaking pre-emption of provincial legislative authority.” The Alberta Court of Appeal’s decision was appealed to the Supreme Court of Canada, where AEG again sought (and was granted) leave to intervene. AEG’s counsel presented oral arguments before the Supreme Court of Canada on March 21 and 22, 2023.

AEG was also prompted to contest Ottawa’s Bill C-235 – “An Act Respecting the Building of a Green Economy in the Prairies.” This bill sought a new layer of federal oversight and regulation over any federal programs implemented in the Prairies related to Ottawa’s net-zero requirements. Other provinces would not face the same level of federal intervention.

As a collective organization, AEG formally expressed its concerns regarding the centralization of economic decision-making from the Prairie provinces to Ottawa. In addition, this proposed bill was steeped in layers of micromanagement that would entail excessive reporting accompanied by

AEG Event July 2023. Rebecca Schulz, Minister of Environment and Protected Areas of Alberta and Kelley Charlebois, Maple Leaf Strategies.

AEG Event July 2023. Nate Glubish, Minister of Technology and Innovation in Alberta; Rick Christiaanse, Invest Alberta; and Moderator Shondell Sabad, Prairie Vertical Farms.

AEG Energy Panel February 2023. Moderator David Mann, Dentons; Joy Romero, CNRL; Kevin Birn, S&P Global Commodity Insights; and Stephen Buffalo, Indian Resource Council of Canada.

burdensome costs. AEG stepped up to argue on behalf of its members that the province and the oil and gas industry already had well-established policies, programs and active solutions in place to reduce emissions and was better suited to determine what works best within provincial borders. Notably, Conservatives and the Bloc Québécois voted against the bill, but Liberals, NDP and the Green Party supported it.

The third issue identified by AEG leadership was the forthcoming changes to financial disclosure standards. The International Sustainability Standards Board (ISSB) released its Sustainability and Climate-related Financial Disclosures in June, which are being considered for implementation in January 2024 by the Canadian Sustainability Standards Board (CSSB). This federally advocated mandate will likely have a profound effect on how members operate and do business. These new standards will require comprehensive Scope 3 emissions accounting, climate-risk scenario

analysis and third-party verification of all reported data, along with a host of other burdensome and expensive requirements.

AEG met with Alberta’s Premier Smith to explicitly identify how the proposed standards would negatively affect Alberta’s businesses, from potential risks to accessing capital to the incredible magnitude of costs, time and manpower. A submission was also made to the newly formed Canadian Sustainability Standards Board and the Alberta Securities Commission expressing concern about the standards for AEG members and requesting consultations before the standards are implemented.

The unwavering commitment to its members and to Alberta’s business prosperity ensures that the organization will always be ready, willing and able to take on policies, legislation, acts and changes that are not conducive to the province’s growth and potential.

REFLECTIONS ON AEG’S EVOLUTION

Currently, the board members of AEG are Herve Faucher, Steven Kim, Donna Neumann, Peter Kiss, Branko Culo, Bruno Müller, Terry O’Flynn, Shane Wenzel and Tim Shipton.

AEG’s founders and board members reflect on AEG’s evolution and share their thoughts:

Cal Nichols, Co-Founder, Board Member

Why did you co-launch Alberta Enterprise Group? With increased collaborative thinking, there is much more value in doing it together rather than doing things on one’s own. We sought to bring likeminded businesspeople together to accomplish greater results. We are risk takers at heart and found that several people who come together to deal with a problem or look for solutions as a whole get better results than what some of the smartest people in the room might do single-handedly.

Aside from that, our goal was to promote Alberta and what the province has to offer the rest of the world, nationally and globally. We have so much to offer to all sectors. We sought the best ways to reach out and sell ourselves with what we have to offer, with the potential for encouraging investment and jobs and a better quality of life for Albertans.

What were your greatest successes?

We got out in front of a lot of people at different times, such as politicians and leaders, through our events and trade missions. That resulted in a fair bit of media interaction, which gave us positive exposure. We stepped it up with some additional ideas and demonstrated something to sell.

What do you view as opportunities for the future of AEG?

Everyone is connected to the energy business one way or another. We have lots of energy and we are good at it. When energy has a down day, it shows everywhere. The dollar goes down and it affects everything.

Agriculture is big and equally important. I feel that it is very disappointing that we have a federal

Tim

Shipton,

Co-Founder, Board Member

What was your motivation/inspiration for founding AEG?

Our group first came together during the 2005 leadership race to replace Ralph Klein. There was a lot of talk after Ralph’s successful time as premier about what was next for Alberta. The main focus was to ensure the business community was well represented in the leadership race – that the focus, rightly, should be on how we continue to grow the economy, how we create the conditions for entrepreneurs and wealth creators to be successful, thereby strengthening not only our economy but our communities as well. Together, we attracted a wide cross section of businesspeople from across Alberta to support a candidate as the party leader.

Cal Nichols, Co-Founder, Board Member.

is open for business and you’re welcome to join us.”

You must remember, business owners are often consumed by the challenges in front of them –growing the business, paying the bills, keeping people employed – and that can eat up a lot of time and energy. We found that by bringing people together, we not only created a powerful movement, we also created a support network for business owners and operators to come together, discuss their challenges and opportunities, and work together with a lot of camaraderie toward the best interest of the province.

We started with members from all corners of Alberta, with our two original members being Cal Nichols from Edmonton and Murray Edwards from Calgary. We brought together people from diverse sectors, diverse sizes of business – family-owned small business, medium-sized up-and-comers and some larger big businesses as well.

Has the success exceeded your early vision? Have there been surprises along the way?

Businesspeople in Alberta are always willing to step up when asked to help, always willing to do things to help their communities and the province. So, the success of the organization has always been built on the members. The early vision was about bringing people together and working toward a common goal, about not being afraid to talk about how proud we are of the province and the many great industries and people that have built our economy.

There have been many surprises along the way. Maybe the biggest is the number of doors that have been opened by working together. We’ve met a multitude of decision-makers and have been to a lot of amazing places, such as the White House and the U.S. Senate and House of Representatives. We met with prime ministers and premiers. We have met with European investors, toured world-class oilsands operations, met with business leaders across Canada and beyond – and everywhere people have been interested in the Alberta story.

What have been the biggest successes of this organization to date, in your opinion?

The biggest success has been the businesses we’ve brought together and the passion shown by our members in telling their story – their Alberta business story.

What have been the most significant challenges?

Early on, it was how best to tell the Alberta energy story. There were very well-funded organizations trying to discredit Alberta’s place in the global energy market. We saw it in 2007 in Washington, D.C. with organized protests. Our message was simple – Alberta is a well-regulated, democratic jurisdiction with world-class operators. The world needs Alberta energy. Alberta is a place you want to get your energy from; it’s a reliable jurisdiction committed to safe and steady supply and improving environmental performance.

In what areas do you see the greatest opportunity for growth in Alberta’s enterprise sector?

Alberta business has always had free market principles at its core, while also being fiercely proud and committed community builders. We need the next generation of businesses to think big about how we can grow our communities, compete on the world stage and continue to lead

Tim Shipton, Co-Founder, Board Member.

economic growth in our country. At the core of that are simple ideas – a competitive tax and regulatory framework for business, government getting out of the way of business, the best educated workforce in the country and entrepreneurs who are willing to think big.

How important is it to create networks and collaborative partnerships amongst business owners in Alberta?

It’s everything. Business owners are problem solvers by nature, so why not get them focused on the big ideas for Alberta?

Are there any new initiatives that you are particularly excited about in this upcoming year?

A key mandate of AEG has been telling the Alberta story on the national and world stage. It’s the perfect time for us to get out there and confidently say we’re open for business!

Steven Kim, Board Member

What was your motivation for joining AEG?

Being a lifelong Albertan, becoming a member of AEG gave me an opportunity as a professional and as a member of the business community to make a difference and give back, as well as to allow an

opportunity to shape Alberta. Being around very successful entrepreneurs, learning from them and being part of that environment was certainly of interest to me, too.

Has the success exceeded your expectations?

Definitely. The individuals who I have had frank discussions with are some of Alberta’s most successful business leaders. It is remarkable, the company I am amongst when I am doing the work at Alberta Enterprise Group.

What have been the biggest successes of this organization to date?

Some of the trade mission trips, where we bring together business leaders from all walks of life, is a place where many synergies develop. Also, the activities that break down barriers to bring together business leaders and political leaders, working on tackling problems in a non-partisan way – these have been some of our greatest successes.

In what areas do you see the greatest opportunity for growth in Alberta’s enterprise sector?

I think that the old growth area of energy will continue to be a long-term opportunity. The world will still need energy for quite some time and Alberta will have an important role in all of that. At the same time, there is a ‘cando attitude’ with entrepreneurial roots to help solve problems and with that will come a great opportunity for energy transformation.

How important is it to create networks and collaborative partnerships amongst business owners in Alberta?

Incredibly important. When we have business leaders working together to reach common goals, it favours Alberta to make us even better in the future.

Terry O’Flynn, Past Chair of the Board

What was your motivation for joining AEG?

We had put together a group of business folks and the initial discussions were that we wanted to have a knowledge-based approach to, “What is Alberta?”

As time went on, we cultivated these thoughts and out of it came the Alberta Enterprise Group. We were able to promote Alberta businesses globally.

Steven Kim, Board Member.

The feedback that resulted from our trade missions was unbelievable. When we went to Ottawa, we met with all the political and business leaders. It was the excitement of the potential of the right people with the right approach – good people representing the right reasons to live, work and play the Alberta way.

