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MARCH 2017 | $3.50 BUSINESSINCALGARY.COM

A Resounding

SUCCESS

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ENERPLUS’ IAN DUNDAS LEADS YMCA’S POWER OF POTENTIAL



B OMA CALGARY NEWS - SPRING 2017

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CALGARY CHAMBER SECTION

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Grow your Business with our Experience Cadillac Fairview offers a diverse real estate portfolio complemented with comprehensive property management services. Through the strength of ownership, strategic acquisitions, and development, Cadillac Fairview provides innovative, sustainable and functional facilities that are able to deliver exceptional solutions to tenants.

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ENCOR PLACE 635 8TH AVE CALGARY CITY CENTRE 215 2 Street SW

SHELL CENTRE 400 4th Avenue SW A LEED Gold building serving a global tenant. Shell Centre is connected to the core via +15 walkways and blocks from Eau Claire and Calgary's extended bike lanes. • LEED Gold Certified • Class A Office • 31 Floors • Retail Space Available • Close to Eau Claire • Global Tenant

This LEED Platinum building opened the doors in 2016. Calgary City Centre is anchored in Calgary's remarkable Eau Claire area. The building has a first-class fitness facility, professional conference centre and more. • LEED Platinum Certified • Class AAA Office • 36 Floors • 26,695 sf Floorplate • Fully Connected to the Core via +15 Walkways • Breathtaking Finishes

645 7th Avenue SW 635 8th Avenue SW This vibrant building has a premier location offering effortless access, in and out of Calgary’s core. 635 8th Avenue is situated on Calgary's intricate bike lanes. The building offers efficient floorplates and an energetic atmosphere. • Class B Office • 25 Floors • BOMA BESt Certified • Cogeneration System • Located on Calgary's bike lanes • One block from the LRT Line

Unbeatable location with easy access, in and out of Calgary’s core. Encor Place offers an efficient floorplate providing prominent layouts for all sized tenants. The building's lobby is finished with stunning marble and granite making it bright and welcoming. • Class A Office • 29 Floors • BOMA BESt Certified • Located on Calgary's LRT Line • Connected to the Core via +15 Walkways (April 2017)


THE RIGHT TIME IS NOW! WITH OVER 3000 HOMES SOLD IN 20 YEARS, MY EXPERIENCE IS YOUR ADVANTAGE!

JUST ASK ME c

403 870 8811 |

t

403 686 7800 |

www.SAMCOREA.COM

|

SAM@SAMCOREA.COM


MY EXPERIENCE SPRINGBANK | $8,500,000

209

SAM

PI N N AC LE R I DG E PL AC E , S W

Crafted by exceptional artisans and boasting only the finest of imported & local materials this 14,000 SF Tuscan villa inspired home is less than 10 years old yet it almost instantly transports you to Europe with an incredible sense of old world tradition and authenticity. With a 1,000 SF gym, 1500 SF professional style theatre, gourmet kitchen, elevator, 7 bedrooms, pool house, sport court, 5 car garage, opulent master wing & south facing courtyard this home is ideal for a large family or as an executive retreat. It was used as a set in the Fargo mini-series, has been featured in the National Post & most recently leased to Leonardo DiCaprio for 6 months during the filming of The Revenant. Ideal location set on 2 acres overlooking the beautiful Rocky Mountains yet just a few minutes away from shopping & services, 10 minutes to the Springbank airport & some of Calgary’s very best private schools.

BRITANNIA | $3,200,000

711

C R E S C E N T B O U L E VA R D , S W

Contemporary new home with an oversized 4 car garage and 6169 SF of luxurious living space, set on a fabulous 75-foot wide lot. Walking distance to the shops of Britannia Plaza, temple B’Nai Tikvah & to the river pathways. Beautifully appointed with huge rooms, expansive window walls, designer lighting, stone countertops, glass railings & wide-plank hardwood floors it boasts: A total of 5 ensuite bedrooms, kitchen with quartz counters and Wolf & Subzero appliances, living room with fireplace feature wall, wet bar, home office and a generously scaled master suite retreat w/ walk-in closet & steam shower ensuite. Lower level w/ 5th bedroom (with full ensuite), family room, wet bar, media room & gym. Car lovers will appreciate the 4 car heated garage with space to add lifts for more cars.

MY EXPERIENcE IS YOUR ADVANtAGE

JUST ASK ME!


IS YOUR ADVANTAGE BRITANNIA | $1,850,000

SPRINGBANK HILL | $1,795,000

903

115

E D I N B U R G H R OA D, S W

M Y S T I C R I D G E PA R K , S W

Huge (almost 1/4 acre) pie lot, backing onto a natural ravine! 3487 SF with 3 ensuite bedrooms + developed walkout (4th bedroom, bath & media room) for total of 4635 SF of living space. Offering tranquil ravine views from most rooms it is appointed with high ceilings, big windows (custom blinds), hardwood, quartz counters, white cabinetry, stainless steel appliances (6-burner gas cook-top), chic lighting & built-in sound. Open-planning living room (fireplace), island kitchen, casually elegant dining room, expanded mudroom, big laundry and vaulted master with dressing room & ensuite(free-standing tub).

This renovated home is walking distance to local shops, river pathways, Sandy Beach & close to downtown. Spoil yourself with Wolf & Sub-Zero appliances, 2 fireplaces, hardwood & heated tile flooring, Nuvo audio system, built-ins, A/C & boasting a gorgeous kitchen with huge island,, custom cabinets, expansive dining room & intimate sitting area with fireplace. There are 3 bedrooms & 2 baths upstairs. Lower developed with mudroom (heated tile), family/games room, gym (rubber floor/mirrored walls), laundry, 4th bedroom, 4pc bath & huge flex space. Extensive updating incl. windows, roofing, electrical/mechanical & more. Sunny SW backyard w/ deck & stone patio.

SPRINGBANK HILL | $1,400,000

ASPEN WOODS | $1,098,000

3235

87

7 7 T H S T R E E T, S W

A S P E N DA L E WAY, S W

Panoramic mountain views on all 3 levels. Large 75’x147’ lot with triple garage. with 5 bedrms (including main floor master) & 5 baths. Dramatic 2 storey high ceiling in the huge living Rm with F/P, open to the gourmet kitchen with dark maple cabinets, big island w/granite counters, pantry & top of the line S/S appliances. Dining area has french door opening to a large deck w/ aluminium railings & glass panels overlooking a stunning view. Upper level overlooks the living rm, 3 good size bedrms (one w/ ensuite), & a 5-pc main bath. Walkout level includes with a large family rm, rec rm, bedrm, 3-pc bath, wet bar & a 3 sided f/p. Low maintenance exterior & landscaping.

Backing greenbelt, near Aspen Landing & West 85th shopping, several schools & C-train! 3547 SF with 4 bedrooms (flex room could be 5th bdrm) & den. Contemporary touches, soaring ceilings, tiled fireplace feature wall, speakers, A/C, granite/quartz counters, stone accents & wide-plank hardwood. Mudroom with lockers, den with built-ins, island kitchen with walk-thru pantry, bar (wine fridge), nook & stainless steel appliances (gas stove & wine fridge), master suite with gas fireplace, ensuite (jet tub, oversized rain-head shower, his/her sink, big walk-in closet), bonus room with hardwood, Basement with media/games room, huge 4th bedroom, full bathroom & flex room.

SPRINGBANK HILL | $995,000

RICHMOND | $985,000

99

2132

ELMONT RISE, SW

2 7 T H S T R E E T, S W

Mountain & city views, 3 bedrooms & 3 ensuite bathrooms (+ 4th bedroom down), concrete party wall, heated floors (bathrooms & basement), central A/C, granite counters thru-out (even laundry rm), media rm, floating stairway (w/ glass wall) & kitchen perfect for entertaining w/ 10’ island, walk-in pantry & high-end appl package (incl. gas cooktop, pop-up fan & glass-front wine fridge)! Open plan main w/ access to fenced yard w/ hot tub & garage, 2nd level has den + 2 ensuite bedrooms, incl master w/ 15’ walk-in (w/organizers) & ensuite w/ air-jet tub, 2 sinks & o/s shower. Top floor finished w/ 3rd ensuite bedroom w/ access to 2 rooftop decks. Basement w/ heated floor offers Media Rm, extensive storage, full bath & 4th bedroom (walk-in closet).

Backing onto a large green space this bungalow offers a total of over 2500 SF of beautifully appointed living space w/ 3 bedrooms & den. Featuring 2 stone-faced fireplaces, custom built-ins, wall panelling & millwork, built-in speakers, in-floor heating, central AC, & maintenance-free deck w/ a retractable awning. The kitchen is appointed with 2 sinks & Viking appliances. The walk-thru pantry leads to a mudroom w/ built-ins. Den w/ tray ceiling, wainscotting & french doors. The master suite boasts lovely views, a walk-in closet & ensuite. The walkout basement is finished with 2 more bedrooms] a full bathroom, family/media room with gas fireplace & built-ins & games room w/ wet bar.

c

403 870 8811 |

t

403 686 7800 |

RICHMOND | $1,400,000

2132

3 2 N D AV E N U E , S W

Offering 3600 SF of living space, this home sits on a 33’-lot &. Open plan is anchored by an island kitchen with book-matched walnut cabinetry & Miele/Viking appliances. It opens to an inviting family Rm, dining Rm & living Rm. The big mudroom (w/ built-ins) leads to heated garage. There are 3 ensuite bedrooms & laundry Rm up. The master boasts steam shower ensuite w/ heated floor while 2 other bdrms, share an ensuite. Basement developed w/ media room, wet bar, glass-front wine Rm, 4th bdrm & 3-pc bath. This home has it all: A/C, in-flr heat, video security, multi-media system (control lights, alarm & sound from your I-pad or phone), 100” screen & projector plus built-ins speakers.

STRATHCONA PARK | $995,000

92

S T R AT H L E A P L AC E , S W

Backing onto a ravine with spectacular views. Outstanding quality and the finest of finishings including slate tile floors, hardwood floors, built-in speakers & developed walkout basement. Main floor offers a formal dining room w/ domed ceiling, a dramatic den, and a chef’s dream kitchen with granite counters and stainless steel appliances. A centre-vaulted ceiling creates an open floor plan in the main floor living area overlooking the deck with fireplace (another f/p on patio). Upper floor hosts a grand master suite with great views also be enjoyed in the luxurious ensuite. Walkout level has been superbly finished with large family room, adjoining rec room, 4th bedroom & full bath.

SIGNAL HILL | $925,000

114

S I E R R A V I S TA C LO S E , S W

A must-see kitchen! Superb location backing park, this 4 bedroom home with 2 ensuites & developed walkout, sits on quiet crescent, in an elevated location & features extensive renovations centred around a custom kitchen (by Empire) with high-end Wolf & SubZero appliances, walnut cabinetry, pull-outs/built-ins. New Pella windows, updated light fixtures, speakers, upgraded mechanical & electrical, big deck (glass surround), 4 upper bedrooms (3 w/ mtn views), master suite w/ walk-in & ensuite & 2nd bdrm w/ cheater access to 4-pc bathroom. Walkout dev’d w/ new remote controlled fireplace, cork flooring, full bathroom, family/games room (built-in entertainment centre), den/flex room & door (with Phantom screen) to backyard.

www.SAMCOREA.COM

|

SAM@SAMCOREA.COM


JUST ASK WOODLANDS | $795,000

47

W O O D C R E S C E N T, S W

Expanded plan with lots of updating & huge, chef’s kitchen with heated flr, updated, granite counter/backsplash & stainless steel appl. This 3011 SF home (+ basement) sits on a quiet crescent near golf course & has been tastefully renovated with vaulted, oversized dining room (w/stone f/p & modern glass doors), living room w/ entertainment centre & architecturally designed family/games room with granite topped bar, 2-sided f/p, heated flooring & access to the west backyard. There are 3 bedrooms & 2 renovated bathrooms up. The master suite has an updated 5-pc ensuite (air-jet tub, oversized shower, 2 sinks & heated tile floor) & large walk-in closet. The 2nd bedroom opens to a den/playroom w/ built-ins & the 3rd bedroom has a Juliette balcony. Basement dev’d with 2 bedrooms, TV room, cold room & 3-pc bath.

DOWNTOWN WEST END | $425,000

1407

11 0 8 - 6 T H A V E N U E , S W

14th floor, 2 bedrooms, 2 baths (heated floors) & south exposure. Located in the desirable West End, steps from the river pathways & walking distance to bus, LRT, trendy Kensington shops & restaurants, Princes Island Park & DT business area! Kitchen boasts stainless steel appliances (incl. 5 burner stove w/ oven + warming drawer) & granite counters. High-end carpeting is soft underfoot & flows thru the spacious living & dining rooms & both bedrooms. Living room has a gas fireplace & an alcove perfect for den area. The master suite is big & bright w/ tons of closet space (walk-in + double closet) & ensuite. Step out to the balcony (with gas line) from living room or 2nd Bdrm. There’s a 2nd full bath as well as in suite Laundry/storage room. Titled parking. Building has concrete floors/walls, gym, hot tub, visitor parking, bike room & party room.

WEST SPRINGS | $650,000

149

W E N T W O R T H W AY, S W

Chic & modern, upgraded family home in prime location - walking distance to St. Joan of Arc Elem. Features a fabulous kitchen with timeless white cabinets, upgraded hardware, Caesarstone counters, marble backsplash, extra deep sink & high-end stainless steel appliances including gas range. Main level includes: Large & private foyer, great room with dry-pack rock fireplace, dining area, 2-pc bathroom & mud/laundry room with built-in organizers. Upstairs are 3 bedrooms & bonus room with vaulted ceiling & wall of windows, master has walk-in, ensuite with soaker tub, rainhead shower & vanity w/ make-up table. 2 more bedrooms share a 4pc bath. Fully developed basement with 3pc bath (heated tile floors), family room with built-in speakers, 4th bedroom. Central air. Great yard with no maintenance deck & stamped concrete patio.

VARSITY | $250,000

801

4 5 5 4 VA L I A N T D R I V E, N W

Penthouse level suite priced to go & featuring big atrium style windows, mtn views, air conditioning, 1300+ SF of well planned living space with updated hardwood flooring, an open-planned kitchen (with granite countertops, lots of storage space including a pantry), roomy dining space, den area with built-ins, 2 separate living areas and 2 separate bedrooms, each with their own bathroom. The master suite features a walk-in closet & 5-pc jetted tub ensuite. Condo fee includes electricity & tons of amenities including spectacular indoor pool & hot tub, library, carwash, meeting room, superb party room (perfect for baby shower, family reunion etc), gym, green house, putting green, rooftop BBQ & lounging areas, water features, security cameras etc. Walking distance to U of C, Foothills Hospital, Market Mall, transit.

MY EXPERIENcE IS YOUR ADVANtAGE JUST ASK ME!

