DON’T BE A FOOL
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Developers see opportunity during downturn
DONNA BALZER A7
Sano Stante
2011 CREB® President
A7
A5
FREE may 27 to june 2 2016 issue 06-20 editorial 403-781-1324 advertising 403-263-4940 crebnow@creb.ca
real estate news from industry experts
DRIVING DIVERSITY
Paul Bronfman, left, of William F. White International and Luke Azevedo, right, of Calgary Economic Development were on hand for the offical opening of the $28.2-million Calgary Film Centre. William F. White, which will be the facility’s anchor tenant, has worked on projects such as The Revenant, Spotlight and Orphan Black.
Film centre represents just one example of efforts to transform local economy, say officials in as little as five years, compared to its $175-million share today. While it represents a relatively small slice of the $116-billion local economy, the ripple effect the film and television industry has on other critical areas such as tourism and the attraction of skilled labour, is important, she added. Moran said investment in Calgary industry and infrastructure — such as the construction in the downtown East Village of the new $245-million Central Library and the $191-million National Music Centre — during a downturn, is critical. They give people additional reasons to want to stay in the city, and keeping a skilled labour force brings additional jobs. “The key is innovation and we can be a centre of innovation,” she said. The centre is part of the 10-year strategy for the City of Calgary that will see
FILM CENTRE A3
$441,000
$442,800
$445,000
$447,800
$452,800
MLS® BENCHMARK PRICE* APR ‘14 – APR ‘16
$459,300
$459,100
$459,300
$457,800
$456,700
$458,900
$460,900
$462,400
$461,700
$462,200
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$459,800
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$453,200
$446,300
CITY OF CALGARY
more movement forward as a result of its success. CED has identified key areas of diversification for the city in addition to film and television production that includes tourism, transportation and logistics, agribusiness, and renewable energy.
$454,800
F
ilm production may be the world’s glamour industry, but in Calgary it is shooting to become a new driver of Alberta’s diversified economy. Last week, the $28.2-million Calgary Film Centre opened in a Calgary southeast industrial park, about 20 minutes from downtown. The new facility includes three new sound stages spread across a total of 50,000 square feet and three multi-purpose workshop spaces offering an additional 15,000 square feet. Calgary Economic Development president and CEO Mary Moran said the film and television industry is just one sector being focused on in attempt to diversify the local economy. CED predicts it could provide an annual $500-million injection into the economy
$457,400
for creb®now
$459,300
BARB LIVINGSTONE
CALGARY HOUSING STARTS, SALES TO DECLINE: CMHC
CONTENTS NEWS BRIEFS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A3 EVENT LISTING . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A6 MAP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B1
CREB® STAFF
APR14 MAY14 JUN14 JUL14 AUG14 SEP14 OCT14 NOV14 DEC14 JAN15 FEB15 MAR15 APR15 MAY15 JUN15 JUL15 AUG15 SEP15 OCT15 NOV15 DEC15 JAN16 FEB16 MAR16 APR16
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abour conditions impacted by the languishing energy sector will continue to temper Calgary housing sales, construction and prices this year and next, according to Canada Mortgage and Housing Corp.’s (CMHC) Spring 2016 Outlook for the city.
*All statistics based on monthly data compiled by CREB® via MLS® activity. Includes detached, attached and apartment.
SUTTON CANWEST REAL ESTATE
$200,000
MARKET A3
OPEN HOUSES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B19 MORTGAGE RATES . . . . . . . . . . . . . . . . . . . . . . . . B19 @crebnow
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Donna Williams | 403-617-7749 | donnawilliamsrealestate.com 2 bedroom townhouse in good condition. Developed basement. Fenced west yard. Backs on school. Pet friendly complex. Immediate possession. Condo fee of $335 includes water/sewer. Price Reduced. MLS®C4061270
#39 6020 TEMPLE DR NE
$849,900
2015 stunning fully handicapped capable 1648 sq. ft. custom bungalow. Backing onto Fish Creek Park, w/elevator & AC. Enjoy wildlife and natural light with abundance of windows. Fully dev bsmt w/2 bdrms/3pc & lots of storage. MLS®C4049485
CRANSTON - BACKS FISH CREEK PARK 112 CRANARCH CR SE
$499,900
3 Lots + 26x26 Garage + House. Imagine owning your own little paradise in the city limits, 3 city lots/1990 built 3 bdrm/1450 sq. ft. 2 st & massive garage. Lots of updates have been done, including windows, siding, HW tank & much more. MLS®C4065767
SHEPPARD 11445 86 ST SE CALGARY