Has the success of AEG exceeded expectations? Yes, it has. Yet, back in the early days, I’d never have envisioned the organization could still maintain its original vision, having survived numerous recessions, changes in government and a pandemic. I believe this is a testament to the resilience of Alberta people and businesses.

What have been the biggest successes of this organization to date?

Without a doubt, it has been our ability to take Alberta outside of our boundaries. Our trade missions have given us the opportunity to offer Albertan businesspeople, in their own towns and cities, a

Terry O’Flynn, Past Chair of the Board.

chance to meet other Albertans. We advocate for Alberta and give people the real story of the province. When we show up with 100-plus people and all we want to talk about is what Alberta is all about, it is always successful. We are always met with, “This is so cool to learn about Alberta.” When we went to Montreal and Quebec City, businesspeople could not believe it. “You guys are just like us.”

In what areas do you see the greatest opportunity for growth in Alberta’s enterprise sector?

Albertans are naturally intuitive and competitive, with a thirst for knowledge; this competitiveness motivates people to do good things. There have been sectors that have emerged, such as AI since our inception, and Alberta is now a leader in AI. This is a result of the ‘Alberta way.’

How important is it to create networks and collaborative partnerships amongst business owners in Alberta?

It is paramount. To be able to share best practices with humility is so important. Plus, it’s fun! Whether it’s around a campfire or a boardroom table, it’s fun!

Are there any new initiatives that you are particularly excited about in this upcoming year?

I think the single biggest initiative is that Alberta and society recovers and finds its energy again, that

it presents great opportunities for businesspeople and Albertans to reconnect. I really believe that once they get reconnected, they will all realize what they have been missing out on and we will all be better for it.

GRATITUDE

Founders Nichols and Shipton conclude on behalf of AEG’s board members and staff, “We would like to express our sincere gratitude to all the people who have contributed along the way. It has been a group effort since day one: members, board members, staff, volunteers, partners, friends of the organization. Every one of you contributed your time and resources to the success of AEG. For this, we thank you all.”

AEG’S FUTURE

Since 2007, AEG has pushed Alberta forward, showing the nation – and the world – why investing in Alberta is a smart business move. The world has changed many times over in the 16 years AEG has been in motion, but the agile organization never misses a beat. The future of AEG sees even more in-depth engagement that facilitates ongoing, positive results.

AEG Event July 2023. Kelley Charlebois, Maple Leaf Strategies; Catherine Brownlee, AEG; Marie Rajic, Pathways Alliance; Rebecca Schulz, Minister of Environment and Protected Areas of Alberta; Tim Shaw, Tourmaline Oil; and Scott Volk, Tourmaline Oil.

Over the next two years, AEG’s focus is on five key pillars: greater transparency, food security, education, newcomer success, and law and order.

AEG will also focus on the results of its recent member survey, where it was determined that while members understand the need for collective advocacy for business in Alberta, some members struggle to find the time to participate in live gatherings due to the time constraints caused by running a business. The member survey also determined that members found great value with AEG, feeling empowered with shared insights and outcomes that could not be achieved without the support of the network.

For Herve Faucher, AEG board chair, the future of the organization will be just as impactful as its past.

“I joined 12 years ago; the main reason at that time was to join the trade mission to Washington, D.C. I have seen many benefits and networking ever since. For me, there has been no looking back,”

He was named board chair in 2022.

• Boot-strapped over 4+ decades - no external equity capital sourced

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POISED FOR OUR NEXT STEP OF GROWTH: SALES OF $1B+

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PIC IS A PROUD PARTNER OF THE AEG - WE APPRECIATE THE SUPPORT AND NETWORK!

Herve Faucher, AEG Board Chair.

“I am still,” he adds, “all about the networking and mentorship. That is elemental to all of what AEG provides its members. AEG has grown in involvement and we are well known for what we bring to Alberta businesses of every size, more so today than we were 10 - 15 years ago. The great benefits that AEG provides to our members centre around mentorship, networking and opening doors. For growing businesses, mentorship is key. For all sizes – startup to longterm businesses – they get exposed to different businesses and in some instances, it becomes a game-changer.”

He concludes, “What many people don’t yet understand is the power that AEG has in our functions, meetings and trade missions.”

MEMBERSHIP

Those interested in joining AEG will benefit from networking, services and advocacy that not only takes their business to the next level, but also helps showcase Alberta’s positive business landscape to the world. The following members are happy to share their experiences in hopes of attracting new members to the group:

“AEG membership has put me personally in touch with key businesspeople in Alberta and in particular, has kept me engaged in the political scene of the province and country.” - President of a member company

“I get the chance to do something that will make a difference for Albertans now and in the future that would be difficult to achieve as an individual.”

- Rob Iwaschuk, principal, Avison Young

“It is with utmost respect and pleasure to submit this note in support of the Alberta Enterprise Group. While I had not been as active in the

AEG Event December 2022. Queen’s Jubilee Award Recipients, Calgary, AB. For a full list of Queen’s Jubilee Award Recipients in Calgary and Edmonton, please visit www.albertaenterprisegroup.com.

Member Spotlight, Paul Crawford, August Electronics Inc.

first year of membership as I had wanted, I have since come to realize the breadth and depth of the benefits associated with participation in this organization over the last six months.” - Stephen M. Gallivan, president, CSC Valves Canada Inc.

“AEG membership has helped me to connect with top-tier decision-makers in Alberta business. With that, I’ve gained valuable insight and local market intelligence through Alberta’s business leaders. I have become a member of AEG for business, but also because I’ve been a lifelong member of the Alberta community. AEG has given me a way to contribute to shaping Alberta’s bright future.” - Steven Kim, investment advisor, RBC Wealth Management

“I’ve been a member from the early days of the Alberta Enterprise Group. I have travelled on missions, attended meetings and work on projects and platforms. What I always tell people is ‘get involved.’ It has turned out to be

a great group of connections with great people doing great things. One of the best groups I’ve ever been a part of.” - Brendan Connolly, owner, Ruth’s Chris Steakhouse/Alliance Building Maintenance

PO Box 22017 RPO Bankers Hall

Calgary, AB T2P 4J1

Catherine Brownlee: (403) 861-2001

Catherine@albertaenterprisegroup.com

You can have a hand in shaping the future of Alberta. Learn more about joining, supporting or deepening existing member engagement with AEG by visiting albertaenterprisegroup.com. YOUR

GROWTH IS OUR SUCCESS. LET’S GET YOU THERE.

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Patterned after key international trade expositions, VilleAero is Canada’s answer to international investment attraction, local festival excitement, tourism, and job diversification.

VilleAero is proud to partner with AEG and we appreciate the support they provide to our organization.

The Calgary Chamber exists to help businesses reach their potential. As the convenor and catalyst for a vibrant, inclusive and prosperous business community, the Chamber works to build strength and resilience among its members and position Calgary as a magnet for talent, diversification and opportunity. As an independent, non-profit, non-partisan organization, we build on our 132-year history to serve and advocate for businesses of all sizes, in all sectors and across the city.

Approaching Economic Reconciliation

Following National Day for Truth and Reconciliation on September 30, a day to honour the victims and survivors of residential schools and their families, the Calgary Chamber reiterates the importance of advancing reconciliation across the business community.

OVERVIEW

Indigenous Peoples in Canada have faced a long history of systemic injustices including residential schools, land dispossession and cultural assimilation policies, which have led to profound intergenerational trauma. Commemorating the history and ongoing impacts of residential schools is a vital component of the reconciliation process with Indigenous people and communities across Canada.

The Truth and Reconciliation Commission of Canada (TRCC) was established in 2008 to provide an opportunity to those who were directly or indirectly affected by residential schools to share their stories and to bring awareness of Canada’s history with Indigenous Peoples. The TRCC emphasizes that it is everyone’s responsibility to improve relationships with Indigenous communities. In 2015, the Commission released a report with 94 ‘Calls to Action’ including Call 92 for corporate Canada to advance reconciliation in business.

Advancing reconciliation must be an all-hands-on-deck effort including the corporate sector. In response to Call to Action 92, businesses should be focused on creating policies and practices that commit to building respectful relationships and engaging with Indigenous people and communities; promoting equitable access to jobs, training and education; and educating employees on the history and experiences of Indigenous Peoples including the history and legacy of residential schools.

ECONOMIC RECONCILIATION

Economic Reconciliation aims to create meaningful partnerships and mutually beneficial opportunities with Indigenous Peoples following decades of historical injustices, and the economic benefits of advancing the participation of Indigenous Peoples can create significant impact for everyone involved. In 2020, Indigenous people contributed almost $50 billion to Canada’s economy. According to the National Indigenous Economic Development Board, if Indigenous Peoples had access to the same education and training as non-Indigenous peoples, the resulting increase in productivity would mean an additional $8.5 billion in income earned annually by the Indigenous population. Similarly, if Indigenous people and communities had the same

access to economic opportunities available to other Canadians, it would result in an additional $6.9 billion per year in employment income and approximately 135,000 newly employed Indigenous people.

WHAT DOES THIS MEAN FOR BUSINESS?

“A commitment to business reconciliation provides opportunities for new partnerships and business and investment opportunities. It allows corporations to connect with a large and impressive group of professionals and businesses that can offer unique perspectives, knowledge and expertise. Fostering sustainable business relations between Indigenous Peoples and Canadian business leads to greater profitability, supply chain agility and flexibility, variety of economic opportunity, and social and cultural outcomes. All parties benefit.

