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As12,000 young hockey players hit the ice this weekend for the 31st annual Esso Minor Hockey Week, many will be lucky enough to play in the handful of sparkling new arenas recently built around the city. But many aging inner-city rinks are in need of urgent repairs, including costly new ice plants that are difficult to fund during a recession. City officials say it may be time to look at bulldozing and rebuilding some of them, as their maintenance costs begin to exceed the amount it would take to build a new one. Jim Murphy, general manager of the 40-year-old Huntington Hills community rink, admits that funding annual maintenance is a struggle. Several projects in Huntington Hills are always being left on the back burner, said Murphy. And while municipal and provincial grants are available, the amounts have to be matched by the community, leaving overall funding always less than what's needed. "There seems to be more of a trend towards capital establishment of suburban rinks," said Murphy. "And for us, coming up with the funds we need can really be a challenge." Some maintenance has been done on the Huntington Hills arena's ice plant in recent years, but the rink needs upgraded electrical components, renovated washrooms, change rooms, flooring and new glass around the boards. Ed Wahl, manager at the Triwood rink in Charleswood, built in 1972, said it, too, is struggling to come up with money for matching grants. "There may be as much as $275,000 available a year through matching grants, but we usually get less than $50,000." Wahl said his wish list is long, including upgrades to the ice plant, a new control panel and oil coolers, an upgraded roof and a new ice resurfacing machine. West Hillhurst, one of the city's older communities, where teams played on outdoor ice in the 1950s until the indoor arena was built in the 1970s, is also looking at a long list of facility maintenance, including roof replacement to improve temperature control. "It's a struggle for everybody," said Darren Oxbury, executive director with the West Hillhurst Community Association. "There just isn't enough grant money available to get these places in the condition that we'd all like to get them in." But as they age, demand for innercity rinks grows as children's and adult groups seek ice for hockey, figure skating or ringette. Murphy stressed that even though they're struggling with upkeep, innercity community rinks provide important services for everyone from seniors to preschool groups. City officials admit that deciding between funding the construction of a new facility or providing grant money for the maintenance of an aging one can be difficult. Since a 2006 feasibility study said Calgary needs 10 to 12 new rinks for its growing population, six new arenas have popped up around the city and its surrounding area. They include two sheets at the Edge School in Springbank, two in Cochrane, one at Max Bell and one opening this month at the old Family Leisure Centre, now called the Trico Centre. With Edge School being built with private funds and the Cochrane rinks paid for by another municipality, the city has only had to invest in two of those six rinks. Max Bell received $11 million in funding while the Trico Centre got $9.5 million. Still, several more rinks are under construction, thanks to financial help from the city and province. A new sheet at Centennial Arenas is expected to be complete by 2011 while three new rinks are slated for Canada Olympic Park by the end of 2010, and a fourth will be complete by 2011. As well, the South Fish Creek Recreation Association is rapidly fundraising for two more arenas to be built within the next three to five years. The city has committed $39 million to help build all of those projects. "We actually should have enough rinks to meet population projections by 2012," said Shelley Shea, manager of arenas, athletic parks and sports development. "There is a lot coming on stream." But Shea admitted that not much money has been available for aging inner-city rinks. A feasibility study to come in front of council by 2011 is expected to outline if the city's recreational needs are being met, and what the future holds for aging rinks. Since it's getting harder to cover the older rinks' growing maintenance costs, Shea said the city may have to look at knocking down some single rinks and building twin arenas at the same sites. "I don't know of any new money coming their way. There's always a shortage of money for older rinks just because they cost so much more to operate," she said. Ald. Ric McIver, whose ward includes the new Trico Centre, admitted it can be difficult to prioritize between old and new rinks. eferguson@theherald.canwest.com © Copyright (c) The Calgary Herald |
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 Calgary’s Downtown safety initiative, Clean to the Core, is paying huge dividends according a recent Calgary Police Service report.
At the annual review of the Clean to the Core and Centre City Safety Impact Team (CCSIT) on Nov. 5, it was announced that downtown crime has reduced significantly.
The report shows that from January to August, crime against people in downtown dropped from 655 during the same months in 2008 to 543 in 2009.
"When Clean to the Core was created three years ago, we were experiencing issues around safety and cleanliness in Calgary's Centre City," said Lorna Wallace, Centre City Implementation Project Manager. "Now, thanks to collaboration and the hard work of over 30 dedicated partners, including The City and many businesses, workers and citizens, we're seeing the positive results that only come about when we work together.”