C


Supporting the visions of entrepreneurs one story at a time. Volume 26 | Number 3

REGULAR COLUMNS

14

Here is How Our Tax Dollars are Spent By Frank Atkins

16

New City Taxes Don’t Scream “Open for Business” By Paige MacPherson

CONTENTS COVER FEATURE

34

A Resounding Success Enerplus’ Ian Dundas leads YMCA’s Power of Potential Campaign to victory By Melanie Darbyshire

59 67 97

BOMA Calgary News Spring 2017 Leading Business The Calgary Report Current developments for Calgary Telus Convention Centre, Tourism Calgary, Calgary Economic Development, and Innovate Calgary

102

Marketing Matters By David Parker

ON OUR COVER: ABOVE: IAN DUNDAS, CAMPAIGN CO-CHAIR AND PRESIDENT AND CEO AT ENERPLUS CORPORATION. PHOTO SOURCE: EWAN PHOTO VIDEO

FIND US ONLINE! B US I N E SS I NCALGARY.COM BUSINESS IN CALGARY

@BUSINCALGARY

64 BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // MARCH 2017

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STORY TITLE // SECTION

Supporting the visions of entrepreneurs one story at a time. Volume 26 | Number 3

77

THIS MONTH’S FEATURES

18

CONTENTS COMPANY PROFILES

77 85

89 93

Spalding Hardware

42

Stonewater Developments

Stonewater Developments Making its Mark in Commercial Developments

Decentralised Energy Canada

The Little Association that Could

Tetra Tech Evolves

Celebrates 50 Years

MARCH 2017 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

W  hat’s Coming Down the Pipe Turbulent times for Canada’s pipeline industry By Melanie Darbyshire

T  o Build or Not to Build? That is the Question The health of Alberta’s construction and renovation industry By Erlynn Gococo

Celebrates 65 Years

89 10

28

H  ousing Starts 2017 The recovery won’t be instant By John Hardy

48

M  odest Stabilization for Calgary’s Real Estate Market A move towards rebalanced conditions By Lorena McDonald

54

D  riving into the Future The 37th Annual Calgary International Auto and Truck Show comes to the BMO Centre By Kim Locke

54


PUBLISHERS

Pat Ottmann & Tim Ottmann

ASSOCIATE PUBLISHER

Evelyn Dehner evelyn@businessincalgary.com

EDITOR

John Hardy

COPY EDITORS

Lisa Johnston, Nikki Gouthro

ART DIRECTOR

Jessi Evetts jessi@businessincalgary.com

CONTRIBUTING DESIGNER Andrea Espinoza

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EVENTS

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our Team EPIC is Michael and Jolene Cudjoe, a visual arts dynamic duo. Michael and Jolene are acclaimed artists in their own right but it is together that they hit their stride as “Your” Team EPIC! Jolene’s eye for detail coupled with Michaels adventurism make for a formidable pairing that helps them create unique and memorable images. Whether it be a family shoot, a wedding at home or abroad, or one of their EPIC photoshoots locally or internationally, you’re sure to get the best with “Your” Team EPIC! Team EPIC productions works in photography and videography, focusing on a few areas, but with the expertise and experience to work in almost any genre. Team EPIC Productions focuses on local & destination weddings, local & international EPIC photoshoots, and corporate work including aerial photography & videography, photobooths, and events. We’re a trusted name in photography, having worked with companies such as: ATB Calgary Stampede’s Aggie Days Saipem Calgary Zoo GlobalFest Business in Calgary Magazine KCCFA Weddings by Evanescents and Roof Hospital.

Connect with us online at www.teamEPIC.rocks, or on FaceBook, Twitter and Instagram @yourteamEPIC


HERE IS HOW OUR TAX DOLLARS ARE SPENT // FRANK ATKINS

Here is How Our Tax Dollars are Spent BY FRANK ATKINS

W

hile having coffee with a friend recently, I quoted Stephen Lewis’ view that it is difficult to understand just what it is that Liberals actually believe in. (The full quote is in my September 2016 article.) My friend stated he was sort of in agreement with this, except for the fact that Liberals seem to have some kind of affection for communist countries. As an example, he pointed out how Trudeau Sr. seemed to like both China and Cuba, and this affection has been carried on by Trudeau Jr. For instance, in what can only be called a stunningly naive comment, Justin Trudeau once said, “There’s a level of admiration I actually have for China. Their basic dictatorship is actually allowing them to turn their economy around on a dime.” Similarly, Trudeau Jr. gushed after the death of Fidel Castro that Castro had a “tremendous dedication and love for the Cuban people.” I have always believed that the Liberals in general, and the Trudeaus in particular, have a world view that is consistent with the need for a centrally-planned economy, and this would explain their affection for China and Cuba. Most of us remember how Trudeau Sr. turned Canada into a nanny state. In this view, you and I cannot be trusted to make proper decisions, and it is the role of the government to make decisions on our behalf. Presumably, the government knows more about what is right for Canadians than the Canadians themselves. At the risk of oversimplification, a well-functioning economy works in the following manner: individuals earn an income and decide to make various purchases. If consumers choose not to buy certain products, the companies making these products will start losing money and will eventually go out of

IN THIS VIEW, YOU AND I CANNOT BE TRUSTED TO MAKE PROPER DECISIONS, AND IT IS THE ROLE OF THE GOVERNMENT TO MAKE DECISIONS ON OUR BEHALF. business. The problem here is the Liberal’s view of the world: going out of business (for some firms) is a bad thing so taxpayer money must be used to rescue them. This is in spite of the fact these businesses cannot make a profit without government intervention. Essentially, the government is saying consumers are making bad choices and they will step in and correct these bad choices. In this scenario, the government is picking winners as opposed to consumers picking the winners through their purchases. The typically Canadian example of this intervention is Bombardier. For as long as I can remember, Bombardier has been asking for taxpayer money to prevent some sort of a catastrophe. The latest plea came in 2016 when Bombardier announced it needed at least $1.1 billion in taxpayer money. This somehow got trimmed down to $372.5 million in interest-free loans. So, nearly $400 million in taxpayer money is going to a company that cannot seem to survive without continual government support. This is not much different from the communist central planning that goes on in Cuba. Perhaps Trudeau Jr. is, in his own words, “trying to turn the economy around on a dime.” Only it is the taxpayer’s dime. Frank Atkins is a senior fellow at the Frontier Centre for Public Policy.

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MARCH 2017 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM


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NEW CITY TAXES DON’T SCREAM “OPEN FOR BUSINESS” // PAIGE MACPHERSON

New City Taxes Don’t Scream “Open for Business” BY PAIGE MACPHERSON

I

t’s no secret businesses in Calgary are struggling. Both employers and employees have been dealt a series of tough hands.

businesses this year only – and it still amounts to a five per cent increase at a time when many businesses are struggling just to stay afloat.

A full 7,214 businesses closed their doors in Calgary in 2016. The good news is Calgary’s entrepreneurial spirit lives on as 7,376 new business licences were issued in the city, showing Calgarians might be taking advantage of recession-spurred available labour and reduced costs to attempt to make a go at something new.

The irony of it all is that while Mayor Nenshi declares Calgary “open for business” with this one-time rebate, he is at the same time continuing to ask the provincial government for increased tax powers that could make Calgary a more expensive place to do business.

Still, the unemployment rate in Calgary hovers above 10 per cent, and 9.8 million square feet of office space sits empty in downtown Calgary, according to Western Investor.

As finance minister, Joe Ceci has overseen the imposition of the province’s multibillion-dollar carbon tax, a 20 per cent business tax hike, an income tax hike, a train fuel tax hike and beer tax hikes. Now he has taken over the city charters file for the provincial government. It would be unsurprising to find business owners shaking in their boots.

The decline of downtown businesses meant a significant shifted burden onto suburban businesses, which the mayor indicated will see “kind of shocking tax increases.” Though the city’s residential property tax freeze was welcomed by residents – many of whom saw property tax increases anyway – businesses were still left struggling. Luckily for residential and business property taxpayers alike, it’s an election year! In late January, the City of Calgary approved a tax rebate plan to cap non-residential property tax rate increases (for businesses) at five per cent. When the city approved the program, Calgary Mayor Naheed Nenshi declared Calgary is “open for business!” The one-time-only program cost $45 million which was taken from the city’s fiscal reserves. At this point, those reserves are being drawn down quite a bit, but arguably, the city was stashing away too much in savings, thanks to overly high property taxes over the course of several years. The tax rebate is unquestionably a welcome measure. But the rebate is temporary – a one-time solution that will aid

Nothing screams “open for business” like new taxes, right? The city’s business rebate was good, but it didn’t address the problem: city spending. According to the Canadian Federation of Independent Business, the City of Calgary increased real operating spending by 66 per cent over 10 years, while population growth only increased by 28 per cent. Through these tough times, the city has found some “efficiencies” such as mowing low-use play fields a little less and slightly reducing the growth in Calgary Transit hours, but businesses have been forced to make actual tough decisions to lay off employees or reduce pay and hours to stay afloat – while their taxes have increased. It’s time for the mayor to rub the dollar signs from his eyes and halt his ask for new tax powers. Instead, city council should get with reality and offer long-term tax relief by making meaningful spending reductions. Then they can say with confidence that Calgary truly is open for business. Paige MacPherson is Alberta director of the Canadian Taxpayers Federation.

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Nominations are now closed; thank you to all who have nominated, and to the nominees who are part of this year’s program. We look forward to assembling another group of influential people from our business community who will be honoured for their contributions towards making Calgary a great place to live and work! Business in Calgary will celebrate the 2017 winners at our 10th Annual Awards Gala, and our July issue will feature the Leaders and their companies.

Save the Date Wednesday, June 28th | 6pm To stay informed on details for our event, visit www.businessincalgary.com/leaders or email leaders@businessincalgary.com

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HOUSING STARTS 2017 // URBANOMICS

HOUSING STARTS 2017 THE RECOVERY WON’T BE INSTANT BY JOHN HARDY

A

lthough there is positivity toward a light at the end of Calgary’s real estate tunnel, experts agree the broadside was bigger than some thought.

In 2016, Calgary’s economy, the job market, shaky consumer confidence and the extra hit of last year’s new mortgage rules resulted in a perfect storm for Calgary’s housing market. According to Canada Mortgage and Housing Corporation’s (CMHC) Fall 2016 Housing Market Outlook for the Calgary Census Metropolitan Area (CMA), “The pace of new home construction in the Calgary CMA in 2016 has been weighed down by the decline in economic activity. To the end of August 2016, total housing starts reached 742 units, down 35 per cent from the corresponding period a year earlier. Losses in full-time employment and slower population growth contributed to a decline in housing demand. This along with increased supply in both the resale and new home market have kept new home starts below 2015 levels.” Recovery won’t be instant, says the CHMC forecast and the numbers show this year’s housing starts will likely stay below historical Calgary averages, with improvement by the end of the year and into 2018. Contrary to some simplistic cause-and effect theories, while the Alberta economy and the Calgary downturn impacted housing starts and new home construction, it does not get exclusive blame.

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MARCH 2017 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

Some area builders and developers question the poor timing of last year’s new mortgage rules and the “stress test” for mortgage eligibility. Last fall, when the new mortgage rules kicked in, the reaction from Calgary-area builders, developers, real estate agents and mortgage lenders was almost immediate. There was consensus the federal decision was intended to primarily help cool down the overpriced Vancouver and Toronto markets. Many Calgary-area Realtors have cautioned the new mortgage rules will hit Alberta’s market the hardest. The changes are meant to make it tougher for buyers to qualify if they put less than 20 per cent down. Prior to the new rules, an Alberta family with a household income of $80,000 and a minimum down payment of five per cent would likely have qualified for a $400,000 home. With the rules now in place, the approval will be for a $320,000 home. “Of course consumer confidence is always a key factor in the mortgage market. People refrain from buying and borrowing if they are uncertain about their financial future,” says mortgage expert Amanda Roy, executive director of the Alberta Mortgage Brokers Association (AMBA). “Yes, interest rates are also an important factor as they affect affordability and the amount of mortgage that a borrower can get. “The mortgage amount plus the down payment impacts the type of home that the consumer can purchase. There is


HOUSING STARTS 2017 // URBANOMICS

“A NATIONAL STRESS TEST FOR MORTGAGE ELIGIBILITY ACTUALLY MAKES SENSE. IT IMPACTS THE AMOUNT OF MORTGAGE THAT BORROWERS CAN OBTAIN BASED ON PAYMENTS CALCULATED AT THE SAME QUALIFYING RATE ACROSS CANADA.” ~ AMANDA ROY

typically a direct correlation between market activity and interest rates, however, employment is even more directly correlated to housing market activity.” The AMBA admits the new rules are far reaching and complex in relation to how borrowing costs may be affected, but many in the industry believe the stress test is a signal that eventually mortgage rates will rise. “Some opinions are that the qualifying rate may be too high and somewhat arbitrary,” Roy points out. “The end result is that, on average, borrowers qualify for about 20 per cent less in mortgage amount, which means they have to save more to buy the dream home or settle for a lower-priced entry-level home.” She also notes when it comes to the new mortgage rules impacting areas like Toronto, Vancouver and Calgary, actual calculations could turn into a Calgary positive. “A national stress test for mortgage eligibility actually makes sense. It impacts the amount of mortgage that borrowers can obtain based on payments calculated at the same qualifying rate across Canada. “But it affects each market differently. If borrowers had similar incomes, it would be the same mortgage amount regardless of where they live and own a home. But that same mortgage will buy much more house in Calgary or Edmonton than in Toronto or Vancouver.

“According to Stat Canada’s average annual earnings statistics, Alberta is still higher in terms of income, despite the economy, and the average price for a Toronto or Vancouver home being significantly higher could mean that the Calgary market may be in a better position to handle the stress test than Vancouver or Toronto,” she says reassuringly. Although the dynamic Building Industry Land Development (BILD Calgary Region) group – the respected voice advocating for the Calgary area’s building industry, encouraging effective policy and regulation – carefully monitors the impact of the new mortgage rules on Calgary housing, it underscores the Calgary economy and job market are the prime determining factors of consumer confidence. “The issue is that the major banks routinely build in risk tolerances into their eligibility rules anyway, so we’re confused about the need for further regulations from the feds,” emphasizes respected Calgary business leader Guy Huntingford, CEO of BILD Calgary Region. “Banks build in provisions for losses on their mortgage books mostly based on the job market. It is job losses that worry the banks. Calgary’s almost 19,000 jobs lost in 2016 is the real concern, not mortgage interest rates. “The traffic to our show homes is not filled with people who are, unfortunately and temporarily, out of work.”

ABOVE: AMANDA ROY, EXECUTIVE DIRECTOR OF THE ALBERTA MORTGAGE BROKERS ASSOCIATION (AMBA).

BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // MARCH 2017

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A GREAT EVENING OUT AT ALBERTA BALLET

Ride The Chair That’s Heating Up The Rockies, Ride Teepee Town LX @Banff Sunshine Village Banff Sunshine Village Ski and Snowboard Resort has long been famed for being the home of Canada’s Best Snow, but now we’re making heat for also being the home of the hottest chair in the Rockies, Teepee Town LX. The Luxury Express, Teepee Town LX lift, is located on Lookout Mountain. The chair features heated seats, wind protecting orange bubbles, footrests, and a base area entertainment system.

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Our new heated express has the power to move as many as 1,200 skiers and riders up the mountain per hour. It travels at a top speed of 5.08 meters per second; the high speed express gets skiers to the top of the mountain in less than five minutes. The beauty of Teepee Town LX is that it allows skiers and snowboarders to spend more time getting turns on the mountain and less time warming up in the lodge. “Sunshine is committed to delivering exceptional guest experiences and this addition to the resort will clearly demonstrate our focus on providing comfort and value to our guests,” says Dave Riley, chief operating officer for Sunshine Village. Banff Sunshine Village has a mission is to inspire all guests of the resort to become raving fans of the Canadian Rockies. Throughout the years, the resort has consistently reinvested in the mountain to build Canada’s most modern lifts system. With the arrival of Teepee Town LX, Banff Sunshine Village now has the most innovative and efficient lift system in the country. Sunshine Village boasts the longest non-glacial ski season in Canada, open from November until mid-May each ski season and offers a broad range of terrain for skiers and riders, an award-winning ski and snowboard school, six on-mountain restaurants, three retail shops and more.