Ignoring Call to Action 92 has implications for a company’s operations and bottom line. The risks to companies that fail to develop positive Indigenous relations include

reputational damage, regulatory intervention, litigation, project delays and disruptions, shutdowns and financial loss. All business owners and leaders have a direct role to play in supporting business reconciliation.” ~ The Canadian Council for Aboriginal Business

For the private sector, supporting and employing more Indigenous people is just good business. Indigenous people are the youngest and fastest growing population in Canada. According to Statistics Canada, the number of employed Indigenous people grew by almost 45 per cent between 2006 and 2016, and recent estimates show this trend continuing, projecting the Indigenous population to grow by more than 50 per cent by 2041. When looking at labour market needs – the future economy is Indigenous.

Improving relationships with Indigenous Peoples and engaging in reconciliation is an economic imperative for business success: it can generate new ideas by incorporating Indigenous ways of knowing, improve competitiveness, connect with new markets and ultimately lead to better results.

STEPS YOUR BUSINESS CAN TAKE

While economic reconciliation is complex, there are actions businesses of all sizes and sectors can take including:

• Offering Indigenous awareness training and education

• Acknowledging traditional lands through meaningful territorial land acknowledgements

• Developing an Indigenous employment strategy

• Hiring Indigenous Peoples

• Engaging with Indigenous communities and businesses regularly

• Establishing committees to create a work environment that supports the diverse needs and backgrounds of Indigenous employees

• Embracing Indigenous ways of knowing into your business

• Creating mentorship and sponsorship opportunities for young Indigenous employees to advance professional development

• Seeking mutually beneficial business partnerships with Indigenous-owned businesses

• Investing in community initiatives that benefit the local Indigenous community

• Sponsoring or participating in local Indigenous events

• Establishing Indigenous procurement policies

Economic reconciliation not only creates a positive impact for Indigenous Peoples, it also generates value and promotes collaboration amongst businesses and communities. The Calgary Chamber of Commerce remains committed to advancing the Indigenous businesses and organizations we serve, and we continue to learn and reflect as we move forward with our Indigenous partners and communities.

CELEBRATING CALGARY’S SMALL BUSINESS

THE VITAL

BY PARKER GRANT

Despite the roller coaster of the economy, inflation, unemployment stats, mergers & acquisitions, post-pandemic rebounds and quirky broadsides like business new normals, small and mid-size enterprises (SMEs) continue as the undisputed and vital drivers of Canadian – and Calgary – business.

The Calgary Chamber’s 2023 Small Business Week (SBW), all set for October, promises to be exciting, valuable, and muchdeserved recognition. Calgary’s Small Business Week is a special time to recognize and celebrate the accomplishments of teams, business owners and changemakers in Calgary.

SMEs are the economic engine of Calgary. They create jobs, support communities and bring innovation to industries which are Calgary business.

“A vibrant business community doesn’t exist without small businesses. They are the backbone of innovation and transformation in our local economy, here in Calgary,” says the enthusiastic Corey Kotyluk, vice president Independent Business Banking with connectFirst Credit Union and a major sponsor of Calgary’s SBW 2023.

“SMEs find new ways to solve problems when larger businesses are sometimes too slow to respond. They are nimble and can react quickly with creativity. They’re at the heart of diversifying our economy and they are transitioning us to a more robust business community for tomorrow.”

Desiree Bombenon is co-CEO and chief disruption officer of SureCall, the innovative, Calgary-based company which customizes customer service processes, and a major SBW sponsor. “We know that small business makes up the largest part of the Canadian business landscape, and

Calgary is no exception. Our local businesses are extremely supportive of each other and want to see small business in Calgary grow.”

Brian Hierath, regional manager Business Banking with Servus Credit Union, and a major sponsor of Calgary’s SBW, points out that small business owners are resilient while navigating challenges like rate increases, continued supply chain disruptions and wage pressures brought on by a narrow pool of applicants. “Small businesses contribute to the vibrancy of our community,” he says. “For some new Canadians, operating or being part of a small business is an opportunity to build a life and a future for their families in Calgary.”

DRIVERS OF CALGARY’S ECONOMY

ABOVE: COREY KOTYLUK, VICE PRESIDENT INDEPENDENT BUSINESS BANKING WITH CONNECTFIRST CREDIT UNION.

“A VIBRANT BUSINESS COMMUNITY DOESN’T EXIST WITHOUT SMALL BUSINESSES. THEY ARE THE BACKBONE OF INNOVATION AND TRANSFORMATION IN OUR LOCAL ECONOMY, HERE IN CALGARY,” SAYS KOTYLUK.

Small and medium-sized businesses play a crucial role in Calgary’s economy. “SMEs comprise a substantial portion of our workforce, stimulating local job creation and employment opportunities, and lending to our economic growth,” explains Deborah Yedlin, president and CEO of the Calgary Chamber of Commerce. “They are also a key factor in the economic resiliency of the city.”

Area business stats confirm that, as Calgary continues to diversify, SMEs play a critical role developing innovative solutions and technologies.

“By virtue of their size, they are more agile and can readily adapt to take advantage of changing markets and trends. Across Canada, small businesses are struggling with labour and rising costs. No one has escaped these challenges,” Yedlin says.

“Finding and retaining skilled workers is often a challenge for small businesses – and this is on top of higher inflation, rent and interest rates.”

“Small Business Week is important because it continues to highlight the solidarity of our business community, and the relationships that builds future success,” Bombenon says. “Small Business Week is a celebration of Calgary’s entrepreneurial spirit, and it continues to foster a strong and meaningful impact by bringing business and community together.”

The Chamber organizers are revved and ready with a variety of sessions and opportunities for businesses to network, strategize and learn from one another, and a lineup of relevant and interesting events – everything from employment contracts to negotiating tips and advancing Indigenous entrepreneurs.

The SBW Award night gala is always a Calgary special event, in many ways. This year, the 40th anniversary Awards gala on Friday, October 20, will recognize Calgary’s business best!

And the winners are:

• The CPA Alberta Social Entrepreneurship Award, for the Calgary small business that has been a leader in finding ways of doing business while doing good for the large community and environment.

•The Servus Credit Union People’s Choice Award presented to the Calgary small business that can demonstrate they have engaged the loyal support of their community. This award is determined by a public vote.

• The Air Canada Resilient Business Award, for the business who has shown, and continues to show resiliency, compassion, and dedication since the beginning of the pandemic.

• The Bow Valley College Innovation Award, for the Calgary small business that is pushing conventional boundaries and is disrupting and reshaping their industry through groundbreaking achievements in bringing innovation to market.

• The TD Equity, Diversity and Inclusion Award, for a Calgary small business that is a leader in progressing

principles of diversity, equity and inclusion in their workplace and community.

• The Grant Thornton Emerging Growth Award, is presented to the new emerging small business that has shown rapid growth and profitability in its first three years of operations and shows the potential for future growth and commercial success.

• The ultimate hardware at Small Business Week, the connectFirst Credit Union Small Business of the Year Award, for the Calgary SME that demonstrates significant business achievement, sustained growth and the potential to become a leader in Calgary’s business community.

Ankur Mahajan is co-founder and CEO of Pulp Shred, the dynamic local company providing affordable, convenient and secure drop-off and pickup shredding services in Calgary, and a recent SBW Award winner.

“Being a small business owner is a lifestyle choice, and a great honour and privilege, personally and professionally,” he says with enthusiasm. “Because 98 per cent of businesses in Alberta are small business enterprises employing less than 100 employees, the economic ecosystem cannot exist without having the large and small companies coexisting, collaborating and competing. If the large companies are the magnets for attracting talent, capital and growth for the city, the small businesses are the lifeblood, the nerve-centre and fabric of the city, bringing the communities together. One cannot exist with the other.”

Mahajan adds that the SBW Award is a recognition of the positive impact of local businesses, and that Pulp Shred was humbled and grateful for the SBW recognition. “It gave us a lot of validation, confidence and morale boost that our Triple Bottom Line approach to business is recognized and appreciated by Calgarians.”

Andrew Obrecht is a respected entrepreneur and co-owner of the popular YYC Cycle Spin Studio, a recent Calgary SBW Award winner. “As a small business, you’re nothing without your community and culture,” he points out. “Being a small business allows you to foster the connection and energy that you want within your walls and to nurture the valuable relationships with every person that walks through the doors.

“The challenges, especially over the last few years, is the balance between business needs and the needs of

“BEING A SMALL BUSINESS ALLOWS YOU TO FOSTER THE CONNECTION AND ENERGY THAT YOU WANT WITHIN YOUR WALLS AND TO NURTURE THE VALUABLE RELATIONSHIPS WITH EVERY PERSON THAT WALKS THROUGH THE DOORS,” SAYS OBRECHT.

customers. We have had to make some tough decisions, like shutting down studios, because it was the only way we could right-size the business to survive.”

According to Corey Kotyluk, “connectFirst understands the challenges and needs of our small business members, and we work alongside owners to find solutions that work best for their unique situations. Sponsoring Small Business Week is an opportunity to us to stay connected with the special Calgary community and continue fostering important relationships –which is really at the heart of every small business.”

SureCall’s Desiree Bombenon underscores the importance of Calgary’s Small Business Week, highlighting “the solidarity of our business community, and the relationships that builds future success. It is a celebration of Calgary’s entrepreneurial spirit, and it continues to foster a strong and meaningful impact by bringing business and community together.”

ABOVE: ANDREW OBRECHT, ENTREPRENEUR AND CO-OWNER OF YYC CYCLE SPIN STUDIO.

Raising Awareness

AND REDUCING STIGMA

SIGNS ARE VAGUE, SUBTLE, OR CAMOUFLAGED

BY PARKER GRANT

It’s a stark and sad fact of contemporary life. It is also an opportunity!

