The past year in real estate was a wild out in Canada’s wild west. From major development announcements to record-breaking sales, we look back at some of the biggest market stories in BC and Alberta from 2013.
While it had been rumoured for months, it was formally announced on June 19th that Donald Trump would be lending his name to the Arthur Erickson-designed twisting tower project on the 1100 block of West Georgia Street in Vancouver. When completed, the 63-storey building will be the second tallest tower in the city next to the Shangri-La.
Edmonton’s new arena deal
The financial wrangling over the new Edmonton arena project got so tense that the very future of the Oilers hockey club was in doubt. Luckily on January 23rd, a new agreement was struck between Edmonton city council and the Oilers ownership to finally push the deal forward. On December 3rd, it was announced that the facility would be called Rogers Place after the telecommunications company agreed to commit $700 million to expand their network coverage in area while building upon its sports presence. Ground is set to be broken on the new arena in spring 2014.
While many markets in Canada experienced up and down years, Calgary home prices and sales only seemed to climb higher and higher every month. In December, the Bank of Montreal deemed Calgary the strongest major housing market in Canada.