June 2011

Found 6 blog entries for June 2011.

Capital Power Corporation, an Edmonton firm, has managed to work out a couple of multimillion dollar deals recently. The first is that Atlantic Power, based in Boston, will take over all of Capital Power Income LP, an affiliate company, for $320.3 million. Under that same agreement, Capital Power Income LP will take over two North Carolina power plants, one in Roxbury and the other in Southport. That firm already has 18 power plants in locales outside of the North Carolina region.

All of this has caused movement on the Toronto Stock Exchange. The shares for Capital Power were seeing a four cent decrease, coming in at $26.75 per share on a volume of roughly 33,000 shares. Atlantic Power saw an increase of five cents per share for a price of $15.01, based

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This past May the average price of a home in Calgary decreased just a bit, but at the same time sales were picking up. The Canadian Real Estate Board released a report this past Wednesday that revealed a 0.5 percent drop in the city’s average house price, coming in at $416,055 per home. There were 2,219 sales, which is a four percent increase.

In the province as a whole, Alberta saw a two percent drop in price to $357,086 per unit when comparing this May to the same month in 2010. But provincial sales increased by 8.7 percent, with 5,659 units changing hands. Broadening this to the entire nation, across Canada sales increased by 2.7 percent when comparing this May to the same month last year, with 46,616 sales. Nationally, average prices showed an increase…
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Calgary’s city council is working on making the city more bicycle friendly. At present they are looking at a plan with a price tag of $28 million. It includes a network of cycling paths in the Beltline and in the downtown core. This network will cover almost every street and nearly half the city’s avenues. To some it seems a bit like overkill considering that the number of people that commute into the downtown core averages about 9,000 per day.

Also at issue is the fact that those downtown bike lanes are destined for low-traffic streets. Which asks the question, if there is little traffic, why have bike lanes? Doesn’t the law already require cars and cyclists to share the road equally? The streets in question already have extra signs and road markings

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Perhaps it is the high cost of gas, or the lack of interest in spending so many hours behind the wheel just trying to get to work. It could also be the attraction of living in a neighborhood with mature trees that is close to shops, services and entertainment venues. More and more home buyers are deciding to move to the inner city, rather than choosing an address in the suburbs.

The Calgary Real Estate Board has seen this trend in their fair city as well, particularly with singles or young couples that are just starting out. Developers are noticing the trend and building and/or renovating properties in areas on the shoulders of the downtown core. These could be brand new condos or single-family homes that come up for sale and need a bit of TLC.

Resale homes…
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TransCanada Corporation is trying to cut a deal with the United States involving exporting additional oil into that country as far south as Texas. Currently its Keystone pipeline, which carries oil to refineries in North Dakota and Kansas, is shut down. The pipeline developed two leaks in the space of a month, one May 9th at a North Dakota pumping station, the second this past week at a pumping station in Kansas. All shipments have been suspended until TransCanada gets the latter spill cleaned up. Both spills appear to be the result of failed fittings.

All this comes at a time when the oil industry is under the proverbial microscope. Though compared to some recent oil disasters the two spills, the North Dakota one at 500 barrels and the Kansas one that

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The fact that there are buyers out looking for homes is one sign that Calgary is emerging from the recent recession. But the needs, and wants, of those buyers appears to be changing somewhat. The opinion that smaller may be better is catching on because more and more people are being drawn to the condo and multi-unit housing markets.

Tim Logel, a longtime player in the home building industry, is just one to notice that trend. He is president and part owner of Cardel Lifestyles, a firm that has five multi-family projects underway in the Calgary area, all in varying stages of development. One, Panorama West, located in Gentar’s Panorama Hills, just held their grand opening. Rather than the usual 100 interested parties looking at the four model condos in the…
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