The city of Calgary and the University of Calgary have worked out a deal for new developments on the
West Campus.
Under the Universities Act, the U of C is not subject to the city’s bylaws or development standards.
The package of five agreements was approved last week by city council and sent back to the university for its approval. The province also has to sign off on a land exchange between the city and U of C, says Ald. Dale Hodges, whose ward covers the area.
The deal covers an area bounded by the U of C’s main campus on the east, Shaganappi Trail N.W. on the west and 16th and 32nd Avenues N.W. on the south and north, says Steve Dantzer, the U of C’s director of campus infrastructure.
The new Alberta Children’s Hospital and a Ronald McDonald House will be the first projects in the area, taking up 32 acres. That leaves 76 developable acres left out of 108 acres on the West Campus.
Exactly what else will be added to the campus hasn’t been decided. The U of C will first service the whole area, creating the hospital lot and future university parcels, Dantzer said.
Height restrictions will keep buildings near the University Heights neighbourhood to four storeys, rising to eight storeys in the centre of the West Campus.
A real estate company and a department store chain have formed a marketing alliance that gives points to home buyers.
Sears Canada and Coldwell Banker Canada have agreed that when Sears credit card holders register and then buy or sell residential real estate through Coldwell Banker, they will get 1,000 Sears Club points for every $10,000 value.
Sears HomeCentral will also participate in Coldwell Banker Concierge, a program offering a selection of trusted service providers. Sears HomeCentral will be the exclusive home repair and improvement provider.
Residential real estate is in for a hot autumn, according to a report by Re/Max.
The company said it expects a mini-surge in the market from late September to mid-November.
Comparing the first eight months of this year to the same period in 2001, Re/Max found Kelowna, B.C., to be the country’s hottest spot, with sales rising 40 per cent and the average price up 14.6 per cent to $200,585. In Central Canada, Ottawa house prices appreciated 14.2 per cent to $200,491.
Re/Max also said most markets lacked quality homes on offer, resulting in multiple offers in many centres.
Office vacancies inched upwards across the country, according to recent statistics from Royal LePage Commercial Inc.
The company puts the national office vacancy rate at 10.5 per cent, compared to 10 per cent in the second quarter.
The vacancy rate in Calgary is 10.6 per cent, up from 9.9 per cent. The report cites merger and acquisition activity as well as downsizing in the telecommunications sector downtown.
Edmonton’s vacancy rate went to 11.9 per cent in the third quarter from 11.6 in the second. It was the only major city where suburban office vacancies were lower than downtown.