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PHOTO SOURCE: BANFF SUNSHINE VILLAGE SKI AND SNOWBOARD RESORT

BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // MARCH 2017

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Simons Has Arrived

Canadian fashion retailer to open first store in Calgary this month Calgary’s retail clothing landscape will evolve once again this month with the opening of Simons. The 176-year-old fashion retailer from Quebec will open its first Calgary store at the Core Shopping Centre on March 16. It will be the company’s 14th store and second in Alberta (an Edmonton store opened in 2012). “Calgary had been on our radar for a while,” explains Peter Simons, CEO of Simons. “We were just looking for the right location and the right partner.” That right location is the first five floors of the historic Lancaster Building on Stephen Avenue, as well as portions of the first, second and third floors of TD Square, for a total of 95,000 square feet. The main floor will run an entire city block on Second Street, between Stephen and Seventh Avenue. The partner is 20 Vic Property Management, who led the 24-month restoration and renovation of the 98-year-old Lancaster Building. Local architecture and interior design firm McKinley Burkart took on the task of integrating the two buildings. Though the old building posed some unplanned obstacles, the design team was able to overcome and use them. “McKinley Burkart was able to bring their creativity and design skills to bear on those issues and turn them into super interesting pieces of the building,” Simons explains. “That’s the sign of a great design team.” Art plays a big role in each Simons store, and Calgary’s location is no exception. Simons commissioned local Calgary artist Maya Gohill to install a three-storey painted mural which runs along the escalators in the Lancaster Building. Numerous other Calgary artists are also represented in the new store. A purveyor of men’s and women’s clothing, Simons houses its own exclusive and private label brands, as well as other international labels. It also carries home fashions for the bedroom, bathroom and kitchen. The Core store will contain

eight distinct branded environments including Twik (for young female shoppers), Icône (modern women’s clothing), Contemporaine (classic fashions for women), Djab (for young men) and Le 31 (for men). Ève café, also situated within the store, will serve treats and provide seating for up to 40 people. Notwithstanding Calgary’s current economic climate, Simons is excited about the new store’s prospects. “It’s been tough for Calgary, no doubt. But I get the sense that Calgary’s landing on its feet, as it always does. We’ve been around 176 years so we look at things a little longer term than the average company. I’m positive looking forward to the next 12 months.” The new store will add approximately 150-200 full-time equivalency jobs to the Calgary market.

ABOVE: THE NEW SIMONS AT THE CORE, EXTERIOR RENDERING. PHOTO SOURCE: MCKINLEY BURKART

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WinSport Elects New Members to Board of Directors Scott Hutcheson appointed as chair WinSport president and CEO Barry M. Heck recently announced three new members have been elected to WinSport’s board of directors. In addition, Scott Hutcheson has transitioned to the position of chair from his vice chair role. Joining the board for two-year terms are Calgary’s Rebecca Morley, Andrew Judson and Greg Kwong. “Rebecca, Andrew and Greg bring a wealth of experience, business acumen and community leadership to the WinSport team and are great additions to an already strong board,” says Heck. “Scott has been instrumental in helping WinSport achieve success during his 10 years on the board and we’re excited for him to continue to be a key contributor in his new role as board chair.” Hutcheson is executive chairman and co-founder of Aspen Properties Ltd. He previously worked as an investment banker for Goldman Sachs & Co. He serves on numerous boards, advisory councils and committees in Calgary, including Arts Commons, Calgary Economic Development’s commercial real estate advisory committee (CREAC), Winterstart and Own the Podium. He has also served on WinSport’s board for the past 10 years. Morley is a senior financial executive and corporate director with extensive experience in portfolio management, fund structuring, fundraising, marketing and compliance and regulatory adherence. Judson is managing director and an investment committee member at Camcor, a private equity fund manager. Kwong is executive vice-president and regional managing director of CBRE Limited and has more than 29 years of experience in the commercial real estate field in markets across Canada. “Rebecca, Andrew and Greg have all done extraordinary work in both the business sector and in the community and we welcome them to the WinSport board,” says Hutcheson. “Their experience, passion and strong work ethic will help

us deliver our purpose of inspiring and activating human potential through the spirit of sport.” The rest of the 2016-17 WinSport board consists of elected members: Barry Heck (president and CEO), Perry Spitznagel (vice chair), Don Archibald, Kevin Benson, Peter Cohos, Jim Peplinski, Jim Riddell, Deborah Yedlin and Paul Zonneveld. Representatives from four key stakeholders are appointed to the board: Kelly Dearborn (Government of Canada), Lloyd Bentz (Province of Alberta), Kyle Ripley (City of Calgary) and Dru Marshall (University of Calgary). WinSport provides world-class sport facilities where Canadian athletes can discover, develop and excel. WinSport owns and operates Canada Olympic Park in Calgary, the Bill Warren Training Centre located at the Canmore Nordic Centre and the Beckie Scott High Performance Training Centre on Haig Glacier. A not-for-profit organization, WinSport supports national sport organizations, encourages educational opportunities and subsidizes the operation of unique training and recreational facilities used by the nation’s top athletes and the general public.

ABOVE: CEO BARRY HECK WITH SCOTT HUTCHESON.

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CMLC Kick-Starts Creation of a Master Plan Vision for Victoria Park One of Calgary’s oldest and most iconic neighbourhoods is set to get a new lease on life. Victoria Park - the innercity neighbourhood and home to the Calgary Stampede and the Scotiabank Saddledome - is the latest focus of Calgary Municipal Land Corporation (CMLC), the organization responsible for the redevelopment of the East Village. CMLC’s vision for the neighbourhood is centred around the idea of a cultural and entertainment district in the east end. It will be Calgary’s first masterplanned downtown district.

“With the new East Village rising rapidly skyward, we’re now turning our attention to the rest of the Rivers District – specifically Victoria Park,” says Michael Brown, CMLC’s president and CEO. He says while sporadic development has helped the community over the years, it hasn’t been enough. “To truly transform Victoria Park and steer the Rivers District toward its full potential, bold moves are needed.”

The Rivers District is a tax jurisdiction established 10 years ago to implement the Community Revitalization Levy (CRL), a funding mechanism which has allowed CMLC to revitalization the East Village and its neighbouring areas. “We’re now halfway through Professional Development IT PAYS TO KNOW the legislated 20-year timeframe for the Rivers District CRL. And our analyses indicate that if we realize the remaining development potential in the Rivers District, we’ll generate another $150 million in CRL revenues,” says Brown. “The Teresa S., PCP - Member Prairie Region CRL pays for new infrastructure and in 2027 when the CRL ends, the city will realize approximately With more than 200 federal and provincial regulations and $50 million every year thereafter in changes each year, staying payroll compliant is one of the property taxes.”

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MARCH 2017 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

To facilitate the CMLC’s vision for Victoria Park, it is committing approximately $150 million into infrastructure and placemaking initiatives. These will include extending 17th avenue SE into/through Stampede Park, completing another stage of RiverWalk, extending the Cycle Tracks program and developing


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THE CITY OF CALGARY CURRENTLY HAS A $3 BILLION CAPITAL PLAN AND HAS RESOLVED TO FOCUS INFRASTRUCTURE INVESTMENTS ON THREE KEY AREAS, ONE OF WHICH IS A CULTURAL AND ENTERTAINMENT DISTRICT.

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streetscapes and development opportunity around the Green Line LRT line. The City of Calgary currently has a $3 billion capital plan and has resolved to focus infrastructure investments on three key areas, one of which is a cultural and entertainment district. CMLC’s first step in the transformation of Victoria Park has been to create a Master Plan. Last October, it issued an RFP to select a Design Collaborative and Master Planning Team. Following a selection process, it selected Mark Johnson of Denverbased Civitas and Stephen Mahler of Calgary’s Gibbs Gage Architects. “The Master Plan vision we develop for Victoria Park will honour and integrate previous and future plans and projects, including Calgary Stampede’s envisioned expansion, the City’s quest for a viable site for a new arena facility, the Green Line extension of Calgary’s LRT and, of course, the East Village Master Plan,” says Mark Johnson, President of Civitas. The Master Planning Team will get started now, with a view to delivering the Master Plan vision by June. Input from community stakeholders and citizens will be sought, and citizens can share their visions for Victoria Park’s future at calgarymlc.ca/riversdistrictmasterplan.

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WHAT’S COMING DOWN THE PIPE // ENERGY

WHAT’S COMING DOWN THE PIPE TURBULENT TIMES FOR CANADA’S PIPELINE INDUSTRY

BY MELANIE DARBYSHIRE

T

he Canadian pipeline industry has been around a long time – 164 years to be exact. Since the first transmission pipeline was built in 1853, energy transmission pipelines have been a growing, essential part of Canada’s existence. Today, there are an estimated 830,000 kilometres of underground transmission, gathering and distribution lines in Canada, including 119,000 kilometres of large-diameter transmission lines. Most provinces have significant pipeline infrastructure. Throughout most of this history, the industry received very little public or political attention. Pipelines were proposed, approved, built and regulated (including through national parks) without much ado. Over the last 10 years however, everything changed. “A lot of things that had been evolving came to a head for the pipeline industry in 2016,” explains Chris Bloomer, president and CEO of the Canadian Energy Pipeline Association (CEPA), which represents the 12 major pipeline

companies that move 97 per cent of Canada’s natural gas and onshore crude oil. “There had been a growing dialogue around a number of issues including the environment, indigenous concerns, access to markets and perceptions of safety – pipelines had become the focus for a broad array of issues.”

ABOVE: KINDER MORGAN - LAYING PIPE. BELOW: CHRIS BLOOMER, PRESIDENT AND CEO OF THE CANADIAN ENERGY PIPELINE ASSOCIATION. PHOTO SOURCE: CEPA

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WHAT’S COMING DOWN THE PIPE // ENERGY

“THERE HAD BEEN A GROWING DIALOGUE AROUND A NUMBER OF ISSUES INCLUDING THE ENVIRONMENT, INDIGENOUS CONCERNS, ACCESS TO MARKETS AND PERCEPTIONS OF SAFETY – PIPELINES HAD BECOME THE FOCUS FOR A BROAD ARRAY OF ISSUES.” ~ CHRIS BLOOMER Gaétan Caron, former chair and CEO of the National Energy Board (NEB) and current executive fellow at the University of Calgary’s School of Public Policy, traces the onset of this focus to a series of major energy sector accidents, all of which occurred in 2010. The Deepwater Horizon oil spill, the Kalamazoo River oil spill and the San Bruno natural gas pipeline explosion cast the oil and gas and pipeline industries in a terrible light. “[These accidents] presented to a global audience a picture of a non-renewable energy sector fraught with risks and capable of having major negative impacts on people and their environment,” Caron explains. “At the same time,

a perception that the federal government was not doing enough in the fight against climate change made some people leverage public hearings for pipeline projects as a place to convey their concerns.” Indeed, climate change has had much to do with it. “We are in the midst of a renegotiation of our energy systems and there is a growing belief that we’re heading toward a low-carbon future,” says Trevor McLeod, director of the Centre for Natural Resources Policy at the Canada West Foundation. “Sadly, the pipeline sector (and oil and gas more broadly) have become a proxy for climate action in the minds of many.”

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WHAT’S COMING DOWN THE PIPE // ENERGY

Government action, too, contributed. Jennifer Winter, scientific director, energy and environmental policy at the University of Calgary’s School of Public Policy, says that changes to the National Energy Board Act and the Canadian Environmental Assessment Act by the Harper government in 2012 (meant to improve the regulatory process) triggered public and political abhorrence. “Those changes became part of a broader political discussion and enabled a negative political response from the federal Liberals and NDP,” she explains. “That played out in the 2015 election.” Statements that the public doesn’t trust the NEB anymore were made, most notably by Prime Minster Justin Trudeau. “And I think statements like that can be very damaging to the regulatory environment,” Winter says. The industry, Winter says, took time to react. “They were slow to realize that this change was happening and to realize that arguments about economic benefit associated with the energy industry aren’t particularly salient.” Environmental arguments, on the other hand, have instant emotional draw. During the same period, market access issues came to the fore. The drop in energy prices in late 2014 drove the point home: with limited access to markets, the Canadian oil and gas industry is vulnerable to swings in the oil price. Pipelines to Eastern Canada, the U.S. and the West Coast are needed. By the beginning of 2016, things were bleak for the industry. “It was very uncertain, challenging and difficult to see where things were going to go,” Bloomer recalls. Accordingly, CEPA is trying to change public opinion. Last year, it conducted a survey on public perceptions of pipelines. One important finding: approximately 30 per cent of people are conditional pipeline supporters. “And with more information, there is the potential they can become full supporters,” Bloomer says. This information, he explains, must include the pipeline industry’s approach to safety and its impact on the economy. CEPA says the safety record of Canadian pipelines is 99.999 per cent. “Our target is to get to zero [incidents], but we operate with world-class safety standards,” LEFT: JENNIFER WINTER, SCIENTIFIC DIRECTOR, ENERGY AND ENVIRONMENTAL POLICY AT THE UNIVERSITY OF CALGARY’S SCHOOL OF PUBLIC POLICY. RIGHT: TREVOR MCLEOD, DIRECTOR OF THE CENTRE FOR NATURAL RESOURCES POLICY AT THE CANADA WEST FOUNDATION. PHOTO SOURCE: CANADA WEST FOUNDATION

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WHAT’S COMING DOWN THE PIPE // ENERGY

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Bloomer says. In 2013, all CEPA members entered into a Mutual Emergency Assistance Agreement, which formalizes the practice of members requesting assistance from each other when needed. According to the Transportation Safety Board, between January and November 2016 there were zero pipeline accidents reported in Canada, nor were any reported in 2015. That same year, along federally-regulated pipelines, 38 companies transported 1.4 billion barrels of oil and 65 companies transported 152 billion m³ of natural gas. The 2010-14 average was eight accidents per year. “Pipelines remain the safest way to transport oil and gas,” says McLeod. “The increase in the use of rail to export our petroleum means we are using a mode of transportation that carries higher risks of spills and related injuries and has a higher GHG footprint.” Prior to 2012, almost all petroleum products were transported via pipeline, but as pipeline capacity becomes more constrained, crude-by-rail shipments have spiked. In January 2012, just over 9,000 bpd of crude oil was exported via rail; by January 2016, rail exports increased 925 per cent to 96,000 bpd. The pipeline industry’s contribution to the economy is, Bloomer believes, underappreciated. According to McLeod, in 2015, the operation of pipelines had a direct impact of nearly $4 billion on Canada’s GDP. “Across Canada, 18,772 jobs exist because of the pipeline industry (direct, indirect and induced). Thirty-five per cent of these jobs – nearly 6,500 – are in Alberta.” “The contribution to the economy, in terms of revenue and employment, for any given pipeline is relatively small,” Winter clarifies. “What matters is the industry’s role in enabling trade and the flow of energy from producing regions to consuming regions. This infrastructure is part of what underpins society and the lifestyle we enjoy.”

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Improved engagement with communities is also part of the plan. “Companies and communities tend to be on different timelines and, often, they seem to speak different languages,” McLeod explains. “We are getting better but there is still some distance to travel.” ABOVE: KINDER MORGAN TRANSPORTING PIPE BY TRUCK. PHOTO SOURCE: CEPA

haskayne-emba.ca BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // MARCH 2017

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WHAT’S COMING DOWN THE PIPE // ENERGY

TO THE INDUSTRY’S RELIEF, 2016 CLOSED OUT ON A FEW HIGH NOTES. THE FEDERAL GOVERNMENT APPROVED KINDER MORGAN’S EXPANSION OF THE TRANS MOUNTAIN PIPELINE, ALBERTA’S ONLY PIPELINE TO THE WEST COAST, WHICH WILL TRIPLE ITS CAPACITY.