In Canada, suicide is not only alarmingly common, but men also have a suicide rate three times higher than women. It may be complicated but research suggests legitimacy in the stereotype. Among men, showing emotion is still perceived as a sign of weakness. So is asking for help.

It is the essential and proactive focus of the Buddy Up concept. A vital call to action – for men and by men – to drive authentic conversation, to generate awareness, listen, educate and offer support about suicide prevention.

Buddy Up is the proactive campaign of Calgary’s Centre for Suicide Prevention, a branch of the Canadian Mental Health Association. The Centre has been invaluable, equipping Canadians with the knowledge, skills and motivation to respond to people considering suicide.

“Men are often socialized not to talk about their emotions, leaving them with the idea that any show of perceived weakness will diminish their ‘manhood’,” explains Akash Asif, the Centre’s strategy and operations director. “It is one reason why some men, instead of reaching out for help, may hide their stress and deal with their emotions through harmful behaviours and actions, sometimes suicide.”

Research shows that men are often taught to prioritize career and financial success over relationships, and they have fewer relationships over time. Fewer people to reach out to for help, and fewer people to notice that they may be struggling. “Buddy Up is meant to help raise awareness, reduce the stigma around suicide, encourage behavioural changes and provide opportunities to connect with buddies.”

He acknowledges that for friends and family the warning signs are often vague, subtle or camouflaged. Any change in behaviour can be a warning sign or invitation for help. So, if someone in your life is acting in a way that makes you worried, they may be struggling – reach out and ask how they are doing.”

Some common warning signs include losing interest in hobbies or activities they normally enjoy, disconnecting from family and friends, changes in sleeping or eating patterns, drinking alcohol or taking drugs, out-of-character risk-taking behaviour such as drunk driving, or talking about wanting to die.

“If you are worried about someone, start a conversation with them. Tell them what you have noticed and why you are concerned,” Asif suggests. “Listen to what they are saying and ask questions to get more information. You don’t need to solve their problems. Just listen without judgement and validate what they are saying.”

Asif emphasizes that everyone has a role to play in suicide prevention and, because many people spend upwards of 60 per cent of their waking hours at work, the workplace is a major part of their lives.

ABOVE: AKASH ASIF, THE CALGARY CENTRE FOR SUICIDE PREVENTION STRATEGY & OPERATIONS DIRECTOR.

ASIF EMPHASIZES THAT EVERYONE HAS A ROLE TO PLAY IN SUICIDE PREVENTION AND, BECAUSE MANY PEOPLE SPEND UPWARDS OF 60 PER CENT OF THEIR WAKING HOURS AT WORK, THE WORKPLACE IS A MAJOR PART OF THEIR LIVES.

The Suicide Prevention Centre’s Buddy Up Campaign relies on Champions – the involvement, the caring and the support of community and corporate partners. Being a Champion of the Buddy Up campaign is a dynamic community focus of CSV Midstream Solutions, the respected Alberta-based company, offering full services for complete midstream solutions in natural gas and natural gas liquids (NGL) processing.

CSV’s boosting of the Buddy Up campaign goes way beyond the business bottom line. It is about community. “Creating Shared Value is an approach to business that resonates with the way we see the world,” says Daniel Clarke, CEO of CSV Midstream. “And the fundamental belief in the good that people desire, and a shared responsibility to help not just ourselves, but our fellow humans as well.”

Many companies talk-the-talk about ‘community,’ and Clarke emphasizes the unconditional importance for CSV Midstream to walk-the-walk.

“The Creating Shared Value model underpins our business, and it cannot be achieved without identifying critical social issues in the communities we impact. Without spending time in community, we can only create value for ourselves, which is not reflective of what we are trying to do.”

It is how and why CSV Midstream’s championing of Buddy Up began. In some ways, it is a natural connection and a perfect fit. “I’ve been a passionate advocate of mental health for many years and have personally seen the way people can struggle when they lack the resources or relationships to support them,” he notes.

“It is important for everyone at CSV to have an environment where people not only feel comfortable speaking to one another, but also have the tools and resources to identify and communicate effectively.”

Clarke is candid and blunt about the energy sector, especially in the field, still being predominantly male, sometimes creating an extra layer of stigma when it comes to being vulnerable. “We are trying to change that. But it is no secret that workers in our industry often work long hours in remote locations, typically away from their regular support systems. This reality can present challenges for workers and their mental health.

“So we consider our support of Buddy Up to be a proactive measure that could save a life and at minimum, encourage a more open and communicative environment.”

ABOVE: DANIEL CLARKE, CEO OF CSV MIDSTREAM.

MANY COMPANIES TALK-THE-TALK ABOUT ‘COMMUNITY,’ AND CLARKE EMPHASIZES THE UNCONDITIONAL IMPORTANCE FOR CSV MIDSTREAM TO WALK-THE-WALK.

AI AND YOUR BUSINESS

BY JAMIE ZACHARY

Artificial intelligence continues to be both romanticized and villainized within the business community.

Praised for its real-world examples of increasing efficiencies, improving decision-making and providing a competitive advantage, it’s also sparked fears due to its high costs, complexity and ethical considerations, to name a few.

Local experts admit there are many misconceptions about artificial intelligence, or AI, from both perspectives that often trace back to an unfamiliarity with the technology. Yet with the transformative power of AI here to stay, they say the question business owners should now be focusing on is not “if,” but “how” will they use it?

SEPARATING FACT FROM FALLACY, AND HOW EXPERTS ADVISE ON HOW TO GET STARTED

“There isn’t an organization that’s not exploring AI. It’s just that most don’t know how to take that first step,” says Nicole Janssen, co-founder and co-CEO of AltaML, an Albertabased AI scaleup that designs and implements applied AI solutions for businesses.

The modern field of AI traces back to the 1950s. The deep learning revolution since the early 2010s have since proliferated AI’s use in virtually every facet of our personal and professional lives.

AI’s applications have become even more popularized in recent years through generative AI programs such as ChatGPT that use computer algorithms learning to not just predict but also produce based on the patterns they learn from existing content.

Janssen and her husband Cory co-launched AltaML in 2017 after they both saw a gap between where businesses were with their respective AI adoption journeys and where they wanted to be. Much of the effort since then has been on education.

“Often, that’s where we have to start with a lot of our clients,” says Janssen. “From the executive to that end user, we’re helping to explain AI, explain machine learning, as well as what can it do for you and what it can’t.”

Today, the Alberta-based company has grown from four employees to 120, with offices in Edmonton, Calgary and Toronto. Janssen estimates they have more 400 use cases of helping businesses in sectors such as manufacturing, finance and energy identify where AI and machine learning technologies can be applied to improve their dayto-day operations.

It’s part of a growing trend of AI adoption in Calgary and beyond. Statistics Canada’s 2022 Advance Technology Survey noted large enterprises are leading the AI adoption charge, with the utilities, information, cultural, finance and insurance industries boasting the highest adoption rates.

However, Canadian business still have a way to go when compared with their American counterparts. A KPMG survey released this past spring revealed only one-third of Canadian companies are currently using AI in their operations, which is approximately half of that of U.S. business.

Of the Canadian organizations currently using AI, more than half of respondents admit they could be using AI more effectively and efficiently.

When it comes to Chat GPT specifically, only one-third Canadian companies are looking at ways of using the AI platform to improve their operations, compared with nearly two-thirds of U.S. businesses using the technology.

Some of the main challenges to increased AI adoption stem from lack of skilled talent and quality data to train AI algorithms.

ABOVE: NICOLE JANSSEN, CO-FOUNDER AND CO-CEO OF ALTAML.

“OFTEN, THAT’S WHERE WE HAVE TO START WITH A LOT OF OUR CLIENTS,” SAYS JANSSEN. “FROM THE EXECUTIVE TO THAT END USER, WE’RE HELPING TO EXPLAIN AI, EXPLAIN MACHINE LEARNING, AS WELL AS WHAT CAN IT DO FOR YOU AND WHAT IT CAN’T.”

“Large organizations are sitting on vast amounts of data, but to make that data work effectively for them, they need to properly assess the quality of their data first,” says Zoe Willis, partner and national data and digital lead for KPMG in Canada.

“Without that, their journey towards being AI-ready will be rocky, so the first step for any organization thinking about adopting AI is get your data ready.”

Another step is to understand the problem before deploying an AI solution. Another fallacy about AI that Janssen continues to see is business owners believing AI is a magic pill. Yet she reminds clients that AI does not work and bring results on its own.

“It’s not about asking, what can machine learning do? It’s asking, what are your business problems? And then deciding with the data you have whether this problem is best solved through machine learning,” says Janssen.

“If not, you can end up spending money on something that really doesn’t give you a return on the investment.”

Willis further points to several additional steps organizations can take to achieve AI readiness, including compiling a full inventory of data, assessing its accuracy and relevance, identifying gaps and evaluating where that data sits with the organization.

“Without quality data, AI algorithms are susceptible to output that is biased, incorrect, misleading and unreliable, and the consequences for businesses include errors that lead to poor business decisions, ” he says.

This plays into two other common fallacies that Janssen commonly encounters. The first is that AI is a one-sizefits-all solution. The reality is every company’s data and problems will be slightly different than someone else, so the application of AI will be quite different.

The second is that AI will replace jobs. In fact, Janssen says it’s quite the opposite.

“Instead, what’s often happened is that they have repurposed those individuals into higher-value work because they’ve taken away some of the work that’s lesser value,” says Janssen. Several post-secondary schools in Calgary are already

training tomorrow’s workforce on how to use AI tools in business today. The University of Calgary, Mount Royal University and Bow Valley College all offer machine learning courses, with the latter being part of the AI Pathways Partnership consortium of post-secondaries from across Alberta that aims to jointly advance artificial intelligence and machine learning.

