Airdrie: Deal or No Deal?

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This presentation was originally delivered to the Real Estate Investment Network during sessions in Calgary and Edmonton, Alberta in July 2010. For updated information please contact our office at economic.development@airdrie.ca

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  • Airdrie Compared to National. Provincial averages As well to some other Cities in AlbertaAlmost 20% ahead of the provincial Average and 25 ahead of national average Always trying to balance growth and infrastructure – keeping up so far.
  • Less than half way through 2010, the City of Airdrie is experiencing record-breaking residential and commercial/industrial growth.end of May, the City’s building permit revenue reached $1.1 M surpassing May 2007—also a record-breaking year—by more than $82,500.“We were expecting a strong year, but these numbers exceed our expectations. It shows Airdrie continues to be a leader in Alberta in residential and commercial and industrial growth.”Residential construction accounts for much of the growth. First five months of 2010 recorded 365 permits for new home construction, 112 more than the same time last year, and 12 more than 2007. Attributing to this growth is single and multi-family  construction in two new communities, Williamstown and Windsong, as well as continued development in other residential areas.The commercial and industrial sectors are also seeing record highs. The City has processed 1,663 building permits already this year, surpassing the all-time high of 1,660 permits in May 2007. EG:New fire hall in Kings Heights, a 220,000 sq ft. manufacturing facilityMany commercial projects throughout the City in Sierra Springs, Creekside and Kingsview Market“2007 was great year for the City but as the global downturn hit in 2008, we knew Airdrie would see some effects and the pace of construction around the city would slowdown. Seeing these record-breaking numbers so early in 2010 proves there is confidence in our City’s economy. Clearly, businesses and residents know now is the time to be in Airdrie.”
  • 2010 Building Permits coming in strong for first ½ of year. We are seeing numbers comparable to 2007 Construction values down a bit but from 2007 three major projects accounted for $82 million alone Coscto, Genesis Place Recreation Centre New Creekside Elementary Schools
  • A detailed monthly listing of Building and construction values are posted monthly on airdrie website under Building Inspections
  • Run through major project airdrie has seenRestaurantsSwiss ChaletMr. Mikes Wine and Tapa’s Bar in the VillageBrewestersOriginal JoesNumber of fast food and take outsRedevelopment – DowntownShoppers -3 now in City Industrial: Costco DC (2007)Belron DCTransCanada Turbine Number of smaller manufacturers OfficeFortis Operations Centre (2008)ATCO Geothermal Operations Centre New RCMP Building and Fire hall – one of 3 new fire halls (under Construction)
  • Housing in Airdrie For Sale – Go through #Rental – Go through #Airdrie Single Family Average – $354,000Calgary Single Family Average - $433,000Still a competitive Advantage to live in Airdrie Airdrie Affordable Housing purchased a apartment complexHabitat for Humanity looking at building 31 townhouse unitsCurrently have 3 Sr. Complexes and interest from others
  • Green - Residential development Red – Commercial/ Industrial DevelopmentSeeing Development in all corners of the City Encouraged that Commercial and Industrial is keeping up with the explosive Residential development 17% / 83% tax split. – increase 1% last year with a 11% residential growth
  • Last annexation in 2004 – 3,000 acres (30 year plan) All that land now planned out and currently being developedNew Proposed Annexation - 11,000 acresGoing West, North and East. Potentially incorporate Airdrie Airpark 2004 – 7 year process2010 – hopefully shorter as we are not going south and have better working relations with MD
  • Very Young Community 70% Under 45 Years31.5% Under 25 yearsPlenty of recreation Amenities2 Indoor Rinks (3 Ice surfaces)82 Km of Paved pathways 68 Sport Fields 23 Ball Diamonds 46 Soccer Pitches 700 Acres of parkland – 2 major parks at East Lake and Nose CreekNEW Regional park (Splash park and Skate park) – in addition to our downtown slash parkReceive water from Calgary (Good to 120,000 Residents)
  • Mayor Bruce – no one has announced challenge to date2-3 Aldermen stepping off council Airdrie has been fairly steady throughout the years with Mayors and Council - Allows for long range planning to happen easier from a staff perspective. Paul Shultz New City Manager but has worked for City for 20 years Strong economic and community life vision Do not anticipate a lot of change as most departments have long range or multiyear strategies…
  • When doing research on Airdrie Airdrie LIFE magazine – Lifestyle magazine we started partnership 6 years ago Airdrie@ Work bi-monthly e-newsletter for business and development industries Annual Community Profile - overview of City plans, events, council strategic priorities, etc. All available on our AirdireNOW Website…
  • Airdrie: Deal or No Deal?