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IT’S EXPECTED TO COME ONLINE IN 2019. To the industry’s relief, 2016 closed out on a few high notes. The federal government approved Kinder Morgan’s expansion of the Trans Mountain pipeline, Alberta’s only pipeline to the West Coast, which will triple its capacity. It’s expected to come online in 2019. “Expanding Trans Mountain is a good start, but it still leaves Canada with only one pipeline to move our oil to the fastest growing markets,” McLeod says. He notes the U.S. now meets about 90 per cent of its energy demand with domestic resources, and its oil imports are declining. “It is in the Asia Pacific region that demand for oil will continue to increase – not just in China, but also countries like India and Indonesia.” For now, Trans Mountain is the only route West, as Enbridge’s Northern Gateway pipeline was rejected by the federal government. Other positives were the approval of Enbridge’s Line 3 replacement, which will add 370,000 bpd capacity to the U.S. Midwest and the election of Donald Trump as president of the U.S., who approved TransCanada’s Keystone XL project during his first week in office. On the climate change front, Bloomer is hopeful Alberta’s government has positioned itself, through policies like the 100 megaton cap on the oilsands and the carbon tax, to support pipelines. “Industry knows that, through technology, it can make changes and meet the goals of producing and growing within that cap.” Caron says the federal government’s approval of pipelines is a good sign, given its position on climate change. What the future has in store for Canada’s pipeline industry, no one knows. With the critical, albeit conditional support, of the federal and provincial governments, the industry has cause for optimism. Its record on pipeline safety, community engagement and environmental stewardship will bear much weight.

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MARCH 2017 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM


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A RESOUNDING SUCCESS // COVER

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A RESOUNDING SUCCESS // COVER

A RESOUNDING

Success

ENERPLUS’ IAN DUNDAS LEADS YMCA’S POWER OF POTENTIAL BY MELANIE DARBYSHIRE

F

or the past 115 years, the YMCA Calgary has been a fundamental institution in this city. It has served the needs of the young and the old, the needy and the affluent, the newcomer and the born-and-bred. It has been a place of sport, recreation, community and learning – a place to foster both physical and mental health – for more than 40,000 Calgarians every month. As Calgary has grown and changed over that time, so too has its YMCA. Whether through the addition or upgrade of facilities, expanded programs or new community initiatives, the charitable organization has strove to never lose touch with the city it lives to serve. That city has, in turn, supported its YMCA. The most recent example of this support was born out with the YMCA’s Power of Potential (POP) Fundraising Campaign. Begun in April 2014 (the public kickoff was in

February 2015) with the goal of raising $30 million – $23 million for three new facilities, $4 million for upgrades to Camp Chief Hector and $3 million to expand community programs – the campaign is in the final phase and has raised $27.1 million at the time of printing. No small feat considering Calgary’s current economic climate. The campaign cabinet could not be happier with the accomplishment. Foremost among them is Ian Dundas, campaign co-chair. He is also president and CEO at Enerplus Corporation. “To be honest, I didn’t think raising $30 million would be that hard,” Dundas admits. “It’s not a small amount of money but it’s not a small little charity, it’s a very impactful one.” He highlights the YMCA’s broad footprint: “What really appeals to me is that they are at the heart of sustainable community building; a focus on families, on children and on building life skills.”

ABOVE: IAN DUNDAS, CAMPAIGN CO-CHAIR AND PRESIDENT AND CEO AT ENERPLUS CORPORATION. PHOTO SOURCE: EWAN PHOTO VIDEO

BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // MARCH 2017

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A RESOUNDING SUCCESS // COVER

A husband, father of four children and Calgarian all his life, Dundas agreed to become co-chair after he was approached by two friends, both of whom are members of the YMCA board of directors, for the job. “I thought it was a social call,” he laughs, “and then the pitch came.” Though he was familiar with the YMCA’s story and what it did (he is a member and sends his kids to camp), his friends enlightened him further. “They’ve got these buildings and they lever off them and benefit such a wide range of people,” he explains. “In some instances these are the community centres of old, in other instances kids without anything else going on have a place to go. Calgarians from all walks of life end up using these facilities and building these life skills.” There are currently six YMCA facilities in Calgary, the newest being the Remington YMCA at Quarry Park which opened July 1, 2016. This facility was one of three that was funded, in part, by $23 million from the POP campaign. The other two are the Rocky Ridge Recreation Facility, estimated to open in 2018, and the Seton Recreation Facility, estimated to open in 2019. All three facilities are owned by the City of Calgary, which contributed $447 million to the total project budget. Narmin Ismail-Teja, chair of the YMCA board of directors, is excited about the new buildings. “By the time all three facilities are open, we will have doubled,” she says enthusiastically. Close to 300 jobs will be created, with another 400-600 volunteer opportunities. The facilities will be world class, she says, with beautiful architecture, state-of-the-art equipment and plenty of natural light. There will be new features as well, including ice rinks, theatres and art studios. When the Rocky Ridge facility opens, it will be the largest YMCA facility in North America (at just under 300,000 square feet), only to become the second largest once the Seton facility (just under 330,000 square feet) opens the following year. Another portion ($4 million) of the funds raised will be used for upgrades to staff housing and additional family accommodations at Camp Chief Hector (CCH). Opened in 1930 in Kananaskis Country, CCH has provided unforgettable outdoor experiences for more than 200,000 children. Each year, roughly 10,000 campers attend one of the programs offered at CCH, including summer camp, year-round outdoor

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“THE Y IS AN ORGANIZATION THAT’S DOING EVERYTHING IT SAYS IT WILL, IT’S MANAGING THESE ASSETS, DELIVERING PROGRAMS AND HAS GOOD GOVERNANCE. ALL OF THOSE THINGS ARE SO CRITICAL.” ~ IAN DUNDAS programs for schools, Mountain Haven (a program for women leaving abusive relationships) and family camp. The third tranche ($3 million) of the funds will go towards YMCA community programs. These include employment, leadership, education enrichment, recreation, childcare and international awareness programs at more than 60 sites throughout the city. For Ismail-Teja, this is what the YMCA is all about. “When I think of the work of the Y, it’s not about the facilities,” she says. “It’s all the community work.” She references the YMCA’s strategic plan: “It boils down to four words: belong, grow, thrive and lead – that’s what we’re about. We might do that through basketball, through swimming or through a leadership program, but those four words are the most important things for why we do what we do.” To Dundas, that the YMCA is the “entire package” appealed to him. “The Y is an organization that’s doing everything it says it will,” he says. “It’s managing these assets, delivering programs and has good governance. All of those things are so critical.” Despite all of this, fundraising wasn’t as easy as Dundas had expected it to be; as the campaign began, the price of oil plummeted, bringing Calgary’s economic fortunes down with it. “This took way longer than we thought it would,” he says. “We were talking to people as they were seeing their wealth evaporate on a daily basis at levels they’d never even imagined. And yet they still contributed.” He credits the resilience of the campaign cabinet, who never gave up, in a city which never gave up. “We knew that if we kept going we’d get there, and we have.” In particular, he


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A RESOUNDING SUCCESS // COVER

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MARCH 2017 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM


A RESOUNDING SUCCESS // COVER

applauds co-chair, Evan Hazell. “He is superman,” Dundas says. “He’s worked so hard on this.”

Dundas explains. “We’re drilling some of the best wells in shale in North America.”

Calgary’s resiliency, and its citizens’ desire to give back, was also key. “It’s been an incredibly generous city,” says IsmailTeja. “There are people here that do really well, who also have very generous spirits. And so at a time when we weren’t sure how we’d make this happen, we’re pretty much there.”

The company’s investor makeup has also changed dramatically – from exclusively retail to strong institutional investors today – as has its growth pattern, which Dundas describes as organic.

Donations ranged from $5 to $3.5 million from individuals, families, organizations and corporations. Dundas put his connections in Calgary’s oil and gas industry to use, starting with a $650,000 donation from Enerplus. This is notwithstanding the fact the company, like all others in Calgary, has suffered the downturn.

The makeover was not without pain though, the worst of which came with layoffs. With most of Enerplus’ assets now in the U.S., it meant fewer people were needed. “Our company has fallen by more than half,” Dundas says of the roughly 450 people who were let go. “We’ve parted ways with some exceptionally dedicated people, but there was no choice. That was a low moment.”

Dundas became CEO on July 1, 2013 after having spent 13 years at the company in various business development roles. Prior to joining Enerplus, he was a merchant banker, investing mostly in oil and gas companies, and before that, he had a short stint as a lawyer.

The tough decisions paid off, and Dundas says Enerplus’ business looks more interesting today with $50 oil than it did at $90 oil. “We can be profitable,” he says. “We can grow organically living within our cash flow. It’s an incredible financial turnaround.”

The story of Enerplus – a moderately-sized public oil and gas company – is one of ups and downs. “We were the bomb at one point,” Dundas says. “We had a little bit of everything in Canada and a great valuation.” That was pre-2011 – the year the federal government began taxing royalty trusts. “That wasn’t so fun,” Dundas recalls. Other challenges included the financial crisis and the fracking boom in the U.S., both of which forced Enerplus to change or risk dying.

With the wrap up of the POP campaign, Dundas’ formal role with the YMCA has come to an end, though he’s open to working with it in the future. “There’s need everywhere in the city,” he says, “and a lot of opportunity to help.”

An overhaul of the asset base and a repositioning of the company’s balance sheet and cost structures (the company cut 30 per cent of its costs over the last 2.5 years) was prescribed. A decision that growth would take a back seat to preserving financial strength was also made, which meant paying down some debt. These actions helped Enerplus withstand the downturn. “Today we are a resource-play focused company with the single-largest growth project in the company coming out of the U.S.,”

The YMCA has no plans for another major fundraising campaign other than the Strong Kids Campaign, which aims to raise around $1.5 million each year to subsidize children and youth who can’t afford to be engaged in YMCA programs. For the foreseeable future, the plan is to open the new facilities and continue to grow its community programs. A successful fundraising campaign in a time and place which, to the rational observer, would seem impossible. But with an undeniable cause and a leadership team to make any fundraiser swoon, the YMCA’s POP campaign had a high probability of success from the start. Its fruitful conclusion is further testament to Calgary being a great city.

LEFT: IAN DUNDAS, CAMPAIGN CO-CHAIR AND PRESIDENT AND CEO AT ENERPLUS CORPORATION. PHOTO SOURCE: EWAN PHOTO VIDEO

BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // MARCH 2017

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TO BUILD OR NOT TO BUILD // CONSTRUCTION / RENOVATIONS

To Build

or not to

Build? TH AT I S T HE Q UEST IO N The health of Alberta’s construction and renovation industry BY ERLYNN GOCOCO

A

lberta’s economy has been hit hard – many who suffered job loss have been forced to sell their home(s), and consequently, some have also felt the need to renovate in order to maximize the selling price. In some cases, renovation or new build projects have been halted altogether and certain commercial projects have been slowed as well. But many industry leaders see a bright future ahead for Alberta’s economy and, in turn, for its construction and renovation industry. Calgary, in particular, has seen several commercial projects take flight despite the economic downturn. Our city, full of fitness and sports enthusiasts, has welcomed several new fitness facilities to cater to almost

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MARCH 2017 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

every kind of workout, from spinning to yoga to rowing to boxing – the list goes on and on. One construction company in particular has been busy and involved with some of the city’s most popular workout joints. Ryan Murphy Construction Inc. is responsible for building commercial space for companies such as Junction 9 Yoga & Pilates in Inglewood, and most recently Undrcard Boxing located on 10th Avenue SW. Lara Murphy (of Ryan Murphy Construction) says, “The most prevalent effect we have noticed is a delay in lead times for projects getting up and running.” She also believes the slow in the economy has caused an “apprehension in


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TO BUILD OR NOT TO BUILD // CONSTRUCTION / RENOVATIONS

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spending.” Add that to the surplus of spaces available for lease in Calgary and the result is prolonged negotiations. Murphy goes on to say securing financing for some clients is also proving to be very difficult. “That said, we have recently noticed an upward trend in new projects coming to tender and hope this is a lead indicator of things improving in 2017 – the new normal may have arrived,” Murphy says with confidence. The residential construction industry has also seen some positive growth within the recession period. Matthew Neufeld, owner of Braemyn Homes, says that although his company, along with many others, has seen the negative effects of the recession, he believes that with the negative comes the necessity to work hard during tough times, something that is “truly the beauty within our industry.” He states transparency is key to retaining and maintaining valued contacts. When Alberta’s economy is thriving, many builders and renovators, according to Neufeld,

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ABOVE LEFT: KAREN RYAN AND LARA MURPHY OF RYAN MURPHY CONSTRUCTION. ABOVE RIGHT: JUNCTION 9 YOGA & PILATES STUDIO IN INGLEWOOD. PHOTO SOURCE: RYAN MURPHY CONSTRUCTION.

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// CONSTRUCTION / RENOVATIONS

Building Envelope Contractor

Bow Centre

will inflate their profits based on demand keeping their honest budgets behind “closed doors.” Braemyn Homes has never done so and “provides researched, itemized costs on a client’s project for their review. This creates a trustworthy relationship between the builder and client – necessary in an uncertain market,” advises Neufeld. Despite the slowed economy, Neufeld says projects are still a go, but many potential customers are making decisions with a greater consideration to budget, quality, detail and transparency. Braemyn Homes is proud to have seen positive growth during the economic downturn and Neufeld believes this is recognized by their core values of being “honest and fair all while working hard to ensure an exceptional product.” “Challenges ahead for 2017 definitely relate to late 2016 mortgage rule changes – November 1st National Energy Code 9.36 implementation, gypsum board tariffs, expected carbon tax cost increases and U.S. exchange rates,” says Peter Skolaude, local real estate agent and area sales manager for Calbridge Homes Ltd. He maintains that although challenging, builders are poised to deal with these changes with the goal of providing maximum value to consumers. Skolaude explains that when it comes to new construction in the single-family residential sector, builders have a unique insight due to the timelines involved with selling this type of product. He provides the example of when the market started to cool in 2014. “We slowed down sooner than the resale market because our clients are looking at making a purchase that will take much longer to close (8-12 months versus 60-90 days). This definitely makes us a leading indicator of consumer attitude and potential market direction as confidence to buy or upgrade a home is probably one of the biggest commitments a person will make in their lifetime.” He is also confident and encouraged by conversations with Calgarians and potential relocation prospects looking to upgrade. As the job market stabilizes, Skolaude believes everyone will take notice that Calgary’s housing affordability

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BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // MARCH 2017

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TO BUILD OR NOT TO BUILD // CONSTRUCTION / RENOVATIONS

is at a historic low (RBC). “Calgary is a great deal!” Skolaude adds that because companies had the 2008 financial crisis fresh in their memories, most builders were not sitting on a large inventory of spec product when the market started to slow in 2014. He says many were able to react quickly to reduce inventory, costing and overhead. “So given that history, we came into 2016 very lean and with conservative expectations and great value in product.” According to the City of Calgary’s planning and development department, 5,139 development permits were approved in 2016. Further to those statistics, 14,941 building permits, 60,156 trade permits and 38,722 business licences were issued. Kevin Griffiths, director of Calgary Building Services with the City of Calgary’s planning and development department, confirmed Calgary’s construction values reached $4.7 billion in 2016, demonstrating that despite the current economy many developers remain confident in investing in our city.

average, and well above the 2010 value of $2.9 billion. “Overall, the number of permits issued fell marginally, less than four per cent overall. Home renovation projects in 2016 remained consistent with activity in 2015.” It is also important to note the relationship builders have with the city is crucial to meeting project deadlines and making important construction decisions. Griffiths explains the city is working closely with industry to better serve our city and enable development that meets the needs of Calgarians. “The city has worked with industry to develop a work plan which identifies opportunities for capital investment that could bring economic stimulus for Calgary. As part of this work, for example, the city improved how we process a number of development permit application types from previous years, which has made it faster for developers to obtain decisions on their applications. This enhancement will help developers move more quickly to building permits, and eventually construction.”