This fall, the University of Calgary is offering a new Generative AI and Prompting undergraduate course that focuses on the newly emerging field of “prompt engineering” and how to best harness the power of generative AI.

Mohammad Keyhani, the associate professor of entrepreneurship from the university’s Haskayne School of Business who will be teaching the course, says the intent is to provide students with a better working knowledge on how to leverage tools such as ChatGPT and Midjourney to solve real-world problems.

“This technology is taking over the world. People need to prepare for it,” he says, noting the course will also cover cautions and concerns regarding the use of AI such as plagiarism, intellectual property and data privacy.

“Most of that preparation isn’t really about learning the mathematics or engineering behind AI. That field already exists. Rather, the rise of generative AI is creating a new field, a new area of expertise, a new discipline that we all need to learn. And nobody is really preparing our kids for that.”

Outside of the classroom, he extends the message of preparation to business owners who should also be looking for ways to accept AI within their respective operations.

“The message that I think is most critical to get out is that people need to appreciate how game-changing this technology really is,” says Keyhani.

“If you’re a business that is just trying to ignore it or you’re banning it in your business because you’re worried about how people are going to use it, that’s the wrong way to approach this. It’s like trying to ban the Internet. This is not the way to go.

“People have to really take this seriously. It’s not just another fad.”

Placemaking Experiences

Inspiring people and communities

by John Hardy | Published by Melissa Mitchell

They are stunning! Beautiful. Masterpieces. Landmarks. And, like other, large, high-visibility graphic works of art, they are expressions, emotions and feelings. And yes, they are conversation pieces.

They are also a key part of the relatively new urban design movement, generating awareness and getting noticed as “placemaking.”

Urban Design Lab, an expert in this space, explains placemaking as “a contemporary approach to urban design that prioritizes people over infrastructure. It aims to create public spaces that are more than just utilitarian, but rather places that inspire and promote social interaction and cultural exchange.”

Heavy is an internationally acclaimed and Calgary-based creative team which partners and collab-

Photo by Rebecca Hardcastle

orates with architects, artists, developers and contractors to bring these creative placemaking experiences to life in high profile and public spaces. According to the specialized expertise of Ryan Bessant, president and founder of Heavy, it’s an exciting business and cultural phenomenon that creates joy and a deeper sense of community using intentional creativity and design.

A prime example is Wonderland, the 12-metre, bentwire girl’s head in front of The Bow tower in downtown Calgary. Although it is likely the most recognizable example of Heavy’s ingenuity and placemaking successes, there are more than 1,000 iconic Heavy installations throughout Alberta, Canada, the U.S. and as far away as Munich and Singapore.

“Of course it’s art,” Bessant says enthusiastically, “But it’s bigger and much more than that. Placemaking is broader, and more nebulous. We are more like collaborators and facilitators. Placemaking means different things to different people. But the beautiful thing about it, and the design and the art which is the focal point, is that it gets people talking.”

Heavy continues to earn awards and a growing international reputation as a uniquely bold and forward-thinking Canadian art and architectural features company, working with a variety of creatives to design iconic landmarks and transform city landscapes.

Heavy’s focus and hands-on approach works to improve neighbourhoods and cities, by inspiring people to collectively reimagine and reinvent public spaces as the heart of every community.

More than just promoting striking urban designs, Heavy facilitates the creation of physical, cultural and social identities that define a place – as well as supporting their ongoing evolution. “To make it happen, the Heavy team collaborates and creates a sense of place where people want to work, and play or just relax and enjoy,” says Bessant.

Heavy (perhaps the most unique and eclectic business in Calgary) is a high-energy team of 70 creatives, designers, materials experts, fabricators, welders, installers and project management professionals.

CELEBRATING HEAVY’S 20 YEARS IN BUSINESS!

Through our partnership with Heavy and our shared value of connecting people through place-making together we have been able to create dream homes in thoughtfully planned communities designed for how you live.

It’s no simple feat to plan and build fully custom, oneof-a-kind features while facilitating these massive projects with various creatives, designers, suppliers, fabricators and more. “We’re pushing the limits of what’s possible, connecting people to their public spaces in a way that helps enrich their lives,” Bessant explains. Heavy’s intentional PLAN–BUILD™ process ensures

projects of any size are delivered to their signature world-class quality. “Although it can sometimes be a challenge to fuse design and engineering with the creative vision and bring it all together, this is where Heavy shines,” says Connor Hayduk, Heavy’s director of creative. “We satisfy all the considerations while still creating something impactful.”

“We have a flexible process that can be applied to any space and any type of piece,” adds Sander Henriksen, creative lead. “We encourage our clients to think bigger and bolder in their ideas, while being focused on providing a path for how to achieve their vision.”

The challenge – and the exciting opportunity – is creating a feeling and a mood, because, as with most art, reactions, positive or otherwise, are bound to be individual and personal.

“Typically when we are working with an artist and architect, it is really in their world to establish that feel and idea. Our role is to understand and sometimes challenge them on their perspective, but ultimately support

CELEBRATING 20 YEARS OF EXCELLENCE

Congratulations to Heavy! Your journey has been remarkable, and as your dedicated staffing partner, we're proud to have been a part of it. Our partnership, fueled by the belief that people build projects, continues to drive excellence. Here's to your ongoing success!

them on that vision,” explains Henriksen. “Ultimately, our work with our clients is to understand the creative vision and intent – and make it happen.”

Even with Heavy’s game-changing and unconventional business model, it’s a fact that Heavy boasts one of the most impressive, bold and breathtaking business portfolios..

It includes other spectacular Heavy achievements, like Emergent, located at the entrance of the Edison building in downtown Calgary. Paying homage to the

www.totalmetalworks.com

Congratulations on 20 years Heavy Experience!

We wish you many more years of success.

history of the Canadian railway and the impact it had on Calgary’s development, artist Jill Anholt worked with Heavy to create a piece that would serve as a placemaking feature and a surprising experience. The mirrored stainless steel panels were painstakingly installed at precise angles to reflect the Calgary tower and iconic surrounding buildings back to the viewer, linking the piece to its context and history.

Another example of Heavy’s architectural ingenuity is The Nest, the encompassing meeting space suspended at mezzanine level in Calgary’s Esker Foundation

gallery. The Nest is composed of both structural and aesthetic bands of steel and built according to LEED Silver standards.

The whimsical tree sculptures at Flyover park Calgary’s Bridgeland district get lots of oohs and aahs, as do the beautifully sculpted pitcher-like flower shapes of the quartet of monoliths in Paisley, Brookfield Residential’s south Edmonton neighbourhood. These are internally-lit sculptures that face each other and use a motion sensor to trigger dynamic lighting scripts that interact with users.

“Considering the impact on our community is essential and at the core of everything we do,” Ryan Bessant emphasizes. “It is at the centre of Heavy’s placemaking process, and it is consistent with Heavy’s ultimate goal: the creation of quality public spaces that contribute to people’s health, happiness and well being.”

EXCEL & Y INSURANCE: New Name, Same Great Service

Written by Rennay Craats | Published

by Brittany Fouquette

Photos by Riverwood Photography

Back Row - Thom Young (founder), Val Young (founder), Ibukun Famakin, Ken Coreman, Scott Way, Neil Scarle, Denis Ohrn, Amanda Briggs and Miro Mitrovic. Front Row – Jody Lohr, Vanessa Simmonds, Kristine Potter, Nicole Thompson, Karri Lawrenson, Shallan Kryski, Erron Grasby, Mechelle Rose and Premal Thakar. Forefront – Robyn Young and Elizabeth Grasby.

Since the 1980s, Lundgren & Young Insurance has been a fixture in the Calgary market and a valued part of the Haysboro community. Jack Lundgren hung his shingle in 1983, cold calling potential clients and tucking handwritten flyers under people’s windshield wipers to drum up business. He slowly built up his client base and in 1985 he expanded through acquisition before meeting Thom and Val Young in 1988. The Youngs had just arrived in Calgary and were looking for opportunities in the field and the partnership proved to be a good one.

The newly renamed firm, Lundgren & Young Insurance, grew from a three-person operation to a team of about 100 as it developed a reputation over the years for providing great service for its growing client base. The Youngs bought Jack Lundgren out of the company in 2000 and then he retired in 2014, and that seemed like a good time for the Youngs to sell their shares in the company to the next generation. Their children, AJ and Robyn Young, ran the company together until AJ left to pursue other interests and Thom and Val bought his shares to once again partner with their daughter.

The early 2010s represented a time of enormous growth for Lundgren & Young, and that growth didn’t allow for adjustments necessary to keep the company strong. This, combined with the

challenges in the Alberta auto market at the time, meant that L&Y was looking at reduced market availability for their customers and the Youngs knew they had to make some changes.

“We had a lot of rapid growth in the 2010s, but it wasn’t smart growth,” says Robyn Young, president and CEO of Excel & Y Insurance. “We were a good-sized brokerage that was down to three insurance markets. It made it very challenging for us to provide choice to our customers.”

The team at L&Y made significant operational changes to address the issues encountered due to the growth, and Young began looking at opportunities that would allow her to grow the business optimally while continuing to provide an excellent customer experience to existing customers. Through her board work with the Insurance Brokers Association of Alberta & Canada (IBAA & IBAC), she had developed a relationship with Scott Treasure, a founding partner in the Excel Insurance Group – a group of like-minded independent brokers who partnered together to leverage market relationships and brokerage operations in 2014. The model and the values of the Group aligned with the Young family’s own, allowing them to both increase market access for their customers and remain Independent. The Partnership was a great fit for both.