It’s this holistic approach that has lead to a drop in crime in 2009 compared with the previous three years.
“We’ve tried to break down silos and work constantly together with our partners to work toward a greater Centre City, “said Wallace.
Since its inception in 2006, the Clean to the Core program has added 68 downtown beat officers, 29 bylaw officers, 10 Calgary Transit peace officers and 20 EMS personnel at a cost of a bout $4 million annually. These resources coupled with 16 surveillance cameras installed in three downtown locations and improved C-train lighting equates to a price tag of just over $16 million to date.
At the annual review, Mayor Dave Bronconnier told the crowd that the budget will include another million dollars in funding next year.
The Clean to the Core initiative also includes keeping Centre City’s streets clean. In 2009, Tomkins Park Automated Public Toilet has received about 40,000 uses, 727 kilometres of sidewalks have been swept of almost 11,000 kilograms of debris and 50,000 kilograms of newspapers are estimated to be recycled in the core with new paper recycle bins.
Over 10,000 graffiti tags have also been removed (Here is a link to the pilot project).
“The Centre City is a great incubator for new ideas,” said Wallace, using the successful litter and cigarette-butt bins being used in the core as an example.
***Graph shows property crime's drop from Sept. 2008 to Aug. 2009 compared to the previous three-year average. Social Disorder and Person crime also trend downward.
Original Article
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Calgary’s inner city community got a healthy shot in the arm last week with the opening of the new Sheldon M. Chumir Health Centre in the Beltline. Located between 12th Ave. and Fourth St. S.W., the centre will provide a variety of community-based programs and clinics that will serve those who work, visit and live downtown. The Calgary Health Region’s brand new 300,000 sq. ft., eight-storey facility will take over where the previous downtown health centre on Eighth and Eighth left off when it closed its doors at the end of March. “We’re very excited about the opportunities this new health centre will provide to the downtown and inner city population,” said Thelma Inkson, vice president of the Calgary Health Region (CHR). “By consolidating a number of services into this location, health care providers are better able to work together to diagnose and treat patients and better serve the needs of the community.” Urgent care is one of the first services to open at the centre, which will be available 24 hours a day, every day of the year. Urgent care is for adults and children experiencing unexpected health concerns that are non-life threatening but require same day treatment, including fractures and sprains, lacerations, asthma, mental health crisis, dehydration, pain and infection. “Urgent care at the Eighth and Eighth Health Centre was the first of its kind in all of Canada,” said Rob Abernethy, vice president and associate chief medical officer for the CHR. “We are building on its success with the opening of the Sheldon M. Chumir Health Centre and we’re very excited because this is in direct response to the health care needs of a growing, vibrant downtown.” Other services offered at the centre include diagnostic imaging services like x-ray, CT scans and MRI scans, Calgary Laboratory Services, the Southern Alberta HIV Clinic and Safeworks, the City of Calgary’s program to fight sexually transmitted disease. Additional services will continue to open throughout the year. Construction will be split up into four phases and will include the opening of several services such as a mental health mobile response team, a sexual assault response team, a dental clinic and an adult aboriginal mental health program. The Alberta government provided $82 million in 2005 to fund the construction of the centre and is built on the site of the Colonel Belcher Hospital which opened on June 7, 1919 to care for veterans of World War I. The historical significance of the centre, which has provided health care services to Calgarians for almost a century, has not been lost in the new project. Sixty pallets of the red brick from the old Colonel Belcher facility were salvaged for use in the Sheldon M. Chumir Centre. The brick will be embedded into the on-site walkways to serve as a reminder for the former centre. The centre is named after Sheldon Chumir, a former member of the board of directors for the CHR. Chumir served the community in many ways and was also a Liberal MLA for Calgary-Buffalo, a noted philanthropist, a tax lawyer, a university lecturer and a businessman. He was also a Rhodes Scholar and strong supporter of the Calgary Beltline area. In fact, he grew up only eight blocks away from the building that bears his name. Chumir died in 1992. “Sheldon was a genuine, caring person who worked very hard to help those who were unable able to help themselves,” said N.D. “Skip” MacDonald, a CHR board member. “He was a strong advocate for the less fortunate in life. A lot of the health services that will be offered at the health centre are for these people so this is a fitting tribute to Sheldon’s memory.” —Dan Leahul is the Resident Reporter for the Calgary Real Estate News Read Original Article