“A number of significant projects were submitted to the City of Calgary in 2016. While not a guarantee they will move to completion, it is a strong indicator construction work will begin or continue into 2017 and 2018. A few examples of these multimillion-dollar projects include the Arris Towers valued at $131 million (553 Riverfront Ave SE); the Orchard valued at $57 million (12 Ave SE); and Crosstown Towers valued at $78 million (25 Ave SW).”

So what does the future of construction and renovation look like for Calgary? “All builders are expecting challenges and disruptions but to what extent we are unsure,” says Skolaude. “I do think we are poised to continue to provide excellent value to consumers and that consumers are definitely starting to notice with increasing confidence.” Murphy echoes these sentiments and adds, “In construction any given company has a Rolodex of potential and recurring clients that are always evolving. Predicting how these unfold, I’ve learned, is next to impossible. We work them all!”

He goes on to say while Calgary’s construction values last year ($4.7 billion) were below Calgary’s record-breaking years of 2014 and 2015, they remain on par with its 10-year

There is no doubt we will see a correction in our economy, and when we do, Alberta’s construction and renovation industry will be ready and waiting. ABOVE: SINGLE-FAMILY BEACHFRONT HOMES IN MAHOGANY BY CALBRIDGE HOMES. BELOW: KEVIN GRIFFITHS, DIRECTOR OF CALGARY BUILDING SERVICES WITH THE CITY OF CALGARY’S PLANNING AND DEVELOPMENT DEPARTMENT. PHOTO SOURCE: CITY OF CALGARY, CALBRIDGE HOMES.

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MODEST STABILIZATION FOR CALGARY’S REAL ESTATE MARKET // REAL ESTATE

MODEST

STABILIZATION FOR

CALGARY’S

REAL ESTATE MARKET BY LORENA MCDONALD

A MOVE TOWARDS REBALANCED CONDITIONS

A

fter two years of recessionary conditions, there is renewed optimism Calgary’s housing market will stabilize this year. Such expectations might not affect all property segments and types, but this is still good news for home sales that have declined by 12 per cent below long-term averages since the downturn. In fact, there is hope that both detached and attached real estate segments will reach balanced conditions as economic conditions slowly improve. “Sales activities, while they are expected to remain low, are not expected to decline any further,” explains Ann-Marie Lurie, chief economist at the Calgary Real Estate Board (CREB). “They are starting to level off at lower levels essentially, but it is a reflection that economic conditions are not expected to get any worse and some improvements are expected to come.” Still, the benchmark price in the apartment/condo market is expected to drop another two per cent because of high inventory levels, while single-family home values are expected to stabilize with the decline of new home inventories and resale listings. CREB’s recent 2017 Economic Outlook and Regional Housing report forecasted citywide sales to make a three per cent gain over 2016 with detached home prices projected to rise by 0.8 per cent to $506,260, and attached home prices to rise by 0.5 per cent to $334,648. These projections are encouraging for city districts that have experienced declines in sales and price reductions during the past two years.

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MODEST STABILIZATION FOR CALGARY’S REAL ESTATE MARKET // REAL ESTATE

In particular, this news is especially reassuring for those living in the city centre where steeper price contractions occurred during the onset of the recession. Lurie says, “This segment of the market was impacted first. So, we started to see that pull back in demand a lot sooner in the higher end of the market relative to the supply. Now, this year there is no question that (supply) has been starting to decline.” An overall easing of product inventories will not just benefit the higher-end detached market, but it will help other districts to gain more stable conditions as well. “We saw some moderate improvement in sales, but at the same time – in the higher end of the market – the amount of listings have also been dropping, so, the oversupply is starting to come off,” Lurie adds. “There is almost an adjustment to the new reality of lower demand and that is what will help reach stability.” Subsequently, the moderate improvement of inner-city home sales last year might have been attributed to low inventory and better affordability in this segment of the market.

“MANY ARE TAKING ADVANTAGE OF THE LOWER PRICES IN LUXURY HOMES TO MOVE UP INTO A HOME THAT THEY COULD NOT HAVE AFFORDED BEFORE THE RECESSION.” ~ KAREN FAWCETT

“Many are taking advantage of the lower prices in luxury homes to move up into a home that they could not have afforded before the recession,” says Calgary Realtor Karen Fawcett with RE/MAX Realty Professionals. Fawcett attributes this slight movement in home sales to anticipation things will improve. “I am also seeing buyers outside of Calgary that have been watching the market closely deciding that now is the time to buy; which was reflected in the increase in activity we saw in December,” she adds. Yet, Lurie cautions it will take a gradual shift to reach balanced conditions across all real estate segments since sales remain significantly below normal, and price stabilization needs to occur. The district with the largest price reduction – the southeast – was mostly affected because of elevated inventory levels and added competition from new home builds. “There are a lot of new communities in the southeast which impacted that district more,” Lurie explains. An oversupply of new builds forced the detached sector in this area to fall the most year-over-year in benchmark price by 5.1 per cent to $447,967 while the attached sector fell 4.56 per cent in benchmark price to $242,542. In comparison, the north fared much better during the downturn with only a 1.77 per cent decline in the detached benchmark price of $443,225 year-overyear while the detached sector prices in the northeast fell slightly more by 2.12 per cent to $390,317 in the benchmark price year-over-year. These two districts did better than others because there was essentially more demand for homes in the price point areas.

ABOVE: KAREN FAWCETT, REALTOR RE/MAX REALTY PROFESSIONALS.

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CHESTERMERE

Kinniburgh

CHESTERMERE KINNIBURGH


MODEST STABILIZATION FOR CALGARY’S REAL ESTATE MARKET // REAL ESTATE

Overall, the west had the best growth with 1,226 detached home sales at 13 per cent, but still had a decline of 2.35 per cent in the detached benchmark price of $697,467 year-over-year. Levels in inventories essentially need to balance with demand in order to stabilize the real estate market. Lurie says, “Really what the story is to me is a lot less about demand because we know that demand is remaining weak, but it is really about supply adjusting to the new levels of demand.” Likewise for new construction builds, “2017 should see a year of moderate growth, primarily in the second half of the year as we work through both standing MLS and new inventory in all sectors,” says Allan Klassen, chair of BILD Calgary Region. Klassen predicts new construction projections this year in the range of 3,2004,000 for single-family homes; and 3,800-4,800 for multi-family homes depending upon year-end standing inventory.

“MANY OF OUR CLIENTS WHO WERE APPROACHING THEIR MAXIMUM QUALIFYING NUMBER ARE NOW LOOKING AT A PURCHASE PRICE ROUGHLY 20-26 PER CENT LESS THAN IT WAS BEFORE THE CHANGES.” ~ PAUL BOJAKLI

“There has been a slowdown in sales primarily due to the amount of supply in the apartment/condo market, (but) there are some amazing opportunities in this market to purchase a single-family or semi-detached home that consumers are opting for,” Klassen says. While there is a slight positive outlook that inventory levels will gradually rebalance with demand, there still remain risk factors that could slow recovery. Some concerns depend upon the current economic conditions and the new mortgage regulation rules that are affecting real estate. “The new rules will certainly not help the Calgary market,” says mortgage broker, Paul Bojakli with Quantus Mortgage Solutions. “I feel they will negatively impact the market in a couple of ways (through) purchasing and refinancing. We have seen significant changes already – basically everyone qualifies for less.” Bojakli says it means there are fewer financing options for homebuyers that may affect all segments of the market. “Many of our clients who were approaching their maximum qualifying number are now looking at a purchase price roughly 20-26 per cent less than it was before the changes,” he adds. This weakening in purchasing power can potentially put a downward pressure on the real estate market, which for some has changed their mind from buying. Still, it will be hard to say if the new mortgage rules will deter homebuyers. “Everyone wants to own a home, but it’s going to come down to affordability – matching that with the home you want,” explains Bojakli. Ultimately, Calgary’s real estate market has many hurdles to overcome due to the current economic landscape and new mortgage regulations – to name a few. But, there is no doubt a recovery will happen; it is just not known how long this will take.

ABOVE: PAUL BOJAKLI, MORTGAGE BROKER/OWNER, QUANTUS MORTGAGE SOLUTIONS.

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DRIVING THE FUTURE // CALGARY AUTO & TRUCK SHOW

DRIVING INTO THE FUTURE THE 37TH ANNUAL CALGARY INTERNATIONAL AUTO AND TRUCK SHOW COMES TO THE BMO CENTRE

BY KIM LOCKE

T

he automotive industry fuels the careers of the over 36,000 Albertans employed by dealers, mechanics, retailers and aftermarket servicers; injects more than $4 billion annually into the provincial economy; and pumps in excess of $654 million in taxes per year to the provincial treasury. One of the pinnacle events for the industry each year is the Calgary International Auto and Truck show, coming to the BMO Centre at Stampede Park from March 15-19, 2017. Presented by the Calgary Motor Dealers Association,

a non-profit organization comprised of 78 franchised car dealerships in the city, the show touches all corners of Calgary’s automotive industry. It’s one of the few shows that combines major manufacturers, accessory exhibitors and heavy trucks all under one roof. With an unbelievable 5.75 acres of space displaying 300 vehicles from 30 manufacturers, alongside accessories, digital walls and interactive displays, it’s a huge draw each year for consumers wanting to check out the latest and greatest in the automotive world.

ABOVE: THE 2017 LAND ROVER DISCOVERY MAKES ITS NORTH AMERICAN DEBUT AT THE L.A. AUTO SHOW. PHOTO SOURCE: JAGUAR LAND ROVER LIMITED.

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DRIVING THE FUTURE // CALGARY AUTO & TRUCK SHOW

Jim Gillespie, executive manager of the Calgary Motor Dealers Association, works tirelessly yearround to put on a great show. He organizes the entire show with only one full-time staff member and is expecting that in this, its 37th year, the show will attract over 80,000 car enthusiasts and people who are thinking of purchasing a new vehicle. “The auto show is really the start to our spring selling season,” says Gillespie. “Our dealers anticipate an increase in business following the show, and they normally have show specials that reflect the anticipated increase in business.”

“THE AUTO SHOW IS REALLY THE START

Orchestra. Many local businesses have donated live and silent auction items and like the vehicles that provide the backdrop for the event, bidding can get fast and furious. Since the gala began in 2000, $3.7 million has been raised for local charities.

Further honouring its tradition of being a great community partner, the show is partnering with the Calgary Flames to offer great deals on admission as well as eligibility for prizes. Ticket holders to the Wednesday or Friday Flames game during the week of the auto show will pay only $5 at the door for admission to the show and anyone who wears a Flames jersey throughout the show can enter to win great prizes. To encourage more women to come check out the show, the first 750 ladies in attendance on the evening of Thursday, March 16 will receive a special gift.

TO OUR SPRING SELLING SEASON.” - JIM GILLESPIE

Again this year, the show kicks off with Vehicles and Violins, a gala fundraiser event Tuesday evening, March 14, which this year supports the Mustard Seed and the Calgary Prostate Cancer Centre. The gala provides an exclusive opportunity to preview the show while enjoying international cuisine and listening to live musicians from the Calgary Philharmonic

TOP LEFT: 2018 FORD F-150. TOP RIGHT: THE 2017 LAND ROVER DISCOVERY MAKES ITS NORTH AMERICAN DEBUT AT THE L.A. AUTO SHOW. CENTER: BENTLEY’S REMARKABLE AND IMPOSING SUV TAKES THE SEGMENT TO A NEW LEVEL. PHOTO SOURCE: FORD MOTOR COMPANY , BENTLEY MOTORS, JAGUAR LAND ROVER LIMITED

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// CALGARY AUTO & TRUCK SHOW

Canadian Owned. Canadian Made. For Canadian Climates.

If luxury is what you’re into, the show won’t disappoint, with Bentley, Rolls-Royce, McLaren and Maserati all in attendance. Highlights include the Bentley Bentayga, Infiniti F1, Audi R8 Spyder, Audi Q5, and the new 2017 Land Rover Discovery. And perhaps the most exciting car at this year’s show is the Ferrari F12tdf. A homage to the historic Tour de France Automobile, fewer than 800 of these vehicles are in existence. One glimpse of this exclusive masterpiece will have attendees immediately imagining themselves in the driver’s seat, navigating its namesake’s hills and corners after reaching 0-100 in an incredible 2.9 seconds. On the other end of the spectrum, it wouldn’t be Alberta without a full array of trucks on display. One of the most anticipated is Ford’s 2018 F-150, newly styled inside and out with safety and entertainment options such as adaptive cruise control, precollision assist including pedestrian detection, lane-keeping assist, Bang & Olufsen audio, 4G LTE Wi-Fi Hotspot, Apple CarPlay and Android Auto. Under the hood, the new power-train lineup has been engineered with greater fuel efficiency and power and notably, a much-anticipated diesel option is finally available. After checking out the pickups, attendees can keep on truckin’ over to the Heavy Truck display which will feature Smokin’ Gun, a 1968 Canadian Kenworth W-923. Owned by Smokin’ Gord Cooper, who holds the world record for hotrod semi trucks, it’s the fastest nitrous-injected diesel pro rig in Canada and can reach 120 mph.

SMALLER IS BIGGER BOSS Lubricants started as a small family-owned business in 1992. Our family is a lot bigger today, but our philosophy hasn’t changed. We still pride ourselves in putting our people and our customers first. Building relationships is our true advantage, which is why we celebrate birthdays and cheer each other on. Getting to know our customers and their stories is part of what keeps our business so interesting.

BOSS Lubricants - Calgary, AB 112-6303 30th Street SE Calgary Alberta T2C 1R4 Canada Tel: 403-279-2223

www.BOSSlubricants.com BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // MARCH 2017

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DRIVING THE FUTURE // CALGARY AUTO & TRUCK SHOW

...IN THIS, ITS 37TH YEAR, THE SHOW WILL ATTRACT OVER 80,000 CAR ENTHUSIASTS AND PEOPLE WHO ARE THINKING OF PURCHASING A NEW VEHICLE.

Also not to miss is the chance to get a glimpse of the future. Concept cars such as the Subaru Viziv-7, the Toyota Mirai and the Acura Precision will also be on display foreshadowing the future direction of the automobile industry. The Toyota Mirai, for instance, is one of the first commercially available hydrogen fuel cell vehicles. In place of a traditional gasolinepowered engine, its fuel cell stack combines compressed hydrogen with oxygen from the surrounding ambient air to produce electricity to power the vehicle with water vapour being the only emission.

Each year consumers and industry players alike look forward to the chance to check out and show off the latest and greatest in the automotive world and like the concept cars of the future, this year’s show promises to be better than ever before.

TOP LEFT: AUDI R8 SPYDER. TOP RIGHT: 2018 FORD F-150. BOTTOM RIGHT: SUBARU’S NEW VIZIV-7 THREE-ROW CONCEPT SUV. BOTTOM LEFT: BENTLEY BENTAYGA MAKES ALPINE DEBUT IN KITZBUHEL. PHOTO SOURCE: AUDI AG, FORD MOTOR COMPANY, SUBARU OF AMERICA, INC. BENTLEY MOTORS.

