Business in Calgary - September 2023 by Business in Calgary

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NAVIGATING THE DILEMMA: BUY FIRST OR SELL FIRST?

IN THE CURRENT FAST-PACED REAL ESTATE MARKET, SHOULD I PRIORITIZE BUYING A HOUSE FIRST OR SELLING MY EXISTING ONE? Given the current landscape of the real estate market, buying a house first has emerged as an attractive option. This approach grants you the luxury of time, enabling you to explore the market and identify your dream home without the pressure of immediate relocation. It also ensures you can remain in your current residence until your newly acquired property is ready for occupancy. However, before plunging into this strategy, there are key steps you should undertake.

FINANCIAL PREPARATIONS

Begin by consulting with your lender to confirm your eligibility for a new mortgage while retaining your existing one. Understand the financial implications of buying first, including potential payout penalties. Explore the option of porting your current mortgage rate to the new loan. Be aware that in order for you to retain this interest rate you typically have a window of 60-90 days to complete the sale and purchase.

BE FIT TO SELL

Be prepared to sell immediately upon purchasing a new home. This entails diligently addressing home maintenance, repairs, decluttering, staging and even conducting a pre-sale home inspection to address any potential issues that a buyer may see as a challenge. Ordering an updated real property report adds to your readiness. Determine which real estate agent will be representing your home and the listing price in advance so that marketing materials such as photographs, videos and brochures can be prepared in advance.

TEMPORARY MOVES AND POSSESSION DATES

Be ready for the possibility of moving twice. When you sell you may have to accept a possession date that is before you get possession of the home you are moving into. Prepare contingencies such as temporary rentals or storage solutions to ease this transitional phase.

WHEN BUYING FIRST ISN’T FEASIBLE

For those unable to adopt the “buy first” strategy, there are practical alternatives to consider: • RESEARCH: Educate yourself by exploring property prices and types, ensuring you’re not taken aback by sticker shock or disappointment once you are ready to purchase. • COMPETITIVE PRICING: Price your existing home competitively to attract potential buyers swiftly. • TIMING: You should always sell according the the prime season for your property type. For instance, acreages and lakefront properties sell best in the spring and summer. • PROLONGED POSSESSION: When selling, negotiate a prolonged possession day to grant yourself the time required for house hunting and moving preparations. As you stand at the crossroads of this crucial choice, it’s essential to consider a range of factors to make an informed decision that aligns with your financial well-being and personal circumstances. We understand the intricacies of today’s real estate market and are here to ensure you make the right choice that aligns with your goals.

DON’T LET THE MARKET FRENZY OVERWHELM YOU. REACH OUT FOR PERSONALIZED ADVICE TAILORED TO YOUR REAL ESTATE NEEDS.

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The Craftsman-style details of this home in the exclusive pocket of East Elbow Park exude charm and timeless elegance. With beautifully landscaped outdoor spaces surrounded by a brick privacy wall and a host of exquisite features, this property is a true gem that will capture your heart. Host gatherings in the formal living room and dining room. Step out onto the stone patio, dine al fresco under the boughs of the mature trees or warm yourself beside the outdoor fireplace. The heart of the home is the open-concept kitchen with its high end appliances and central island, the spacious nook, and adjacent family room. For those seeking a peaceful workspace, the den offers a serene environment with shelves and a fireplace. The second floor has a generously sized primary bedroom featuring two walk-in closets, a window seat and an ensuite complete with steam shower, luxurious tub under a skylight and double vanities. Two more wellappointed bedrooms each come with their own bathrooms and share a private balcony. The fully developed basement offers a recreation room, theatre, three more bedrooms, a bathroom and wine cellar. This lovely home with vintage charm caters to the needs of today’s modern family.

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Welcome to this lovely Cape Cod style home, a perfect oasis for a growing family. The living room boasts a soaring ceiling and a gas fireplace. A tastefully appointed kitchen with white cabinetry, a wood island, hammered metal hood fan, and stainless steel appliances is where everyone will gather. The versatile flex space can serve as a formal dining room or a functional home office. On the second floor you’ll find a well-thought-out layout designed to cater to the needs of a busy family. Three bedrooms and two bathrooms provide ample space, and a family room overlooking the main floor offers a cozy retreat. The third floor is dedicated to the primary suite, a sanctuary of relaxation and comfort. The walkout basement is an entertainment haven, complete with a large recreation room, wet bar, and gym/games room, a fifth bedroom and bathroom. The detached triple garage offers ample space for car enthusiasts. Situated in a family-friendly neighbourhood, this home is close to schools, parks, and playgrounds. This delightful home offers an exceptional living experience for a family looking to create lasting memories.

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Designed by Jeremy Sturgess and located in the heart of Mount Royal. This corner lot has exceptional curb appeal, a hedged perimeter and rock garden walls. The living and dining room are the perfect spot to host small or large gatherings with friends. A classically appointed kitchen features white cabinets and a granite topped central island. The adjacent sun-filled family room has a wood burning fireplace and the floor to ceiling windows in the nook bathe the space in natural light. Upstairs, the primary bedroom awaits, featuring a vaulted ceiling, walk-in closet, and five-piece ensuite with skylights, providing a serene and private retreat. There is a dedicated office space and two more bedrooms ideally sized for children or guests on this level. The fully developed basement has a recreation/fitness room, a fourth bedroom, full bathroom, and ample storage, providing flexibility for various needs and activities. This property has a spacious, attached, under-drive double garage with a mud room connecting to the basement. The desirable location, the gorgeous outdoor living areas and the short walk to schools, parks, restaurants and the downtown core make this home a one-of-a-kind.

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How Did We Get Here? By Shane Wenzel

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Unlocking Canadian LNG Aids Both Local and Global Environments By Cody Battershill

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Chinook Pumps

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he Transforming Energy T Construction Sector

algary’s Red Hot C Rental Market The perfect storm of Calgary housing affordability By John Hardy

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Calgary’s Manufacturing Edge The sometimes overlooked business sector By John Hardy

The energy construction bottom line By John Hardy

Celebrates 60 Years

Hemisphere Capital Management Inc.

State of the Core Experts cite positive signs in Calgary’s downtown office sector By Jamie Zachary

Prioritizing Employee Health and Wellbeing Workplace health and wellness is a win-win! By John Hardy

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Small but Mighty Calgary’s entrepreneurial spirit on display as Small Business Week returns By Jamie Zachary

THE AUTOMOTIVE

GROUP THAT FAMILY BUILT BY RENNAY CRAATS Staff from the Wood Automotive Group, Cavalcade Auto Acceptance and flagship dealership Woodridge Ford Lincoln celebrate 40 years of service.

WOOD AUTOMOTIVE GROUP // CELEBRATING 40 YEARS

The original Woodridge Ford Lincoln location on MacLeod Trail South and the new Woodridge Ford Lincoln location in Douglasdale.

erry Wood never set out to become one of Alberta’s largest automobile retailers. He planned to arrive in Canada from Scotland, travel the country and then head to Papua New Guinea to visit his brother. He made it as far as Calgary in 1969 before he ran out of money. Gerry sent word of his predicament home and when his message, “No mon, no fun. Your son,” elicited a response of, “Too bad. So sad. Your dad,” Gerry knew he would have to find a way to make his own way in life. Gerry used his Scottish heritage and experience working at his father’s small Ford dealership near Glasgow to land a job in sales then management at Maclin Ford in Calgary. In 1972, Gerry met the love of his life, Elaine, and they started planning their life together. From the beginning, they formed a powerful partnership, growing their family as they were growing their company. “Gerry is a man who is driven, and every day is an adventure,” says Elaine Wood. That drive impelled Gerry to use every dollar he had and then some to purchase a General Motors dealership in Vulcan in 1979 and with Elaine by his side – and a lot of hard work – the dealership was successful.

THE EVOLUTION OF WAG Southridge Lincoln Mercury of Calgary was struggling, and Ford of Canada knew Gerry was the right man to turn it around. He was offered the business with a long-term building lease and had to come up with 20 per cent of the operating company with the balance paid over four years. “We begged and borrowed to get our first dealership and we didn’t have a lot of money when we were coming back to Calgary, but we sold a lot of cars along the way,” says Gerry Wood, founder and president of Wood Automotive Group (WAG). Southridge became Woodridge Ford Lincoln, and in his early years at the helm, Woodridge recorded the highest sales volume of new Mercury and Ford cars in Canada and became Ford’s top leasing dealer in the country. He became the first dealership to offer service on Saturdays and partnered with an import dealership to add Village Honda to his portfolio in 1987. He led fearlessly, pushing beyond expectations while providing incredible personalized service. When Ford was establishing another dealership in Calgary, Gerry was first in line. After all, he owned the

WOOD AUTOMOTIVE GROUP // CELEBRATING 40 YEARS OF SERVICE // 2

dedicating herself to a myriad of charitable efforts to raise up the communities around them. It’s fitting that the Group bears the Wood name, as every member of the family has poured themselves into making it a success.

The new Village Honda location in the Northwest Auto Mall.

Gerry and Elaine’s sons, Cailean and Rory, worked their way up the company and are now executive leaders dedicated to continuing WAG’s focus on family, community, customer relationships and operational excellence. Their daughter, Megan, is the shining star in administration who keeps her brothers on their toes and a smile on everyone’s faces. The Wood children carry their parents’ high service standards and customer-first approach in their DNA, which ensures WAG is in great hands. The entire team refuses to rest on its laurels and is committed to measured growth as it charges into the future. “We’re constantly on the hunt for future acquisitions but we have to make sure they fit into what we’re about. We’re not going to put ourselves in a position that forces us to compromise who we are,” says Rory Wood, vice president parts and service, WAG.

1987, Calgary Flames players Mike Vernon, Brett Hull and Tim Hunter join the Sunshine Girls, Sales Manager Joe Chiarizio and Gerry Wood at the opening of the original Village Honda.

leading dealership in town and in 1991 had expanded his brand with the opening of Woodridge’s satellite store, Okotoks Ford Lincoln. Ford made the only decision it could. “We awarded Gerry two stores in Calgary, and it’s a very rare situation to give one dealer two stores in the same location. But because of his abilities and success, we did it,” says Jim O’Connor, long-time Ford of Canada executive.

Who they are is a family of 650 people who proudly walk through the doors of WAG locations daily. They work with and not for the Wood family, who in turn value their team and do all they can to facilitate their happiness and success. WAG promotes from within whenever possible, investing in and nurturing their staff. “The WAG staff is the WAG family because we all work together as a team. We are ‘Gerry’ and ‘Elaine,’ not Mr. and Mrs.,” says Elaine. She says it’s the details that make the difference, and “when we go the extra mile, there’s never a traffic jam.”

With Ford’s blessing, Advantage Ford joined the Wood Automotive Group in 1995 followed by Big 4 Motors in 1996, the Driverz Auto preowned showroom in 2015, South Centre Volkswagen in 2021 and Okotoks Volkswagen – the first VW satellite store in Canada – in 2022. These incredible achievements wouldn’t have been possible without the tireless efforts of Elaine. She’s been Gerry’s right hand for 50 years as they weathered the tough times and celebrated the victories together. She offered input to grow the business while taking care of everything at home and

The Plan – Woodridge’s ground-breaking two-year lease program was tops in all of Canada.

WOOD AUTOMOTIVE GROUP // CELEBRATING 40 YEARS OF SERVICE // 3

September 2009 - Calgary Flames President Ken King and Calgary Flames General Manager Darryl Sutter present the official Calgary White Hat to Ford of Canada President David Mondragon at the grand opening of the Woodridge Ford Lincoln new location in Douglasdale.

While their product is automobiles, the company is built on relationships, and whether that’s with manufacturers, customers or between colleagues, these relationships are strong and enduring. The WAG family shares in life’s celebrations and challenges, and the culture of inclusion, respect and family permeates from the top down making WAG an exceptional organization to be part of. This is evidenced by the fact that not only does WAG have customers dating back decades, but the Group also has many 20-, 25- and 30-year employees who have spent their entire careers working for the company. These employees helped build the company’s allencompassing services with the All Makes Collision Centre, Woodridge Ford Fleet, Wood Auto Rentals, the used car Megalot, Cavalcade Auto Acceptance, and seven independent dealerships. The Group has renovated or built new facilities for a number of dealerships to better serve customers, and, after the success of South Centre Volkswagen, VW recently awarded WAG with Calgary’s newest Volkswagen location. This unique dealership will join Big 4 Motors as anchor tenants at Taza Park on the Tsuut’ina Nation in 2024.

October 1995, Calgary Mayor Al Duerr, Ford of Canada President Mark Hutchins, Gerry’s father James Wood, General Manager Dick Lau and Gerry Wood cut the ribbon to open Advantage Ford.

The car industry is always evolving and with the growth of electric vehicles, automation and technological advancements, Wood Automotive Group remains on the cutting edge. Gerry has always been a student of the business and a visionary for the industry, bringing innovation and out-of-the-box thinking to customers for their benefit.

WOOD AUTOMOTIVE GROUP // CELEBRATING 40 YEARS OF SERVICE // 4

2003, Gerry, Elaine, Megan and Cailean Wood unveil the new Woodridge PREP Centre sign.

“Gerry is a forward thinker in the business, and he garners such respect, both from his local community and within corporate organizations like Ford. His opinion was always sought out, whether it was in building business strategy or discussions that needed to be had with government,” says Gerald Wood, president of the Motor Dealers Association of Alberta and long-time Prairie Region Manager for Ford of Canada. That respect landed Gerry and his executive team on various boards and committees over the years including the National Dealer Council and the Canadian Automobile Dealers Association. WAG is also a long-time supporter of the automotive business administration, marketing and trades programs in Alberta’s postsecondary institutes as well as automotive training programs in high schools to keep funnelling great people into the industry. Gerry’s leadership and hard work led to him receiving countless excellence awards and honours, most notably being given Ford of Canada’s Top President’s Award 15 times over the years, being inducted into the prestigious Calgary Business Hall of Fame in 2017 and being appointed a Member of the Order of Canada in 2018 for his incredible philanthropic contributions.

Ford of Canada President Jim O’Connor was Gerry’s special guest at the Woodridge Charity Golf Tournament.

The Wood family; (back row L-R) Cailean Wood, Amy Wood, Gerry Wood, Elaine Wood, Rory Wood and (front row) Megan Wood

WOOD AUTOMOTIVE GROUP // CELEBRATING 40 YEARS OF SERVICE // 5

The Wood Family has donated almost $1.5 million dollars for The Salvation Army Community Resource Centre in the SE community of Forest Lawn.

WAG GIVES BACK Philanthropy has been an important element of the Wood family’s success. Coming from humble beginnings himself, Gerry honours those who helped him by paying it forward.

Over the years, WAG has donated more than $15 million to various organizations and continues to give both time and resources to help those in need. “We don’t advertise it a lot. We care about people, and we are in the community to be of service,” says Elaine.

Gerry’s father was the only car dealer who would customize vehicles with hand controls or foot steering for people with disabilities, so Gerry was exposed to helping others early on. He believes “you have to give to get” and he has put that adage into practice.

They’ve always helped others but having their daughter, Megan, grounded the couple and changed how they approached their business while reinforcing the need to give back. When Megan was born there weren’t many resources for children with Down syndrome and their families. Elaine and Gerry discovered The PREP Program, an organization that provides educational and therapeutic support to empower children with Down syndrome to be active members of the community. It opened new doors for Megan.

The family’s impact is felt through their support of hundreds of local charities, from sponsoring amateur sports teams to donating to major charities to stocking food bank shelves. One of Gerry’s favourite partnerships is with Kidsport; people drop gently used sporting equipment at dealerships and, to date, they have distributed 12,000 pieces of equipment to keep kids on the court, floor, field or ice.

The Woodridge Charity Golf Tournament became a successful fundraiser that ran from 1985 to 2015. Proceeds went to establish the Woodridge PREP Centre, where hundreds of children and their families find valuable resources and workshops that help Down syndrome children build critical life skills. As Megan has grown up, graduated from PREP and then college and become a valued part of WAG, she has also become a role model for children with Down

“The community has done so much for us as a family and we feel it’s very important and our duty to give back to the community,” says Cailean Wood, vice president sales and marketing, WAG.

WOOD AUTOMOTIVE GROUP // CELEBRATING 40 YEARS OF SERVICE // 6

The WAG dealerships are official drop off locations for the Calgary Flames Sports Bank and KidSport Calgary, delivering more than 12,000 gently used items – so all kids can play.

syndrome along with an inspiration to everyone in the company. The family has also left their mark on the Salvation Army, with Gerry serving on its Advisory Board since 2007 and supporting the organization’s campaigns. Better still, his involvement with events like the Christmas Kettle campaign influences other sponsors to participate, bringing in even more funds. “We are honoured and proud to have Gerry Wood and the Wood Automotive Group as long-time supporters of ours,” says Lt. Colonel Brian Venables, Salvation Army acting commander, Alberta and Northern Territories division. “Without the Woods, it would be tougher to raise money. We are indebted to them.”

The Woodridge Charity Golf Tournament raised millions of dollars for the Woodridge PREP Centre, a school and resource centre for Down syndrome students and their families.

The family is happy to help. When they heard that the Salvation Army was hoping to bring multiple missions under one roof, they jumped into action. With friend Dick Van Grieken of Telsec Property Corporation, they purchased a former Target location in Forest Lawn that the Salvation Army could repurpose as a community resource centre offering literacy and English as a second language programs, counselling, food distribution and a youth centre. With the Wood family’s help, the Salvation Army has the space to grow its programs to better help the community. “Our parents have always taught us to look out for people who may need some help and I’m very proud of how we step up to support the community to make Calgary a better place to live,” says Megan Wood.

July 2022: Cutting the ribbon to officially open Okotoks Volkswagen, the newest member of the Wood Automotive Group.

WOOD AUTOMOTIVE GROUP // CELEBRATING 40 YEARS OF SERVICE // 7

Big 4 Motors, the first Chrysler Dodge Jeep and Ram dealership in Canada build entirely on Indigenous land is set to open in Taza Park on the Tsuut’ina Nation.

THE NEXT CHAPTER OF WAG There are few dealers in Canada who have had the kind of industry and community impact that the Woods and the staff at WAG have had. Over the past 40 years, the Group has grown and evolved bringing Calgary drivers the gamut of car brands and models backed by WAG’s brand of superior service.

Even though Gerry Wood has stepped back from operations, it will be business as usual for clients and staff; his children and their exceptional team are ready to take the Group to the next level. Using their parent’s example of hard work and a commitment to people and community, Cailean, Rory and Megan, and the generations that come after them, are just getting started. The future is very bright for the Wood Automotive Group and the legacy of care for others lives on.