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A break in gasoline prices and a few deals at the mall drove inflation down in Alberta again in November, with consumer prices inching up 2.1 per cent from a year ago. While deals were sure to be had at the gas pump, where prices were down 12.4 per cent, consumers did have to dig a lot deeper for necessities such as fresh fruits and vegetables, natural gas and shelter costs. ATB Financial senior economist Todd Hirsch attributed the price jump in fruits and veggies in part to a weaker Canadian dollar. However, he noted November's overall inflation rate is a continuation of a downward slide that started in June, when inflation in Alberta was 4.4 per cent. "Alberta's inflation figures are being swept lower by falling commodity prices, especially crude oil and gasoline, but also by softer consumer demand," he said. Still, Canada's inflation was two per cent in November, the first time in two months that Alberta's inflation edged higher than the nation's. Released Friday, Statistics Canada's Consumer Price Index for November showed that the price of food in Alberta was up 7.3 per cent on a year-over-year basis, led by a 29 per cent jump in fresh vegetables and an 18.8 per cent jump in fresh fruit. The price of cereal puffed up 15.2 per cent, and meat, excluding poultry, rang in 12.6 per cent higher. Natural gas rose 6.4 per cent. Shelter costs were also up, 4.3 per cent. Calgary saw a 2.4 per cent rise in consumer prices in November on a year-over-year basis, while Edmonton had 2.2 per cent. Yellowknife was the highest at 4.7 per cent, and Saint John, N. B., the lowest, at 0.7 per cent. Regionally, still-booming Saskatchewan experienced the greatest price pressure with the annualized rate rising to 3.2 per cent. Last week, the Bank of Canada cut its trendsetting lending rate by 75 basis points to 1.5 per cent in an effort to stimulate the economy. "Overall, this somewhat complicates the Bank of Canada's outlook, as by our calculations it seems as though core CPI could remain above the two per cent level for several months to come," said Charmaine Buskas, economics strategist at TD Securities. "That said, the bank is still going to focus on alleviating the strains on the economy due to the global economic recession and ongoing turmoil in the credit markets," she added. Gina Teel, Calgary Herald; With Files From CanWest News Service;Published: Saturday, December 20, 2008 http://www.canada.com/calgaryherald/news/calgarybusiness/story.html?id=3f43f4a6-1268-4633-ad74-c6abd84f5450
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Rebuilding Canada: Can Our Crumbling Cities Save The Economy? Each morning, Mike Rogers catches a bus at a stop four doors from his house. Mike Rogers takes a Southland transport bus daily from Okotoks to downtown Calgary, paying $240 a month for the service. The Okotoks resident takes his seat at the back--often dozing for a catnap--until he is dropped off an hour later in downtown Calgary."I pay a pretty huge premium," he says of the $240-a-month fee, "but it's worth it." The daily service, operated by local charter bus companies, is offered in several communities surrounding Calgary, including Okotoks, Cochrane, Chestermere and Airdrie. Not only is it convenient for the hundreds of commuters who use the service, it also relieves the pressure on Calgary's congested roadways and crowded C-Train cars. With thousands of residents from outlying centres using Calgary's roads or transit every day, some municipal officials suggest bedroom communities should contribute toward the city's growing infrastructure costs. "Calgary already picks up a disproportionate share -- for example, 12 to 15 per cent of our transit users live outside the City of Calgary,"Mayor Dave Bronconnier has said. "That is being picked up by Calgary taxpayers." This summer, the provincial government announced a$2-billion public transit fund focused on regional co-operation. The plan will be aimed at building public transit infrastructure, including projects such as buying new buses and trains, building regional transit and buying land for rail corridors. Calgary city council will ask the province to pay for the $2-billion southeast leg of the LRT through the new fund, and hopes to improve its chances of getting funding by including commuter buses to neighbouring towns in the plan. Unlike the private buses that Rogers catches each weekday, these ones would be publicly funded and seamlessly connect the bedroom communities directly to the nearest Calgary transit station. Once there is a large enough population, the buses could be replaced by a passenger rail service connecting Calgary with Cochrane, Airdrie, Okotoks, Strathmore and potentially even Canmore. Rick Butler, executive director with the Calgary Regional Partnership, which represents local communities, says the provincial money could go a long way to improving transportation in the region. "The stars are lining up,"Butler says, noting the group had just received a $500,000 grant to explore new transit options when the provincial government announced the$ 2 billion for regional transportation networks. The partnership, made up of 18 communities and one First Nation in the region, is also looking at water usage and land-use planning in southern Alberta. Even companies running the existing private bus service between Calgary and several bedroom centres see a rapid transit commuter system as a good first step. "Any time you put buses on the roads and take cars off the road, it's a good thing for everybody," says Tom Jerersek, general manager of Southland Transportation, which runs the commuter service from Cochrane and Okotoks. Rogers, however, begs to differ. He worries that any attempts to integrate such services will leave more passengers stuck in already crowded C-trains and transit buses. "It would become too convenient," Rogers says. "It will get overused. More people would start to use it. "The fear is that a rail system would probably increase the amount of people in Okotoks." Colette Derworiz, Calgary HeraldPublished: Friday, December 19, 2008 http://www.canada.com/calgaryherald/news/story.html?id=6a4e0f33-a486-46d1-a7db-0c2761e551f8