Excel & Y Leadership/Management: Back Row – Erron Grasby, Karri Lawrenson, Val Young, Robyn Young, Thom Young and Amanda Briggs. Seated – Jody Lohr and Scott Way.

CONGRATULATIONS

“It was a group of independent brokers in a true partnership. It was a cluster where everybody still maintains ownership of their own book of business but shares markets and efficiencies,” says Young.

In 2021, Lundgren & Young marked the new partnership by rebranding the company as Excel & Y Insurance; no matter the name, the team of 60 staff and brokers continued to provide the same tailored service to ensure clients received the best commercial, personal or recreational coverage. Being a customer-centric company, the team worked hard to develop strong, enduring relationships with clients so they knew exactly what clients needed and could then adapt their plan to meet those needs. These efforts have paid off, as many of Excel & Y’s clients have been loyal customers for decades and continually refer their friends and family to the firm.

Being an independent firm allowed the team to provide this incredible service, and part of the appeal of joining the Excel Insurance Group was retaining that independence. This is increasingly rare in the Canadian marketplace as more and more, brokerage conglomerates are swallowing up privately owned local brokers, greatly reducing the options for clients. As a truly independent brokerage, Excel & Y ensures that their customers have a choice of markets so they receive the best coverage and rate for all of their insurance needs.

“With us being independent, we’re not beholden to any insurance company or market for anything that we do or offer. When we offer someone a product, it’s truly what we feel is the best product for them and not because the market has some kind of investment in our brokerage; this makes us somewhat unique in our market these days,” she says.

Being part of this network of independent brokerages has facilitated Excel & Y’s focus on growing the right way and being a strong partner for its markets. The company currently focuses on servicing Alberta clients from their offices in Calgary, Camrose and Edmonton but will look to organically expand its service area to fit the needs of its customers.

Any growth in staff, industry partners or service area has to pass through the company’s foundational values to ensure it’s a good fit. From the top down, Excel & Y management and the team working under it adhere to the corporate values of family, authenticity, innovation and integrity; these values reflect the company’s culture, which encourages people to be who they are, to respect their colleagues, partners and customers, to implement technology to improve the customer and broker experience and to always do what’s right. Within this culture, the team feels valued and trusted and in return is dedicated to clients and to the success and growth of the company.

Specialty solutions for those who stand out

Excel & Y Insurance Services Ltd.

on this big occasion and many wishes for future success.

This positive culture has led to great staff retention over the years and helped the team navigate through the tumultuous COVID restrictions. When offices shut down, Excel & Y Insurance responded nimbly, tapping the technology and infrastructure already in place to transition to home-based operations. Now, with all restrictions lifted and many companies returning to in-office work, Excel & Y continues to offer this popular flexible workplace model. Even the CEO doesn’t have an office; instead Young hotels in when she is working from the office and uses a communal desk or workspace. Along with disrupting the historical definition of ‘office’, the company has relaxed the traditional hours and clothing guidelines and instead focuses on the output.

“Now we choose to monitor based on metrics, so if you’re doing what you’re supposed to be doing, then we’re good with that,” says Young. “We have better productivity now than we did before COVID.”

Great productivity translates to higher customer satisfaction which in turn leads to more clients bundling insurance packages with the company. The Excel & Y team has extensive experience and knowledge that ensures clients know exactly what they are getting and not getting with a product or package. After all, they are there to protect their clients, and they take the job seriously. They provide advice, education, advocacy and options for clients so if the worst happens, their clients are covered.

“When there’s a fire or tornado or flood, these things are terrible and tough for a family to go through but 99 per cent of those people are going to be insured for that type of risk. What we do is bring them back to whole and restore them,” she says.

For 40 years, the firm has been that safety net that picks people up after an incident and has the products in place to help them build back again. Their clients build their dreams and Excel & Y Insurance will continue to proudly protect them.

to our partners at Excel & Y Insurance Services on 40 years of business!

We look forward to celebrating many more with you.

We are proud to be partnered with Excel & Y Insurance Services Ltd. and congratulate you on your 40th anniversary.

Jennifer Power, B.Comm, CIP Vice President Pembridge Insurance Company

Louie Tsafkopoulos FCIP, CRM Director, Broker Sales Pembridge Insurance Company

Val Young, Robyn Young and Thom Young.

Jennifer Jackson Carey ArnettWayne Henuset

Wenzel

BUILDING

MUSCLES, WELLNESS AND COMMUNITY AT TRICO CENTRE

For 40 years, Trico Centre for Family Wellness has been a place where people gathered as much for camaraderie and community as they did for amazing fitness programming. Community is at the core of the organization, and in partnership with the 34 South Calgary community associations represented on the Board of directors, Trico Centre tailors its programming to meet the needs of those communities around it.

“Post-pandemic in particular, for people to have a place they can go for community, belonging, connection is huge. For a lot of members, they say the programs and fitness are great, but it’s the people that keep them coming back. There’s a real sense of community with members,” says Jeff Pratt, executive director of Trico Centre.

Written by Rennay Craats

published by Brittany Fouquette

Photos

by Riverwood Photography

The communities’ needs have changed over the decades, and the non-profit facility has evolved in order to continue providing the gamut of wellness services. It’s home to wellness-related tenants like Panther Sports Medicine Clinic, KUMON Math and Reading Centre, Green Door Preschool, Lifetime Smiles Dental Hygiene Clinic, Massage for Health Wellness Centre and JUGO Juice which complement the organization’s core values inherent

in the programming. Trico Centre offers a licensed before-and-after school care program linked to six community schools, modern fitness centre and studios, swimming lessons, wave pool fun for the family and two full-sized arenas. There is something for every ability, mobility level and interest in Trico Centre’s comprehensive program guide.

“We have a wide variety of programming; skating and swimming lessons, day camps, and then there’s our membership base of fitness classes, and we have a lot of those,” says Miriam Crook, program manager at Trico Centre. “We also have our facility bookings so we fill in the gaps with rentals. The building is well utilized.”

It is indeed, as at any given time Trico Centre has groups renting the multi-purpose spaces for meetings or parties, while members attend the approximately 80 fitness classes per week that offer everything from music and movement for toddlers to balance and core for seniors. While the high-intensity classes challenge more fit members, the goal is for all people to get and keep moving, so the team runs modified activities like chair yoga to include anyone at any level. Inclusion is key, and Trico Centre implements inclusion facilitators for

day camps to ensure all children’s needs are met and special swimming instructors who cater to children with special abilities. The team also prides itself on bringing niche programs to members that they wouldn’t find just anywhere. If members are looking for classes that target pelvic floor strength or fitness for diabetics or even bunny and goat yoga, Trico Centre is the place to be for fun and fitness.

The knowledgeable team is there to help members reach their goals, whether that is by leading exercise classes, offering encouragement or setting up a fitness plan to streamline their journey.

“We just relaunched our personal training into new programs that are more pay-as-you-need instead of buying a load of sessions,” says Amber Shevchenko, business development/marketing director for Trico Centre. “It’s now customized for each member’s personal wellness goals.”

Trico Centre facilitates wellness at any age, and a number of the robust senior membership have been part of the facility for 30 years. Many belong to the FLC Seniors Club based in the facility that meets for everything from cribbage to coffee to fitness classes. The Centre promotes vibrant seniors, active kids and healthy families in its programming, and this mandate goes beyond just fitness and exercise.

Jen Howard, Trico Centre’s child and youth director, has introduced innovative psychologybased programming called Skill Builders that focus on leadership, social skills, executive functioning, self-regulation, fine motor, gross motor and noncompetitive sports. These programs help children navigate friendships, develop emotional resilience and understand and manage their feelings.

“Sport and rec is a great laboratory for life in which you can build resilience, learn skills, understand yourself better and, particularly after COVID, be able to regenerate that capacity for wellness,” says Pratt.

As Trico Centre for Family Wellness celebrates 40 years with a variety of social events and a charity golf tournament, the team is already looking ahead at ways to expand and refurbish the facility to better serve its membership community for another 40 years and counting.

A unique space offering special and wonderful items.

Written by John Hardy | Published by Melissa Mitchell

Photos by Riverwood Photography

Pictured above: David Haight, Pam Haight, Morgan Haight and Crosby Haight.

Not all treasures are buried. Many are on tasteful, elegant and dazzling display, for irresistible browsing, at Rubaiyat, the popular shop on Calgary’s iconic 17th Avenue.

In fact, some say Rubaiyat is a treasure trove. From the antique display cases collected over the years from Birks, Banff Springs and private collections, to the vintage cash till from the Calgary stables, the warm and welcoming atmosphere is created.

Artisans such as Anzie, Armenta, Gurhan, Match pewter, Satava art glass, Kostantino, Jonathan Adler, Michael Aram, Robert Held, Chilewhich, Kingsley Bate and many more are represented. There are exclusive candles from Baobab, personal care products from Lothantique and seasonal fragrance favourites.

“For our family and for many of our customers, Rubaiyat is more than a store. “Some people say it’s a gallery,” says Pam Haight, the high-energy and charming Rubaiyat co-owner. “And some say it’s a museum!” coowner and spouse David chuckles with affection.

No doubt about it. The fabulous selection of beautiful Rubaiyat items is undisputably the focal point and main

attraction of the elegant and bedazzling 8,500+ square foot, Calgary business and retail success story.

But the true Rubaiyat uniqueness is the atmosphere, the warmth, the friendliness and the knowledgeable passion of the Haight family – Pam, David, daughter Morgan, son Crosby and the Rubaiyat staff.