Powered by Wood Automotive Group Wood Automotive Group • Woodridge Ford Lincoln • Advantage Ford • Okotoks Ford Lincoln • Village Honda • Big 4 Motors (Chrysler Dodge Jeep Ram) • South Centre Volkswagen • Okotoks Volkswagen • Driverz Auto • Cavalcade Auto Acceptance • All Makes Collision Repair Centre • Wood Auto Rentals

11580 24 St SE, Calgary, AB T2Z 3K1 403-640-8494 • www.woodautomotivegroup.com WOOD AUTOMOTIVE GROUP // CELEBRATING 40 YEARS // 8

WESTERN HOSPITALITY GETS A WORLD-CLASS EXPANSION The BMO Centre to Become a Convention Destination Written by Rennay Craats | Published by Brittany Fouquette Photos by BOOKSTRUCKER

here are so many reasons for visitors to come to Calgary for work and recreation and, starting next summer, the BMO Centre will provide yet another compelling reason for businesses to check out the city. After years of planning, design, demolition and construction, Calgary’s largest meeting venue is getting even bigger. It is doubling in size to more than one million square feet to accommodate hosting large conventions. The expanded BMO Centre will be unrecognizable. In 1980, the building was originally known as the Round Up Centre, an agriculture building with a show arena surrounded by stalls. “It took about zero months to figure out that there was a need in Calgary for trade and consumer show space, so it quickly turned into that kind of space,” says Greg Newton, General Manager, BMO Centre & Stampede Park Events. BMO Centre •1

Between 1980 and pre-expansion works, the Calgary Stampede added an impressive ballroom here and an additional exhibition hall there to accommodate the growing needs of the community over the years. In pre-expansion capacity, this fantastic venue hosts over 1,200 events annually, including corporate Christmas parties, fundraising galas and trade exhibitions. Last year, Stampede Park was home to sets for the acclaimed HBO series The Last of Us.

Construction activity tips 600 workers per day, six days a week.

There are more than 150 lifts on site every day, with 80% of work taking place at a height of at least 20 ft.

Even with these updates, what continued to elude the venue was convention business; the BMO Centre lacked the ancillary meeting rooms and space required to transform it from an exhibition centre into a legitimate convention centre. In 2015, the organization made it a priority to change that, and with support from all three tiers of government, they spent the next several years amassing an incredible team that would make the vision a reality. Given the scale of this project, multiple partners and three architecture firms have worked in partnership to design the spectacular space, led by Calgary Municipal Land Corporation with doing the heavy lifting of enabling works to prepare the building. To design a next generation world-class convention centre, a team was formed between Albertabased S2 Architecture, Calgary-based Stantec and Kansas City architecture firm Populous, which specializes in convention centres and stadiums with T-Mobile in Las Vegas, the International Convention Centre in Sydney, and the Olympic Stadium in London gracing its portfolio of projects. Rounding out the team is project manager M3 Development and construction manager PCL Construction along with multiple sub-trades. Together these professionals are bringing to life a spectacular design that marries function and beauty to produce a stunning addition to Calgary’s Culture + Entertainment District. “We think it’s a really striking building,” says Newton. “Convention centres can be big and bland and lack personality. We’ve added a ton of personality to this venue. It’s going to be absolutely stunning.”

Exterior work continues under the Pavilion arm and a grand staircase.

2 • BMO Centre

It is already eye catching, with its mix of materials that blend the old space with the new on the bottom before presenting something altogether different in the form of the sweeping metallic embellishments

When complete, the Pavilion arm will feature more than 10,000 lights.

on top. The grey brick is a nod to Alberta’s history of grit and determination, while the various shades of copper found on the upper portion of the building not only pays homage to Stampede belt buckles but are also a throwback to the early days of the fair when visitors could crank pennies through a machine to press them into souvenirs. The copper canopy slopes down into two columns at the new entrance, one of which is perforated with LED lights that extend across the canopy to create a stage situated in front of a green space out front. This area also features a grand staircase, which will be an excellent opportunity to showcase performers such as the world-champion Calgary Stampede Showband. Greg Newton, General Manager of the BMO Centre. As remarkable as the outside is, the inside is even more impressive. Every element contributes to making There are unexpected touches at every turn. A the spaces both welcoming and functional. The new 3,000-square-foot corner meeting room opens to a private structure consists of three levels – 350,000 square outdoor balcony that is 11,000-square feet in size, fully feet of contiguous exhibition space on the ground floor, plumbed and ready for gas heaters, bars and BBQs. 38 state-of-the-art meeting rooms on the second floor bathed in natural light from a ribbon of windows, and two “It’s a little gem. People are going to look at this and say it’s spectacular ballrooms totalling 70,000 square feet on the not like any other convention centre they’ve experienced,” top floor. Newton says.

BMO Centre •3

The BMO Centre expansion, just under one year from completion.

Another gem is the Exchange, a 25,000-square-foot lobby space that features a huge skylight that helps illuminate the incredible furniture and cocktail bar right outside the meeting rooms. The Exchange’s focal point is the 70-foottall fireplace and, just as fires have done since the beginning of time, this amazing feature inspires people to sit down, share stories and engage in conversation. “What happens in the meeting rooms sparks ideas, and that is important, but the magic happens outside the meeting room when people come together in dialog,” he says. “When you’re in a convention you’re celebrating successes and sharing failures in an educating format, and that fire is something that anchors that.” There is an energy in this area that spurs connections that encourage delegates to stay on site. To that end, there are small breakout rooms where attendees can slip off for a private Zoom or phone call rather than returning to the hotel after sessions. As a result, this produces a high-level experience for participants and a successful event for the organizers. Having a world-class convention centre will deliver a positive economic punch for Calgary, from tourist dollars

spent in the community to placing the city top of mind for delegates considering business expansion opportunities, transfer possibilities or even their next vacation. The BMO Centre partners with various local agencies to showcase what Calgary has to offer, and contributes to building the city’s brand recognition in order to facilitate significant future growth. Additionally, the BMO Centre will be able to provide Calgarians with more than 1,500 permanent yearround jobs by including convention season to the trade and consumer exhibition calendar. “This exciting project is going to have a macro-level impact on the city of Calgary and the province of Alberta,” says Greg Newton. When it is completed in June 2024, the BMO Centre will be the largest convention centre in Western Canada capable of hosting large national and international events, with a capacity to accommodate 33,000 guests at once. Additionally, 34 organizations have made reservations as far out as 2032 to hold their conventions in Calgary. All eyes are on Calgary, thanks to the well-deserved buzz that has spread across Canada and around the world, and the BMO Centre team is eager to welcome them to experience its brand-new, world-class convention centre for themselves next summer.

20 Roundup Way SE, Calgary, AB T2G 2W1 • Phone: (403) 261-0101 venues.calgarystampede.com/event-spaces/bmo-centre 4 • BMO Centre

Better Together: Inspiring Innovation Bow Valley College student Rafael Bertini is interviewing Alberta’s Black entrepreneurs about their experience starting up their own business or scaling up an existing business. Bertini, a student in the Business Administration Diploma — Integrated Marketing Communications Major is also an intern on a project called “The barriers experienced by Alberta’s English-speaking immigrant Black Canadian Entrepreneurs.” The project aims to provide market research to non-proﬁts who provide entrepreneurial training and development programs for English-speaking immigrant Black entrepreneurs in Alberta. Mitacs, an organization that empowers Canadian innovation through effective partnerships that deliver solutions to our most pressing problems, provided funding for the project. It’s one of ﬁve Bow Valley College projects the company funds. The other Mitacs-funded projects include OLab in partnership with the University of Calgary, which employs a Bow Valley College software development student; 404 Movers, a local moving company who has hired two software development interns to build a website and mobile app; Fitzba Technologies, where digital design and digital marketing interns are redesigning the company’s website and supporting digital marketing campaigns;

Fluid Planet, an AR/VR project that uses interns from the Bow Valley College Centre for Entertainment Arts; and Room Marketplace, where a software development student is building a digital marketplace for long-term room rentals in Calgary. “The value to the students is they get a paid work-integrated learning experience that is directly related to their field of study,” says Tony Wigglesworth, Associate Dean, School of Technology and Centre for Entertainment Arts at Bow Valley College. “They're able to build their resumé and have a real project to showcase in their portfolio. And I think that experience can really help them land a full-time employment opportunity within their chosen field.” The small businesses benefit too by hiring funded student talent to help them overcome their challenges and getting the opportunity to work with a potential future employee. Explore Business, Technology, Entertainment Arts and other programs at Bow Valley College at: bowvalleycollege.ca

PUBLISHERS

Pat Ottmann & Tim Ottmann

EDITOR

Melanie Darbyshire melanie@businessincalgary.com

COPY EDITOR Nikki Mullett

ART DIRECTOR

Jessi Evetts jessi@businessincalgary.com

ADMINISTRATION/ACCOUNTING info@businessincalgary.com

REGULAR CONTRIBUTORS Shane Wenzel Cody Battershill David Parker

THIS ISSUE’S CONTRIBUTORS Melanie Darbyshire Rennay Craats Jamie Zachary John Hardy

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Cover photo courtesy of Junior Achievement of Southern Alberta

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SEPTEMBER 2023 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

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HOW DID WE GET HERE? // SHANE WENZEL

How Did We Get Here? BY SHANE WENZEL

ome days it feels like our country cannot survive if the Trudeau Liberals are in control for another four years, and even six more months may be too long. Trudeau’s approval rating worldwide has shrunken to embarrassing levels abroad, and at home he appears to be attracting protesters at every stop. One of his latest insults to Canada is changing the way eager new Canadians take their oath to become Canadian, which many have described as one of their proudest moments. Posing for pictures holding little Canadian flags with other new Canadians to send ‘back home’ is optional. Just apply online. Not to mention, he changed some words in the National Anthem for the second time. How much longer under his watch before there is no Anthem, or even ‘little flags and pictures’? Lecturing other world leaders on what he considers their flawed policies hasn’t helped his popularity worldwide either. Joining in all of these surprising Canadian antics are some new local ideas resulting from a multiple-year study. The idea of 15-minute cities has evolved where every new community resident will be able to live, work, shop, dine out and ‘’pubit’ in its own compact setting. Residents could potentially live their lives without venturing outside their community. It sounds like you could possibly live through generations inside your designated ‘turf’. Biking, walking or transit would be the preferred transportation. The latest shocker out of this lengthy study we hear is the possibility that new and redesigned old developments could not include single family homes. Highrises and attached housing would work just fine. Now, that ‘middle of the night idea’ has already been met with strong opposition. So, let’s hope that idea is going nowhere in the best rated city in

Canada to live according to 2022 world standards. Don’t we have one of the largest uninhabited land masses in the world? Let’s hope that idea never gets past first mention. Maybe the ‘powers that be’ will be satisfied with just building the most expensive and potentially problematic expensive ‘Green Line’ in Canada. Affordable/subsidized housing is next on the list, and the most perplexing to solve it seems. So far, spending millions of dollars repurposing unused downtown office towers into living complexes on the most expensive land in the city is underway. People in the building industry with more expertise are shaking their heads in dismay as the costs for renovation skyrocket. But then if you don’t have a controlled budget what does it matter? Blowing down old buildings to start anew is noisy. However, we aren’t alone in silly times, just look around Canada at other so-called ‘innovative ideas’. Toronto is talking about banning two-engine leaf blowers, snow blowers and other small engine equipment under the guise of ‘Climate Action’. Again, to accommodate someone’s Impact Study on climate, air quality, health and noise. Leaf blowers alone are considered an ‘egregious extra assault’ on residents. Chainsaws for cutting trees, snow blowers, garden rototillers, among others, are on the extinction list. Get out your scissors, grandma’s hedge clippers and hoe if you are planning a garden or a respectable lawn. But that’s Toronto, and surely not in danger of coming to Calgary, right?

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.

BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // SEPTEMBER 2023

FALKBUILT: DESIGNS FOR A CHANGING WORLD by Nerissa McNaughton

alkbuilt is an innovator in interior construction, using technology to create efficient, sustainable, high performing and acoustically sound designs for commercial, office and healthcare spaces. The key is Digital Component Construction (DCC), which takes traditional construction practices and marries them with technology to design, create, ship and install with greater efficiency, accuracy and far less job site waste. DDC is empowered by Echo, a cloudbased technology that allows Falkbuilt to deliver products and services with exacting precision. Mogens Smed, CEO, launched Falkbuilt in 2019. “The reason we started this business is because of one word – technology,” says Smed. “Not just the technology we use to drive our solutions, but the technology that allowed us to take our business from $0 to $100 million in three years while doing installations in Antarctica, Germany, India, Chile and across North America.” Smed continues, “Just 10 years ago AI, big data and even the cloud were not like they are today. The timing for Falkbuilt is really good; the innovations in the digital sphere allowed us to build a business very quickly and reliably. We have more than 20,000 pieces on the factory floor and we know exactly where each one is and what it does. That is unlike anything we could have done in the past.” He further describes how technology has changed the construction industry, saying, “Falkbuilt is in the pre-fab business and pre-fab has been around since the early 1900s. However, until recently, pre-fab has not been scalable because of the cost of freight and the weight of the products. Now, instead of factory built and assembled on site, we use a digital component that is aligned with industry standards. The cloud allows us to create a seamless connection from design to final install. We are proud to be among the first to digitize conventional construction.” Falkbuilt is pleased to have recently completed a $2 million project for Mattamy Homes, one of Canada’s largest multifamily builders. Smed is also thrilled about the 11-floor project for Equitable Bank in Toronto. As much as Falkbuilt relies on technology to drive its success, it also relies on its people.

“The biggest reason for our success is the team of people and the culture we have here,” says Smed. “That is a fact that trumps technology. Work culture is everything.” For Smed, it’s not just about stopping and enjoying the growth of the business. He wants to influence the entire industry, be ready for the future of construction and use that future to change the world. “We need to be ready for the inevitable tsunami of business. We need to prep now for the growth that is coming and be extremely agile and in tune with the needs of our environment. This doesn’t feel like work to me – we are part of an idea. There have got to be ways to build better, more affordable homes. Calgary can’t accommodate all the people coming in and young adults can’t afford to buy a home. People want to be here but there is nowhere for them to live. Falkbuilt is part of, and driving, meaningful change.” ABOVE: MOGENS SMED, CEO, FALKBUILT. AMONG THE SEVERAL THOUSAND PREFABRICATED INTERIOR CONSTRUCTION PROJECTS FALKBUILT HAS COMPLETED AROUND THE WORLD IN THE LAST FOUR YEARS: RIGHT TOP: A SEATTLE ARCHITECTURAL AND DESIGN FIRM. RIGHT MIDDLE: A CALGARY ORAL SURGERY CLINIC. RIGHT BOTTOM: A NATIONAL CONSTRUCTION COMPANY’S NEWPORT BEACH OFFICE.

Association in the late 1980s. As AIDS started to spread in Calgary and homophobia, prejudice and discomfort about HIV grew, Smed was determined to lend his support and help reduce the stigma around AIDS. Most recently, he sat as a member of the Board of Directors for Sauschan Development Corporation, the economic arm of the Takla Nation in B.C.. Although the company is just three years old, Falkbuilt has been recognized and awarded numerous times for its innovative work. The company is especially proud of its first big win, the 2019 ASID Design Impact Award at the Healthcare Design Expo + Conference in New Orleans. The award came on the heels of Falkbuilt’s record-fast installation at the tradeshow, going from crate to clean up in eight hours by assembling a full medical exam and dialysis room including ceiling track, electrical and glass telescoping doors. Dreams of this size need support, and for Falkbuilt, that support came from ATB. “They have been absolutely delightful,” Smed says of partnering with ATB. He pauses to laugh, “There is definitely a bias! This is the first local bank I have dealt with since 1982! My previous businesses had to rely on American banks or the big banks of the past. That has always been a very tenuous relationship because they are not in touch with their clients. ATB, on the other hand, looked at how we run the business, its potential and our belief in doing what we say we are going to do. They have been different from any other bank – in a good way. ATB has done a wonderful job of staying in touch and growing with us.”

Change from within the company is evident, but far less obvious is Smed’s humble generosity. He is quietly helping to build the communities in which Falkbuilt operates. Just some of the causes and organizations Smed and Falkbuilt support include music, the arts and nature conservation. Smed is adamant about supporting RESET Society of Calgary (formerly Servants Anonymous), which provides long-term housing, recovery and training programs for women and their children escaping human trafficking and sexual exploitation; Robin Hood Association’s Aspen Village, which provides 24/7 supports to seniors and adults who have disabilities and high or medically complex needs including end-of-life care and The Sea Shepherd Conservation Society’s marine wildlife efforts. Smed is perhaps most proud of being the first CEO in Calgary to sit on the board of directors for the AIDS Calgary Awareness

Smed concludes, “The future of this industry is not up to us. It’s for the rest of the world to catch on to what we are doing. This should be the way to build and we are proving that you can manufacture in Calgary and compete around the world with the help of technology. There is nothing complicated about it. In fact, it becomes easier and easier.” Learn more at falkbuilt.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 FUTURE OF FINTECH BY RENNAY CRAATS

algary has become an international fintech hub, and to support the growth of startups that are poised to disrupt the financial technology space, DC Group and Platform Calgary introduced the Digital Commerce Calgary Fintech Award in 2022. Now in its second year, the program will again provide innovative entrepreneurs with six weeks of incredible mentoring opportunities and valuable workshops capped off by cash prizes for the final three companies. This year’s 150 applicants came from startups not just in Calgary but from across the country, and judges whittled the pool down to 25 deserving fintech companies who will vie for more than $300,000 in non-dilutive funding to help catapult their startup businesses to the next level.

INTRODUCING THE DIGITAL COMMERCE BANK CALGARY FINTECH AWARD TOP 25 FOR 2023

Calgary-based Accelerate Financial Technologies offers investment solutions that allow advisors, institutions and individual investors to diversify their investment portfolios, manage risk and improve risk-adjusted returns.

bidmii

Toronto’s Bidmii renovation marketplace provides payment security by holding payments in trust to eliminate stolen deposits for homeowners and significantly reduce contractor accounts receivable.

Vancouver-based Blossom is Canada’s first social brokerage app that merges social features with a mobile-first investing platform to allow investors to share their portfolios, trades and investment ideas.

Calefy is a Calgary startup that is helping modernize the insurance sector and increase revenues for insurance brokerages, insurers and MGAs by quoting and binding insurance digitally.

Calgary’s Chata.ai translates natural language into database query language so financial industry users can receive instant data responses that help them make informed data-driven decisions.

Calgary-based Credit App Technologies has built a credit application platform that connects automotive dealerships with lenders and finance consumers in order to drive operational efficiencies and power omni-channel financing.

Datz Solutions out of Kelowna provides a complete, connected brokerage operating system that delivers gamechanging efficiencies for real estate brokers.

Calgary’s DealPoint has created a platform that digitizes investor onboarding and investment execution to make raising private capital more efficient for companies, venture funds, angel networks, investment dealers and securities lawyers.

Edmonton-based Elev provides a platform that allows students to view off-campus rental properties, sign a lease and pay rent while allowing landlords to screen candidates and manage payments, streamlining the experience for both.

Expedier from Hamilton is the first Black-led BIPOC-focused digital bank in Canada catering to that demographic.

Remitbee out of Mississauga uses leading security technology to provide online international money transfers and currency exchange.

Hamilton-based Green Apple Gives is on a mission to make the world a kinder place, one transaction at a time by helping nonprofits improve their donor retention by empowering their donor base with spare change roundups and cashback rewards from local and national brands.