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Headlines continue to inform us rather harshly that housing sales are down. According to Canadian Real Estate Association figures, Alberta experienced a year-over-year decline in MLS sales of almost 35 per cent, while prices dropped by 4.2 per cent to $338,354. And new construction is also drastically down. That means a big increase in the number of people renting accommodation. Bob Dhillon, president and CEO of Calgary-based Mainstreet Equities has a good handle on the rental market--his company owns more than 5,600 units across Canada; 1,300 of those in Calgary and 1,800 in Edmonton. Mainstreet serves the mid-market range and Dhillon says that his business has been very good over the past while. But the majority of his renters are due to a continuing in-migration of people from Ontario and Quebec where the economy is causing some to seek their fortune further afield. Dhillon says that sector has been particularly strong over the last quarter but yet has been far outweighed by foreign contract workers. The majority of his new renters are from Mexico and the Philippines; they find it easier to rent for the time they are working in Canada. He has 17 men from the Philippines working for his own company, which includes a construction division. Mainstreet specializes in purchasing apartment blocks and upgrading to today's high environmental standards. Although he owns units from the coast to Ontario, Dhillon says he is concentrating on the Alberta market, where he finds a good amount of rental stock for sale. His latest acquisition is a 48-suite block in Cochrane--one of Canada's fastest growing cities. Cash position is excellent and Mainstreet is taking advantage of the decrease in share value to buy back its shares for $6.25 (they currently sit at $5.83). City Search caters more to the executive renter and it also reports a thriving business. Canada Mortgage and Housing Corp. says that Calgary is the most expensive city in Canada for rental properties. Our average is $1,148 per month for a two-bedroom apartment (the same apartment would be $1,095 in Toronto). But that figure is low according to the type of accommodation that City Search leases and manages. It does have condos in the $1,200 to $2,000 range, but most of its properties are in the west downtown and Eau Claire districts, which fetch quite a bit higher. Most newer condos in those areas can ask between $1.75 to $1.90 per square foot, which is down about 30 cents from last year. Furnished units rent for around $2.50 per square foot but in today's market, there is a fair amount of negotiating going on. Armelle Kilpatrick, associate/vice-president property management, says most of its clients are executives and engineers on contract to Calgary companies, generally for two to three years. She says employers today encourage contract workers to rent rather than buy, which avoids having to help sell homes should they want to relocate them to another area. Many come from the U. K., France and India, and those from the U. S. are happy to rent instead of trying to sell their homes back in the States during this depressed time. The company currently has around 250 condos, town houses and houses in its portfolio, with most of the single family homes being in the Mount Royal, Rideau/Roxboro, Britannia and Elbow Valley communities. Its 15 homes in the Mount Royal area are rented out for monthly costs of between $6,000 to $8,500 unfurnished, but partially furnished houses realize from$8,500 to $12,000. Kilpatrick says people owning property in the more exclusive areas of Calgary are shying away from selling right now, so using an agency like City Search to lease, collect rent and manage makes such good sense.
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But to get down to our average of $1,148, there must be many apartments, duplexes and houses available for a lot less and a quick check with the Herald's classified section shows a number of suites available for way under that mark. Within walking distance to the downtown office core you can find several in the $750 to $1,000 range and even homes in outlying districts for around the city average. David Parker, Calgary Herald Published: Saturday, December 20, 2008 http://www.canada.com/calgaryherald/news/lifeathome/story.html?id=c6fc35da-8a85-491f-975d-998389a8f1a7
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Global turmoil takes toll on real estate; Alberta MLS numbers fall 35 per centThe MLS residential market is continuing to reflect the grim economic reality in the country. Sales have plunged from a year ago, average sale prices have dropped and a forecast calls for the housing funk to remain for several more months. According to data released Monday by the Canadian Real Estate Association, sales plunged by 42.2 per cent in November--the second consecutive steep monthly decline -- across the country compared with November 2007. Every province witnessed a sharp drop led by British Columbia at 62 per cent and Ontario at 43.5 per cent. Alberta experienced a year-over-year sales decline of 34.6 per cent.