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TOC

Page 1 - Avoiding Pain Page 4 - Learning from Hard Lessons Page 6 - BOMA Insider Page 8 - Real Estate Industry Back in Business

NEWS SPRING 2017

Avoiding Pain By Sandy McNair

H

Could Calgary’s current office market dilemma been avoided?

ow did this happen and could it have been avoided? Given the downturn in oil prices and energy sector activity, did office space availability need to climb to the current levels of 23.7 per cent citywide, 24.7 per cent downtown, and 19.9 per cent in the downtown central core class A market and 39.2 per cent for class B? Assuming, for the moment, no further contractions or recovery in demand for office space in 2017 and 2018, the completion of the 13 new office towers currently under construction citywide will increase availability a little more to 24.3 per cent citywide, 25.5 per cent downtown and 21.2 per cent in the downtown central core class A market. Enough questions. Let’s get to work on some context and answers. First we will look at demand and then supply. The chart below looks at availability over the past 15 years for the downtown core class A market. Significantly in 2005 and 2006, availability was stunningly low, at or near zero per cent for six quarters, and again for all four quarters of 2012 availability was less than two per cent. These extended periods of very tight office leasing markets compelled tenants, especially those with excellent access to capital and compelling expansion plans in B.C., Alberta, Saskatchewan, the U.S. or elsewhere, to lease more space than they needed immediately. Fear of

being unable to obtain office space in the future motivated tenants to lease space on a speculative basis, that is, in anticipation of future energy projects being approved. This speculative leasing of office space turbocharged an already strong leasing market. The downturn in oil prices and energy sector activity abruptly threw demand for office space into reverse. As the outlook darkened, headcounts were reduced and some of the previously occupied space was made available for sublease along with most of the space leased on a speculative basis. Currently 55 per cent of the downtown core class A space that is procurable is available on a sublet basis with an average of almost five years of term remaining which will further depress rents. Looking at supply, when presented with an offer to lease, supported by a very strong covenant, institutional investors who are feeling pressure to place capital will in most cases build. And build they did. Since the beginning of 2008 a total of 99 office buildings have been completed in Calgary that currently have an availability rate of 24.9 per cent, including 47 of them that have less than 10 per cent of their space available for lease, either direct or sublet. How much of this pain could have been avoided? If we had known the extent of speculative leasing would fewer buildings have been constructed? If we had tracked the

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Communications Committee Jon Holmes, Chair, Camfil Canada Inc. Leah Stewart, Sizeland Evans Interior Design Carly Chiasson, Bee Clean Building Maintenance Kelsey Johannson, TransCanada Corporation

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shadow vacancy – that is the number of people each employer could hire before they needed to lease more space – would that cause one, more or all developers to say ‘no’? Maybe, but probably not. When Calgary’s office leasing market finds the bottom and begins to recover, will tenants explore both existing buildings as well as triggering new construction? Eventually, they will. At that time, would it be important to know the condition of the overall market and each key segment, specifically how many more people can be hired before tenants need to lease more space? Yes – more fully informed decisions are most often better decisions with better outcomes.

Danielle Smith-Deveau, Strategic Group Aydan Aslan, BOMA Calgary

Board of Directors

CHAIR Chris Nasim, GWL Realty Advisors CHAIR-ELECT Lee Thiessen, MNP LLP SECRETARY TREASURER Richard Morden PAST CHAIR Ken Dixon, Strategic Group

SANDY MCNAIR IS THE DATA CURATOR OF ALTUS DATA SOLUTIONS, A DIVISION OF ALTUS GROUP. THE DATA TEAM CONSIST OF MORE THAN 50 FULL-TIME SUBJECT MATTER EXPERTS FOCUSED ON DATA EXCELLENCE. THE DEPTH, BREADTH, FRESHNESS AND RELEVANCE OF THE DATA EMPOWERS INTERNAL AND EXTERNAL CLIENTS TO MAKE SMARTER DECISIONS THAT IMPACT THE WAY THE REAL ESTATE INDUSTRY WORKS. SANDY.MCNAIR@ALTUSGROUP.COM

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Christine White, Oxford Properties Group

Directors

Dustin Engel, Alberta Infrastructure Jay de Nance, RioCan Management Inc. Steve Walton, Oxford Properties Group Todd Throndson, Avison Young Guy Priddle, Cadillac Fairview Marina Nagribianko, Allied REIT Rob Blackwell, Aspen Properties Art Skow, Bentall Kennedy Canada LP Laura Newcombe, GWL Realty Advisors

The Building Owners and Managers Association of Calgary publishes BOMA Calgary News quarterly. For advertising rates and information contact Business in Calgary. Publication of advertising should not be deemed as endorsement by BOMA Calgary. The publisher reserves the right in its sole and absolute discretion to reject any advertising at any time submitted by any party. Material contained herein does not necessarily reflect the opinion of BOMA Calgary, its members or its staff. © 2015 by BOMA Calgary. Printed in Canada.

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BOMA Calgary News is a co-publication of BOMA Calgary and Business in Calgary.

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BOMA Calgary News


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By Lloyd Suchet, Executive Director, BOMA Calgary

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Learning From Hard Lessons

to brainstorm ways to kick-start business activity in the core. While they should be commended for recognizing the challenges and emphasizing the importance of downtown businesses to our economy, this summit can only be seen as the beginning of a longer process, not a solution in itself. If economic diversification and business recruitment were easy tasks, we would have done it by now. We must also acknowledge Calgary has many businesses and industries outside of downtown that are hurting, and narrowly focusing on downtown risks losing sight of that. Calgary has competitive advantages that can make it an attractive place to relocate a business: strong transportation networks; a diverse population; a disproportionally young and educated workforce; and more small businesses per capita than any other city in the country. The things we love about Calgary are the very things that make it a great place to start, relocate or grow a business, and we would be well served by remembering this is true for all areas of the city. That being said, the summit does provide the opportunity to study and learn from the actions other cities took in the face of similar challenges. Calgary’s current situation is not as unique as we often think, and part of this introspection must include learning the hard lessons from those who got it right. So when BOMA Calgary works with the City of Calgary and Calgary Economic Development during the summit and beyond, we will emphasize the strengths of all sectors and quadrants of Calgary. We also have a vast network of commercial real estate professionals to tap LET US ANALYZE AND REPORT ON YOUR HOME, OFFICE into across the world through BOMA OR BUILDING WITH A COMPREHENSIVE ASSESSMENT! local associations, and can play a key role in bringing together those Our primary focus is indoor air quality; mould, asbestos, ideas and lessons. The good news is lead and hazardous materials. We are trying to make a that if we keep our focus and dedidifference in peoples lives by making their homes and cate ourselves to long-term thinking work places healthier and a safer environment. on these issues, the legacy of this downturn will be the catalyst for a 104, 6330 12 Street SE Calgary, AB | Toll Free: 855-668-3131 | dftechnical.ca stronger, more resilient economy.

he city sends out annual property assessments every January. This year’s assessments confirmed downtown Calgary has seen its property values decline, and at rates exceeding other areas of the city. This means the rest of the commercial tax base – primarily retail and suburban office properties – have to pick up a bigger share of the tab. While retail and suburban office properties values may have fared better than the rest, having them foot significant tax increases in these tough times to cover the difference is asking too much. City council recognized as much, and have capped the tax increases at five per cent for this year at a cost of $45 million. This is good news for many Calgary businesses, but is clearly only a short-term fix. In response to all of this, two councillors – Woolley and Farrell – have proposed a downtown economic summit

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BOMA Insider Welcome New BOMA Member Companies! TruSpace - Kathryn Thomson Calgary Economic Development - Leslie Shier Air Condition & Mechanical Maintenance Ltd - Chris Rucki Northwest Equipment – Dan McDiarmid Metro Glass Products Ltd – Mei Whyte Climate Control Services - John Gutowski Jones Lang LaSalle Real Estate Services - Ron Fiell Contava – Graham DeGagne

(L-R) Lloyd Suchet, Chris Nasim, Susan Henry and Aydan Aslan.

Haunted Building Tour hosted by Allied REIT team at the Lougheed Building.

The BOMA Golf Committee is presenting a cheque to the BOMA Calgary Foundation.

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(L-R) Chris Nasim, Deana Haley and Lloyd Suchet.


WEATHERING THE STORM RIGHT-SIZED MANAGEMENT FOR A DOWNSIZED MARKET A lot has changed in Calgary’s property management sector. With leasing activity going from white hot to stone cold, property owners have had to act decisively to weather the economic downturn.

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Changing times call for changes in the way you manage and maintain your real estate assets. That’s where we come in. Summit Property Group offers a no-frills, one-stop-shop approach to professionally manage and service all of your property needs. Summit’s fully integrated business model ensures a well-coordinated approach designed to contain costs without compromising the safety, security, and marketability of your property.

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845 – 24th Ave. S.E. Calgary, AB. T2G 1P6 Tel: (403) 536-2028 www.condo911.ca 7


By David Parker

M

Real Estate Industry Back in Business

aybe the light at the end of the tunnel is not an express train heading our way but a glimmer of hope for our real estate industry. Talking with our commercial real estate professionals who have had to spend a lot of time shuffling files, keeping lines of communication open, and thankfully renegotiating leases for clients, many are enjoying a feeling of being “back in business”; especially those working with national investment teams like Garry Beres, executive vice president at CBRE. Beres reported a record year in 2014 but following the downturn in 2015, business indeed started to slow. However, beginning in the second quarter of last year, buyers started trickling in and now Calgary is back on the radar and investment decisions are being made. One possible reason: real estate is so expensive and hard to find in Toronto and Vancouver. Industrial and retail have fared much better. Beres and his team at CBRE have completed (for Toronto investor Dream) the sale of 12 buildings totalling 1.5 million square feet in the downtown and beltline districts. They also recently completed the sale of Braithwaite Boyle Centre and are currently working on the sale of a portfolio of six more suburban office buildings for the same client. No question the office market in the downtown core is in a pretty sorry state compared to what owners have been used to, but there are encouraging signs of confidence emerging. David Routledge, vice president real estate management/west at Oxford Properties, reports its new 25-storey Eau Claire Tower is 91 per cent leased. In 2011, the two retail floors of the iconic four-tower Bow Valley Square office complex were totally renovated and now Oxford is busy with the first phase of its exterior remodelling. I notice several other office towers in the core are also having their street levels gussied up ensuring when things get a little better – as assuredly they will – tenants can be wooed with clean, modernized buildings. I look forward especially to the hoarding coming down to see the new facade of Aspen’s tower at the corner of 9th Avenue and 1st Street SW. That time can’t come soon enough.

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We need 40,000 more people working downtown to fill the 10 million square feet of vacant office space. Scary; and people and capital are portable so we’d better do what we can to keep those companies already here from straying. Having lunch in a mid-range downtown restaurant on a Thursday, I was very disappointed to see only a dozen others in the establishment. We need 40,000 more people working downtown to fill the 10 million square feet of vacant office space. Scary; and people and capital are portable so we’d better do what we can to keep those companies already here from straying. Calgary enjoys the benefit of being a very livable city but we seem to be shooting ourselves in the foot with constantly making it less attractive for business. Little wonder Rocky View and surrounding communities are booming with relocated Calgary companies; the area around CrossIron Mills is a no-brainer for industrial firms when they compare taxes, cost of land and the aggravation of finding their way through the bureaucracy of city hall. And one more shot at pride. We have the worst CFL stadium, grubby hockey arena, no iconic public art gallery and the smallest – by far – of this nation’s big-city convention centres. We cannot attract large conventions because we don’t have the facilities – and that’s a shame as attendees would help fill that restaurant at lunchtime as well as for dinner.


Leading Business MARCH 2017

IN THIS ISSUE... • Moving Onward with Ignite to Support Growth and Innovation • Meet Zoe Addington, the Calgary Chamber’s new Director of Policy and Government Affairs • Member Profiles

Rev

Calgary’s largest entrepreneurial growth conference May 11, 2017 - The Calgary Zoo Connect with the people, tools and resources to accelerate your business forward. For more information and to buy tickets go to RevYYC.com.

CalgaryChamber.com

BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // MARCH 2017

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2017 Board of

Directors

Moving Onward with Ignite to Support Growth and Innovation

Executive Chair: David Allen, Founder & President, Situated Co. Vice Chair: Phil Roberts, President, Vintri Technologies Inc Past Chair: Denis Painchaud, International Government Relations Treasurer: Wellington Holbrook, Chief Transformation Officer, ATB Financial CEO: Adam Legge, President and CEO, Calgary Chamber

Directors Linda Shea, Senior Vice-President, AltaLink Bill Brunton, Vice President, Habitat for Humanity, Southern Alberta Mike Williams, Executive Vice-President, Encana James Boettcher, Chief Idea Officer, Fiasco Gelato Brent Cooper, Partner, McLeod Law LLP Desirée Bombenon, President & CEO, SureCall Contact Centres Ltd Mandeep Singh, Audit Partner, Deloitte Jason Hatcher, Managing Principal, Navigator Greg Garcia, President and CEO, Calgary Elite Roofing Brian Bietz, President, Beitz Resources

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his past year, to support Calgary businesses during and after the downturn, the Calgary Chamber embarked on a new multi-year initiative called Onward.

The reality is the world has changed, and will continue to change. In an era of disruptive and global changes at a breathtaking pace, companies need to be creative, agile and adaptable to succeed and not be left behind. In order to capitalize on the changes of the new economy, the Chamber believes businesses need to focus on three main areas: innovation, productivity and new markets. Onward includes programming, ideas, events and advocacy focusing on these three pillars to provide Calgary businesses with the tools and resources to be successful and charge ahead. What does that mean? As part of the initiative, the Chamber recently launched a new program called Ignite. The Ignite program is a two-pronged approach, providing Chamber members with both practical outcomes and learning opportunities that support their growth and innovation initiatives. There are two streams of the program: the Innovation Primer Workshop Series and the Innovation Accelerator Program. For those looking for an opportunity to get a new product market ready quickly or looking to envision what adjacent possibilities may be available for current services – this program is designed to help do that, and fast. Based on a few self-assessment questions, interested companies can identify which stream they think best fits their growth goals and readiness to act.

Management Adam Legge – President and CEO Michael Andriescu – Director of Finance and Administration Kim Koss – Vice President, Business Development and Sponsorship Scott Crockatt – Director of Marketing and Communications Rebecca Wood – Director of Member Services Zoe Addington – Director of Policy, Research and Government Relations Leading Business magazine is a co-publication of the Calgary Chamber and Business in Calgary Calgary Chamber 600, 237 8th Avenue S.E. Calgary, Alberta T2G 5C3 Phone: (403) 750-0400 Fax: (403) 266-3413 calgarychamber.com

Innovation Primer Workshop Series This series is focused on companies interested in innovating their businesses, but are unsure about what direction to take. The workshop content will guide participants through an exploration of both their personal readiness to lead and their organization’s readiness to grow while at the same time learning about different innovation concepts and tools. By the end of this series, participants will have researched a few potential innovative ideas, identified how they wish to innovate and are prepared to move into the Innovation Accelerator Program to bring that idea to fruition. The innovation journey throughout the program could spark the next “big idea” with a new product or service, or generate improvements to processes that help build a better, stronger and more profitable company. Go to CalgaryChamber.com/Ignite for program start dates.

Innovation Accelerator Program The Innovation Accelerator is a 90-day sprint that radically moves companies forward to outpace their competition and innovate rapidly. It is geared towards second-stage growth-oriented businesses with the objective of supporting these businesses to bring an innovation idea from concept to reality. Two cohorts of 12 business owners per year are led by an innovator in residence and a team of international-quality experts, who take participants through a step-by-step process to reboot their business with innovation at their core.

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While other programs talk about spurring innovation, this program digs in and helps companies transform themselves – and in doing so accelerate their business success.

How it works Participants will attend six group sessions while completing and reporting their progress on self-assigned goals over the 12week period. The final objective is to have all companies set to launch their individual innovation execution plans by the end of the Innovation Accelerator Program. Ignite kicked off with a pilot version of the Innovation Accelerator Program in February with four companies: Tundra Process Solutions, Raven Bay Consulting, Hatsize

Learning Corporation, and BlitzPrint Self-Publishing and Book Manufacturing Services.

Program dates: Cohort 1: April 7 – June 23, 2017 Cohort 2: September 15 – December 1, 2017 The Chamber is looking for 12 qualified business owners to participate in the next two cohorts, which are filling up rapidly. To register go to CalgaryChamber.com/Ignite To find out more about either Ignite program streams, contact Johanna Clark at jclark@calgarychamber.com.