Richmond Hill-based Seedwell provides an employee benefit focused on financial health, empowering users to make smarter decisions and ensure follow-through with automation directly from the source.

InTuition Pay out of Calgary offers an easy and secure way for international students to pay tuition fees and connect with other students studying in Canada, Australia, UK and USA.

Standard Carbon out of Winnipeg has developed SCOP3, a SaaS, to make it quick and easy to comply with climate disclosures required by the banking, insurance and accounting industries.

Toronto’s LenderBidding created the only mortgage auction platform in Canada which encourages competition, offers optimal rates and expands deal access for lenders while serving customers rejected by credit unions to help repair their financial issues.

Calgary’s Marmot Benefits develops employee benefits that address today’s debt issues, enabling employers to help with repayment of student loans and mortgages.

Padder out of Toronto is improving the rental experience by offering a platform where landlords can manage and grow their real estate portfolio while tenants build their credit.

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

Calgary’s Propra is building autonomous property management through its software that offers a streamlined hands-free platform to handle administrative tasks and financials.

Quickly Technologies out of Calgary created an “earned revenue access” technology for small- and medium-sized businesses that solves credit terms and gets their verified invoices paid within one business day.

Collingwood’s Tenure offers personalized solutions for transforming employee rewards, recognition and savings in order to attract top talent and foster a positive DEI culture.

Waterloo’s Vambora offers an alternative form of credit assessment through open banking and digital identity verification, thus promoting financial inclusion and fairness for ‘credit invisible’ consumers.

Calgary startup Village Wellth is an all-in-one business acquisition platform that creates access for buyers and sellers to transact with confidence.

Yield Exchange, a Vancouver-based treasury management platform, helps Canadian businesses search, compare and negotiate competitive GIC rates from over 20 Canadian financial institutions.

To learn more, visit: CalgaryFintechAward.com

Thanks to our generous supporters, JA Southern Alberta completed its most successful year yet!

60,000+ 2,500+ STUDENTS PROGRAMS Junior Achievement is the link between education and the business world, giving youth the confidence and knowledge they need to define personal success, enhance their workforce readiness and pursue their dreams. JA inspires youth to make informed, educated and knowledgeable financial decisions, start companies, develop career plans and express their innovative spirit. Transformational investments from the Economic Futures Council empower JA to deliver relevant financial literacy, entrepreneurship, and work readiness education to youth from grades K-12 at no cost to parents or teachers, rapidly expanding our reach and impact. JA celebrates all that was made possible for young people in southern Alberta throughout the 2022-2023 school year thanks to the incredible support of the Economic Futures Council and other valued partners. Keri Damen President & CEO JA Southern Alberta

Thanks to the founding members and patrons of the Economic Futures Council:

PATRONS Clive Beddoe Richard F. Haskayne Ronald N. Mannix

Clayton Riddell* JR Shaw* Mac Van Wielingen

FOUNDERS John* and Cheryl Aldred David A. Bissett Richard Bonnycastle Robert G. Brawn Wayne Chiu Jim Davidson Jack and Joan Donald N. Murray Edwards Dr. T. Chen Fong and Alice Chan

John and Lana Geddes Wayne Henuset The Hunter Family Foundation Sam Kolias Hal Kvisle Alvin Libin Eda Libin, Nora Lee & Louis Libin Ronald P. Mathison Jeff McCaig

Susan Nelson and Gordon Case David O’Brien Todd Poland Brian Sidorsky The Stollery Family Mike and Renea Tims Guy Turcotte David Werklund (as Chairman of the Werklund Foundation) C. H. Woitas Family * in memoriam

Economic FUTURES COUNCIL

Investing in Tomorrow's Workforce

Help develop the next generation of business leaders! Launched in 2012, the JA Southern Alberta Economic Futures Council (EFC) is a group of individuals who firmly believe that JA enhances the lives of young people, strengthens our economy and produces solid ethical citizens.

Our impact Since its inception, EFC members have generously pledged over $2.8 million to support core programming and digital enhancements for Junior Achievement. Because of this support, we have: Increased program delivery and student reach by 30% including expanding rural reach Developed and delivered financial literacy programs for indigenous youth on reserves Partnered with All in For Youth – A United Way-led Initiative to offer financial literacy and work readiness training to vulnerable youth Partnered with the Calgary Board of Education to build customized semester long financial literacy programs for students in non-traditional career pathways such as Arts and Trades

Join the Economic Futures Council By joining the Economic Futures Council, you can help leverage the impact that Junior Achievement Southern Alberta has on our youth and our economy. Your contribution and support will make a difference. Contribution levels start at $5,000. For more information about JA Southern Alberta programming or if you are interested in joining the Economic Futures Council, please visit jasab.ca.

PARKER’S PEN // DAVID PARKER

Parker’s Pen BY DAVID PARKER

’ve started to watch baseball. Never played it and can’t quite fathom all the rules yet but am enjoying the ups and downs of the Blue Jays. Wonder why so many balls are missed, but I guess trying to hit a round ball with a round bat is harder than it looks. Baseball also allows you to see the players up close; clenching fists when the poor guy goes up to bat with two out and bases loaded. And you have to feel sorry for the pitcher when he gets the walk back to the dugout. One thing I really appreciate is the camaraderie between opposing teams. Grim faced, facing a 100-mph missile yet smiling and chatting to the first baseman after a successful dash to the bag. And I marvel at the accuracy of throws – so splendidly captured on TV.

I like variety in most things but get frustrated with the different makes of machines that certainly confuse me when trying to make a payment. I know which is the OK button but trying to decide on the sequence of others can be quite flummoxing. And I wonder at the different house rules. When applying for my new driver’s license, I was met with a sign that read ‘No Tapping”.

The British press is still making a meal of after-work drinks at 10 Downing Street. Can’t help but think back to the tall cupboard in the editorial department at The Albertan newspaper. Open it and you would find it stacked with cases of beer. Work is a lot different now, but I still enjoy my well-earned four o’clock beer.

Walkers are allowed to amble along pathways, to walk side-byside enjoying conversation. So, it can be a bit of a shock when an unexpected silent cyclist zooms by. What happened to the handlebar bell that warned one to keep to the side? A precaution to help avoid both parties ending up on their derrières.

Couldn’t help but wonder about how different sports award their winners. Reading that Bryson DeChambeau had pocketed $4 million by winning a golf tournament had me feeling that chuckwagon riders are in the wrong sport. Buying horses, feeding them, paying vet bills and transporting them and wagons to different rodeos must be a big hit on pockets. Yet to win the biggest and most famous prize in their world earns them $50,000 at the Calgary Stampede. And add danger and a muddy face, while someone even carried DeChambeau’s clubs for him.

When companies like Telus decide to get rid of a large number of employees, you have to wonder who can be let go that hasn’t been filling a very necessary position. Surely not the human who eventually answers a phone call after long and frustrating on-holds. Better the person who spends their learned time making up names for management. Used to be pretty simple, but pray tell me why a company needs someone to dream up a title – and job description – for a chief experience officer, chief content officer, growth, people, reputation or visionary officer. Sounds a little top-heavy to me.

Final Words My irritating word of the month is ‘gotten’. “They had gotten into a boat” sounds too American to me. The dictionary says it is the past participle of ‘get’ so I guess it’s a real word, but I don’t have to agree with the evolution of language.

SEPTEMBER 2023 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

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UNLOCKING CANADIAN LNG AIDS BOTH LOCAL AND GLOBAL ENVIRONMENTS // CODY BATTERSHILL

Unlocking Canadian LNG Aids Both Local and Global Environments BY CODY BATTERSHILL

f it’s true that change occurs at the speed of thought, then we’re in an era of true upheaval. And from my perspective, all this change might be for the better. Let’s look at a few examples. Europe has recently labelled liquified natural gas a “green” energy source and, as I’ve pointed out before, Canadian exports will have the lowest emissions on earth. More people in Canada and around the globe are coming to the view that natural gas will remain an enormous part of the global energy mix at least for next several decades, as global energy demand continues to grow to record highs. In fact, some forecasting sees LNG consumption increasing by as much as 76 per cent by 2040. If the world is prevented from securing its growing energy resources from Canada, the challenge becomes clear: Will other less responsible producers step up to fill the void and fill their own coffers at Canada’s expense? The answer is ‘yes’. At the same time, Canada’s families and communities will be left behind, along with the emissions reductions our LNG could have attained globally. We’ve seen in our own Canada Action-sponsored polling that Canadians are well aware of the benefits of Canadian energy resources over those of jurisdictions where commitments to environment, social benefits and strong governance are weak. It’s why residents of Victoria, B.C. have recently been seeing our advertising explaining that B.C.’s LNG will reduce emissions and improve the environment.

A separate Ipsos poll released earlier in the spring showed that people in 28 countries, which included 24,000 respondents, ranked Canada as the number 1 choice for countries that import oil. Canada was the preferred supplier by 55 per cent of respondents, while Norway ranked second at 53 per cent and the U.S. followed at 52 per cent. The Ipsos results had the Middle East, Mexico, Venezuela, Russia and China ranked at the bottom. Commentators credited Canada’s strong records on democracy, environmental safety and social considerations for the world-beating results shown in the Ipsos research. So, a strong forecast for growth in LNG demand points to an equally strong opportunity for Canada to fill that demand. And a global reputation for Canadian excellence in natural resource development makes plain that our participation in the market brings positive global benefits. But there’s also a pressing need to engage more forcefully in the eradication of generational, systemic poverty among many Indigenous populations across Canada. In growing our market share for Canadian LNG, we can increase our commitment to Canada’s Indigenous populations by ensuring they’re able to lift out of systemic poverty whole populations that have lacked access to prosperity. It’s a massive opportunity, and its time has come.

And the world, it would seem, agrees with our message.

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.

SEPTEMBER 2023 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

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STATE OF THE CORE // COMMERCIAL LEASING

State of the Core Experts cite positive signs in Calgary’s downtown office sector BY JAMIE ZACHARY

n what’s being characterized as a “flight to quality,” Calgary’s downtown office sector has seen plenty of action in the first half of 2023 – just not the drop in vacancy rates that many still want to see. After years of challenging conditions that’s led to some of the highest vacancy rates in Canada, experts say leasing activity in our city’s core has been incredibly active during the first two quarters of the year. Yet most of that activity is represented by existing downtown tenants trading up for more centrally-located, amenity-rich buildings, thereby leaving many areas on the fringes feeling largely empty. “There are two different downtowns, and they are worlds apart,” says Lori King, principal and senior vice-president with CORE Commercial Real Estate. “Over the last year, there has been a huge flight from the west end into the centre core as tenants moved up into a better area. And as the west end has emptied out, it has just become a sadder and sadder.” Adds Jeff Thomson, principal and executive vice-president with CORE: “It’s a tale of two cities in that once you come

“THERE ARE TWO DIFFERENT DOWNTOWNS, AND THEY ARE WORLDS APART,” SAYS KING. ABOVE: LORI KING, PRINCIPAL AND SENIOR VICE-PRESIDENT WITH CORE COMMERCIAL REAL ESTATE..

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STATE OF THE CORE // COMMERCIAL LEASING

east of 5 Street S.W., the Plus 15s are bustling. They’re full of people at lunch hour. Whereas if you go to the west end, it’s empty.” This activity is illustrated in what King and Thomson describe as very nuanced vacancy rates. CORE’s market update for the second quarter of 2023 shows the vacancy rates of A and AA class buildings within the centre of downtown – which is generally defined as Centre Street to 5 or 6 Street S.W. – is as low as 15 per cent. This is leading many landlords to increase leasing rates as much as 50 per cent. “Eight months ago in Bow Valley Square, you could lease space for $12 per square foot. And that went to $18 overnight,” says King. Meanwhile, vacancy rates for B and C class, which is generally found outside of the centre core, is well over 30 per cent – 40 per cent in the case of B Class. CORE reported an overall vacancy rate of 29.5 per cent over the first half of 2023. John Savard, owner at Bedrock Realty Advisors, notes this flight to quality doesn’t mean there still isn’t demand for B and C class properties. “We just have to get through a significant amount of vacancy,” he says. “But there’s still demand in B to C class. In fact, there are a significant number of tenants who enjoy the mid-west portion of downtown Calgary because the rates are considerably lower than A class.” Quality isn’t the only difference within Calgary’s downtown office market. In some cases, it can also be quantity. “It’s nuanced based on how much space you’re looking at, too,” says Thomson. “If you want 15,000 square feet, there are going to be a couple of hundred alternatives. Yet if you want 4,000 square feet that’s office intensive with a bit of open area, well, there are not very many options. “So, yes, the market is substantially in the favour of tenant. But if you’re looking at 2,000 square feet, there’s only going to be a handful of options that would fit your needs.” Also favoring the tenant is a smorgasbord of amenities that have become almost standard as landlords look to meet

“WE JUST HAVE TO GET THROUGH A SIGNIFICANT AMOUNT OF VACANCY,” SAVARD SAYS. “BUT THERE’S STILL DEMAND IN B TO C CLASS. IN FACT, THERE ARE A SIGNIFICANT NUMBER OF TENANTS WHO ENJOY THE MIDWEST PORTION OF DOWNTOWN CALGARY BECAUSE THE RATES ARE CONSIDERABLY LOWER THAN A CLASS.” demand for spaces that feel like home. That comes as no surprise to David Wallach, owner/broker at Barclay Street Real Estate, who says return-to-work policies instituted by many companies post-pandemic created a trickle effect. “If I’m a landlord, my competition now is also against the kitchen table. If you don’t provide them with fun and attractive spaces, then that space is now obsolete,” he says. Adds Thomson: “I was just on a call with a tech group … and of the nine alternatives that were on the list, they only want to see six of them because the other three didn’t have any amenities. They wanted to continue to have amenities for their staff because they know it’s what is going to attract them back to the office and keep them there.”

ABOVE: JOHN SAVARD, OWNER AT BEDROCK REALTY ADVISORS BEDROCK REALTY ADVISORS.

SEPTEMBER 2023 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

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STATE OF THE CORE // COMMERCIAL LEASING

“Tenants are really drawn to those amenities,” says Savard. “So, yes, we’re seeing landlords, when they can, create amenity packages to attract tenants in an extremely competitive market.” Adds Wallach: “There’s a reason why it’s called return on investment. These are perfect examples of how you can change the discussion and have people wanting to be in your space.” The other challenge that the City needs to overcome is safety, says Wallach. He cites security as an ongoing concern among existing tenants downtown, as well as an obstacle to why many others are staying away. “It’s a major issue that people don’t want to talk about,” says Wallach. “Employees are not feeling comfortable on transit. They don’t feel comfortable walking through the streets. I’ve been here more than 20 years, and I’ve never seen it as bad as it is right now.”

ADDS WALLACH: “THERE’S A REASON WHY IT’S CALLED RETURN ON INVESTMENT. THESE ARE PERFECT EXAMPLES OF HOW YOU CAN CHANGE THE DISCUSSION AND HAVE PEOPLE WANTING TO BE IN YOUR SPACE.” Savard cites landlords such as Aspen Properties as doing great work at redefining the once-standard blueprint of downtown office towers in Calgary. Just some of the amenities between Apsen’s Edison and Ampersand towers on 9 Avenue S.W. and 4 Avenue S.W. include indoor basketball courts, golf simulators, tenant lounges, fullservice fitness clubs and bike-sharing programs.

“So, sure, we can find you space downtown. No problem. But will your employees want to come here?” Wallach believes one of the solutions to this issue is in attracting more post-secondaries downtown, as he says they bring a fresh vibrancy to the area. He points to the University of Calgary’s School of Architecture, Planning and Landscape located within the former Central Library building as an example of how to successfully repurpose existing spaces. He also credits the work being done by the City of Calgary on its commercial-to-residential conversion initiative. Announced in 2021, the downtown development incentive program grants developers $75 per square foot of vacant office space being converted to residential. The goal is to remove six million square feet of office space from the downtown area by 2031. So far, an estimated two

ABOVE: DAVID WALLACH, OWNER/BROKER AT BARCLAY STREET REAL ESTATE.

SEPTEMBER 2023 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

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CAPABILITIES million square feet of office space is slated to come off the market, including an announcement this past spring of five conversions that will convert nearly 500,000 square feet of empty or underused space into 530 residential units.

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“Those buildings were never going to get occupied. So, this will really help to reduce vacancy rates, as well as bring people back downtown,” says Wallach. Looking forward, Thomson is bullish on the direction of Calgary’s downtown office market – largely because of a noticeable swing in the types of tenants she’s working with lately. “Probably 60 to 70 per cent of the clients we’re working on right now are tech focused or tech companies … compared with five per cent pre pandemic. So, you’re seeing an explosion in that market. Ultimately, they all want to be downtown,” he says. Adds King: “There’s definitely a positive lining with all this movement that we’re seeing downtown. While tech used to be a very small percentage of the downtown core, it is now becoming a substantial amount of the new business.”

BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // SEPTEMBER 2023

CALGARY’S MANUFACTURING EDGE // MANUFACTURING

CALGARY’S

MANUFACTURING EDGE THE SOMETIMES OVERLOOKED BUSINESS SECTOR BY JOHN HARDY

ith much of the Calgary business spotlight usually shining on the big business and offshoots of the energy sector, mergers and Acquisitions, the warp speed trend of start-ups and fluctuations in the real estate market, manufacturing continues as a vital but sometimes upstaged component of business in Calgary. Despite stale and long-ago discredited cliches and stereotypes, like blue collar vs. white collar and others, Calgary manufacturing matters. “Manufacturing is one of Canada’s key economic drivers,” explains the plugged-in Alan Arcand, chief economist of Canadian Manufacturers & Exporters (CME), the national organization which represents more than 2,500 Canadian manufacturers of all sizes, from coast to coast. “It is the second largest major subsector in Canada, ranking behind only real estate. “Manufacturing directly generates almost 10 per cent of Canada’s GDP and more than 60 per cent of Canada’s merchandise exports. Including indirect and induced impacts, manufacturing footprint amounts to one-quarter of Canada’s total economic activity.”

“MANUFACTURING IS ONE OF CANADA’S KEY ECONOMIC DRIVERS,” EXPLAINS ARCAND.

ABOVE: PHOTO SOURCE: CHRISTOPHER BURNS- UNSPLASH INSET: ALAN ARCAND, CHIEF ECONOMIST OF CANADIAN MANUFACTURERS & EXPORTERS (CME).

SEPTEMBER 2023 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

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BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // SEPTEMBER 2023

CALGARY’S MANUFACTURING EDGE // MANUFACTURING

“THE IMPORTANCE OF A STRONG MANUFACTURING PRESENCE IS IMPORTANT TO CALGARY’S LONG TERM ECONOMIC GROWTH AND DIVERSIFICATION,” SAYS YEDLIN. and construction, always benefit when products are manufactured close to customers and consumers,” explains Steve Youngblut, CGC’s general manager.