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Average sale prices also took a hit during the month, falling by 9.8 per cent nationally to$280,880 compared with$311,485 in November 2007. In Alberta, prices dropped by 4.2 per cent to $338,354 compared with $353,125 a year ago. British Columbia registered the steepest drop in prices--12.5 per cent -- to $395,687 from $451,991 in November 2007. September MLS numbers were higher year-over-year in Alberta and it appeared the market was taking a turn for the better, but October coincided with the elimination of 40-year mortgages and zero-down mortgages, said Richard Corriveau, regional economist for Canada Mortgage and Housing Corp. "With that, we've seen a decline in overall activity. It's not a surprise given the current economic turmoil," he said, adding the province remains in buyer's market conditions. Corriveau said the prospect of further price reductions is helping to postpone people's decisions on buying residential property as they take a wait-and-see approach and are in no rush to buy. "We think this type of market will prevail heading into the first six months of 2009," said Corriveau. "And only when buyers really gain confidence that prices have stabilized, and of course economic conditions are improving as well, only then will we see higher sales. On a year-over-year basis, we don't think that will occur until perhaps the second half of 2009 or even into 2010." New listings across the country were also down by 4.6 per cent compared with a year ago, while in Alberta they were off by 18.8 per cent. "The housing market reflects the economic reality of Canada,"said real estate association president Calvin Lindberg in a news release. The association also said research shows the decline in housing activity so far this year translates into $2.8 billion less in spinoff consumer spending in Canada. On a year-to-date basis to the end of November, sales in Alberta are down by 20.3 per cent from a year ago and national sales are off 16.3 per cent.The average MLS sale price for the period is down by 0.7 per cent in Alberta($353,712) and by 0.3 per cent across the country ($304,462). "These changes in the Canadian housing market reflect a broader and weakened picture of both the economy and buyer sentiment," said real estate association chief economist Gregory Klump in a news release. "National sales activity and price trends will continue reflecting increased cautiousness on the part of lenders and buyers, as the economy works its way." Mario Toneguzzi, Calgary Herald Published: Tuesday, December 16, 2008 http://www.canada.com/calgaryherald/news/calgarybusiness/story.html?id=5373cd39-f881-452b-888f-7d0a74c22ca2
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Citizens averse to multi-family units in their neighbourhoods The LRT line is ugly and in the wrong place. That multi-family building will add too much traffic to the neighbourhood. A highrise near an LRT station doesn't fit, causing cars to cut through the community. Similar complaints from Calgarians are heard often as the city attempts to move forward on plans to add more transit and increase the number of people living in established areas. Those already living there --usually in single-family neighbourhoods-- aren't in favour of change and city council sometimes gives in to the dissent. It's a fine line between Nimbyism and legitimate concern about neighbourhood-altering projects. As the city tries to build up, rather than push further out, these battles become increasingly vital. Adding multi-family units to existing community neighbourhoods are almost always accompanied by people worried about esthetics, traffic or access. Getting around initial community disapproval is a barrier the city must overcome as it moves to put more people within its existing boundaries. "It's human nature to get used to what's around you,"says David Watson, the city's general manager of planning, development and assessment. "Another one of our biggest challenges is that although people say they like the idea of (densifying neighbourhoods) it's always somewhere else, seldom next door. "We have to help people through the changes that take place." Even the local poster-development for mixed-use, high density communities--Garrison Woods --was opposed by neighbours in the planning stages. New fire stations, including one downtown, were both met with residents offering "better" locations. Ald. Druh Farrell, a proponent of transit-oriented development, which aims to put high-density residential and retail around LRT stations, says the key to selling often-unpopular projects is good design and more communication with the affected neighbours. "Density is seen as an impediment. The positive aspects are not communicated," she said. Individual alderman have to stop looking at development around LRT stations as community projects, she says"These aren't ward issues. (Transit-oriented development) is a city-wide issue and requires a thoughtful, consistent approach," Farrell points out. Kim Guttormson, Calgary HeraldPublished: Monday, December 15, 2008 http://www.canada.com/calgaryherald/news/story.html?id=f613e4db-0c46-4ce2-988c-a7f444d88989