    1. 1. Airdrie Update 2010<br />Real Estate Investment Network<br />July 2010<br />
    2. 2. Airdrie at a Glance<br />Population = 39,822<br />4.54% in 2010<br />8.3% avg. annual growth over 5 years<br />15,243 Dwellings <br />2.6 person per dwelling <br />Median Family Income is $83,271 (2006)<br />Calgary=$77,658<br />Fastest Growing “City” In Canada <br />Airdrie 30-Year Growth Projections<br />
    3. 3. Growth Comparison 2006-2009<br />
    4. 4. The Local Business Snapshot<br />47% Total Business license growth since 2005<br />Total 2383 Business <br />Avg. 46 Bus. Lic. /Month<br />60% Businesses (HBE)<br />4 Major Commercial Areas being developed<br />More Regional Opportunities<br />Total Business License Growth<br />
    5. 5. Construction Continues <br />
    6. 6. 2010 and Growing <br />Record-Breaking Residential, Commercial and Industrial growth<br />Revenues reached $1,099,828<br />Surpassing Commercial and Industrial 2007 Numbers<br />14,487 Total Homes<br />
    7. 7. Another Great Year (2010)<br />
    8. 8. Building Stats 2010 (End of May) <br />
    9. 9. New or Developing Projects <br />2008-2009 Major Projects<br />Belron <br /> (120,000 sq. ft. D.C.)<br />ATCO Geothermal Operations Centre <br />Redevelopment of Towerlane Centre <br />Sobeys Grocery Store<br />2 New Shoppers Drug Mart<br />McArthur Fine Furniture <br />Honda Dealership <br />Dickson Trail Strip Mall Rexall and Brewsters) <br />2010 Major Projects<br />TransCanada Turbine <br /> (220,000 sq. ft. Manufacturing Facility)<br />New Fire Hall (One of three) <br />CIBC Branch <br />Swiss Chalet <br />Original Joes Restaurant<br />New RCMP Station (RCMP, Municipal Enforcement, Highway Patrol)<br />
    10. 10. By the Numbers <br />Average Single Family Home $354,000<br />Average Condominium $227,000<br />Rental - Single Family $1,700<br />Rental - Condo $1,100<br />Rental - Townhouse $1,300<br />Rental Vacancy Rate – Approx. 1-2%<br />Currently 371 Residents on Airdrie MLS <br />(Based on Averages)<br />
    11. 11. Developing Residential<br /><ul><li> Reunion
    12. 12. Williamstown
    13. 13. Canals
    14. 14. Bayside
    15. 15. Prairie Springs
    16. 16. Windsong
    17. 17. Copper’s Crossing
    18. 18. Morningside
    19. 19. King’s Heights
    20. 20. Ravenswood</li></ul>Developing Comm/Industrial<br /><ul><li>Gateway
    21. 21. Highland Park
    22. 22. Willowbrook
    23. 23. Creekside / Downtown
    24. 24. Sierra Springs
    25. 25. Kingsview Market
    26. 26. King’s Heights</li></ul>Current Development<br />
    27. 27. Proposed Growth Map<br />Approved by Intermunicipal (City of Airdrie, Rockyview County) Committee March 2010<br />
    28. 28. Quality of Life <br />Youthful Population <br />70% Under 45 Years<br />Recreational opportunities <br />Genesis Place Facility <br />2 Indoor Rinks (3 Ice surfaces)<br />Curling Surfaces <br />82 Km of Paved pathways <br />68 Sport Fields <br />700 Acres of parkland <br />NEW Regional park (Splash Park and Skate Park) <br />15 schools (Public and Private)<br />Water capacity from Calgary up to 150,000 residents<br /><ul><li> Citizen Satisfaction Survey (2010) </li></ul> Quality of Life 98%<br /> Safety 93%<br />
    29. 29. Infrastructure Investment<br />Completion of Yankee Valley Interchange<br />ICE Transportation Service (Sept. 2010)<br />Genesis Place Recreation Centre <br /> - Completion of Phase 2<br />- Phase 3 approved (open 2013)<br />Upgrading Plainsman Arena (2010)<br />New Regional park skate and splash park <br />
    30. 30. New Developments (Interactive) <br />
    31. 31. Political Atmosphere (Silly Season) <br />Mayor Bruce seeking 3rd term <br />Council may see some Change<br />Mayor Bruce working very closely with Province and Regional Partnership<br />Paul Schulz - New City Manager <br />
    32. 32. Economic Development Core Services<br />Marketing<br />Business Development<br />Investment Attraction <br />Research & Information Services<br />
    33. 33. Airdrie Now! Campaign<br />Three-year Marketing Campaign <br />Focus on Target Sectors:<br />Advanced Manufacturing<br />Transportation & Logistics<br />Professional Services<br />Environmental Industries<br />New Marketing Materials & Website<br />
    34. 34. Publications <br />
    35. 35. www.airdrienow.ca<br />
    36. 36. Thank You… <br />Airdrie Economic Development<br />Kent Rupert<br />economic.development@airdrie.ca<br />403-948-8844<br />

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