Arcand also points out that manufacturing directly employs 1.7 million Canadians and supports 3.4 million additional Canadian workers through supply chain activity and employee spending. According to the most recent CME Labour and Skills Survey, some 33,000 people worked in Calgary’s manufacturing sector last year, representing nearly four per cent Calgary’s total employment. Also in 2022, manufacturing sales in Alberta hit a record high of $108.5 billion, thanks mainly to higher prices, especially for refined petroleum products. The figures track that, in Calgary and Edmonton, factory sales came in at $14.4 billion and $54.9 billion, respectively. “These were also record highs,” he says. Deborah Yedlin, president and CEO of the Calgary Chamber of Commerce, underscore the importance of manufacturing for Calgary’s success. “Manufacturing is important for the long-term growth of our local economy. Not only does a strong manufacturing industry provide stability and certainty for companies seeking more control over their supply chains, but there is also access to other markets across the country through Calgary’s growing presence as a logistics and distribution hub. “The importance of a strong manufacturing presence is important to Calgary’s long term economic growth and diversification.” Calgary’s CGC Inc., the leading Canadian marketer, manufacturer and distributor of gypsum wallboard products, interior finishing materials and suspended acoustical ceilings, is a dynamic example of the importance of manufacturing. “Canada’s economy and critical industries, such as building

“In our industry, supply chain disruptions have caused delays and uncertainty over the past number of years, making local manufacturing even more important to our economic stability. That’s why CGC is focused on growing our Canadian footprint, including a new, state-of-the art wallboard manufacturing plant in Wheatland County, so we can create our world-leading wallboard closer to customers in Western Canada. “Like all local manufacturing, the Wheatland plant creates good-paying jobs and spurs innovation, which further supports local and national economies.” Traditional manufacturing, like machining and a range or products and parts now combine with emerging technology manufacturing to grow Calgary’s manufacturing heft. Calgary-based Westgen Technologies empowers “the Energy Evolution” and is recognized as a global industry leader in creating the sustainable energy solutions the world needs. “Manufacturing is very important for the Canadian economy,” says the upbeat Connor O’Shea, Westgen’s CEO. “We have a really important resource industry, and we also have an important manufacturing industry. Manufacturing supports the resource industry, and it is a big part of our economic prosperity in Canada. “Manufacturing has been gaining importance in Calgary. Traditionally in Alberta and in the western parts of the country, manufacturing tends to be focused on having a fabrication type of a background or skill set. Westgen is focused on building, often customized equipment, primarily for the resource industry.” Connor Curran is a high-energy and forward-thinking business leader, in a perhaps niche sector of Calgary manufacturing. He is “chief laundry folder” at Local Laundry, the innovative, Calgary-based manufacturer of “Canadianmade garments for social good.”

ABOVE: DEBORAH YEDLIN, PRESIDENT AND CEO OF THE CALGARY CHAMBER OF COMMERCE.

SEPTEMBER 2023 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

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“Manufacturing is vitally important for the Canadian economy,” Curran emphasizes. “It is a driving force for economic growth, employment, innovation and trade. According to StatsCan, prior to 1979, over 80 per cent of all clothing bought and sold in Canada was made in Canada. By 2020, it was less than six per cent! For every job created in manufacturing, several more are created in other sectors. “By keeping manufacturing local, we are not only ensuring the creation of quality goods, but we’re also fostering community development, increasing employment rates, supporting a diverse Canadian economy and retaining wealth within our borders.” Although it is definitely a Calgary dynamic, the manufacturing sector is not without its speedbumps. Like a skilled labour crunch. The CME’s Arcand emphasizes the urgency and recent slump about manufacturing’s scramble for skilled labour. “Although labour and skills shortages have been a problem in manufacturing for some time, it has recently gotten much worse. In 2021 and 2022, more than 80 per cent of Canadian manufacturers said they faced immediate labour and skills shortages, up sharply from 60 per cent in 2020 and only 39 per cent in 2016.” CME stats show the top three skilled occupations most in manufacturing demand are: welders, millwrights and machinists. As CGC’s Steve Youngblut points out, Calgary skilled labour pool was a key consideration for CGC choosing the Wheatland location. “The Calgary region is a rapidly growing market in terms of business and talent attraction, including manufacturing and the skilled workers who drive it. More businesses and more people drive demand for more infrastructure and housing, increasing the need for wallboard and other building and construction materials.

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“For CGC, manufacturing in Calgary’s backyard means we can easily supply Calgary area and other western customers with easy, reliable access to our USG Sheetrock® EcoSmart wallboard panels while tapping into Calgary impressive talent pool.”

CALGARY’S MANUFACTURING EDGE // MANUFACTURING

Local Laundry’s Connor Curran is gung-ho and optimistic about the future of Canadian manufacturing. “There’s growing awareness about the economic and environmental benefits of locally made goods, and it is fostering a resurgence in Canadian manufacturing. Consumers and corporations are more discerning and willing to pay for quality and sustainability. The percentage of clothing being made here is slightly increasing, but, for the first time in a long time, it is not decreasing.”

“We are very bullish and optimistic about the outlook for Canadian manufacturing,” Connor O’Shea notes with enthusiasm. “There are tailwinds and some examples where a lot of manufacturing that had previously been outsourced to countries like China, who is now following the disruptions that the pandemic created in our supply chain. The world is starting to recognize the importance of resiliency and supply chains and a lot of that is achieved through creating capabilities and manufacturing at home.”

He adds with positivity about Calgary’s advantages for manufacturing. “Calgary has a skilled workforce, a central geographic location offering easy access to both Canadian coasts and the U.S. market, and a solid infrastructure that supports industrial activities. Moreover, the entrepreneurial spirit encourages innovation and problem-solving in manufacturing processes.”

The Chamber’s Deborah Yedlin is revved and pumped. “Calgary remains an advantageous place for manufacturing because we have momentum, and we are a competitive jurisdiction with a focus on growing our presence as an inland port for distribution and logistics. By manufacturing locally, we are further spurring economic development within the city.”

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JUNIOR ACHIEVEMENT OF SOUTHERN ALBERTA // COVER

Junior Achievement of Southern Alberta PRESENTS THE 19TH ANNUAL GALA AND INDUCTION CEREMONY FOR THE ALBERTA BUSINESS HALL OF FAME - SOUTHERN ALBERTA BY MELANIE DARBYSHIRE

n October 5, Junior Achievement (JA) Southern Alberta will hold the 19th annual Gala and Induction Ceremony for the Alberta Business Hall of Fame – Southern Alberta at the Hyatt Regency in downtown Calgary. Three well-respected business and community leaders will be inducted into the Hall of Fame, while a newly established Young Innovator Award will be handed out for the first time. “The Gala is JA Southern Alberta’s annual fundraiser,” explains JA Southern Alberta CEO Keri Damen. “It typically raises over $400,000 for JA programming. The support of sponsors and attendees ensures that southern Alberta’s students and educators continue to have free access to entrepreneurship, financial literacy and work readiness education.” This year’s laureates are Arlene Dickinson, Louis “Lou” MacEachern and Ron Mathison. “Arlene is a household name after appearing on our TVs for over 17 years as a Dragon,” says Damen. “She is a serial entrepreneur and general partner of District Ventures Capital, a venture capital fund focused on helping market, fund and grow entrepreneurs and their companies.” “Louis MacEachern is an active philanthropist in both Calgary and his native Prince Edward Island,” she continues, “most known for the commercial cleaning company he founded in 1964, Servpro. Ron Mathison is a well-known Calgary-based business leader as chairman of MATCO Investments Ltd., and founder of many other successful companies.” The new Young Innovator Award was created to recognize an innovative business leader, under the age of 40, who is changing the landscape within our economy, exhibits an energetic and entrepreneurial spirit, and is a promoter of change on behalf of the greater good.

SEPTEMBER 2023 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

“We cannot think of a more deserving inaugural recipient than Dr. Breanne Everett,” says Damen. “Breanne is the CEO and co-founder of Orpyx Medical Technologies Inc., as well as a medical doctor with residency training in plastic and reconstructive surgery at the University of Calgary. Seeing the burden that diabetic foot complications posed on both patients and the health care system, she founded Orpyx, a leading digital therapeutics company that is committed to extending the health span for people living with diabetes through personalized remote care.” “We view this award as an opportunity to connect with the community of professionals who are just in the middle of their careers, and hopefully, begin the circle that will bring them back to the Alberta Business Hall of Fame – Southern Alberta as an inductee in the future,” Damen adds. JA Global is the world’s largest non-profit serving youth in 120 countries and has been operating in Calgary since 1960. “This past year, we’ve made huge strides in terms of impact – reaching an all-time high of 2,500+ programs delivered to 60,000 students in southern Alberta,” Damen says proudly. “This is due to the launch of new cutting-edge programs but also to the broadening of program access – with COVID accelerating online course delivery enabling us to reach more students.” JASA’s fastest growing program is a financial literacy one called More than Money (grade four), which grew 140 per cent from last year. “Our most impactful program is the Company Program after school for high school students,” says Damen. “Over a four-month period, grade 9 to 12 students learn how to build and operate a real business, with help from volunteers from the local business community.” The Gala is more than 80 per cent sold. Visit south.abhf.ca for more information or to secure sponsorship.

JUNIOR ACHIEVEMENT OF SOUTHERN ALBERTA // COVER

Arlene Dickinson Arlene Dickinson’s story is one of hard work, hardship, resilience and, in due course, great business success: owner of Venture Communications, co-owner of District Ventures Capital and Believeco:Partners, Dragon on CBC’s Dragons’ Den, author, podcaster, public speaker. The daughter of South African immigrants looking for a brighter future in Canada, Dickinson grew up in suburban Calgary. A bright student who graduated from Sir Winston Churchill High School at 16, she married and started a family at 19. In time, she set her sights on business. “I believe you’re born an entrepreneur and that you can’t teach somebody to be one if it’s not already somewhere in them,” Dickinson says. “I didn’t have an immediate desire to become an entrepreneur and didn’t know it was in me until life circumstances forced me to discover that it was. Sometimes it’s the hardships that help us discover who we really are.” Dickinson joined Venture Communications as a sweat equity partner in 1988. “While it sounds glamorous to be a partner at an ad agency in your early 30s, I can assure it wasn’t,” she notes. “I was a single mother to four kids and had no income from my full-time job. But I persisted because I knew I was growing something purposeful in an industry that had been doing things the same for decades.” After a decade of hard work – early mornings, working over weekends and overcoming the hurdles that come with reinventing a business – Dickinson eventually bought out her partners in 1998. Being a woman however, she was unable to obtain the financing to do so. “So it was done the hard way by reinvesting working capital into the business as no bank would give me a loan,” she says. In November 2022, Dickinson brought Venture Play and five other independent Canadian agencies together to form Believeco:Partners, a 300-person agency with offices across North America, offering marketing, communications and advisory services to businesses in need of strategy, branding, advertising and public relations services. One of Believeco:Partners brands, Castlemain, focuses on Indigenous advisory services. After 18 years on Dragons’ Den seeing thousands of entrepreneurs, Dickinson decided to form District Ventures

Capital to invest in early-stage CPG businesses in the food, beverage, health and wellness space. “By providing Canadian entrepreneurs with the capital to manufacture and take to market the packaged products from agriculture, and the consumer-ready health innovation from our R&D labs, we create a globally competitive economy, a better nation and stronger Canadians,” she says. An active supporter of her community and country, Dickinson is currently creating a foundation for supporting seniors in need and ensuring their stories are told. In addition, she supports charities and non-profits that ensure no one is left hungry. “Canada has a network of food bands and food rescue agencies that do amazing work to ensure food doesn’t go to waste,” she says. “I’m proud to be an ambassador for Second Harvest and bringing awareness to the organization’s cause.” Her advice to young people is this: “There is only one person who has the ability to stop you in life and that person lives in your head. Believing in yourself will bring out your resilience and perseverance and those traits are critical to your success.” A proud Calgarian, Dickinson is grateful for the city: “I’ve grown up and I have built several businesses here, but the most important thing I’ve done is raise my own family here. All my children were born at the General Hospital. I was raised here, my kids were raised here and I created myself as a businessperson here. This city truly raised me up.”

BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // SEPTEMBER 2023

JUNIOR ACHIEVEMENT OF SOUTHERN ALBERTA // COVER

Louis “Lou” MacEachern Louis “Lou” MacEachern first arrived in Calgary in 1952, a young man from PEI in search of a job. He’d grown up on a farm and quit school after grade seven to work. “Things were pretty dull in PEI then,” he recalls. He made the trek out west in order to “have something to eat.” While he did land a job, four years later MacEachern decided to return to the Maritimes to complete his grade school education. “An education never hurts,” he admits. After high school he went on to pursue post-secondary education, first at St. Dunstan’s University and Prince of Wales College (University of PEI predecessor institutions), then at Dalhousie University to study commerce. During the summers, MacEachern would travel to Toronto and work at a cleaning company. “I’d make enough money to make it through the winter and return to school again,” he says. After finishing his education, he returned to Calgary in 1964 and soon started his own cleaning business – Servpro. The business was focused mainly on insurance cleanups – fires and floods. For 36 years, MacEachern grew his business. “We tried our best to give good service and do what the customer wants,” he reflects. By the time he sold Servpro in 2000, the business was a successful and well-known organization. “We grew to 800 employees,” he says, “and we started just with myself and a guy with a drinking problem!” While he was no longer involved with Servpro, he continued to run Fortune Industries Ltd., a company he founded in 1965 which owned all MacEachern’s interests. “We had 19 different companies that operated at the Servpro offices,” he explains, “and Fortune owned by interests. Those companies were mostly related to salvage and real estate.” Today, MacEachern’s business interests continue to be carried out through Fortune. “We’re building apartment buildings in Dartmouth, Nova Scotia,” he says. “And I’m

SEPTEMBER 2023 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

involved with the stock market.” He is also a director of various corporations and has been a member of the UPEI Board of Governors, as well as an advisor to the University of Calgary and Mount Royal College. Through the course of his life, MacEachern has donated much time and money to various charitable organizations, both in Alberta and PEI. “I was with the Calgary Foundation for several years in the 90s, and that’s a great operation,” he says. “I was with the Cancer Society for years too. And in the Maritimes I’m with the Confederation Centre of the Arts, I like that outfit quite a lot.” Other organizations he’s been involved with include the Rotary Club of Calgary, the Naval Museum of Alberta, The Duke of Edinburgh’s Awards, and the Pinnacle Awards. His advice to young, would-be entrepreneurs? “It’s not easy,” he says matter-of-factly. “If you’re looking for lifestyle and no work, don’t start a business. There’s a lot of work involved, and it requires a couple of things. One is good judgement. The second is lots of work. If you think you don’t have to work because you’re the boss, I’ve got news for you!”

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JUNIOR ACHIEVEMENT OF SOUTHERN ALBERTA // COVER

Ron Mathison Ron Mathison has spent his career building. Energy and related companies, entire downtown city blocks, University of Calgary halls; he’s played an instrumental role in the birth and growth of much in this city. But perhaps the most important thing he’s built is his reputation. “My father always said that it takes a long time to develop a reputation and a short time to lose or ruin it,” Mathison reflects. “The induction [into the Alberta Business Hall of Fame – Southern Alberta] is gratifying because it suggests that, on balance, people in the community and a group of your peers recognize that you’ve had a modicum of success and that you’ve tried to do the right thing.” Born in Calgary and raised in Winnipeg, Mathison feels fortunate to have grown up in a working-class family: “My parents were always very conscious of costs and the value of a dollar, but we never wanted for anything, and my dad was able to loan me the money for my first business.” He enrolled in the Faculty of Commerce at the University of Manitoba given his interest in business. “When I graduated I still really didn’t know what I wanted to do,” he recalls, “and my dad, who grew up with Dick Haskayne, said he didn’t know what to recommend but that ‘Haskayne had become an accountant and it worked pretty good for him’.” Accordingly, Mathison went on to obtain his Chartered Professional Accountant, Chartered Business Valuator and Chartered Financial Analyst designations. His first job was at the Winnipeg accounting firm Thorne Riddell (predecessor to KPMG) in the audit department, which he hated. He soon switched to tax and business valuations and through this work met Rob Peters, the founder of Peters & Co., who offered him a job in Calgary. He joined the firm in 1987. “Peters & Co. was, and remains, the pre-eminent Canadian investment bank for the oil and gas business and over the years has employed dozens of people who are legend in their own right,” Mathison reflects. “My time at Peters & Co. was the favourite part of my career. Great firm, great people.” He left Peters & Co. in 1999, and remained focused on MATCO Investments Ltd., which by that time had invested in and developed a large commercial real estate portfolio. When The Economist famously predicted that oil would be $5.00 forever, Mathison decided to purchase distressed oil and gas

SEPTEMBER 2023 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

assets. “If The Economist was correct, everything I owned would be worthless anyway,” he reasoned. “If they weren’t correct, I would be better off with more assets that were available at that time of historically low prices.” Luckily, The Economist wasn’t correct, and the strategy worked out well. MATCO’s development of Eighth Avenue Place (EAP) downtown was a major achievement. “Like many things, EAP seemed like an overnight success, and I guess it was,” Mathison reasons, “except it was 20 years in the making. EAP was built on spec and for a few years looked to be the biggest white elephant in Canadian real estate history.” But as is so often the case in Calgary, the economic cycle moved very quickly after the 2008 recession. Both towers in EAP are now fully leased. Mathison is also co-founder of three oilfield service companies: Calfrac Well Services Ltd., Western Energy Services Corp. and Echo Seismic Ltd. Calfrac, in particular, has done very well. “We had our first Christmas party at one table in a restaurant in town and now Calfrac operates in Canada, the United States and Argentina and has several thousand employees,” Mathison says. A generous philanthropist, Mathison explains his rationale: “I have had the extraordinary good fortune to be associated with a number of great community builders and I’ve seen how impactful their contributions and efforts have been, both for the community and the organizations, and also for their own feeling of community.”