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As the country's finance ministers meet to plot an economic course, Premier Ed Stelmach warned Tuesday that deflated energy prices may technically send debt-free Alberta into deficit this fiscal year and force the province to tap its $7.7-billion rainy-day fund. The premier's economic forecast is a startling reversal of fortune for petroleum-rich Alberta, which analysts predicted only six months ago was on pace for a record surplus of nearly $12 billion this year. Stelmach said the provincial treasury is being depleted by crashing commodity markets and loss of tax revenue, which could see spending outstrip revenues for the fiscal year -- technically producing a deficit that is illegal under provincial law. To officially avoid red ink in the books and ensure key programs aren't affected, the province's only option may be to draw cash from Alberta's Sustainability Fund, which is designed to cushion Alberta from precipitous drops in resource revenue. The legislation allows the province to transfer cash from the fund to general revenues for various reasons, including if actual resource dollars are less than what was planned for "fiscal policy purposes." In a year-end interview Tuesday, Stelmach told The Calgary Herald: "We might have to dip into it because that's the purpose it was set up for." Calgary Herald © Copyright (c) The Regina Leader-Post By Jason FeketeDecember 17, 2008
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Federal officials told CMHC it could overburden borrowers Canada Mortgage and Housing Corp. officials ignored warnings from senior Finance Department and Bank of Canada officials during the past two years that its active business in high-risk mortgage insurance could overburden consumers. According to sources familiar with the discussions, CMHC executives did not heed the warnings and continued to underwrite larger volumes of insurance policies for risky home loans with 40-year amortizations and minimal down payments. The sources said the federal agency's executives disagreed about the potential risks and defended the creditworthiness of borrowers who were granted insurance for the riskier mortgage products. One senior Ottawa official said CMHC was such a significant underwriter of 40-year mortgage insurance polices that it currently accounts for two-thirds of the nearly $56-billion of 40-year mortgages that were approved by banks, trust companies, credit unions and other lenders during the first six months of 2008. In a statement issued last night, CMHC said it discussed mortgage risks with central bank officials in 2006 after former bank governor David Dodge raised concerns about the new breed of long-term home loans. “CMHC officials took the governor and senior bank officials through the materials and discussed how the product was administered. The Bank of Canada was reassured by the fact that CMHC's product includes no change in mortgage qualification criteria and as such would not be of significant concern to the Bank. We know of no other concerns that the Bank of Canada or the Department of Finance had with our activities that in their view would threaten financial stability,” the statement said. The agency said only a “relatively small” proportion of the $334-billion in mortgages it insures are either 40-year or zero-down-payment mortgages. A spokeswoman declined to put a figure to “relatively small.” Finance Minister Jim Flaherty announced in July that the federal government was cancelling its policy of guaranteeing 40-year mortgages as of Oct. 15 in order to shield Canada from the kind of housing crash that has devastated the U.S. economy. However, according to sources, bank executives had been warning Mr. Flaherty and central bank officials since the beginning of 2008 about a dramatic and unexpected increase in demand from consumers for 40-year mortgages with small down payments. Lenders, insurers and government officials interviewed by The Globe characterized the first half of 2008 as a period of apparent paralysis by federal decision makers. These sources said bank and insurance executives and finance officials disagreed over how to pull the plug on popular and risky mortgage products. One of the few things they did agree about, according to sources, was that there was insufficient monitoring of CMHC, which accounts for about 70 per cent of the total value of mortgage insurance underwritten in Canada. “There is an accountability issue at CMHC,” said one senior Ottawa official, who declined to be identified. CMHC is a federal agency that has been supplying mortgage insurance since 1954, and is currently overseen by Human Resources and Social Development Canada. In response to a question about its accountability, CMHC said in its statement: “The lines of accountability are very clear, like all Crown corporations CMHC is accountable to Parliament through its minister.” When The Globe contacted Human Resources Minister Diane Finley, her spokeswoman replied: “We will have to decline and allow CMHC to respond to the questions applicable.” According to people familiar with CMHC, the agency imported U.S.-style mortgage products to protect its dominant market position from large U.S. insurers who were allowed into the Canadian market in 2006. Canadian laws require borrowers with less than a 20-per-cent down payment to obtain insurance for their mortgages. “They felt they were pushed into to this because of the new competition,” said a person familiar with CMHC. Underlying these concerns, sources said, was a federal internal study launched by the new Conservative government in 2006 to review the possible privatization of a number of agencies, including CMHC. The prospect of privatization, one source said, fuelled concerns that the agency needed to be seen as an effective competitor. CMHC said in its statement that its decision to insure longer-term and lower-down-payment loans in 2006 “reflected the market trends for the period.” Until 2006, the agency and its only rival, Genworth Financial Inc., did not insure mortgages that were amortized beyond 25 years. In February of 2006, several months before four U.S. insurance giants were allowed into Canada, CMHC introduced the country's first 30-year mortgage insurance product. What followed was a ferocious battle for market share between CMHC, Genworth and American International Group, the first of the new insurance entrants. JACQUIE MCNISH AND GREG MCARTHUR From Thursday's Globe and Mail December 18, 2008 at 2:00 AM EST http://business.theglobeandmail.com:80/servlet/story/RTGAM.20081218.wrmortgage18/BNStory/Business/?cid=al_gam_nletter_maropen
