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Edmonton is leading Canada in return-to-office trends, says a new report from real estate firm Avison Young.
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Edmonton leads Canada in return to office recovery in third quarter, real estate report says – Edmonton Journal
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At the end of the third quarter, 35 per cent of the workforce in Edmonton was returning to Downtown offices compared to pre-pandemic levels, said the report released last week.
“There’s a willingness to get back to offices and not nearly as much abandonment of office spaces that people had speculated would occur,” said Puneeta McBryan, executive director of the Downtown Business Association.
The “community vibe” of the Downtown, where office workers enjoy meeting with workers from other companies is one factor behind the return, she said. Edmonton has easier access to Downtown with personal vehicles compared to other major Canadian cities where people rely more on public transit, she said.
However, the report notes that office usage Downtown remains about 53 per cent below pre-pandemic levels.
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The trend is being driven by other positive currents, such as a 20 per cent increase in real estate transaction volume in 2021 compared to 2020.
Avison Young cited activity like the Terra Centre for Teen Parents, which sold its downtown location to buy a larger office further west, the Edmonton Catholic Separate School Division that bought a new building in east Edmonton and the Edmonton Police Association that sold its central location for a larger facility in the northwest.
McBryan pointed to real estate services company Savills that announced in April it was opening a new office in Edmonton, near 124 Street.
As pandemic-related restrictions are anticipated to loosen as vaccination rates rise, Avison Young said it expects 2022 to be a “very active year” for office market transactions.
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McBryan is similarly optimistic, noting that the last six months have seen some long-term office leases in the city renegotiated and new leases signed.
“One high profile company is moving into a different Downtown space and another one is making a significant investment in renovating. To remain Downtown shows they have the confidence. But I don’t want to name them before they make official announcements,” she said.
With workers having adapted to working from home, McBryan believes that employers will increasingly introduce more flexible arrangements as employees go back to the office.
Some might ask employees to come to the office for only certain days, and cubicles could become less permanent, with workers booking cubicles only for the days they’ll come in.
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HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.
Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.
Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.
The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.
Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.
They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.
The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.
This report by The Canadian Press was first published Oct. 24, 2024.
The Canadian Press. All rights reserved.
Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.
Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.
Average residential home price in B.C.: $938,500
Average price in greater Vancouver (2024 year to date): $1,304,438
Average price in greater Victoria (2024 year to date): $979,103
Average price in the Okanagan (2024 year to date): $748,015
Average two-bedroom purpose-built rental in Vancouver: $2,181
Average two-bedroom purpose-built rental in Victoria: $1,839
Average two-bedroom purpose-built rental in Canada: $1,359
Rental vacancy rate in Vancouver: 0.9 per cent
How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent
This report by The Canadian Press was first published Oct. 17, 2024.
The Canadian Press. All rights reserved.
VANCOUVER – Voters along the south coast of British Columbia who have not cast their ballots yet will have to contend with heavy rain and high winds from an incoming atmospheric river weather system on election day.
Environment Canada says the weather system will bring prolonged heavy rain to Metro Vancouver, the Sunshine Coast, Fraser Valley, Howe Sound, Whistler and Vancouver Island starting Friday.
The agency says strong winds with gusts up to 80 kilometres an hour will also develop on Saturday — the day thousands are expected to go to the polls across B.C. — in parts of Vancouver Island and Metro Vancouver.
Wednesday was the last day for advance voting, which started on Oct. 10.
More than 180,000 voters cast their votes Wednesday — the most ever on an advance voting day in B.C., beating the record set just days earlier on Oct. 10 of more than 170,000 votes.
Environment Canada says voters in the area of the atmospheric river can expect around 70 millimetres of precipitation generally and up to 100 millimetres along the coastal mountains, while parts of Vancouver Island could see as much as 200 millimetres of rainfall for the weekend.
An atmospheric river system in November 2021 created severe flooding and landslides that at one point severed most rail links between Vancouver’s port and the rest of Canada while inundating communities in the Fraser Valley and B.C. Interior.
This report by The Canadian Press was first published Oct. 17, 2024.
The Canadian Press. All rights reserved.
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