JUNIOR ACHIEVEMENT OF SOUTHERN ALBERTA // COVER

YOUNG INNOVATOR AWARD RECIPIENT:

Dr. Breanne Everett Though Dr. Breanne Everett chose the medical profession, business was her first passion. As a child growing up in Bragg Creek, she was always interested in business and entrepreneurship, and tried her hand at several small businesses. She credits her parents for fostering her passion. “They doubled-down on the things we loved,” she says. “Although we didn’t have a lot of resources, they literally did whatever they could to support and encourage us.” This support led a young Everett to start a beaded jewelry business, which evolved into silversmith jewelry after she took silversmithing courses. Her jewelry supplied a number of televisions series and movies shot locally. “I did that until midway through middle school,” she recalls, “and then became more focused on school.” An interest in science led her towards medicine, and she received the Canadian Merit Scholarship, a national, full-ride scholarship (now called the Loran Scholarship) to any university in the country. She chose to pursue an undergraduate degree in biochemistry from McGill. Upon completing her degree, she returned to Calgary to attend medical school. She obtained her MD then began a residency in plastic and reconstructive surgery. During this training, she conceived the idea for a sensory insole to prevent diabetic foot problems. “I never intended for these paths [medicine and business] to combine,” she reflects. “But as a clinician I saw some of the problems we face consistently every day in the health care system. And I had several ideas for how we could improve the way we deliver care for chronic diseases.” Dr. Everett co-founded Orpyx Medical Technologies Inc. in 2010, in the middle of her residency. Orpyx’s flagship product is the Orpyx SI® Sensory Insole. “It’s a sensorized insole,” she explains. “They can be made in custom or noncustom forms. Inside the insole we have a suite of sensors for pressure, temperature and activity. All the data from the underfoot is collected with the insole, which transmits the data wirelessly to an app or other receiving device.” The result is a continuous time series of data from the shoe of a person living with diabetes. “We have an in-house care team, including credentialed nurses, that oversee that data and can escalate issues as required,” she continues. “They can

raise issues with the patient or their prescribing physician, as needed. It’s a turnkey solution that allows for continuous care and surveillance to prevent foot complications.” Orpyx SI® Sensory Insoles also cue activity and movement in the patient as required. “The intervention is very effective at stopping limb problems, including eventual amputation,” she notes. “We did a randomized controlled trial that showed the highest risk patients can reduce the rate of ulceration by about 86 per cent. It’s really good at doing what it does.” The product can be used in a range of other chronic disease management, for sports performance quantification, improvement and injury prevention. As the inaugural Innovator Award Recipient, Dr. Everett is humbled by the honour. “The creation of this new category is exciting,” she says, “particularly for students to see individuals who are earlier in their careers. It’s an amazing honour, but at the end of the day, it’s a reflection of the work of a very large group of people who have brought the company to this stage.” “You’re never too young to get started,” she advises would-be entrepreneurs. “If you have a passion, just start exploring, learning and shaping that part of yourself, because time goes by quickly. And one of the best things young people have is the innate ability to be very flexible thinkers. So if you can harness that early and train that muscle in yourself early, it will serve you forever.”

BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // SEPTEMBER 2023

MAKING HOUSES INTO HOMES FOR 45 YEARS Written by Rennay Craats Published by Brittany Fouquette

hen Avi Amir and his family immigrated to Canada in 1974, he was struck by the possibilities of Canada. While capitalizing on those possibilities wasn’t easy, Amir has always been up for a challenge. His civil engineering background opened doors to work with Anthes Equipment in Mississauga and Calgary. He settled in Calgary and decided to strike out on his own with Avi Construction in 1978. There was only one problem: he didn’t have any money. While he had experience with concrete and steel construction, he didn’t have the funds to bid on public tenders so he shifted gears and with little more than faith in himself and a strong work ethic, entered the unknown world of single-family home construction.

Charron Ungar and Avi Amir. Photo by Rebecca Hardcastle.

Homes by Avi | 45 Years

Homes by Avi builds in the community of Evergreen.

“I didn’t know much about wood construction but I learned on the job. I took out a second mortgage on my house for $30,000 and I started working,” says Avi Amir, founder and chairman of Homes by Avi. He bought a house in Glengarry and razed it to build a new four-plex in its place and then repeated the process in Sunnyside. It was a steep learning curve but Amir conducted business like he conducted his life, focusing on doing what’s right to give clients the best possible quality and value. Avi Construction was ready to tackle building new homes in Calgary’s growing suburban subdivisions so in 1980, he approached developer Nu-West about purchasing home lots. He was told that would require him to build a showhome first. As luck would have it, a builder pulled out of the showhome parade in the southwest community of Woodbine and Amir happily stepped into their place. Despite the crashing economy in Alberta in the early 1980s, Avi Construction built 12 houses in its first year as a home builder and continued to grow over the following years. By the peak of the housing boom in the 2010s,

Homes by Avi was building approximately 1,000 new homes a year in Alberta. That level of production was unthinkable in the early days when he and his wife, Rachel, wore many hats and sought help from their three children. It wasn’t until 1985 that they hired the first employee for the newly renamed company Homes By Avi. The Company began to grow consistently from there; building a solid reputation as more people moved into homes built by Homes by Avi. “After our first showhome in Woodbine in 1980, we worked in Riverbend, Edgemont, Shawnessy, Millrise, Scenic Acres, Rocky Ridge, Chaparral, and on and on. As the city developed, we tried to be in every subdivision that came up,” he says. After 20 years of building homes in Calgary, one of his developer partners, Dandee Development, informed Amir that it would be several months before they would have land available for development in the city. Not one to sit back, he inquired about other opportunities and jumped at the invitation to build in Edmonton. In 1998, Homes by

Homes by Avi | 45 Years | 2

Homes by Avi has grown into a major player in the industry and now, after 45 years, Amir is stepping back and letting the next generation take the reins. His son, Charron Ungar, has extensive experience in all levels of the company and took on the CEO role from retiring Monte Kendall in 2018, continuing to build his father’s legacy in Alberta.

LEAVING THEIR MARK ON CALGARY Homes by Avi has played an integral part in facilitating the city’s growth over the past 45 years, helping house a surging population that has grown from about 518,000 when the company was established to more than 1.6 million today. Whether it’s a couple looking for a larger home to accommodate a growing family, empty-nesters downsizing their space, a young professional drawn to the low-maintenance appeal of condominiums or newlyweds entering the housing market with a starter home, Homes by Avi is dedicated to delivering their dream space in their dream location. Avi created a branch in the province’s capital, building its first home in the hamlet of Sherwood Park and continued building in exciting, vibrant communities across Edmonton. The company has also maintained a presence in Austin, Texas, since 2006, building incredible single family homes, townhomes and row homes for clients south of the border.

“As we grew and developed, we tried to cater to the public in general, so we have something for almost everybody,” says Avi Amir. “Most communities have several different housing styles and customers can pick from our floorplans available in that particular location.”

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Homes by Avi | 45 Years | 3

The team is designing and building a variety of home styles in more than a dozen of the most sought after areas in Calgary, offering home buyers gorgeous front drive single-family homes in Aspen Spring Estates, contemporary condominiums in Livingston, luxury bungalow villas in Swift Creek, urban downtown units on 17th Avenue (Sovereign on 17th) and beautiful duplex homes in Legacy to name a few. The influential home builder has made an impact in subdivisions in every quadrant of the city over the past several decades. Even after all this time, there continues to be surprises, and Amir celebrates the unique, out-of-thebox developments that got the team extra excited to be involved in bringing them to life. The city approved University District in 2014 and since then every conceivable housing type has been introduced to the area. Homes by Avi was thrilled to be a part of it, and after selling out its condominium developments – August and Argyle – the team is now working on its third one – Autumn – for the community. This six-storey mixed-use development includes 162 spacious studio, one- and two-bedroom units that draw on 18 different floor plans to ensure homeowners will get just what they want. “It’s a great development and a really unique place. They’ve created a whole new community with shops and restaurants on the main floor of the multi-family buildings,” says Amir.

August at University District

The builders’ customers know they’ll get something special from Homes by Avi, and University District doesn’t disappoint; amenities abound within August, with its rooftop garden and barbeque space, entertaining areas and inhouse fitness centre, and the surrounding community offers a grocery store, restaurants and dog parks just outside its door. Homes by Avi is proud to provide customers with top-quality condominium units in this nationally recognized award-winning development. The company is no stranger to having exceptional developments and customer service being recognized locally, nationally and across North America. One that has garnered awards and a lot of attention is Garrison Woods. “We were involved with a development with Canada Land Company in Garrison Woods, and that was especially fun because it was a real revival of the community where the army used to live. We made it into one of the most interesting communities in North America,” he says. The award-winning redevelopment began in 1998 with phase one of Garrison Woods (together with Artisan Homes) which refurbished the former Canadian Forces Base housing while adding additional new homes that mirrored the architectural look of the original homes built in the 1960s. Garrison Green followed in 2006 and lastly Currie, which is one of Canada’s largest urban redevelopment projects and a great example of new

Homes by Avi | 45 Years | 4

CONGRATULATIONS Homes By A vi on 45 Years. Baywest Projects has developed a superior system to seal windows and doors, utilizing two products, Envelope Sealant and Baywest STM (Sill Trough Membrane). In combination, these products provide great protection against moisture penetration, sealing in the value in your home.

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Dear Homes By Avi, Congratulations to Avi and his family, as well as the entire staff for 45 years of home building. Your dedication and loyalty to employees and trade partners is something that it truly unique in the construction industry and we believe it is a cornerstone to your success as a company. As a trade partner that has worked with Homes By Avi for almost 20 years, we have seen ups and downs in the economy and some crazy changes in the world, but you have always stuck with us through our ups and downs and allowed us to get better, and for that, the Management and Staff at Crystal Waters Plumbing will be eternally grateful.

Here’s to another 45 years!!!! Plumbing, Gasfitting and HVAC in both the Calgary and Edmonton markets. www.crystalwatersplumbingcompany.com

Homes by Avi | 45 Years | 5

urbanism in practice. These communities were designed to encourage connection and engagement by focusing on pedestrian-friendly areas and subscribing to the desire to live, work and play in one area. Amir couldn’t be happier with the result. This revitalized community breathed more life into the surrounding communities as well, making neighbourhoods like Marda Loop more desirable in the process. Homes he built in Garrison for between $300,000 and $500,000 are in demand and now selling for more than $1.5 million. Amir saw the value and appeal of this incredible area at the time and he and his wife were so taken by it that they moved into one of his homes in this charming community. “I love building great communities and bringing amazing homes to people. I live in Garrison Woods among my customers and it’s so great to see people I sold a home to on the street. They always stop and say hi,” he says.

Avi Amir writing personalized cards to new homeowners.

Congratulations on

45 Years of building beautiful homes.

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Homes by Avi | 45 Years | 6

The charismatic home builder always has time for his clients, past and current, and he even writes a personal note to every customer to thank them for choosing Homes by Avi. This genuine appreciation is one of the reasons Homes by Avi has not just survived but thrived in Alberta for 45 years.

THE SECRET TO THEIR SUCCESS Even after its meteoric growth over the years, the company continues to operate as it did at the beginning. Through good times and challenging times, Avi Amir made decisions about how to run his business by what he thought was right, and that strategy hasn’t steered him wrong yet. Sustainability was important to Amir long before it was trendy, and in 1983 Homes by Avi was the second company to be R-2000 certified in Alberta. This began the builder’s practice of using different construction techniques and products in order to build highly energy-efficient homes. Since then, Homes by Avi has worked to reduce waste, reuse materials when possible, take extra care with insulation to limit heat loss and incorporate energy-efficient appliances and high lumen LED lighting in its homes. Green considerations are always top of mind and the company is dedicated to reducing the energy consumption in the homes while working toward eventual net zero operations. There is much for builders to consider when choosing materials to build a house, and there is even more for home owners to consider when selecting their design options. The designers at the Avi Definitions Selection Centre guide customers through thousands of details, from paint colour and tile to flooring style and cabinetry to faucets and finishings. Whether customers favour a traditional aesthetic, an urban modern feel or something in between, this talented team of certified interior designers helps customers

personalize their space from top to bottom to fit their style and lifestyle. In celebration of 45 years in business, Homes by Avi is matching upgraded finishes dollar-for-dollar up to $45,000 on all new homes, giving customers more bang for their buck in the Selection Centre. Homes by Avi is also there to help clients through the most stressful part of buying a new home: the move itself. With the builder’s moving concierge service, customers don’t have to think about coordinating cleaning, setting up and transferring utilities, forwarding mail or sourcing movers. This value-add service shoulders the stress of moving so customers can scrap to-do lists and just enjoy the new home experience. “It’s our way to help our customers and I believe our customers really like it,” says Amir. To Amir, the best part of his business is supporting customers through the home building process and sharing in the joy when they get to start making memories in their dream home. That customer-centric focus earned Amir his first jobs and it’s what helped make his company one of the most popular builders in the province. Homes by Avi has earned its reputation for a quality product and superior service, and the team fiercely protects that reputation with every interaction and connection. They want to ensure customers have a great experience at every step of the process. The team treats every new home as if it’s the only one they are building and they strive for quality that they would want for themselves if they were going to live in it. Standards are high for the Homes by Avi team as well as the subtrades working on sites, and they all work together to ensure they are handing over a well built, well designed, attractive home that will make customers proud. “We make sure that the standard of our construction is high because that really emphasizes the comfort of living inside the house, of keeping the weather outside,” he says. “And

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Congratulations to Homes by Avi on 45 years! We wish you another 45 years of continued success.

Homes by Avi | 45 Years | 7

Calgary and Edmonton team celebrating annual Avi day.

Customers tour the Avi Definitions Selection Centre.

if something is wrong, I always take care of things. I care about the value that they have in their home.” Amir cares about his people too. It’s a family business and Amir treats the staff like part of his family. And what a big family it is. On top of the large number of long-time subcontractors who do the building, there are 240 full-time employees between the Calgary and Edmonton locations. Many of the staff members have stayed with the company for decades because they feel valued, respected and believe in Amir’s customerfirst business model. These incredible people work together to build quality homes for great people. “People don’t quit companies, they quit managers, so we’ve got quality managers that keep our people here,” Amir says.

Congratulations on 45 years of building exceptional homes. We are proud to partner with you in providing great buyer experiences.

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Great communication is preached from the top down, and the Homes by Avi team prides itself on keeping customers updated throughout the process, from the first meeting when they provide information to reports on progress through to handover. After all, the team wants to keep customers excited as their house is being built so they already love it once they move in. This months-long relationship doesn’t end when they pass on the keys. The team continues to reach out through the first year to make sure everything is going well and there are no warranty issues that need to be addressed. “Our people have to be treated well and then the customer will be treated well. And they are the people who keep us in business. Our values of friends, family, community and honesty are very important for us. These are the foundations of our company,” Amir says. Community is a key value, and Avi Amir takes pride in giving back to the communities that have helped him so much over the decades.

Homes by Avi | 45 Years | 10

Avi spends time with trades crew in the community of Walden.

Charron Unger and Vered Amir.

COMMUNITY FIRST In the early years in business, the company was working in Shawnessy which had a community association with insulation issues, so Amir stepped up and remodelled the exterior to make it a more functional space for the organization. That kickstarted the company’s long history of community service. First, a staff member asked if the company would assist with a Habitat for Humanity build to help the charity get started in the province. Homes by Avi bought a lot and sold the land to Habitat for Humanity for half its value and then worked with their volunteers to build a home at no charge. From there, Homes by Avi took up a variety of causes and formed long relationships with organizations including the Calgary Women’s Emergency Shelter (which has since been renamed FearIsNotLove), Calgary HandiBus, Calgary Flames Foundation, Stollery Children’s Hospital and Alberta Children’s Hospital, the Libin Cardiovascular Institute and the Tom Baker Cancer Centre.

Homes by Avi | 45 Years | 11

Julie Berdin President

Bob Doerksen Residential General Manager

CONGRATULATIONS HOMES BY AVI ON YOUR

45 TH ANNIVERSARY! P R O U D PA R T N E R S W I T H H O M E S BY AV I F O R O V E R 30 Y E A R S

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Congratulations on your 45th milestone! Students celebrate building a home at Jack James Highschool.

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As part of the RESOLVE campaign, Homes by Avi donated $1.4 million to the project and did what it does best: committed to construct a building for the Calgary Housing Foundation. The result was The Maple, a 25-unit complex that supplied housing for chronically unhoused women to help them rebuild their lives.

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Congratulations on your 45 years

Another huge community initiative for Homes by Avi is the Rotary Dream Home at the Calgary Stampede that is done in partnership with Calgary Stampede Lotteries and the Rotary Club of Calgary at Stampede Park. For 27 years, the builder has custom designed and constructed a stunning home that is on display during the Stampede. This year’s Dream Home will be relocated to Rangeview by Section23 Developments, Calgary’s first garden-to-table community and a lucky Rotary Dream Home lottery winner will move into the fully furnished $1.26 million home. “We are involved in the communities in a big way wherever we can. We try to concentrate on education, health and homelessness, so anytime we are needed, we are there,” says Amir.

Homes by Avi | 45 Years | 12

Congratulations Homes By Avi on an incredible 45 years! We are honoured to be a part of your story.

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Homes by Avi has been a huge supporter of the industry as well and it endeavors to support educational programs that promote and facilitate the trades. Since 1998, the company has supported Jack James High School’s Knowledge and Employability program (K&E) through a joint home build. The students build a home in their school over the course of the year and then the Homes by Avi team transports this home onto a foundation onsite and finishes the build there.

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“This provides them with hands-on experience building homes, and they get a portion of the profit,” he says. Since 1997, the company has also supported Bishop Kid and Ernest Morrow junior high schools. To further stoke interest in the trades and battle the labour shortages that plague the industry, the company contributed $1 million to build the Trade and Technology Complex at SAIT in addition to another contribution of $1 million that is split between SAIT and NAIT to promote education and training for construction trades

Congratulations Home by Avi on your 45th anniversary! We look forward to collaborating successfully together for many more years to come.

Homes by Avi | 45 Years | 13

students. Both Amir and Ungar are active in various associations on the local and provincial levels to keep the industry strong.

THE NEXT 45 YEARS Homes by Avi will continue to evolve to meet the shifting needs of home buyers in an ever-changing market, all the

while preserving what made the home builder special and successful from the beginning – providing incredible service to customers as they build their dream home together. And it’s a source of pride for Avi Amir to see the second and third generation of customers coming to Homes by Avi for their homes, and watching the second and third generation of his family doing such a stellar job serving them. Companies, like houses, need to be built on a strong foundation and that’s what allows Homes by Avi to make dreams come true for Alberta home buyers.

245 Forge Road SE Calgary, Alberta T2H 0S9 T 403.536.7000 • F 403.536.7001 info@homesbyavi.com homesbyavi.com

Homes by Avi | 45 Years | 14

THE TRANSFORMING ENERGY CONSTRUCTION SECTOR // ENERGY CONSTRUCTION

THE TRANSFORMING ENERGY CONSTRUCTION SECTOR TH E E N E RGY CONSTR UCTION BOTTOM LI N E

BY JOHN HARDY

n life, as in business, nostalgia is often a distant glance into the rearview mirror.

For generations, energy construction, especially in Alberta, usually meant oil derrick/sucker rod pumps dotting the horizon of gaping fields. And Jurassic draglines and bucketwheels, which eventually made way for cheaper and more efficient giant shovels, bulldozers and colossal trucks working in the oil sands. Eventually, energy construction morphed into massive machines trenching and laying enormous stretches of pipeline. Times change. Trends change. Transformational and rising demands, emerging energy needs and the never-ending regulatory changes. The energy sector diversified, and the energy industry transformed. Techniques changed. And energy construction changed, often dramatically.

Experts in the tremendously diversified, and diversifying, energy sector sing the chorus that Alberta’s (and the world’s) energy market is continually changing. Industrial construction is used in nearly every industry, from road and maintenance to building, bridge and forestry. That means that it will also play an enormous role in the changes that are coming to the energy industry. The International Energy Agency projects the rapid growth of renewables, with solar at the centre of this new constellation of electricity generation technologies. Hydropower remains the largest renewable source of electricity, but solar is the main driver of growth, as it sets new records for deployment, followed closely by onshore and offshore wind. Specifically in Alberta, a province that has been known for fossil fuels, where the southern part is seeing a shift as renewables become more of a player in energy production.