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Oh, the weather outside is frightful. The economy isn't much better, and both are bad news for realtors, who generally suffer a slowdown at this time of year, but are now facing a surplus of unsold real estate. Today would appear to be a great time to buy as selection is very good, interest rates have dropped, and it is definitely a buyer's market before inventory gets taken up. In 2008, sales to the end of November have dropped significantly. There were a total of 23,000 units sold--including single-family, multi-family, condos and acreages within the Calgary area--versus 31,000 in 2007. All things considered, that doesn't seem too drastic, although around five per cent of Calgary realtors have decided not to renew their licences. But it is slower at this time of year and some decide to take winter holidays; many deserve a good rest after working extra hard in a down market to earn a living. Others plod on because there are people moving into the city or changing homes for a number of different circumstances. In the past, offers have even been written up on Christmas Eve so realtors that leave the city make sure someone is backing them up. And some are taking the time to become more knowledgeable about the business. One of the interesting courses being made available to realtors focuses on doing businesses with those of different cultures. "Cracking the Code of Diversity - Selling More Homes in Alberta's Changing Marketplace" runs next Thursday, Dec. 18, and is a partnership between Tina Varughese, principal owner oftWorks, and the Calgary Real Estate Board. Varughese, who was formerly with Alberta Employment, Immigration and Industry before launching her own company, says because 25 per cent of Calgary's population comes from outside of Canada, it is important for anyone working in sales or marketing, who wants to become more profitable, needs to understand cultural differences. "Bang on; our realtors need a better understanding of how to relate to our immigrant population," says Ron Esch, executive vice-president of CREB, who has sat throughatWorks seminar. Bill Fowler, director of industry and government relations for the Alberta Real Estate Council and also a seminar participant added, "It is a must for anyone in real estate, health care, banking and the public sector. In the first 10 minutes I learned something that will make my work more productive and make it easier for others to relate to me." It's a course that goes beyond being politically correct; it's good business to be able to communicate cross-culturally. Esch says CREB's mandatory courses have finished for this year and none are required for 2009, although he stresses it is important for realtors to continue their learning process and the board is providing a number of training sessions and workshops. Ken Lamb, broker owner of Real Estate Professionals, redesigned his business model to flourish as the market became more competitive-- offering his realtors a low monthly fee and a deal fee only. His company spends a lot of time on education and since 1993 has worked with a real-estate training group based in the U. S. He and his wife Maria attended a Star Power Group course in Chicago that focused on how to survive in a challenging market, took a seven-day learning cruise featuring 22 world-class speakers including Mark Victor Hansen of Chicken Soup for the Soul fame, and another session by a Newport Beach real estate marketing group. "There's a big difference between just having a real estate licence and acting as a real estate professional," Lamb says. His company has grown to more than 165 realtors in its two offices; all get to learn from in-house seminars. A couple of years ago there was a shortage of homes to buy. Now with fewer new houses being built, a sizable inventory and the expectation that the market will balance out next year, I hope that the realtors who are still out there working hard will have a good run before the Christmas break. David Parker, Calgary HeraldPublished: Saturday, December 13, 2008
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checkCookie(); Pricey plans for the city to acquire the Cecil Hotel have some critics cringing. The Sun has learned the cost for the notorious watering hole is more than $10 million, a deal that aldermen will debate behind closed doors Monday. A tentative deal to acquire the 96-year-old building at 401 4 Ave. S.E. was approved by a city committee earlier this week and the only hurdle is for a majority of council members to sign off on it. But the plan is already under fire. Scott Hennig of the Canadian Taxpayers Federation said with the city paring down next year's tax hike to 5.3% after a wave of taxpayer outrage, it doesn't appear council has learned any restraint when it comes to handling the public purse.