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Meet Zoe Addington, the Calgary Chamber’s New Director of Policy and Government Affairs

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n January, the Calgary Chamber was thrilled to welcome our newest member to the team, Zoe Addington as the director of policy and government affairs.

When asked, Addington says she is most excited to work with the Chamber membership to make a positive impact in helping businesses of all sizes to have a stronger voice than they might have on their own. In her role, Addington and her team will work to shape policy at all levels of government and advocate for the issues that are most important to the Calgary business community. Her team will be responsible for crafting policy recommendations that enhance the stability, ingenuity, productivity and competitiveness of Calgary business. “Now more than ever, the Calgary business community needs to work together and speak with a united voice, and they need a strong advocate in Ottawa, Edmonton and city hall,” says Addington. “Governments listen when business speaks with one voice.” With experience working in the federal and provincial government, private industry and academic sectors, Addington brings a wealth of business and political expertise. Growing up in Calgary, Addington started her career working in the IT sector in business development and project management. She had a unique opportunity to change careers and move to Ottawa, where she worked in progressively senior positions, including director of policy, in federal ministers’ offices at the department now known as Indigenous and Northern Affairs and at Industry Canada. Since moving back to Alberta, Addington has been at the forefront of policy taking on roles with the University of Calgary at the Canada School of Energy and Environment, at Canadian Natural Resources Inc. in public affairs, and as the deputy chief of staff and director of policy to the premier in 2014. Addington comes to the Chamber from her most recent role in government relations at one of Canada’s largest oil and gas producers, Cenovus Energy.

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Zoe Addington, director of policy and government affairs for the Calgary Chamber.

Addington studied at the University of Calgary where she obtained an MBA and two bachelor of arts degrees in political science, and Canadian and military history. She currently sits on the board of the Calgary Sexual Health Centre and is a member of Equal Voice, the Banff Forum Community and the Women’s Executive Network. In her spare time, Addington likes to trail run with her husky named Reilly.


AMVIC Licensed


Chamber Member Spotlights The Calgary Chamber is proud to represent many Calgary businesses large and small; this month we are highlighting some of our industry leading members.

Boardwalk Equities Inc. Boasting superior customer service, quality rental apartments and organizational pride, Boardwalk Rental Communities strives to be the friendliest apartment rental operator in Canada. With some of the best amenities available, such as pools, gyms and playgrounds, Boardwalk offers a wide variety of rental options from bachelor suites to three-bedroom apartments and town houses. Living in a Boardwalk apartment also means

Thanks The Chamber thanks the following long-standing member companies celebrating anniversaries this month for their years of support to the Calgary Chamber, and their commitment to the growth and development of Calgary.

Member name

Years as a member

Nexen Energy, A CNOOC Limited Company

50

Heritage Park Society

30

Alberta Beverage Container Recycling Corporation

20

Davies Park

20

Ryan Bannerman Associates

20

Metropolitan Conference Centre

20

Ametek Canada LP

15

Rockmount Financial Corporation

15

NATIONAL Public Relations Inc.

15

BNSF Logistics Canada, Inc.

10

Big Sky Call Centers Inc.

10

Payworks Inc.

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close proximity to schools, universities and public transit. Renters of an apartment from Boardwalk instantly become a part of a community. Boardwalk associates are committed to proudly doing their part in building stronger, friendlier and more respectful communities that engender a very real sense of family and belonging. For more information, visit BWalk.com.

Gabriella’s Kitchen Gabriella’s Kitchen is passionate about empowering everyone to nourish and celebrate healthy living, whether it is an individual on a restrictive diet, a parent looking for all-around healthy meals to put on the table or an athlete needing to refuel after a workout. With their original award-winning skinnypasta – a high-protein, low-calorie and low-carb fresh pasta – Gabriella’s Kitchen also offers vegan, gluten-free and other allergy-sensitive skinnypasta options that are made with highquality, nutrient-dense ingredients containing no GMOs, additives or preservatives. With three lines of skinnypasta available at stores across North America and online, Gabriella’s Kitchen is a leader in transforming the way the world eats by offering food with no compromises. For more information, visit GKSkinnypasta.com.

Scotiabank Scotiabank is Canada’s international bank and a leading financial services provider in North


America, Latin America, the Caribbean and Central America, and Asia-Pacific. They are dedicated to helping their 23 million customers through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. In Canada, Scotiabank provides a full suite of financial advice and banking solutions, supported by excellent customer service, to over 10 million retail, small business, commercial banking and wealth management customers. Scotiabank’s committed team is focused on their customers, and works together to provide them with the very best expert advice, insights and financial solutions. For more information, visit Scotiabank.com.

Nexen A CNOOC Limited Company This month, Nexen is celebrating 50 years as a Calgary Chamber member. Nexen is an upstream oil and gas company responsibly developing energy resources in the U.K. North Sea, offshore West Africa, the United States and Western Canada. A wholly-owned subsidiary of CNOOC Limited, Nexen has three principal businesses: conventional oil and gas, oilsands and shale gas/oil. The foundation of Nexen’s growth strategy is the energy and expertise of their employees, who are committed to working with integrity and engaging their stakeholders. For more information, visit NexenCnoocLtd.com.

TransAlta For over 100 years, TransAlta has supplied the electric power that has made progress and innovation in Alberta – and beyond. Today, TransAlta’s gas and renewables operations drive more than half of their revenues, making them Canada’s largest wind generator, as well as Alberta’s largest hydro operator. With operations across Canada, the U.S. and Australia, TransAlta takes great pride in supplying their customers with clean and affordable electricity, investing in new technologies, providing a positive and safe workplace for employees and investing in communities. Knowing the product they offer is vital to the economic success of the regions they serve, TransAlta is pleased to power new possibilities for their customers. For more information, visit TransAlta.com.

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Sunik Roofing Offers Homeowners Tips to Save Money

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isaster-prone, Alberta has seen increases to homeowners’ insurance. In 2012 Alberta had 62 per cent of Canada’s catastrophic insured losses at a cost of $2.4 billion and deductibles are rising exponentially. Sunik Roofing has seen deductibles as high as $2,500 per incident accompanied with increased premiums up to 20 per cent. With bad weather being inevitable, higher premiums and deductibles can be expected to keep growing. Southern Alberta is known as the “hail belt.” The question is not if the hail will come; it’s a matter of when the hail will come. And it will come! So, how can homeowners keep their insurance costs down? First, be diligent in researching policies. Sunik’s recommendation is to purchase insurance that has a replacement clause versus pro-rated (to divide, assess or distribute proportionally). For example, if a house has 30-year shingles that are 15 years old at the time of a storm, the cost of replacement could be staggering if a policy is pro-rated. The policy holder would only get half of the full value needed

www.sunik.com 403.280.2803

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MARCH 2017 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

for replacement, less the deductible. In summary, a $10,000 new roof, less half is $5,000 less the $2,000 deductible – the payout would be $3,000 to replace the same $10,000 roof. However, replacement policies offer exactly what is stated: full replacement regardless of the age, less the deductible. So on the same $10,000 roof, the insurance would cover $8,000 based on a $2,000 deductible. Many insurance companies offer a premium deduction for installing high-impact resistant materials (class 4). Most shingle distributors offer class 4 shingles and there is also high-impact resistant siding available. This is the very best choice to help keep costs down … no damage equals no claim. For those who have had the misfortune of replacing several roofs due to hail damage, it may be time to jump off the treadmill and choose to skip out on the next hail/windstorm by installing class 4 high-impact shingles and siding. Contact the professionals at sunik.com to help with that insurance claim.


Lynn Donaldson & Associates Rebrands as LD&A

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CREATIVE design-build firm has ince 1988, the family-owned delivered on excellence without fail, and now the second generation looks forward to delivering that same quality under the LD&A brand.

fabrication shop. His seven years of experience as a certified carpenter provided a natural fit for the team that focuses on core values and placing client’s need ahead of profits. An example of the firm’s innovation, and one of Neil’s favourite projects, was an eco-friendly home renovation. “A client wanted a net-zero home created VERSATILE through renovation,” says Neil. “That particular project took a lot of science, research and involved a lot of engineers. It took nearly three years for it all to come to fruition.” The client loved it and the firm is justifiably proud of this, and all the other specialized work it is known for.

Lynn Donaldson started the company in her basement with little more than her iron determination, a big dream, a solid education and the business savvy needed to make the company a success. Today teams of in-house interior designers, carpenters, custom cabinetmakers and project managers work together to fulfil the needs of each unique project. After growing the company from the ground up, Lynn is happy to watch her sons Neil Bailey, and CREATIVE construction manager Daryl Bailey, take the reins and CREATIVE further the LD&A brand.

LD&A has nine Consumer Choice Awards in the Best Interior Design firm category and the company earned a Business in Calgary Leaders award in 2016. Lynn has been named a W100 Top Female Entrepreneur twice over the course of her career and LD&A has a five-star rating on Houzz.

Ambitious and driven, Neil put together a team of CREATIVE carpenters and project managers, and assembled a VERSATILE VERSATILE

CREATIVE DILIGENT

Consistency, Quality, Craftsmanship Photo by Jean Perron Photography

VERSATILE ESTABLISHED

VERSATILE

SKILLED

DILIGENT DILIGENT ESTABLISHED ESTABLISHED

DILIGENT

ESTABLISHED

LYNN DONALDSON & ASSOCIATES D E SDILIGENT IGN AND

CONTRACTING

www.lynndonaldson.ca

ph:403•263•6296

SKILLED Renomark Member Master Renovator 4 Consumer Choice Awards 2008 - 2011 9 Consecutive Consumer Choice Awards 2008 - 2016

SKILLED

SKILLED

Come in and talk to us about your project!

Our showroom is open from Monday - Friday 8am - 4:30pm | www.prestigerailings.com “We’re passionate about bringing spaces to life. Together with you.”

ESTABLISHED

2777 Hopewell Place NE Calgary (403) 250-1020 • Toll Free: 1-800-382-8502 BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // MARCH 2017

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Mitigating Risk Entrepreneurs act with passion and emotion

Let’s Ask an EOer

By Melanie Darbyshire

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isks and risk taking are consistent and key elements of the drive and spirit of entrepreneurs. It’s a vital component of doing business. Most Calgary entrepreneurs agree the past two years of business in Calgary have been an added challenge. “As the owner of a business in Calgary for the past 20 years, I have experienced Alberta’s economic ups and downs,” says Shelly MacGregor, director of Calgary-based Apex Massage Therapy and a Calgary EO member. “The biggest risks are not knowing market share, overextending operational costs and not considering changes to taxes or government regulations.” Charles Maygard, owner and general manager of Calgary’s Armor Equipment and a Calgary EO member, explains that risk is a constant. “My job description includes three primary responsibilities: leader, visionary and risk manager. No matter what I am doing in my business, I am either taking risks by doing something, or taking risks by doing nothing. “There are only two things never worth risking no matter the reward: your family and your reputation.” Vikram Bakshi, president of Commonwealth Centre and a Calgary EO member, agrees. “The largest risk that entrepreneurs take is with their personal life. Entrepreneurs put lots of time into growing businesses, and that can directly impact their relationships with family and friends. “Business market risks can also be directly connected to the local economy. If the economy is struggling, it could mean less customers or tighter lending.” “Entrepreneurs tend to act with passion and emotion,” MacGregor cautions. “They are two things you definitely need,

but the single most important thing is to know your numbers. If you need help, source people or businesses to help you predict your costs, understand your payroll margins, understand the cost of debt and be financially ready to comply with changes to government regulations, such as increased minimum wages or increased taxation. “In today’s marketplace, many businesses could not have foreseen the increases to their leases or property taxes during this ‘recession.’ Some of the current risks we see as entrepreneurs are a direct result of the decisions of our current governments. The result is an increase in the hard costs to offer many services, while the margins for profit decrease.” Of the many variables and business risks, particularly when it comes to Alberta’s slowly recovering situation, the economy is the big risk to be managed. “The challenge is how fast the economy fluctuates up and down,” Bakshi notes. “For us, the best strategy is always planning and spending in a balanced way to what our business needs at the current time. We do not determine our hiring, spending, growth plans based on the redhot or ice-cold economy.” “I feel 2017 will be a dynamic year,” Maygard says with enthusiasm. “I don’t expect my general risk exposure to be any different than previous years, primarily because I don’t consider risk to be always congruent with market cycles. Entrepreneurs must be aware of internal factors, such as where the business is and what it’s capable of doing, as much as external factors: what the consumer, economy and your competition is doing.”

Contributing Members:

Upcoming Events:

Vikram Bakshi

Shelly MacGregor

Charles Maygard

president of Commonwealth Centre.

director of Calgary-based Apex Massage Therapy.

owner and general manager of Calgary’s Armor Equipment.

Mar 1

• Leadership Breakfast Series

Mar 2

• Developing the Economic Engine of your Business Workshop

Mar 9

• Dr. Pawan Agrawal-The Unheralded Masters of On-time Delivery

.

The international Entrepreneurs’ Organization (EO) is the respected, world-wide business networking group — with more than 10,000 members in 35 countries — where business leaders meet informally to brainstorm, compare notes, learn and share relevant discussions about business. EO has 122 chapters around the world, including the Calgary chapter which is the fifth largest and one of the most active EO chapters in the world.

www.eocalgary.com

|

For membership inquiries: membership@eocalgary.com


Photo by Micheal Cudjoe Photography Ltd.

Spalding Hardware Enjoys

65-Year Legacy

BY RENNAY CRAATS

I

t takes time to build a legacy. Since 1952, Spalding Hardware has been striving to do just that. Through hard work, dedication to customers and providing quality products, Spalding Hardware has established a solid reputation in the construction industry. Over the past 65 years, Spalding has evolved from builders and general hardware in Calgary and Edmonton into a high-tech

ASSA ABLOY would like to thank Spalding Hardware for 50 years of partnership and congratulations on your 65th Anniversary!

www.assaabloydss.ca

company that provides everything from doors and hardware to site assessments and access control. “You need to become full service,” says Ed Toy, executive vice president of Spalding Hardware. “That means selling the hardware, installing it, troubleshooting it and overall customer service.” Spalding has broadened its scope and changed its business model over the decades. When John Manes and Ed Toy joined the company in the early 1980s, one of their divisions provided general hardware supplies like sandpaper, screws and glue to lumber yards. With the introduction of the big-box stores, this became a less competitive enterprise so after the pair became owners, they looked at making significant changes. “We had an opportunity to buy the business in 1994. The economy wasn’t great and it was a bit of a risk – putting up our personal property to take that leap, but we did it. And I’m certainly glad that we did,” says John Manes, President and CEO of Spalding Hardware. As Manes and Toy took over the helm, they steered the ship in a different direction to reflect the needs of its customers and the changing industry. Within a few years, they shut down the general hardware division and transitioned those employees 1

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Photo by Smiley Eyes Photography

Joshua Manes – V.P. Operations, Calgary.

Photos by Micheal Cudjoe Photography Ltd.

John Manes – President & CEO, Calgary.