PHOTO SOURCE: STRIKE GROUP

BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // SEPTEMBER 2023

THE TRANSFORMING ENERGY CONSTRUCTION SECTOR // ENERGY CONSTRUCTION

Industry insiders offer the disclaimer that the changes don’t necessarily signal a matter of hydrocarbons vs. renewables, against one another. Rather, it’s about all the available forms of energy and how they can complement one another in the context where Canada is transitioning to a lower carbon economy. As energy choices are in-transition, the industry explains that energy construction is also in-transition. When the experts and insiders now talk about energy construction, the references usually cite shoptalk like renewable energy, the internet of energy, energy storage, blockchain, demand side management. The highest profile changes, thanks to a tsunami of technical advancements, is the gradual shift away from traditional fossil fuel power, toward newer, greener and renewable alternatives. Technological advancement will continue to both shape and disrupt the energy industry, and, like dominos, impact the energy construction sector. The cost of solar installation, for example, is continuing to drop as technology advances and becomes more readily available. Sprawling wind farms, massive solar energy operations, geothermal projects, waste heat recovery facilities and power transmission projects. Rows upon rows of solar panels stretch across 23 quarter sections of Alberta’s Vulcan County fields for the massive Travers Solar Project, the largest of its kind in Canada, blanketing a staggering 3,330 acres. The drumbeats usually credit or blame “climate change” and “sustainability.” But the practical realities show that most industries, particularly the energy construction sector, need to adapt and embrace the gamut of energy production and demand. Particularly in Western Canada, the future of oil and natural gas lies in unconventional resources, such as oil sands and shale gas, or in remote Arctic and offshore supplies. With so many changes in today and tomorrow’s energy demands and impacting energy production, the energy sector, and particularly energy construction, also charts a course of significant changes. Calgary’s Strike Group is a dynamic example.

SEPTEMBER 2023 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

“With strong commodity prices, Strike’s core business of upstream, midstream and downstream oil and gas construction and maintenance has a strong outlook,” says the plugged-in and respected Tyler Pawsey, president and COO of the Calgary-based Strike Group, providing energy and industrial construction and maintenance services across the largest geographical area in Canada. “However, energy transition and GHG emission reduction projects like carbon capture, bioenergy, geothermal, solar, wind and hydrogen are paving the way for future growth. I would classify the level of activity as steady, with a reasonable amount of optimism.” From downstream oil to windfarms as far as the eye can see, and other conventional and renewable supply and demands, energy construction companies must now pick their focus and strategize about not only what to build, but where to build and when to build. The energy construction process gets more sophisticated but also more complicated. The expectation from energy construction is often for turnkey solutions for the renewable energy sector, managing massive projects from the permitting stages, environmental baseline studies, stakeholder and public consultations, stateof-the-art design and design management services, all the way to major equipment specification and procurement and full operating phases. For the Strike Group, new energy demands translate into busy times and loaded schedules. Strike has significantly expanded its integrity program services by over 700 per cent in the last 18 months. Pawsey points out that pipeline integrity and maintenance provide Strike customers with protection and assurance against aging assets. “And, in addition, as Canada enters the LNG market, Strike is planning to be an active participant, by leveraging its substantial experience with gas compression. As a prime / general contractor, the company has successfully installed over 300 MWs of compression power to Alberta’s midstream gas infrastructure.” Despite all the industry changes, and since energy construction has similar speedbumps and challenges as

THE TRANSFORMING ENERGY CONSTRUCTION SECTOR // ENERGY CONSTRUCTION

conventional construction, for the business of energy construction, the bottom line still rules.

actually start in 2024 and beyond. So, this may be the calm before the storm.

“Many companies are still focused on improving their balance sheet,” Pawsey notes. “Capital spending is growing but at a moderate pace. I believe the industry has learned from previous cycles and is approaching the upswing we are currenting experiencing with more restrained and balanced focus.”

All things considered, the future for energy constructions seems positive, although there is no energy construction ball.

One key difference which sets the energy construction sector apart from commercial and residential construction, is the availability of skilled labour. While it is a continuing big challenge for conventional construction, for various reasons, it does not seem to be such a big problem in the energy construction sector.

“A provincial election looms around the corner, and that could introduce some uncertainty and hesitation,” Tyler Pawsey adds with informal speculation and optimism. “I believe all political parties in Alberta must realize the enormous impact a healthy energy sector – all forms of energy – plays in our ability to be fiscally responsible, while ensuring we are providing the right social services to support our communities.”

“Labour shortages have improved since this time last year,” he says. “Wages seem to have levelled off and are remaining competitive. Recruitment and retention are critical HR functions that have an enormous impact to the business. “And no doubt about it. Companies must find ways to differentiate themselves beyond pay rates including flexible shift schedules, remote working options, benefit packages, development and training, opportunities for advancement, and most importantly company culture.” Despite the increased demands and the diversification and growth in the energy industry, the energy construction is busy and getting busier. “Specifically at Strike, we see the remainder of 2023 as staying at consistent levels. Many of the larger projects we are pursuing

BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // SEPTEMBER 2023

CALGARY’S RED HOT RENTAL MARKET // RENTALS

CALGARY’S RED HOT RENTAL MARKET THE PERFECT STORM OF CALGARY HOUSING AFFORDABILITY

BY JOHN HARDY

lthough developers and landlords sometimes beg to differ, spiking mortgage rates, migration and other factors have triggered a perfect storm of Calgary housing affordability. The situations, and the factors, are complicated but CMHC, housing experts and economists detail a certain cause-andeffect about Calgary housing and rental unaffordability. Across the country, high interest rates have left would-be homeowners renting rather than buying, driving up demand in the rental market. Stable youth employment has also boosted demand, as has an uptick in net migration, the report said, given that young people and new immigrants tend to rent rather than buy. But every region has its own unique factors driving up the cost of rent, from an improved economy in the West to the impact of students returning to campus in college towns. The formula shows higher mortgage rates combined with soaring house prices, equals historic low rental vacancy and high rental rates, making Calgary a red-hot rental market.

PHOTO SOURCE: GRANT LEMONS - UNSPLASH

SEPTEMBER 2023 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

“It’s happening in Calgary and in most major markets throughout Canada,” notes Shamon Kureshi, director of the Calgary Residential Rental Association (CRRA) and president and CEO of Hope Street Management Corporation. “The rental markets are hot. There are numerous micro reasons at play to cause this condition, and we recognize the role of rising interest rates to be among the most significant. Specifically, the increased acquisition and carry cost of home ownership caused by higher rates has forced many potential new homeowners to remain in the rental market. This increases both demand and prices for rental homes.” Even now, high interest rates continue to be a spikes in-progress situation. While detailed updates are only issued quarterly by CMHC, the stats, trends and numbers from the first half of the year track that, provincially, rent inflation hit double digits in almost every province. Rents in Ontario, Alberta, British Columbia, Quebec and Manitoba rose 17.1, 13.4,13.2, 12.2 and 12.6 per cent respectively. Calgary, Toronto and Vancouver topped the list of annual rent inflation amongst Canada’s largest markets, with rates climbing 24.9, 22.4 and 18.7 per cent respectively. While the price of rent in Calgary varies depending on several variables including the unit size, number of bathrooms and the location, the numbers show that

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RED HOT RENTAL MARKET // RENTALS

ALSO THE SIGNIFICANT FACTOR OF PEOPLE MOVING INTO – AND WITHIN – CANADA, FOR SCHOOL, WORK OR IN SEARCH OF AN AFFORDABLE PLACE TO LIVE. THE TRENDS UNDERSCORE THAT IT ALL LEADS TO HEIGHTENED DEMAND IN VARIOUS MARKETS, EVEN THOSE WHERE INEXPENSIVE APARTMENTS HAVE HISTORICALLY BEEN FAIRLY EASY TO FIND. the average rent for a two-bedroom apartment is $2,015. A three-bedroom apartment is $2,475. CMHC stats also show that Vancouver and Toronto remained the two priciest rental markets, with average Vancouver rentals at $3,146, and $2,818 in Toronto. The most recent CMHC housing report highlighted differences in what’s fuelling rental demand throughout Canada, but also plenty of similarities. As interest rates go up, it becomes more difficult to buy, pushing more people to rent for longer. Also the significant factor of people moving into – and within – Canada, for school, work or in search of an affordable place to live. The trends underscore that it all leads to heightened demand in various markets, even those where inexpensive apartments have historically been fairly easy to find. The CMHC numbers are also crunched to illustrate one major similarity in what is expected to solve the affordability problem: more housing supply. The report reinforced the urgent need to accelerate housing supply and address supply gaps to improve housing affordability for Canadians. The vicious circle of mortgage rates, migration and affordability are the culprits, CMHC highlights the impact of migration as a rental factor not to be underestimated. The trends and numbers are undisputable. Rental demand is buoyed by a record-high levels of both immigration as well as an uptick of ‘in-migration’ – particularly younger demographics moving to Alberta, and especially Calgary – from elsewhere in Canada. “This provincial migration is significant, because we haven’t seen this for many years,” explains Michael Mak, CMHC’s housing economics specialist for the Alberta region. “What makes today different from previous boom times, is that the current economic growth isn’t entirely linked to strong commodity prices, though those certainly played a role. Employment has also grown in other sectors, especially technology. Today there is a much more diversified economy.”

SEPTEMBER 2023 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

He points out that in-migrants are generally less likely to rent and more likely to purchase homes, although the trend contributes to the high cost of Calgary rents. “Local residents are having to stay in rentals longer just so that they can step up to buy a home.” The CRRA’s Shamon Kureshi admits some key reasons why Calgary is a very low vacancy and hot rental market. “The high mortgage rates cause increased demand from renters who can’t afford to buy homes. And also inward migration from other provinces, because Calgary offers some of the most affordable rental housing of any large centre in the country.” Only educated guesswork can forecast how long Calgary’s hot rental market can last. “We generally see an increase of available inventory by fall, as the summer draws to a close. It is seasonal and not especially related to any economic conditions like mortgage rates and home prices,” he says. “We know that families tend to move during the summer months while kids are not in school, the post-secondary market tends to absorb much inventory as the school semester approaches creating a trickle-down effect to increase the market tightness. And moving in the middle of a Canadian winter is tough.”

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PRIORITIZING EMPLOYEE HEALTH AND WELLBEING // CORPORATE HEALTH

Prioritizing

EMPLOYEE HEALTH AND WELLBEING WORKPLACE HEALTH AND WELLNESS IS A WIN-WIN!

BY JOHN HARDY

rom flexible work schedules and a focus on work/life balance, to reducing the stigma attached to mental health issues, corporate health and wellness are not only vital issues in Calgary business, but also important factors in the recruitment and retention of Calgary employees. “If organizations are not prioritizing employee health and wellbeing,” cautions Melanie Fuller, director of Wellness at Alberta Blue Cross, “they are significantly struggling with the attraction and retention of their valued employees, which is the driving engine of their business and their sustainability.

SEPTEMBER 2023 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

The recent pandemic years have put a spotlight on the importance of mental and physical wellness. In Calgary, as in most workplaces, it has made employees and employers alike realize that a healthy workforce is not only important from a moral standpoint but also from a financial standpoint. In Calgary businesses, corporate wellness programs are proactive and offer many benefits, to both employees and their companies. Recent surveys show that employers are doing more than woke lip service and are walking-the-walk about the concept

// CORPORATE HEALTH

“EMPLOYEES WANT TO CONTRIBUTE TO ORGANIZATIONS THAT ARE MORE ALIGNED WITH THEIR PERSONAL VALUES, AND THE IMPACT OF THE ORGANIZATION, VERSUS THE TRADITIONAL DRIVERS OF ONLY HIGH PAY,” SAYS FULLER. that healthy and happy employees are more effective, engaged and satisfied in their jobs. For employees, health and wellness is repeatedly shown to boost moods and happiness. There is documented proof that that happy people enjoy life, are better employees and better spouses, parents, caregivers and volunteers. It is documented that people who are physically and mentally fit have the capacity, and the ability, to give more to their families, communities and to their employers. Research shows that targeted corporate health and wellness programs increase job satisfaction, helping employees feel more supported by their employers, which increases job satisfaction. They also promote healthy habits. When people have more resources to take better care of themselves at work, they are more likely to live healthier lifestyles. And the programs establish company values, which is crucial. Many people look for a workplace that values its employees, and a corporate wellness program communicates that the wellbeing of everyone who works there is a top priority. “We are seeing an increase in diversity with respect to multigenerational workforces, which is leading to changes in the ways employees want to feel seen, heard and valued. Employees are looking for personalized, flexible and meaningful supports rather than the traditional, one-size-fits-all, check box menu based approach to supporting their wellbeing at work,” Fuller emphasizes. “Employees want to contribute to organizations that are more aligned with their personal values, and the impact of the organization, versus the traditional drivers of only high pay.”

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There’s no doubt about it! Although the various work routine and workplace pandemic disruptions had a significant impact on the health and wellness wants, needs and expectations of employees, COVID merely accelerated the new realities of workplace life. The options and programs offered by employers has been an evolving fact of work-life for years. Some stereotypical early features, like random personal days, gym memberships and massage vouchers, were initially considered more like feel-good “perks” than vital health and wellness benefits. As part of a continual process to improve the physical and psychosocial health of the Calgary workplace, health and wellness programs can help promote

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PRIORITIZING EMPLOYEE HEALTH AND WELLBEING // CORPORATE HEALTH

WHILE THE COMPANY HEALTH AND WELLNESS FOCUS HAS TRADITIONALLY BEEN ON PHYSICAL HEALTH, FOR VARIOUS REASONS AND IN VARIOUS WAYS – PARTIALLY DUE TO THE CONTEMPORARY PHENOMENON OF WORK BURNOUT, QUIET QUITTING AND WHAT HR TYPES CALL THE GREAT RESIGNATION – WORKPLACE HEALTH AND WELLNESS IS ANXIOUS TO GET TO THE ROOT OF THE PROBLEM, AND NOW EMBRACES EMOTIONAL AND MENTAL HEALTH. good physical and mental health. As a result, they can help improve productivity, engagement, morale, talent retention and reduce presenteeism and absenteeism. “Workplace health and wellness programs typically offer health promotion tools, resources or activities that help encourage overall good health,” explains Lin Yu, occupational health, and safety specialist with the Canadian Centre for Occupational Health and Safety (CCOHS). “The programs aim to help workers engage in a healthier lifestyle, both physically and mentally. For example, it may include fitness reimbursements, smoking cessation resources or substance use education and support, offered as part of today’s workplace health and wellness programs.” While the pandemic underscored concern about many aspects of health and wellness, at work and private life, employees

SEPTEMBER 2023 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

now embrace the new realities, and opt for science vs. fads. “The pandemic has revealed the multidimensional and omnipresent nature of wellness,” Fuller says. “Self-care is no longer something that we do for an hour a day, a few times a month or only when we are on vacation. It is an essential focus to be embedded in daily lives and priorities, with expectations expanding in workplaces and workspaces. And it is important to for employers to focus on solid science and evidence. Wellness and wellbeing have become new buzz words for products and services, and the adoption of wellness practices is accelerating at a much faster pace than the scientific research validate, especially in areas like supplements, functional foods and commercial products.” While the company health and wellness focus has traditionally been on physical health, for various reasons and in various

// CORPORATE HEALTH

ways – partially due to the contemporary phenomenon of work burnout, quiet quitting and what HR types call The Great Resignation – workplace health and wellness is anxious to get to the root of the problem, and now embraces emotional and mental health. “There is more attention, resources and tools to address psychosocial issues like workplace stress or anxiety,” Lin Yu says. “At the organization level, Calgary leaders and managers can make sure workplace psychosocial hazards like excessive workload are identified, assessed and addressed. At the individual, employee level, health and wellness programs can offer mental wellness resources, confidential counselling services and provide information on community resources for mental health support.”

GO WHERE THE

PROS GO

HR studies and health and wellness consultants emphasize that, for the past three years or so, the largest growing demand for corporate health and wellness remains mental health. Emerging from the pandemic, employees crave meaningful connection to support their social wellbeing, but they are also struggling with financial wellbeing due to worries like the cost of living, interest rates and inflation hitting everyone particularly hard. It all impacts mental health. Despite flex time and remote work, there many stressors on today’s delicate work/life balance. “In some sectors, employees are working longer hours due to the labour shortage, and they are experiencing higher rates of burnout,” Fuller notes. “Often, this leads to an erosion of their health and wellbeing and from the company’s side, an increase in absenteeism, health care costs and resignations. Changing values of employees, with a greater focus on their wellbeing, is paramount in their decisions of what work they will do and who they will work for.” As physical and mental health gain acceptance, not as perks but essential aspects of the Calgary workplace, attitudes are changing. It was so long ago that talking about mental, at work, was avoided, not only for ‘what will people think’ worries but as perceived liability of weakness, losing a promotion or not getting a raise. And while talking about depression, anxiety and other mental health issues is becoming more common, there’s still lingering concern about being judged by co-workers and management. The encouraging good news? Workplace health and wellness now includes mental health programs and training on resilience, wellbeing and burnout. Many Calgary companies have also started to enhance health benefits, as well as offering employee and family assistance programs to provide more mental health support. “There is less stigma and increased openness around individuals expressing that their mental health is a priority,” she says, “and they are looking for more ways to protect it and are reaching out for supports when they need it.”

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Page 1 - An Update on BOMA Calgary’s 2023 Advocacy Efforts Page 5 - BOMA Insider

NEWS FALL 2023

An Update on BOMA Calgary’s 2023 Advocacy Efforts By Jay Islam Government and Member Relations Manager, BOMA Calgary

023 has already been a strong year BOMA Calgary’s for advocacy, one of our three key pillars. Along with our industry partners we have been working on a variety of files to support our members’ priorities. Below is a snapshot of the top items we’ve been working on this year. In addition to the below, we’ve continued to represent Calgary’s commercial real estate industry across panels, committees, working groups and ad hoc initiatives to ensure your voice is heard by all levels of government. DOWNTOWN SAFETY At the end of March, we closed our Downtown Safety Survey which collected information on the ground impacts to the commercial real estate industry in 2022. The information collected was shared with policy makers to inform upcoming decisions on how to improve downtown safety. BOMA Calgary, along with NAIOP, the Calgary Downtown Association, and the Calgary Chamber of Commerce, has been meeting with municipal representatives including Mayor Gondek, Calgary Police

The information collected was shared with policy makers to inform upcoming decisions on how to improve downtown safety. Service and many other members of City Administration to advocate for more action to address downtown safety concerns from members and tenants alike. We have remained steadfast in advocating for the need to implement immediate, short-term and longterm strategies to support the vulnerable population in our communities. We are currently working with City Hall to develop a holistic action plan to support the initiatives taken on by our members at a building level for the last two years.

