Upload
others
View
2
Download
0
Embed Size (px)
Citation preview
Strathcona County Economic Update
March 2018
December 12, 2019
12/16/2019 2
98,38171,332 urban
27,049 rural
2.9% growth over three years. 1% per year
4,371,316 in Alberta (July 1st, 2019)
37,589,262 in Canada (July 1, 2019)
2018 Municipal Census results, Strathcona County, Statistics Canada population estimates Sept. 30, 2019
Population
Strathcona County Fast Facts
Urban and Rural Mix 71,332/27,049
• Sherwood Park
• Ardrossan
• South Cooking Lake
• Antler Lake
• North Cooking Lake
• Collingwood Cove
• Hastings Lake
• Josephburg
12/16/2019 3
Edmonton CMA Stats
12/16/2019 4
Edmonton CMA Stats
12/16/2019 5
New House Avg. Prices (Edmonton CMA)
• The average price for single-family homes absorbed in the
Edmonton region in September increased by almost 4% year-over-
year to $597,913 (CMHC data).
• After 3 quarters this year, the average absorbed single-detached price has declined 0.9% from January to September 2018 to
$554,339.
Population Edmonton CMA 1.42 million 2018
Edmonton Global
12/16/2019 6
Edmonton Global
12/16/2019 7
12/16/2019 8
DEMOGRAPHICS
Work Commute
12/16/2019 9
50%Non-residents
65%Residents
2016 census results
12/16/2019 10
18,650 into SC
12/16/2019 11
12/16/2019 12
$160,655$
2016 McSweeney report
50.7% of total households in Strathcona County
had income of $125,000 or higher
Average income of Economic Families $188,347
Average Household Income
12/16/2019 13
$5.6 billion
Household spending power
People per household
12/16/2019 14
2.7
2016 census results
2.6 for Alberta
2.4 for Canada
Age
12/16/2019 15
39.2
2016 census results, Sept. 2019 Statistics Canada
Average in Canada is 40.8
Average in Alberta 37.1
16
Building Permit Values
16
Projected tax increase
12/16/2019 17
Tax Revenue
Split:
Percentage
(%)
Non-
Residential
64
Residential 36
Tax Increase: 2019 0.83
2020 1.21
2021 1.88*
2022 1.61*
* Projected by Council
Impact of tax rate for site selection
12/16/2019 18
Amazon 1,000,000 sq. ft.
Projected:
Leduc $1.6 million
Edmonton $3.24 million
Strathcona
County
$1.94 million
Housing update Lorenz Team
12/16/2019 19
12/16/2019 20
COMMERCIAL
Retail Market Supply
12/16/2019 21Source: Thomas Consulting Jan. 23 2018
4.1 million sf
226,035 sf
TOTAL
VACANT
~6%VACANCY RATE
Sherwood Park Mall and Centre in the Park
12/16/2019 22
Sherwood Park Mall
New experience coming to Cineplex Cinema Sherwood Park- Multi million dollar investment
• All Recliner Seating: Coming soon in 2020, each of the theatre’s auditoriums will be
upgraded to feature comfortable, extra-wide seats that recline at the touch of a button
12/16/2019 23
Centre in the Park
12/16/2019 24
12/16/2019 25
The Market at Centre in the Park
12/16/2019 26
Cameron Developments – The Market
12/16/2019 27
Savona
Remedy Café Savona Now Open
12/16/2019 28
12/16/2019 29
My Savona www.salvigroup.com
12/16/2019 30
12/16/2019 31
12/16/2019 32
Aspen Plaza Corner of Sherwood Drive & Lakeland Drive
Aspen Plaza Corner of Sherwood Drive & Lakeland Drive (97,112 sq.ft)
12/16/2019 33
www.aspenplaza.ca
12/16/2019 34
Emerald Hills Shopping Centre
Emerald Hills Shopping Centre
12/16/2019 35
Emerald Hills Retail
12/16/2019 36
Emerald Hills
12/16/2019 37
Sandman Signature and Chop Steakhouse
12/16/2019 38
12/16/2019 39
Buckingham Business Park
12/16/2019 40
Buckingham Business Park
Join Peavey Mart - Broadmoor Commercial
12/16/2019 41
Broadmoor Commercial Site Plan
12/16/2019 42
Millennium Ridge Q2 2020
12/16/2019 43
Millennium Ridge Phase 2
12/16/2019 44
Ardrossan Commercial
12/16/2019
• 19.71 Acres for sale
• South Corner with 4-5 acre
parcel for commercial
45
12/16/2019 46
Emerald Hills Retirement Residence by:
Chartwell
12/16/2019 47
Aster Gardens by: Optima Living
Office Leasing
12/16/2019 48Source: Colliers Q3 2019
1.4 million sf
369,804 sf
TOTAL
VACANT
26.3%VACANCY RATE
Broker Reports for Metro Edmonton
Industrial
12/16/2019 49
Emerald Hills Professional Building
12/16/2019 50
Wye Business Centre
51
12/16/2019 52
• 120,000 square feet of 2019 office absorption
Market Updates
New and Upcoming
12/16/2019 53
Retail Sales Gap Recommendations
12/16/2019 54
Bremner & Local Employment Area
• On Sept 10, council passed 2nd and
3rd reading and voted to adopt the
Bremner & LEA Area Concept Plan
(ACP)
• 20km2 area, 80,000 resident
capacity, 40 year projected build-
out
• Developers can now approach
Strathcona County to develop Area
Structure Plans (ASPs)
12/16/2019 55
https://www.strathcona.ca/files/files/pds-bylaw3-2019.pdf
Bremner What Next
• The first Sub-Area Structure Plan is
anticipated to be in the northwest
near Township Road 534 and
Highway 21.