A vital aspect of Rubaiyat’s appeal and enduring 50 years of success is being a well-known and respected family business, as well as a Calgary landmark. “It started just as a wild idea,” Pam recalls. “We put one foot in front of another, did our best, learned a lot of lessons, met some amazingly wonderful people and, after all these years, we still enjoy working together.”

A key aspect of the Rubaiyat secret is that family is always in the store. And we are so very blessed and fortunate to spend our days with a real diversity of nice, interesting and pleasant people who have all kinds of different wants and needs and tastes. Of course, Rubaiyat is a business. But it is very much a people business. “People – drop-in browsers or loyal customers – still make each day a pleasure and an experience,” she says.

Match Pewter

Stained Glass Studio

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1913-10th Avenue SW, Calgary

Gallery

Established in 1973

We are proud to be celebrating 50 years of successful business in calgary. As a family owned and operated business, we have had the opportunity to meet a vast array of wonderful clients, many of whom we call friends.

The diversity and beauty of the community in which Rubaiyat is situated, is enriched by other unique businesses, schools and residential areas.

Sharing our galleries treasures with everyone has been very fulfilling for us and we hope for you as well.

We appreciate the loyal support of our clientele and look forward to many more years to come.

~ Thank you ~

Morgan Haight doubles as Rubaiyat’s globetrotting jewelry and other treasures buyer, and also manages aspects of the family business’ operations. She admits that understanding what Rubaiyat customers would like is vital, and working with hundreds of artists, dealing with suppliers and scouring trade shows around the world can get overwhelming, but is an occupation pleasure.

Then the retail reality kicks in. “Especially with so much mass production, and e-commerce and online shopping being such hot phenomenons, and it’s probably here to stay, but I think people are gradually recognizing the limitations of online shopping.”

“I am convinced that people are much more savvy and more knowledgeable than ever, about the specialness of unique and handmade quality. They do their research, they ask questions, they know where and how it’s made. They know what they like. Being a small business and making it personal is a valuable retail advantage,” she explains. “Customers are attaching more meaning to the things they buy. And Rubaiyat is a personalized much more special way of shopping.”

Pam agrees that “people are becoming a bit jaded and more aware about the pitfalls of online shopping. Yes, it may be more convenient and quicker, but the Rubaiyat experience is so much more, in every way. Our customers browse, pick things up, touch it, feel it, give it a close look and get expert answers to their questions. After all, it’s not just clicking on an item. Browsing and shopping in Rubaiyat is an event.

Private Rubaiyat Collection

Jonathan Adler

“Besides,” she flashes a warm smile, “lots of people come in just to enjoy the ambience and browse. It’s their happy place.”

In Calgary, as in most areas, retail is not only a fiercely competitive business sector, but small business retail can be particularly challenging. Perfecting the customer experience, dealing with the competition, supply chain issues, the rising costs of doing business and other speedbumps matter.

Rubaiyat’s solid success allows the Haight family to focus on the business’ strengths and doing what they do best. The uniqueness of the Rubaiyat quality. The Rubaiyat selection. The Rubaiyat service. The warm and friendly Rubaiyat people-touch. And earning the trust of loyal Rubaiyat customers.

“The longevity of our service, as well as our terrific 17th Ave landmark location are huge attractions for Rubaiyat’s presence, profile, popularity and success,” says the upbeat and positive Morgan Haight. “And always keeping in mind that the familiar retail basic is proven and true: The return customer is vitally important!”

David Haight prefers to be behind-the-scenes of the popular family business, wise and focused with much retail and business expertise. “Calgary has become a very sophisticated market. People travel the world, they have excellent taste and they are

Micheal Aram

particular and selective about what they like, what they want and how they want it. Calgary has a strong entrepreneurial spirit, and it is a dynamic and a very healthy business environment. Ultimately, Rubaiyat’s strength is our service. It’s something you could never find online,” he adds.

“I realize the power of e-commerce, and that many businesses are okay to operate with clicks and texts. We work hard at being different and special. We are personal. We always go the extra mile, acknowledging the customer, providing expertise, service and quality.”

He gets slightly emotional and points out, “We have been in Calgary for 50 years, and I suppose we’re a staple. We have endured five recessions and succeeded.”

For decades, David Haight has also earned a reputation, and a loyal following, for the art of customized stained-glass windows. “It started as a quirky fluke request from a few customers, and it has caught on, in a big way,” he says.

Today, Rubaiyat features its own Stained-Glass Studio. David, son Crosby and local, skilled craftsmen create custom designed stained-glass commissions for architectural, religious and residential Calgary customers, and have designed, fabricated and restored literally thousands of square feet of stained, beveled, etched and painted glass. The Studio is also the largest supplier of stained glass in Western Canada.

Pam Haight mirrors the Rubaiyat uniqueness. She is blunt, candid, genuine and from the heart. “Our business has never been driven by money. It’s just a nice and unique space, offering special and wonderful items.”

Pam Haight mirrors the Rubaiyat uniqueness. She is blunt, candid, genuine and from the heart. “Our business has never been driven by money. It’s just a nice and unique space, offering special and wonderful items.”

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PAINTING WITH CERTAINTY

Listening to the customer is the key!

by John Hardy |

Published by Brittany Fouquette

Photos by Rebecca Hardcaslte

When it comes to residential and commercial painting, what’s in, what’s out, the styles, the colours, the shades and other options change. The skills, the experience, the work ethic and the reputation of the professionals are important constants.

Being reliable and consistent in our home city is an important difference. And very much a CertaPro edge. CertaPro Painters® of Calgary and Central Alberta is a locally owned and operated residential and commercial painting company.

“When all is said and done, reputation matters a lot,” says the upbeat and personable painting professional Justin Enns, owner of Calgary’s CertaPro Painters. Combined with the up-to-date skills and expertise, it is the reliable, straight-shooting and honest

Justin Enns

CertaPro professionalism that continues to earn the outstanding word-of-mouth and online CertaPro reputation as the most trusted and referred residential and commercial painters in Calgary.

“We are local to Calgary,” he notes with friendly high energy. “We live and work here. We know the Calgary area and we know the people. Earning our reputation, every day and with every job, is extremely important for us.”

Calgary’s CertaPro team has the unique local expertise and experience, and is knowledgeable about the latest and most suitable materials and techniques, as well as the wants, needs and details which are essential for the residential and commercial painting Calgary area projects like offices, family homes, HOA communities, medical facilities, retail stores, schools and even churches. “Of course, we are often asked to suggest and, even though it is ultimately a matter of the customer’s personal taste, we’re happy to draw on our experience and offer specific ideas and advice. We specialize in working with the individual customer.

“Listening to the customer is the key!” he notes. “We listen to people’s ideas and their specific situation. It is the best way to properly understand what they want and how they want it. After we understand – and if we are asked – we offer our professional input to help them make their decisions.”

No doubt about it. Paint choices and painting options are many.

Experts confirm that paint can make an enormous difference when changing an area’s mood and feel. Interior designers explain that paint can be transformative, whether it is a family home, a condo building, an office or a retail store. A professional paint job can enrich a space with attractive colour, energy and character, and make rooms and spaces feel bigger, brighter and warmer.

Trends can and do change. Colours, shades and subtle accents change. According to design specialists, when it comes to modern residential and commercial spaces, warm earth tones are back.

Like with most aspects of life, technology continues to significantly impact paint and coating materials and the professional painting service. Contemporary paint finishes go beyond just adding colour. They now offer features like protection, sheen and scrubbability, air quality and allergy benefits, greener and faster drying paint, eco-friendly solar paint, self-cleaning paint and even cooling, grip and other new concepts.

Justin Enns explains that technology is also enhancing the ways that the CertaPro professionals deliver the painting excellence. “Lasers and other measuring equipment helps

The team at CertaPro. Back Row: Audrey Geddes, Monroe Corbeil, Benjamin Fillekes, Brandon Corbeil, Daryl Haugan and Cam Schock. Front row: Mathew Lafrance, Abigail Clutterbuck, Kristijan Drinic and Justin Enns. Missing: Liam Hart.

with accuracy, and there is increased efficiency with some automated systems for scheduling and tracking our work.”

Ultimately, residential and commercial painting is a matter of personal preferences and style. The diverse CertaPro experience illustrates that it goes deeper. Professional painting is also a professional relationship and a positive customer experience.

“We’re so much more than painters,” he says with enthusiasm. “We are customer service experts. Whether residential or commercial projects, there is much to know.” The specifics of the work which needs to be done. Determining a budget. The most suitable products, the colours and the colour combinations which best fit the specific job.

For residential and commercial painting services, timing is critical, and CertaPro is uncompromising. “We customize the way we work with individual routines. Our key priorities are always being on time and on budget, paying attention to details and having a trusted relationship with the customer.”

He underscores the crucial importance of respecting agreed timelines, as well as the many intangibles. CertaPro customizes the way they work, and pays attention to details, big and small.

Painstakingly planning and doing the painting while carefully minimizing disruptions and accommodating the schedules and routines in offices, family homes, buildings and stores. Taking extra care to protect furniture and belongings. Expertly working with often tight deadlines for getting the painting done on-time, before a party or a big special event.

“Unconditionally always keeping the area clean is a must!” Enns stresses. “Aside from the painted area looking fresher, newer, better and attractive, it should feel like we were never there.”

Whether commercial or residential painting, the CertaPro professionals do the work with skill, precision and expertise, while making it positive, efficient and personal. Getting to know the major and subtle details of what is important for the customer is not only a CertaPro priority, but an effective way to ensure that the work happens according to plan.