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Executive Officers

CHAIR Rob Blackwell, Aspen Properties CHAIR- ELECT Candace Clark, Triovest Realty Advisors TREASURER Tanya Befus, Cadillac Fairview PAST CHAIR Richard Morden, QuadReal Property Group

Directors

Aaron Pratt, Allied Properties REIT Keri Cormier, QuadReal Property Group Talia Purdy, BentallGreenOak Giovanni Worsley, MNP LLP Colin Norris, Insignia Asset Management Blair Carbert, Carbert Waite LLP Carla Fedele, Choice Properties Dan Lindsay, Surety Technologies Dominik Hubaczek, Oxford Properties Graham Halsall, ONE Properties Kevin Morgans, Avison Young Laurel Edwards, Avison Young

The Building Owners and Managers Association of Calgary publishes BOMA Calgary News quarterly. For advertising rates and information contact Business in Calgary. Publication of advertising should not be deemed as endorsement by BOMA Calgary. The publisher reserves the right in its sole and absolute discretion to reject any advertising at any time submitted by any party. Material contained herein does not necessarily reflect the opinion of BOMA Calgary, its members or its staff. © 2015 by BOMA Calgary. Printed in Canada.

PROPERTY TAXES Property taxes in Calgary have remained a key point of concern for many of our members over the last decade. Working with the same group as above, BOMA Calgary has continued to advocate for a tax shift to reduce the tax burden on our members and tenants as our non-residential to residential tax rate ratio has creeped up to 4.26:1, edging closer and closer to the 5:1 legislated limit in Alberta. We have reiterated to Calgary City Council that the time to act is now to address these systemic issues that have increased the cost of operating in Calgary steadily over the last decade. Without this change, Calgary’s competitiveness will continue to dwindle. In the coming months, we plan on reengaging with City Administration, Council and our industry partners to continue voicing the need to change dependency on our downtown core to carry the lion’s share of tax responsibilities.

In the coming months, we plan on reengaging with City Administration, Council and our industry partners to continue voicing the need to change dependency on our downtown core to carry the lion’s share of tax responsibilities. UTILITIES DATA SHARING As ESG reporting and benchmarking becomes more commonplace within the industry, we have identified that many of our members are struggling to receive the data they require from utility providers to meet reporting requirements and plan for the future. Working with our counterparts in Edmonton, BOMA Calgary and NAIOP have been advocating at municipal and provincial levels to update regulations as well as processes to make this data easily attainable for our members. While we are in the early stages of this advocacy, we have heard this is a critical gap for our members and are working diligently to secure the changes needed to create a better operating environment for all our members. As the needs of our industry continues to evolve, BOMA Calgary is proud to represent your voice. We are excited to work with our members, tenants and industry partners alike to continue to advocate for our industry at all levels of government.

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Thank you to those who attended the BOMA Excellence Awards Gala at the Hudson Event Venue on May 4th. Congratulations to all awards recipients! Thank you to all the applicants, judges, sponsors, attendees and volunteers who helped make this night such a huge success. Here are some of the highlights:

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“I’M REALLY GOOD ON THE RANGE! WHY CAN’T I TAKE IT TO THE COURSE?” // SCOTT ORBAN

McKenzie Meadows Golf Tip: “I’m really good on the range! Why can’t I take it to the course?” BY SCOTT ORBAN, PGA EXECUTIVE PROFESSIONAL, MCKENZIE MEADOWS GOLF CLUB

“I

’m really good on the range”. I heard this again today, and I hear it all the time. Funny, when I watch golfers on the range, I do not share their sentiment. Our perspectives and expectations do not seem to match at all. There is definitely a place on the driving range for developing repetition and confidence. However, if you are really looking to take it to the golf course, then you may have to expand your level of expectations on the driving range.

or alignment tools (sticks) to define the target. From behind your ball, see where the stick’s physically aligned. Use the tools to help you square your clubface and square your bodylines to the target line consistently. Hit five balls with each club and keep track of your accuracy. (13 golf clubs x 5 shots each = 65 balls.) Count how many good shots you have. Now what was your percentage of good shots? To be accountable, you need to measure performance.

When I perform a swing clinic, I start by hitting shots out on the range with no pre-defined target. I feel free and it is easy to hit good shots in the air and they look great. Then I define to the group the distance and the direction to a target I want to achieve. Instantly, the crowd’s expectation goes up, my expectations increase and my anxiety matches this. My shots still fly high and look good, but needless to say, they do not all fall right on target.

Bring the Course to the Range – Scrimmage

My coaching philosophy includes separating our range and other practice into two separate development stages: 1) swing building, 2) take it to the course – scrimmage. A requirement of both of these is to define a target. On the course, you always have a pre-defined target.

Swing Building You are going to build your swing on the range from a perfect lie, a level lie and with a pre-defined target. Use range mats

During a round of golf, you would not have the same lie, the same target, the same distance, the same visuals and hazards, or hit the same club repeatedly. So try to simulate this on the range as best you can. Hit off grass, and although the lies will be flat and perfect, we will leave that as your advantage. For each shot use a different club and select a different target (distance and direction). Do not use alignment aids. When I practice this scrimmage, I visualize playing McKenzie Meadows, selecting the clubs I would typically use in a round of golf. When possible, I even create different lies, and also demand different shot shapes to make it interesting. To be accountable, you need to keep score. So what is a good score? Take your objective score and subtract 36 for putts and 9 shots for chips. In this example if your objective score is 89, subtract 45 (putts and chips), which will leave you with 44 balls to test your skills. Of the 44 shots, what percentage achieved an acceptable distance and direction? This will give you a base percentage and one you can work toward improving. You may be surprised that the same golfer from the course shows up at the range when you test yourself. Make yourself accountable and be honest on the range for every shot for range practice. You will improve your focus and you will take it to the course… guaranteed.

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Mickelson National Golf Club welcomes you to a brand new state-of-the-art Clubhouse, opening this June. This unique golfing destination offers golfers an 18-hole championship course with expansive views of Alberta’s endless skies and majestic mountains. It’s more than just a golf course. Our Club is a place where friends and family come together and make lifelong memories. To learn more about our various membership options and to tour our facilities, please contact our Membership Director, Jag D. Sahota, at memberships@mickelsonnational.com.

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www.darcyranchgolf.ca BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // SEPTEMBER 2023

The Calgary Chamber exists to help businesses thrive. 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 132year history to serve and advocate for businesses of all sizes, in all sectors and across the city.

Uplifting Small Business and Enhancing the Local Economy Small Business Week celebrates Calgary business owners and entrepreneurs this October

very year, the Calgary Chamber of Commerce invites the local small business community to come together to connect, learn and grow during Small Business Week. From networking events to connect with like-minded, growth-oriented business leaders to thoughtful panels that expand on how to get the most out of their efforts, Small Business Week is packed with events designed to support and accelerate the local business economy.

through both direct and indirect benefits, as there is added support for local suppliers and services, further enhancing the economic impact within and throughout the city,” says Yedlin. “Small businesses make up 95 per cent of all businesses in Calgary, driving our economic growth and adding to the city’s vibrant community and dynamic business ecosystem.” “With over 55,000 small businesses located right here in Calgary, there’s a lot to celebrate.”

CELEBRATING SMALL BUSINESS Small businesses are sometimes overlooked, but as Calgary Chamber president and CEO Deborah Yedlin explains, small businesses are vital to Calgary’s economy and deserve their time in the spotlight. “Small Business Week is a reminder of the importance of the small businesses that power Calgary’s economy,” she says. “As an entrepreneurial city, Calgary has the second-highest number of small businesses per capita in Canada. These businesses employ Calgarians, ensuring our economy is resilient, vibrant and responsive to the changing economic environment. This, in turn, attracts talent, investment, innovation and opportunity to our city.” Small businesses benefit the local economy in a big way. “The ripple effect of small businesses can be seen

SEPTEMBER 2023 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

COMMUNITY BUILDING COMMUNITY Zak Biggs, director of Public Affairs at Goodlawyer, a Calgary-based legal-tech company, says the team is proud to be headquartered in Calgary because of the entrepreneurial spirit and sense of community among the people and local businesses. “Goodlawyer’s founders chose Calgary as our home because of the community’s can-do spirit, vibrant energy and the supportive ecosystem for emerging and highgrowth businesses,” he says. “It’s a city where people rally around one another, and it’s full of ambitious entrepreneurs eager to solve problems and make their mark. That’s the kind of environment that fosters creativity and resilience, both essential elements to any successful business.”

In 2022, Goodlawyer won Business of the Year at the Calgary Small Business Awards. From offering innovative solutions to find affordable legal services to being an integral part of building up the Calgary business community, there were many shining factors that contributed to Goodlawyer’s win. “Winning Business of the Year in 2022 was a true honour and a testament to the hard work and dedication of the entire Goodlawyer team,” says Biggs. “It wasn’t just an accolade for us, but an affirmation that our mission to democratize legal services is resonating with our community. It gave us a renewed sense of purpose and motivation to continue pushing the boundaries of what a legal tech company can achieve.” To give back to the business community that has lifted them up, the team takes part in several initiatives that enhance other business owners and leaders by creating events and networking opportunities.

SMALL BUSINESS WEEK | OCTOBER 16 - 20, 2023 Entrepreneurs and small business owners spend most of their time moving their businesses forward, creating jobs and building community. Small Business Week celebrates Calgary’s best – the hard work, economic contributions and the impact on our city and beyond.

Small Business Week Kickoff October 16, 5 p.m. - 8 p.m. • This reception-style networking event kicks off Small Business Week 2023! Enjoy appetizers and drinks while connecting with owners, operators and business leaders. Come together before a week dedicated to small- and medium-sized businesses across Calgary. • Tickets: Members: $35\Non-members: $70

Navigating Negotiation: Strategies for Success

“With the support of some incredible organizations, our events have brought together 500 of the most prominent founders, investors and ecosystem builders from across the country,” says Biggs. “Goodlawyer hosts these events to give back and help others connect while changing the narrative around our home city. We’re proud of these events that have helped put Calgary and Alberta’s innovation ecosystems front and centre.”

October 17, 5 p.m. - 8 p.m.

Along with their own initiatives, the team at Goodlawyer highlights Small Business Week as a key event for networking in the city.

Advancing Indigenous Entrepreneurs

“Participating in Calgary Small Business Week has always been a significant part of our calendar,” says Biggs. “It’s an opportunity to connect with other businesses, learn from their experiences and foster relationships that extend beyond the week. We’ve seen first-hand how these connections can lead to partnerships and collaborations that benefit not just our business, but the broader community.” The Calgary Chamber has sponsorship opportunities available for Small Business Week! Go to calgarychamber.com/sponsorship or email the Calgary Chamber at sponsorships@calgarychamber.com to learn more. For more info on Small Business Week and to register for the week’s events, visit calgarychamber.com/ small-business-week.

• From employment contracts and conflict resolution to large-scale, multi-million-dollar deals, negotiation is a key part of running any successful business. Our panel of experts have mastered the art of negotiation and will be explaining how to tackle even the toughest deliberations. This discussion will have real, impactful takeaways you can put into action. • Tickets: Members: $39\Non-members: $79

October 19, 5 p.m. - 8 p.m. • A key component in the journey towards truth and reconciliation is making sure the business community continues to address current issues and create a better future for Indigenous entrepreneurs. This panel discussion will focus on shared experience and the role the business community can take to support the advancement of Indigenous entrepreneurs. • Tickets: Members: $39\Non-members: $79

40th Calgary Small Business Awards Gala October 20, 5 p.m. - Late • The Calgary Small Business Awards Gala is a celebration of the change makers, creators, innovators and those making a positive impact in our city. Celebrate as eight local businesses are awarded before Calgary’s business community! • Tickets: Members: $109\Non-members: $219

BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // SEPTEMBER 2023

SMALL BUT MIGHTY // SMALL BUSINESS WEEK

SMALL BUT MIGHTY CALGARY’S ENTREPRENEURIAL SPIRIT ON DISPLAY AS SMALL BUSINESS WEEK RETURNS BY JAMIE ZACHARY

algary’s entrepreneurial spirit is set be celebrated next month as the Calgary Chamber joins the community at large to celebrate small business owners who are making lasting impacts in our city and beyond. Calgary Small Business Week returns to the city October 16 - 20 with a slate of special events, networking opportunities and the 40th edition of its awards gala. Brett Colvin is no stranger to the annual celebration. At last year’s gala, the co-founder and CEO of Goodlawyer was joined on stage by members of his staff after the company captured the coveted ATB Small Business of the Year Award. Goodlawyer’s model is to offer more affordable legal services to companies ranging from early-stage startups to high-growth enterprises. It accomplishes this by providing access to lawyers that Colvin says can realize efficiencies

not possible with traditional law firms, and therefore more accurately bill their clients. On the eve of this year’s festivities, he offers some advice to the 2023 nominees – and any small business owner, for that matter. ABOVE: STAGEHAND CONNECTS ARTISTS WITH VENUES TO BOOK AND PROMOTE LIVE EVENTS, INCLUDING OPPORTUNITIES TO ACTIVATE PUBLIC SPACES SUCH AS STEPHEN AVENUE. PHOTO SOURCE: AINSLEY CHRISTINE

BELOW: BRETT COLVIN, CO-FOUNDER & CEO OF GOODLAWYER. PHOTO SOURCE: GOODLAWYER

SEPTEMBER 2023 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

SMALL BUT MIGHTY // SMALL BUSINESS WEEK

“First, you have got to embrace the fact that you’re going to keep iterating. That’s been part of the mindset at Goodlawyer – to keep iterating as we learn new stuff,” says Colvin, whose 25-person team oversees a network of more than 130 lawyers across the country with 5,000 clients and counting. “Second, it’s going to be harder than you think, so you really got to love it. If you can’t enjoy the journey, it’s going to be a real challenge for you.” Derek Manns knows a bit about that journey. The engineerturned arts advocate co-founded Stagehand in 2016 as an online platform that connects artists with venues to book and promote live events. Today, his five- to six-person team are striving to shift the arts and culture paradigm by, helping people understand that there is a different way to creating live events. “Stagehand is like Airbnb to a physical cultural centre or to a physical entertainment district,” says Manns, whose platform also takes care of many of the logistical details behind live events such as the contracting process and postevent data collection. “We are just looking to make that whole process easier so that any coffee shop, microbrewery, restaurant or small business can connect and work with artists to activate their space.” First launched in Alberta, Stagehand now works with artists and venues across North America, most recently including Vancouver, Los Angeles and New Orleans.

Manns credits much of his company’s growth over the past few years to persistence and old-fashioned networking. “There are a lot of stakeholders in this space, so it’s been about spending time getting to know them and having them get to know you,” he says. “There’s some credibility building that needs to happen with any small business. Has it felt like a slow process at times? Sure. But it’s how we’ve gotten to where we are today.” Like Manns, Melissa Caouette is similarly looking to shift the paradigm with MC Consulting – in this case, with how companies look at political risk. Caouette founded MC Consulting in 2021 as a boutique practice that works with clients to anticipate, interpret and mitigate political risk – notably, how government decisions may impact businesses. Since then, her team of four has worked with large nonprofits, economic development organizations and private companies to help them, “understand political risks so it’s on the same level as financial risks, marketing risks and human resources risks.” “(Political risk is) often overlooked because it’s not necessarily in the mainstream and a lot of people don’t really understand it,” says Caouette, who has previously worked for the Government of Alberta, as well as in policy development and public relations. Like Colvin, one of her biggest learnings since launching MC Consulting was to embrace the pursuit of continuous

ABOVE: GOODLAWYER IS NO STRANGER TO SUCCESS HAVING CAPTURED THE ATB SMALL BUSINESS OF THE YEAR AWARD IN 2022. PHOTO SOURCE: GOODLAWYER

BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // SEPTEMBER 2023

SMALL BUT MIGHTY // SMALL BUSINESS WEEK

“IT’S REALLY A LOT OF WORK AND YOU ARE TAKING A BIG RISK. YOU’RE REALLY PUTTING A LOT OF FAITH INTO AN IDEA THAT MAY OR MAY NOT WORK OUT,” SAYS CAOUETTE. improvement. It’s what led her in 2022 to launch Pocket Lobbyist, a digital platform that provides members with access the resources needed to implement effective lobbying and government relations strategies. “It provides members with briefing notes, background information, templates, analyses – documents that help individuals and organizations understand political risk,” says Caouette, noting the platform today is used by executives, associations, non-profits and consultants. Caouette says she launched Pocket Lobbyist because she noticed a gap in the market for those who didn’t need a lobbyist or a full-time consultant but had an interest in understanding what’s happening and wanted access to highquality, well-researched analysis and information documents. “I knew I wanted to create something that complemented what I was already doing as a small consulting business that could grow,” she says.

“If you are not somebody who can afford the often high price point of a lobbyist or consultant, you are sort of left without an affordable and trustworthy resource. That’s why we really wanted to fill the gap.” Looking back, Caouette says the early success of both businesses so far has also come with several a-ha moments that serve as advice to other entrepreneurs. “One of the things that has really struck me over the past two years since starting a business is … there’s this perception that if you own your own business that everything is really easy and there,” she says. “But it’s really a lot of work and you are taking a big risk. You’re really putting a lot of faith into an idea that may or may not work out. “So, I’ve just developed a real appreciation for the amount of mental toughness that’s required to be a small business owner because it’s not always easy.”

TOP LEFT: STAGEHAND CONNECTS ARTISTS WITH VENUES TO BOOK AND PROMOTE LIVE EVENTS, INCLUDING OPPORTUNITIES TO ACTIVATE PUBLIC SPACES SUCH AS STEPHEN AVENUE. PHOTO SOURCE: AINSLEY CHRISTINE

TOP RIGHT: MELISSA CAOUETTE, FOUNDER, MC CONSULTING.

SEPTEMBER 2023 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

Dee, Tom, Brett, Louis, Cathy, Mona and Bill.

CHINOOK PUMPS A Milestone of Excellence

Published by Melissa Mitchell with Photos by Courtney Lovgren

or Calgary’s Chinook Pumps, the 35th Anniversary is not only the milestone of an exceptional reputation of service excellence, but also a testimonial to the importance of innovation and change. Mostly because technology changes. The products – well systems, septic systems, heat watering pumps, de-watering and circulation pumps and controls – change. The wants and needs of customers change. And for the expert and up-to-date Chinook Pumps specialists, skills and service expertise changes. The 35 years of experience and earning a solid and respected Calgary reputation are invaluable. And it is a contemporary business basic that technology is a game changer.

“Digitization is being adopted throughout the world, and the pump industry is no exception,” says the plugged-in Tom Hill, founder and owner of Calgary’s Chinook Pumps. “New technology is designed to be super user-friendly, while providing more advanced and customizable settings.” Crucial things like service logs, schematics and installation documents can be uploaded with ease and accessed within a web-interface, to not only monitor but also get real time alerts from the pump station. Technology has added features such as integration with the local weather report to log and forecast precipitation, or even the ability to simply tap the phone on a VFD to upload data or add additional input information into the system.