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"I don't think most Calgarians expect that when they pay their taxes the city will use it to buy old hotels," he said. "Most Calgarians expect that money is going to police and fire and transit and that's what aldermen and the mayor told them this money was being spent on in the budget debate. "It's the old bait and switch." The city is considering a number of options for the property, which this week also saw its business licence for the tavern portion suspended following a ruling from the city's chief licence inspector in response to numerous safety complaints. If the deal moves forward, plans for the site would likely include a parkade and a mixed-use development with both residential and commercial facilities. Ald. Ric McIver is anticipating a lively debate when it comes to council and noted with Calgary facing a number of new funding challenges and a faltering economy, getting into business better left to the private sector is a mistake. "To put taxpayers through this at a time when money's an issue and there are other infrastructure needs that need to be financed is a problem," he said. "It's an important corner and it's a building with historic character but this is something that should be led by the private sector." But Ald. Joe Ceci noted the city isn't acquiring a run-down hotel but a strategic parcel of land that will help transform the blighted east side of downtown. "This is an important gateway into the eastern part of the downtown and we have an opportunity here," he said. "The Calgary Parking Authority is always on the lookout for land to do parkades and what better place is there to operate a mixed-use zone?" By SHAWN LOGAN, SUN MEDIA http://calsun.canoe.ca/News/Alberta/2008/12/13/7739581-sun.html
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New house prices in Calgary declined by 1.6 per cent in October on a year-overyear basis--the largest decline for the metropolitan area since November 1991, said Statistics Canada. The New Housing Price Index, released Thursday by the federal agency, showed that, on a national level, new home prices year-overyear increased by 1.5 per cent, a slower pace than the 2.1 per cent advance recorded in September and the smallest annual increase since October 1999. On a monthly basis, prices decreased 0.4 per cent between September and October, the first monthly decrease across the country since September 1998. Prices declined by 0.6 per cent in Calgary on a monthly basis. The largest year-over-year increases were in Regina (22.8 per cent) and St. John's, N. L. (22.3 per cent). Edmonton recorded a 12-month drop of 7.7 per cent, which was the largest annual decline since May 1985. Prices declined by 1.7 per cent in Edmonton from September to October 2008. At the national level, the overall year-over-year increase was comprised of a 0.7 per cent rise in the house-only component and a 3.4 per cent jump in the land only component. For the Calgary census metropolitan area, the house-only component dropped by five per cent on an annual basis while the land-only component increased by 5.9 per cent, said Lai Sing Louie, senior market analyst in Calgary for Canada Mortgage and Housing Corp. "Builders are telling us it's a little cheaper to build a new house than a year ago," said Louie. The Calgary CMA includes the city, Airdrie, the Municipal District of Rocky View, Chestermere, Cochrane, Irricana, Beiseker and Crossfield. Statistics Canada said prices were down 0.4 per cent in Vancouver on a year-over-year basis, the first annual drop since April 2001. Vancouver was also down 1.1 per cent on a monthly basis. In Victoria, contractors' selling prices decreased 1.1 per cent year-over-year, down from an annual increase of 0.2 per cent in September. New housing prices year-overyear fell in only three markets in October--Calgary, Edmonton and Victoria. The dip in new home prices has been mirrored in the resale market as well. According to the Calgary Real Estate Board, MLS average sale prices for single-family homes in Calgary metro in November were$435,471,a drop of 5.8 per cent compared with November 2007. In the condo market, the average sale price fell by 8.6 per cent from a year ago to $285,820. Prices have also fallen in other segments of the MLS market in the Calgary area. For towns outside of Calgary, residential properties sold for an average of $359,400 last month, down 6.2 per cent from November 2007. The biggest drop in price in the past year in the Calgary region was in the country residential (acreage) MLS market, as average sale prices have plunged by 30.5 per cent to $565,889. Mario Toneguzzi, Calgary Herald Published: Friday, December 12, 2008 http://www.canada.com/calgaryherald/news/calgarybusiness/story.html?id=34d35749-af6c-49e1-9781-3f493e3052a9
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People are territorial by nature. So it comes as no surprise when residents who might in principle support a concept that makes our city a better place to live rise up in protest when they find out it might be coming to their neighbourhood. Such was the case with the west leg of the LRT. And it is happening again with a plans for development that would increase population density near C-Train stations. Nearby neighbourhoods are up in arms at a proposal to build a high density hub around the Brentwood LRT station. http://calsun.canoe.ca/News/Columnists/Cla...7694351-sun.php
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