• Infrastructure (roads and utilities)
development costs and timing are yet
to be determined
• ~15% of total infrastructure will be
built in first 10 years
12/16/2019 56
12/16/2019 57
Development Concept Bremner
Development Concept LEA
12/16/2019 58
12/16/2019 59
INDUSTRIAL
Oil Pricing is complicated
12/16/2019 60
Exchange value
$US 55.67 = $Cdn 73.92
Average YTD
$US 56.69 = $Cdn 75.27
Refinery Western Canada
12/16/2019 61
With delay in production for NWR until 2020, 69% of
total refinery capacity is in Strathcona County
Alberta's Industrial Heartland:
Economic Impact
12/16/2019 62
12/16/2019 63
Trans Mountain Update
12/16/2019 64
Major Projects in the AIH
• Heartland Petrochemical Project $4.1
billion
• CKPC and Pembina PDH and PP
$4.5 billion
• Shell Scotford two turn arounds 2019
• NW Refinery turn around and final
work $250 million
• Alberta Carbon Capture Line $500
million
• Enbridge Line 3 operating and
affecting volumes from SIA and AIH
• Three projects in SC portion of the
AIH going through study
• Total value of the projects over $12.0
billion
• Project in other parts of the AIH in
the range of $3.0 billion - $5.0 billion
• Suncor investing $1.4 billion to low
carbon power cogeneration in Ft.
McMurray
• Imperial Oil (Exxon Mobil) Aspen
project in Wood Buffalo 75,000 bpd
in-Situ
12/16/2019 65
Heartland Petrochemical Interpipeline
12/16/2019 66
As of the end of September, Inter Pipeline Ltd. says it has invested approximately $1.9
billion of the estimated $3.5-billion capital cost of the Heartland Petrochemical Complex, a
propane dehydrogenation (PDH) and polypropylene (PP) facility under construction near
Fort Saskatchewan.
The company reported $337.6 million in capital spending on the project for the third quarter,
for the procurement of materials and construction services.
“Milestones for the third quarter include completing piling activities with approximately 6,500
pilings installed, commencing structural steel erection for the polypropylene plant, and
installing the first major components of the central utility block,” Inter Pipeline said earlier
this month.
“The last major equipment lifts for the complex were also completed in the quarter with the
installation of the propane dehydrogenation flare stack and the 300-tonne polypropylene
purge bin.”
Heartland Petrochemical Complex
• https://www.youtube.com/watch?v=2phsi56cSG4
12/16/2019 67
https://www.youtube.com/watch?v=2phsi56cSG4
NW Refinery
12/16/2019 68
CKCP and Pembina $4.5 billion
12/16/2019 69
Alberta Carbon Trunk Line
- $500 million
12/16/2019 70
Vision for AIHA
12/16/2019 71
For further information, contact Strathcona County Economic Development & Tourism:
Gerry Gabinet, Director
780-464-8257
Shane Olson, Commercial Development Manager
780-464-8259
Sean McRitchie, Industrial Development Manager
780-410-8511
Stephen Rausch, Senior Business Development
Specialist
780-464-8241
Richard MacDonald, Small Business & Tourism
Specialist
780-416-6757
Contact
mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]