Chinook Pumps Ltd. || Celebrating 35 years

Chinook Pumps Ltd. || Celebrating 35 years || 2

Mirrorable visual interfaces can be pulled up on a cell phone, allowing added efficiency problem solving and recommending changes, using a simplified, step by step guidance for setting the parameters of a pump system. “Predictive analytics is an avenue in which AI-enabled pump systems are expected to be able to reduce overall maintenance costs by up to 30 per cent and reduce breakdowns by 70 per cent, with a far more comprehensive and long-term vision of performance,” he adds. Being up to date with the latest technologies translates into optimum pump and control efficiency. It is a critical aspect of the Chinook Pumps service.

Maple Ridge, BC Canada - Ph 604-420-4332 Fax 604-942-4950 • Toll Free 1-800-595-2632 • www.mancorp.ca

Congratulations Chinook Pumps! We value our relationship and wish you continued success! Proud Distributor of:

Hill emphasizes that upgrading skills is vital to ensure that the Chinook Pumps staff understand the customer’s detailed needs and expertly advise about the best possible package for any given system. “It allows the customer far more flexibility for choosing the application which will work best. As technology continues to advance, it is crucial that we keep up with the latest IT upgrades and stay on top of trends.” In fact, it is the skills and expertise of the Chinook Pump professionals that is the Chinook Pumps difference and advantage. And, after 35 years, it is what earns the respected Chinook Pumps reputation. “It is an important way to ensure the maximum efficiency for the specific pump system needs of our customer.” He is positive and enthusiastic about the impact of technology and the exciting future of Chinook Pumps. “Continuing into the digital revolution, pumps with artificial intelligence (AI) are expected to be the rule, in order to build more efficient, connected pump ecosystems. There is so much innovation in the pump industry, together with the need to manage natural resources and use water efficiently. “Change is always challenging. But with the constant flow of new products, new methods and technologies to effectively get the job done, change is also very exciting.” With more than 35 years of exceptional industry expertise, Tom Hill is enthusiastic about the win-win future for Chinook Pumps. It is all about the expertise, the focus on service and the forward-looking attitude which continues to set Chinook Pumps apart.

Chinook Pumps on 35 years! Your friends at Sego wish you all the best in the years to come.

Visit us at SEGO.CA

CONGRATULATIONS CHINOOK PUMPS ON 35 YEARS!

Western International Plastics (Alta) Ltd. 1450 - 30 Avenue N.E. 1450 - 30 Avenue N.E. Calgary, AlbertaT2E T2E8P5 8P5 Calgary, Alberta

Ph: 403.291.1579 • Fax: 403.291-9057

Complete LineOF Of COMPLETE LINE Pipe 3Plastic Plastic Pipe Copper Pipe

3 Copper Pipe Steel Pipe

3 Steel Pipe Fittings 3 Fittings Back Flow Devices Valves 3 Back Flow Devices 3824 7th Street SE, Calgary, AB, T2G 2Y8 Call us at (403) 243-331 or Toll Free at 1-800-784-4324 www.chinookpumps.com

Valves Bus:3 (403) 291-1579 Fax: (403) 291-9057

Chinook Pumps Ltd. || Celebrating 35 years || 3

Around the Corner, or Around the World Panda Terra Losa 9772 170 St NW, Edmonton, AB T5T 5L9

Panda Sherwood Park 550 Baseline Rd, Suite #200, Sherwood Park, AB T8H 2G8

Panda Sunridge 3184 Sunridge Blvd NE Calgary, AB T1Y 7G6

Panda Cochrane Bay 4, 505 4 Ave W, Cochrane, AB T4C 1A8

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1-877-776-7220

403-816-7220

www.pandaflowers.ca

Panda Flowers, keeping it personal since 1999

Gerry Macdonald Jr, Maureen Macdonald, Gerry Macdonald Sr (seated), Jessica Macdonald, John Hamilton, Jason Isfeld (back row), Gerry Garvey (seated) and Jolene Andrews.

CMS Real Estate Ltd. celebrates 40-year milestone Written by Angela Lovell Published by Melissa Mitchell Photos by Ramsey Kunkel Photography

Realtors: Gerry Macdonald Jr, Gerry Macdonald Sr (seated), Jessica Macdonald, John Hamilton & Jason Isfeld.

MS Real Estate has been a pillar of the Calgary real estate industry for 40 years. As Gerry and Maureen Macdonald celebrate the 40th anniversary milestone, they look back and credit much of their longevity and success to the fact that the client always comes first: “Our philosophy is to provide the best service and guidance to our customers,” Maureen says. They put an emphasis on communication and customer service, building strong relationships, many of which have lasted over four decades.

PERSONALIZED SERVICES CMS offers a full range of services including commercial and industrial real estate sales and leasing, complete property development, commercial property management, condominium management and mortgage brokerage services. The CMS team understands that each business is unique and specializes in providing a flexible, personalized service that is customized to each client’s situation and requirements. CMS doesn’t offer cookie cutter services. The first thing CMS does is determine the client’s goals and objectives, whether it’s development, management, mortgages, sales or leasing. Once they have that, they’re able to tailor the program to meet their client’s specific needs. Being a family business, CMS brings strong family values to each transaction. The values that CMS enshrine are about earning trust and respect from each of their clients and the industry. “We are transparent and open with every transaction, and always have the client’s best interest in mind,” adds Gerry. “We have declined projects where other people involved were not aligned with our values because we honestly believe in building long term relationships.” CMS Real Estate | Celebrating 40 years | 2

“We are transparent and open with every transaction, and always have the client’s best interest in mind,” adds Gerry. THE TEAM For many years, Gerry and Maureen have had strong team members by their side. John Hamilton, a friend and industrial realtor, has been with CMS for 36 years. Gerry Garvey, a friend and successful mortgage agent, has been part of the team for 21 years. As the business has grown, the team at CMS now includes Gerry and Maureen’s son and daughter, Gerry Jr. and Jessica. Gerry Jr. has been a licensed real estate agent and mortgage broker since 2011, while Jessica became a licensed realtor in 2015. They most recently welcomed industrial realtor Jason Isfeld in 2018. Since 2014, Jolene Andrews has worked closely with Maureen and the company’s highly valued subtrades in property management. With the team’s extensive knowledge and experience, they provide many real estate services, making CMS a full-service brokerage. Today, CMS has around 650 commercial, industrial and residential units under their management and has developed 736,900 sq. ft. of industrial and commercial projects. “We took those projects from concept to design, through permitting, construction, leasing or sales, and we still manage a number of them,” Gerry says. “Not many companies are doing that, especially a boutique business like ours.”

CONGRATULATIONS CMS Real Estate on 40 years! We are proud to be a part of your success.

Asphalt paving and snow removal in Alberta Alberta’s leaders in Quality

403.930.0175 • theluxscapes.com

CMS Real Estate | Celebrating 40 years | 3

Promoting Your Professional Image

• Event Branding • Golf Tournament Packages • Custom Recognition and Service Awards • Safety Awards • Corporate Thank You Gifts • Trade Show Giveaways • Conference and Event Planning

403 291-0544 • sales@proimage.ca www.proimage.ca

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loss, significantly extending the life of the garage door, making our doors the most robust in the industry. The CLIMACORE insulation, which achieves the highest possible R-value, maximizing the durability and protection of each product offering to best suit the customer’s needs. Popular Steel-Craft residential doors like Thermo-Craft, the classic design along with the Ranch-Craft, Carriage-Craft, Flush, Contemporary and Mid-Century-Modern, all lead in thermal efficiency. The Ranch-Craft RidgeLine long panel design is a stunning standout on homes across the country. The Carriage-Craft line is distinct for connecting modern technology with a more traditional aesthetic, delivering immaculate fabrication. And some industry-leading commercial products like the SCIndustrial, with two-inch thick polyurethane insulated panels and with an R-value of 19, TD-134 and the Commercial Flush, are several preferred choices for a wide range of commercial and agricultural applications. Steel-Craft’s aluminum doors, SA-6500 and SA-7500 are elegant, practical and durable – whether these doors are for car dealerships, fire halls, restaurants or contemporary homes, just to name a few. Mihalcheon is high energy and animated, not only about the Steel-Craft products but the company’s solid track record of service. “Every aspect of every Steel-Craft garage door is expertly engineered. Combined with the various choices of finishes, lifts and hardware, it is delivered with outstanding customer service.” She is genuine, upbeat and a bit emotional admitting that, in addition to the 60 years of innovation, quality and service and the company’s growth and success, “Much of it is personal.” “The knowledge and experience of our people is so important. It is who we are. Our true strength is our people and our people are our family. We rely on their input and their expertise. We have more than 425 employees

across the country, including Edmonton’s head office and manufacturing centre, and offices in Surrey, Toronto, Calgary, Saskatoon, Regina, P.A., Kelowna, Lethbridge and more.” The motivated and accomplished, Edmonton-based business leader is also openly reverent about family business’ traditions and core values. “My father believed in Edmonton, in Alberta and in Canada. He was enthusiastic about supporting our local communities and our workforce. He was part of the Edmonton Ownership Group of investors, which bought the Edmonton Oilers to make sure the team stayed in Canada. We are a proud contributor to Concordia University for The Mihalcheon School of Management and our continued support of Edmonton hospitals is unconditional and spans more than four decades.” “When it gets right down to it, we are so much more than a Canadian-owned and operated company in the residential and commercial garage door business,” Steel-Craft’s personable Kim Mihalcheon concludes. “We are family and we are community. Putting our people first and being unafraid to be bold and innovative creates success for everyone involved. I am very proud to be part of a Canadian legacy company.”

13504 St. Albert Trail Edmonton, AB T5L 4P4 Phone: 780.453.3761 • Fax: 780.454.1584 TF: 1.800.463.3667 Email: edmonton@steel-craft.ca steel-craft.ca

Steel-Craft Door Products Ltd. | 60 Years | 4

HEMISPHERE CAPITAL MANAGEMENT

Above: Stephan Aronitz, Jim Aronitz, Skyelar Siwak, Dylan Assen, Lauren Normandeau and Joanne Kotulski.

Shows the Benefits of Boutique Written by Rennay Craats Published by Melissa Mitchell | Photos by Rebecca Hardcastle

hoosing a team to manage your money comes down to trust and experience, and Hemisphere Capital Management offers clients both in spades. Jim Aronitz started Hemisphere in Saskatchewan in 1993, offering investment management to a growing client base. After moving the business to Calgary in 1998, he took the opportunity to join forces with a respected colleague, Tom Loucks of Loucks, Lee & Associates, in 2002. At this time, he welcomed another partner, Rick Riffel to the firm. The two partners continued to work together until 2020, when Rick retired from the investment management business. This presented a great opportunity to plan for the future of Hemisphere. 109

Above: Stephan Aronitz, Dylan Assen, Skyelar Siwak and Jim Aronitz.

“We have a young team which is extremely unique. For their age, their experience far exceeds what you would find at our competition,” says Aronitz.

“We knew the importance of having a succession plan and initially structured one where Skyelar became a partner. We have since brought Stephan and Dylan into the firm’s partnership,” says Jim Aronitz, founder and chief investment officer for Hemisphere Capital Management. “We have a young team which is extremely unique. For their age, their experience far exceeds what you would find at our competition.” This team of seven passionate, talented individuals at Hemisphere are dedicated to helping clients manage their wealth. The firm offers both select managed portfolios for clients with between $250,000 and $750,000 of investable assets as well as private portfolio management geared toward clients with $750,000 or more. Unlike larger competitors that require their clients have $1 million or more to invest, Hemisphere appreciates that this starting point is not attainable for everyone. They proudly make discretionary portfolio management accessible to clients in the wealth accumulation phase of their lives. The company also facilitates philanthropy with the Hemisphere Foundation. They help clients set up their own tax-preferred charitable investing accounts through a donor-advised fund. This allows clients to essentially create their own private foundation without the set up and administration costs and responsibilities.

Below: Lauren Normandeau and Joanne Kotulski.

It may be boutique but Hemisphere makes a big impact. The firm is consistently named one of Calgary’s top eight wealth advisors by Advisory HQ, and partner, portfolio manager and chief compliance officer Skyelar Siwak was recognized as one of Wealth Professional magazine’s 2021 Rising Stars in Canada’s wealth management industry. In this maledominated field where only about 10 per cent of portfolio managers are female, Skyelar brings something unique to Hemisphere’s lineup that appeals to existing and potential clients alike. “With the wealth transfer and with women making their own money and financial decisions, it’s definitely something we’re thinking about and can tailor our client experience to,” she says. She and Hemisphere’s team of young professionals represent the next generation of the company and are committed to being around for the long haul to grow clients’ investments. In fact, the portfolio managers apply the same strategies for their personal money as they do for clients, so clients can be confident that the most prudent investment decisions are being made on their behalf. “We’re investing in the same things as our clients so there is a mutual interest. We say ‘we eat home cooking’ which is really rare nowadays,” says Stephan Aronitz, partner and portfolio manager at Hemisphere. That home cooking comes with a heaping side of customer service, and the personalized attention that clients receive not only attracts new clients but retains existing ones. It’s common to have long-time clients refer their children and grandchildren to Hemisphere to start their own wealth management journeys. The team knows that the journey is a marathon not a sprint, and clients are urged to focus on the long-term returns of investing. The tendency toward turnover at large firms can make it difficult to build trust or confidence with clients. Hemisphere’s succession plan ensures that there will continue to be consistent relationships with portfolio managers throughout a client’s investment journey. “The industry stresses this long-term view for investing through retirement. But when you have many financial advisors that are approaching retirement, it’s a lot harder to have that viewpoint. We have the next 30 years laid out for our clients, and they know that these relationships are going to exist over that time frame,” Stephan says.

“With the wealth transfer and with women making their own money and financial decisions, it’s definitely something we’re thinking about and can tailor our client experience to,” says Siwak.

Strong relationships are critical, and Hemisphere nurtures them through accountability, integrity and quality communication. If clients have questions they can always reach and meet with their portfolio manager directly whether that is by phone, in person or virtually. As Hemisphere grows, it is implementing ways to streamline and improve its processes to better serve clients, and the team is integrating new technologies to stay current. The key is to balance growth and innovation with preserving the individualized service that clients have come to expect from the firm. From the beginning, Hemisphere Capital Management has worked hard to deliver the best possible combination of stocks, bonds and other securities for a client’s portfolio. Each client is different so there are no cookiecutter plans and Hemisphere tailors the portfolio to suit a client’s unique financial situation. As an independent firm unbeholden to a specific bank, investment dealer or insurance company, Hemisphere is free to find the absolute best investment for clients. “Financial institutions tend to emphasize their own products. We don’t sell specific products. For us, the client comes first,” says Dylan Assen, partner and portfolio manager at Hemisphere. Today, independent employee-owned investment firms like Hemisphere are the exception, dwarfed by large financial institutions and insurance companies who continue to consolidate the industry. Hemisphere’s independence is what allows the firm to serve their clients’ individual needs without being incentivized to push certain investment products. The team’s disciplined investing protects the downside risks while generating positive returns, and these returns are all verified to show clients they are legitimate.

“Banks tend to emphasize their own products. We don’t sell specific products. For us, the client comes first,” says Assen.

“Hemisphere follows the CFA Institute code of conduct and its best practices. Within the CFA Institute they have the Global Investment Performance Standards (GIPS®). Hemisphere is one of only a few firms based in Calgary that claims compliance with GIPS®. It takes a lot of work but our process for calculating clients’ investment performance is independently verified back to the inception of the firm,” says Jim. For 30 years, the team has gone above and beyond to take care of clients and their nest eggs. With decades of experience behind it and a young, driven team propelling it forward, Hemisphere Capital Management will continue to be one of Calgary’s top choices for investment management.

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

Photo by Courtney Lovgren

Why clients keep coming back to ARUP DATTA ARCHITECT LTD Written by Angela Lovell | Published by Courtney Lovgren

ince he left India for Canada nearly 50 years ago, Arup Datta has built a resume that includes some of the largest, most high-profile developments in the world including West Edmonton Mall and Mall of America. He leads the Calgary-based Arup Datta Architect Ltd., which has a steady and strong roster of committed clients and an

impressive track record of delivering creative and cost-effective designs and has just celebrated its 35th anniversary. The formula for ADAL’s longevity is clear: focus on people; keep up with the trends; maximize each project’s potential (and always try to stay within budget!) ADAL’s clients can count on Arup and his team’s many years of experience and expertise to deliver unique solutions tailored to their needs.

ARUP DATTA ARCHITECT LTD • CELEBRATING 35 YEARS

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Walden Heights Community, Calgary Alberta. Photo by Merle Prosofsky.

PEOPLE CENTERED

Everything that ADAL does revolves around people. People live, people shop, people work, people retire and people have fun, all within the structures and landscapes that they create. Architects take an oath that everything they do will be in the public interest – ADAL embodies that oath in every project design. The true magic, though, is in balancing the interests of everyone involved from the developer to civil planners and urban designers, engineers, contractors and end users. That process begins with one vital but simple step: listening. Arup and the ADAL team listen carefully to the expectations of their clients, then put in the extra time and effort to understand all the other parameters that the team must consider as part of the design. Whether the project is large or small, people from many different disciplines provide input. They all have different considerations and requirements, whether that is from the perspective of the community, the environment, engineering, constructability, or usability. The team is known for its ability to bring everyone to a consensus by delivering design concepts that are viable, uniquely creative and consistently exceed expectations. “Our clients are smart and progressive, and they are constantly watching the changes in the market, so we need to fully understand their objectives and those of the city planners and urban designers, evaluate all the options and provide ideas and solutions,” Arup says. “If we need clarification, we go back. We will go that extra mile and that is what brings the most value to our clients.”

Multi-Generational Seniors Housing, Calgary Alberta.

Each project has its own challenges but their success hinges on two things: the knowledge base of the team and following the project through to completion. They will stay with the project, do all the necessary due diligence, and be there at every step, objectively and patiently working to clear any hurdles to the approvals process.

STAYING CURRENT

The architectural industry is constantly changing, and ADAL works hard to stay abreast of emerging trends, new technology, updates to regulations and codes, and the changing needs of clients and the sectors they serve.

ARUP DATTA ARCHITECT LTD • CELEBRATING 35 YEARS • 2

South Pointe Lexus, Edmonton, Alberta. Photo by Merle Prosofsky.

“We have to be more intuitive about all aspects of design today,” Arup says. “For example, when we are choosing flooring for a seniors’ residence, we must think about the needs of someone with dementia, or how a person with macular degeneration might feel about the lighting. There is constant evolution in the design field and we are always updating ourselves through things like courses and conferences so that we can keep up with emerging trends.”

AWARD WINNING DESIGNS

South Pointe, Calgary Alberta. Photo by Merle Prosofsky.

In the architectural world today, there is increasing demand for adaptive, multi-use commercial and industrial projects

Wishing you continued success and more years of successful collaborations.

CONGRATULATIONS ARUP DATTA ARCHITECT LTD. ON 35 YEARS!

DESIGN-BUILD • CONSTRUCTION MANAGEMENT • GENERAL CONTRACTING 1218, 12 Royal Vista Way NW, Calgary, AB T3R 0N2 I 403-208-1552 I www.brokenstones.ca

ARUP DATTA ARCHITECT LTD • CELEBRATING 35 YEARS • 3

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.