As Justin Enns points out, the popular and much recommended CertaPro Calgary focus is about “arriving on-time, staying on-schedule and, because communication is so invaluable, keeping the customer informed. We stay in touch with the customer, we always deliver what we promise and we guarantee our work. It’s what we do and how we do it.”

He is candid about CertaPro’s uniqueness and competitive edge. “While not always common in our industry, we take a lot of pride in operating

CertaPro has been growing consistently in the Calgary market through its strong reputation. While they have long excelled with residential work, the team is experienced with and ready for large commercial projects and growing their commercial portfolio in general, delivering at a high level for customers.

The products, the techniques, cooperative people skills and a terrific work ethic are all vital aspects of the CertaPro Calgary reputation. Google and other social media feedback is potent testimonial.

“They showed up when they said they would and they did what they said they were going to do. The exterior of our house was prepped and painted in one day and it looks great.”

“Very pleased with the whole process, from the estimate to completion. The crew was on time and worked straight through to completion. Some small corrections were dealt with willingly and quickly.”

“We had our upstairs hallway and stairwell painted by CertaPro. They were very professional. The quote process was fast and easy. The painter was amazing.

He completed the job in one day. The quality is excellent. No mistakes or blemishes. I would absolutely use CertaPro again.”

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MULTIFAMILY –COVER TO COVER

Written by Rennay Craats | Published by Courtney Lovgren

Never underestimate the power of a green tea. After all, it was a green tea (and the conversation that accompanied it) that brought Lisa Russell out of her short-lived retirement as both Jason Fleury and Russell discussed their shared vision for building a cover-to-cover real estate company. It would start from a blank canvas, building an investment, development and property management company offering a one-stop shop. By the end of that visit in August of 2021, Russell and Fleury had mapped out their vision and set out to put together the ownership team that would bring that vision to life.

Photo by Riverwood Photography

Darcy, Lisa, Jason and Lizaine.

“Unitii Corp was born from a vision where ‘unity’ symbolizes the power of community coming together and ‘unit’ signifies the essence of multifamily real estate.”

On top of offering an investment and development division, Lisa Russell, CEO of unitii corp, felt that property management was underserved in Western Canada so by adding the property management division, it would complete the true cover to cover real estate offering.

Jason Fleury, president of unitii corp, and Darcy Durksen, VP developments, had worked together for much of their careers and they were excited to start a company that would add their expertise to complement unitii’s cover to cover real estate strategy, building multifamily housing in Western Canada’s communities. The team connected with Lizaine Wheeler, unitii COO, and it didn’t take much to convince her to take the entrepreneurial leap along with them. Within a month of that green tea meeting, the quartet had formed unitii corp’s ownership team.

The formidable foursome pooled their decades of experience in all areas of real estate, creating in essence three separate entities under the unitii umbrella; Russell is in charge of investment, Fleury and Durksen head development and Wheeler handles property management.

“Unitii Corp was born from a vision where ‘unity’ symbolizes the power of community coming together and ‘unit’ signifies the essence of multifamily real estate.”

The Vic – Property Management

The unitii team has the full package. They can take a piece of land through rezoning, vision and design to the build, lease it up, property manage and asset manage, or they can buy an existing asset, renovate and refinance, all under one roof.

The combination of skill sets of the ownership team, along with the collective relationships they had fostered over decades in the business, meant unitii wasn’t a standard startup. The company came online armed with a robust contacts list made up of previous employers and colleagues, vendors and professional services, all of whom were key in unitii’s successful growth to date. Their individual reputations transferred to unitii, and clients and vendors didn’t hesitate to get onboard. The unitii team together has bought, built and managed thousands upon thousands of units throughout their careers.

That’s saying something, as unitii is already one of the emerging leaders in third-party property management companies in Western Canada, handling more than 2,500 units in about 30 properties across Calgary and Edmonton, with another 1,000 coming on shortly. On the development side there are about 1,200 units currently under construction, building for

Photos by Riverwood Photography

Above: Lisa and Jason. Below: Darcy and Lizaine.

Unitii reached the goal of acquiring its own building as well. In 2022, the company’s investment division put its first offer out to acquire Chelsea Estates, an asset in Calgary’s Beltline with 179 units. That acquisition perfectly illustrates the collaborative nature of unitii; the company bought the property, completed suite and common area renovations, is currently refinancing the building, as well as property managing and asset managing it. The investment team has already successfully subdivided the excess land since the January acquisition. This acquisition is the first of many to come for unitii.

building in coveted communities in Calgary’s Mission, Kensington

Each division shares their expertise with owners and developers and is proud to provide top service to every client.

“We can replicate this process over and over again. We really complement each other’s different divisions. It’s a great example of how our entire team has been instrumental in the success of the Chelsea Estates value add project,” says Russell.

Each division shares their expertise with owners and developers and is proud to provide top service to every client. The development and property

management divisions pass along their volume discounted savings to their partnerships, both owner and residents, from operating expenses such as insurance and utility expense to volume rates on development such as concrete, lumber and mechanical/electrical.

“It all stems back to the vendors and relationships that we have established over our careers, allowing

Photo by Riverwood Photography. Jason, Darcy, Lisa and Lizaine.

Lionhead Mechanical

Calgary, AB T2C 2X3

403-245-5466

info@lionheadmechanical.com

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Wheeler.

Relationships are critical, and unitii’s portfolio shows how strong the founders’ industry relationships were before striking out on their own. Their professional careers have allowed them to work with many of their past colleagues. These strong relationships helped launch unitii corp quickly and contributed to its incredible growth in its first two years in business.

In those early days, they didn’t draw a salary and just dug into the work of building the company from the ground up. They wore many hats and found themselves in unfamiliar waters as they prepared their website, set up their IT systems, got the required brokerage and property management licenses and brainstormed the kind of people they would need on their team to make it all work. They met in their first office and set out their goals for the first year: to acquire one building, manage 1,000 rental units and have 250 units in construction. They achieved that and more, and the phone starting to light up with not only clients wanting unitii to build for them or manage their properties but also industry professionals who wanted to be part of the journey and partner with them. The founders were not interested in

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We are proud to be a part of your success.

Three of the four were at a stage in their working lives where the glimmer of retirement was becoming a bit brighter. It took something special for them to transition from winding down to building something from scratch, and unitii provided that draw for the founders as well as the team they’d come to build around them.

Even in a challenging hiring market, unitii attracted the cream of the crop of both younger professionals starting out and seasoned industry professionals eager for a fresh start at a fresh company. The owners slowly assembled an incredible team of likeminded, talented people. As the business rolled in, the company grew exponentially.

Today, unitii has a head office in southeast Calgary and a regional office in Edmonton to accommodate its 75 employees, many of whom

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worked with one or more of the executive team over the years and some left higher paying jobs to be part of what the unitii team were doing and how they are doing it.

“We’ve created an environment where our employees feel they are part of a team. We’re a mid-sized builder and our new hires are looking for growth and opportunity,” says Durksen. “Our staff has a feeling that they belong.”

It’s in the corporate DNA to create an environment of collaboration, respect, excellence and a lot of fun, all the while passing expertise on to the younger generation so the company will flourish over the long term. Because of that, the founders’ vision of creating a generational company that will positively impact the industry and the community is being realized.

“If we can teach them to be corporate leaders, good corporate citizens, and show how they can give back to their community, we’re doing something that will outlast the company,” says Fleury.

The staff is truly a team, working together to better serve the needs of the Alberta and British Columbia markets as the company grows. The founders know they couldn’t have grown unitii so quickly and enjoyed such success without the people who have shaped their careers over the decades and continue to support them.

The unitii team is grateful to all of the iconic real estate mentors who have impacted their lives over the years, sharing leadership skills and their deep understanding of the real estate industry. As well, they want to thank their industry friends who have been supporting them along their journey: legal, financial, property tax experts, insurance, brokers, consultants and engineers, suppliers and trades, and of course their team.

The multifamily industry is full of opportunity and unitii corp is looking forward to a very bright future delivering exactly what the founders envisioned: a cover-to-cover company built on a foundation of service, community and relationships that are built to last.

Rhino Finishing Materials is proud of our partnership with Unitii!

WE SELL CALGARY APARTMENTS! #101 253 62 Ave SE Calgary, AB T2H 0R5 877-460-2910 • unitii.ca unitii • celebrating business excellence 8

TO THE ENTIRE TEAM AT UNITII WE ARE PROUD TO BE PART OF YOUR SUCCESS!

“We’ve created an

“Our staff has a feeling that they belong.”

Meet you there.

TENANT OFFICE SPACES, NOW AVAILABLE FOR LEASE

Cadillac Fairview’s success can be attributed to three basic fundamentals: an unmatched commitment to building exceptional properties, the quality and dedication of its people, and an unwavering belief in the future. It is these fundamentals that tenants experience every day at our four Calgary O ce Properties: Shell Centre, Calgary City Centre, Encor Place, and 635-8th Avenue. Tenants feel the pulse of community the moment they walk into the lobby. The dedicated Calgary O ce Properties sta provides a comfortable work environment, so tenants can focus on their own business without any concerns. From bike parking, secure security, fitness facilities, meeting spaces and nearby convenient amenities, and much more, Calgary Properties has everything an o ce tenant may require when coming back into the workplace. From 1,500 square feet to 100,000 square feet, Calgary Properties has it all. Learn more by visiting cfo ce.ca or contacting Guy Priddle directly. Meet you there.

Guy Priddle Director O ce Leasing, General Manager (403) 571-2528

guy.priddle@cadillacfairview.com