Ed Toy – Executive Vice President, Edmonton.

into something completely new. The aftermarket division complemented the construction side by providing service to customers over the life of that building. As clients’ needs have changed door and hardware components have worn out, the aftermarket division has been available to maintain the product and support the customer. This type of diversification has been key to helping Spalding Hardware ride out the several economic downturns it has experienced over the decades. This isn’t the only innovation the duo has introduced. The Calgary and Edmonton branches each has a showroom to showcase designer-driven product to professionals in the industry as well as to private customers looking for something unique for their custom home renovations and builds. Spalding also boasts an on-site fabrication shop in each city that allows them to do on-the-fly custom door and frame fabrication for smaller projects. “Every project needs something different so it’s not a cookie-cutter business for sure,” says Manes. In fact, the business is the furthest thing from cookie cutter. Today’s company has evolved beyond simply doors, a few hinges and a mechanical lock. The industry has become increasingly high-tech, and Spalding prides itself on staying abreast of the latest advancements in technology. The company offers the best in access control and automation technology and ensures the staff is well trained to support and install these products. As products have become more complicated, installation has become more complex. Gone are the days of a generalist being able to throw up a door during a build; now it is a specialized and technical process that requires skill and training. Clients look to the Spalding team to handle all the openings installations to ensure everything is wired and put in place properly. Technology and electronics are big components of today’s openings business. Products are geared toward providing security while continuing to meet the life safety and barrier-free code requirements. Spalding Hardware offers exit devices (or crash bars) that are designed to aid in evacuation in case of an emergency. These components light up and sound an alarm, either with sirens or a voice directing people toward the exit. The company also offers fire doors and hardware assemblies that help contain a fire and compartmentalize a building, which helps to protect first responders. The focus on security has also filtered into institutional buildings like schools. Spalding helps schools incorporate systems that protect students and teachers from an internal or external threat while ensuring they can still get out safely. 2 | 65 YEARS

SPALDING HARDWARE


Since 1989, we have worked closely with architects, designers and distributors to produce some of the most intricate architectural door hardware in the world.

Honoured to be a part of the Spalding Hardware team. Congratulations on your success over the past 65 years! We look forward to many more years of partnership. www.smhardware.com

sales@smhardware.com

3


Studio Bell, home of the National Music Centre. Photo by Jeremy Bittermann.

Spalding further accentuates security with the introduction of access controls into the door design. Different businesses have different needs, and Spalding doors can have card readers for access, automatic operators and sensors to ensure the openings function as they should. “The challenge is how to make different technologies work together and also meet fire code, meet security and be trouble-free for the owners,” says Toy. Trouble-free is Spalding’s specialty. All 50 of the knowledgeable professionals at the company live by the 65-year-old philosophy of providing the best customer service from start to finish and standing by their product, no questions asked. Their motto is “We give you peace of mind” and they deliver upon that promise by always being there to solve any challenge, whether that may be advice about which option makes the most sense in a space or fixing an issue with a component. Service has always been key, and it has remained consistent as Spalding enjoys very low employee turnover. Management offers flexibility to accommodate life-work balance and personal circumstances while promoting an atmosphere of respect and compassion that flows from the top down. In turn, employees respond with hard work, pride in their jobs and an investment in the success of every project. And as many employees have been with the company for more than 10 years, with some at 20 to 30 years, customers are confident the service and product at Spalding Hardware is stable and reliable. With such a high level of experience and expertise at Spalding, the company has established itself as a leader in the industry. The company’s professionals are sought out by architects for design assistance to help them figure out what is needed during the initial stages of the process. They are also consulted throughout the build to ensure any changes made still adhere to both the design and safety codes. Manes further assists architects by hosting “lunch and learns” to help them better understand the scope of this area of construction. His aim, though, is to educate, not to hawk product. “I’m not a salesman. I don’t go in with a bag of doorknobs that I want them to buy. I talk about the process and how you apply the best solution,” says Manes. After all, the business is all about finding the best solutions to problems. Spalding taps its network of quality suppliers, many of whom have worked with Spalding for several decades, to ensure customers have access to the best choices from the best products on the market. They determine exactly what customers need – whether that’s having a door with card access or sensors or security features – and present the best options to clients. Options, however, can be overwhelming, even for architects and contractors who work in the field. Spalding is happy to whittle it down to the most fitting products for the project, budget and requirements and allow clients to choose from there. And the result is a portfolio of fantastic projects. Spalding has been involved in several noteworthy projects in both Edmonton and Calgary. After the 2013 floods in Calgary, Spalding was called in to help get the Scotiabank Saddledome up and running 4 | 65 YEARS

SPALDING HARDWARE


Eighth Avenue Place. Photo by Jason Dziver.

“Hospitals really put all of our skills to work because they are very complex, specialty openings,” says Manes. Spalding was also responsible for developing the hardware and door security for Eighth Avenue Place in downtown Calgary, where they made sure components met code while enhancing the esthetics of the building. In Edmonton, Spalding completed the openings in the iconic Edmonton Federal Building renovation. They provided the hardware and security interfaces for the art deco building, taking pains to update it for function while allowing it to retain its historic character. The company also just completed one of the towers in the ICE district that is home to the City of Edmonton offices and is currently working on the new Centre for Performing Arts at Grant McEwan University.

again in an incredibly short time frame. Being the original supplier to the project, Spalding had all the information and expertise to hit the ground running and was able to seamlessly restore the doors, frames and hardware after the disaster. The South Health Campus in Calgary was another enormous undertaking with more than 5,000 openings that required card access doors, automatic doors and specialty products for OR suites and X-ray rooms. Spalding provided design-assist services to the architects and worked with the designers, engineers and end users to ensure the project met code as well as the client’s needs.

Even after 65 years, each project teaches the professionals at Spalding something and gives them motivation to continue to get better. It also motivates them to continue to build up and support the industry and the surrounding community. Manes has served as the president of both the American and Canadian arm of the Door and Hardware Institute and Spalding is also a member of the Calgary and Edmonton Construction Associations. With his focus on training and awareness of safe and secure buildings, Manes is also the current president of the non-profit organization the Door Security and Safety Foundation. Outside the industry, Spalding Hardware has supported various causes over the years including Renfrew Educational Services, Project Angel and Edmonton’s Ronald McDonald House through both product donations and fundraising support. While this year’s important milestone has given Manes and Toy an opportunity to look back on all they’ve accomplished in the industry and beyond, it is also a chance to look ahead at the future of Spalding Hardware.

The STANLEY family of brands is proud to be a part of Spalding Hardware’s success. We look forward to continuing to work together for many more years to come.

Congratulations on 65 years!

5


South Health Campus.

“We will be pushing in new processes, new ideas, new things that will help our customers and make us even more efficient,” says Toy. Spalding is working toward becoming a more lean company by streamlining its processes to minimize both environmental and time waste. Management is also involved in implementing lean thinking into the construction industry as a whole, and it uses its lean procedures to attempt to ferret out the inefficiencies in other stages of the job. At the same time the company is dedicated to continuing to provide the best, most advanced products on the market. Spalding is a leader in these areas and is always looking at ways to change how it does business in order to better serve customers. But even with all the changes it has experienced over the past 65 years, the company’s level of service and dedication is one thing that will never change. “If you keep your level of service above industry standard you’ll always be around,” says Toy. The next generation is poised to step in to ensure the company will indeed always be around and to protect the legacy that decades of hard work has built. The owners have spent more than three decades on day-to-day operations and are now stepping back and looking at succession planning. Manes and Toy are grooming Manes’ son Josh and a group of talented young managers to one day take over the responsibility of building the company and growing that legacy. They will be tasked with carrying on the high standards and strong relationships with suppliers, customers and staff into the future. “We wouldn’t have survived this long without our business partners – our customers and suppliers. We are looking at the next generation coming in and hopefully in the next 65 years we’ll continue to grow and be as relevant in the market as we are now,” says Toy. With its forward-thinking, amazing products and dedication to customers, there’s little doubt Spalding Hardware will be a leader in the industry for generations to come.

CALGARY: 1616 10th Avenue S.W. Calgary, Alberta. T3C 0J5 Phone: 1-800-837-0850 EDMONTON: 14531 121a Ave NW, Edmonton, Alberta. T5L 2T2 Phone: 1-800-837-0850

www.spaldinghardware.com 6 | 65 YEARS

SPALDING HARDWARE


High Security Locks

Daybar would like to thank Spalding Hardware for their continued support. Congratulations on your 65th Anniversary!

Commercial Steel Doors and Frames Congratulations to Spalding Hardware on their 65 year anniversary

Thank you to Spalding Hardware for 10 years of partnership and congratulations on your 65th Anniversary!

Steel Door Manufacturing Group www.apexindustries.com

Alberta Manufacturing 204 East Lake Blvd NE Airdrie, AB T4A 2G2

Congratulations Spalding Hardware on 65 Years! We wish you many more years of continued success.

Since 1963 Calgary – Edmonton

Toll free (855) 337-7776 KN Crowder

Introducing the KN Crowder Catch’N’Close System KN Crowder now offers the Catch’N’Close system to the Crowder Track line - sliding door kits and barn door hardware. Bouncing and slamming is no longer an issue for Crowder Track’s sliding doors.

Congratulations Spalding Hardware on 65 Years! We wish you many more years of continued Success!

(905) 315-9788 www.kncrowder.com SIM_Advert_CongratulationsSpaldingHardware65th_3.3125x2.3125zoll_RZ.indd 1

27.01.17 08:55

Congratulations on 65 years. We are proud to partner with Spalding to manage their cleaning needs.

The last cleaner you’ll ever hire! 403.319.0070 • www.jan-pro.ca 7


Anthony De Almeida, Chris Corriveau and Kevin Graham.

Photo by Michael Cudjoe Photography Ltd.

Stonewater Developments Making its Mark in Commercial Developments by Rennay Craats

CONGRATULATIONS STONEWATER DEVELOPMENTS!

FLOORS WE CAN BOTH BE PROUD OF. 403.255.8207 | hrd-wood@shaw.ca | heritagehardwood.ca

S

tonewater Developments was destined for success. Its sister company, Stonewater Homes, spent the past nearly 10 years paving the way. Since 2008, Stonewater Homes has been building high-end traditional and contemporary homes in some of Calgary’s most coveted neighbourhoods. Partners Kevin Graham and Chris Corriveau used their years of management and construction experience to grow Stonewater Homes into a well-respected builder of high-quality custom homes, and last year they expanded the operation to include commercial projects with the introduction of Stonewater Developments. “It would be tough to open a business with no track record and no credibility. Stonewater Homes has an excellent name so we’ve just mirrored it on the commercial side,” says Anthony De Almeida, chief operating officer of Stonewater Developments. Starting out in a time when the Alberta economy was uncertain at best, this one-year anniversary is a real accomplishment. Despite the economy, the staff at Stonewater says there is plenty to celebrate. They recognized the opportunity for commercial work in the province, as many of their clients on the residential side were looking for an exceptional builder to help with their professional property needs as well. Stonewater Developments was awarded some great contracts right out of the gate which has opened the door for other opportunities. Management is excited to build on the success of both the homes and the developments divisions by taking on new projects that apply their philosophy of service and quality. Stonewater Developments • 1

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In just one year, Stonewater Developments has proven itself a leader in many commercial areas including hospitality, medical, multifamily developments and retail. Stonewater recently worked on a major renovations project with a large hotel chain in Alberta and Saskatchewan that involved everything from interiors to swimming pools and stucco. The company has also made its mark in the medical field, working on new and renovated clinics and spas.

management. Theirs is a policy of full disclosure and openness. The team presents clients with trade and material costs for the project, the best options for any situation, and invoices to keep people apprised of progress every step of the way. They also create realistic timelines and stick to those schedules. After all, they know that every day the doors are closed costs clients money so they employ multiple shifts to minimize downtime.

Clients in all areas appreciate Stonewater’s approach as much as they do the impressive end result. Stonewater Developments adheres to an upfront, honest philosophy toward business

“Upfront planning, communication and managing client expectations effectively is the main reason why we are able to finish these jobs on time and on budget,” De Almeida says. And he is proud of the company’s ability to deliver on its promises. No matter what clients need, Stonewater is available to help. The team’s breadth and years of experience provide a unique perspective that can make a project run smoother while saving clients money. “We want to do whatever the client wants but we have been around long enough to know what will work and what won’t and what’s most cost effective. It’s not just about getting a product out or getting a business open. It’s about doing it the right way,” says Chris Corriveau, president of Stonewater Developments. The team can manage a client’s existing design or start the process from the beginning by connecting them with one of

Asbestos Removal, Demolition, Excavation, Fire Cleanup, House Removal Clean-up.

Congratulations Stonewater Developments!

3 Generations of Demolition & Excavating Experts.

Congratulations

Stonewater Developments!

We are proud to be a part of your success. 5470 – 53rd Street SE Calgary, AB T2C 4B6 • T: (403) 804-3115 F: (403) 570-1447 • inquiries@bobwallaceexcavating.com

BOBWALLACEEXCAVATING.CA 2 • Stonewater Developments

#8002 – 11500, 35th Street SE

403-279-4448 classicfireplace.com


Congratulations to Stonewater Developments! We wish you many years of continued success.

10510 – 46th Street S.E. • 403-238-1100

pacificstone.ca @pacificstonefabrication

Serving Calgary and Western Canada for over 30 Years

We’re proud to work with Stonewater Developments in the launch of their commercial division! D o i n g t h i n g s d i f fe r e n t l y fo r t h e s a k e o f b e i n g b e t t e r.

We are honored to reflect and support Stonewater Developments high standards as their preferred A/V Systems Integrator for Audio, Video, Network, Security/CCTV & Automation Services.

Congratulations on the opening of your Commercial Division.

Visit our showroom to experience the latest, award winning technologies for enhancing your lifestyle

5740 1A Street SW • 403-290-0440 www.highdeftech.com 605 11 Ave SW #200, Calgary, AB T2R 0E1 Phone: (403) 718-9877 • www.duplooylaw.com

Congratulations to Stonewater Developments on the launch of your commecial division! We wish you great success in your new endeavours.

www.kellamberg.com Office (403) 640-0900 | 5800 - 1A Street S.W., Calgary, AB, T2H 0G1 Stonewater Developments • 3


Stonewater’s architectural and design partners. Then they can work through the entire process with them, step by step. By creating the schedules, obtaining permits, ensuring everything adheres to code, estimating costs, acquiring the right subcontractors for the job and offering financial options if necessary, Stonewater’s project managers make the process hassle-free for clients. Both in the office and onsite, Stonewater’s highly-trained staff and partners provide quality service on every project. They are professional, accountable and efficient, staying at the forefront of technology to ensure they are giving customers the best possible product. And the company’s dedication to customer satisfaction shines through in every step of the process. Going the extra mile for customers has helped establish Stonewater’s reputation in commercial construction, and the attention to detail has not gone unnoticed. Word-ofmouth recommendations attract new clients while positive experiences for existing clients keep the fledgling company on speed dial for future projects. In fact, about 70 per cent of projects come from repeat clients. As a boutique developer, Stonewater makes sure to cultivate strong relationships with clients, investing the time to get to know them and their needs to guarantee satisfaction. “It’s all about relationship building and reputation. Stonewater Homes has never wavered from quality and consistency, and we’ve continued that in the commercial side. That’s what brings people back. People want to deal with a trusted company,” says Kevin Graham, president of Stonewater Homes.

Being trusted means providing quality craftsmanship at a fair price, having good communication throughout a project and standing behind the product. A builder can’t do that alone. It’s only possible with solid relationships in the industry. Stonewater Homes has spent years aligning itself with the best in the business, developing a network of quality professionals, trades and subcontractors. Now Stonewater Developments can benefit from these efforts by sharing access to these tried-andtested partners for its own projects as well. As it enters its second year, Stonewater Developments continues to bring in new clients and tackle new and challenging projects. Besides servicing Alberta clients, management is looking at expanding into development projects in the United States as well. “We’ve decided to move to the next level and we’re exploring other opportunities,” De Almeida says. With a successful freshman year under its belt, Stonewater Developments is confident that 2017 will be another great year filled with opportunities and growth.

9504 Horton Rd SW Calgary, AB T2V 2X4 Ph 403.287.1100 • F 403.287.1166 www.stonewaterdev.com Silhouette® window shadings

Congratulations to the Stonewater Team!

Total Concept Wiring is proud to be a partner!

Window fashions that have every style covered.

Celebrating our 10th Anniversary! 109, 5126, 126 Avenue SE Calgary, AB • 403-236-9191 www.totalconceptwiring.com

4 • Stonewater Developments

Concept Coverings Inc. 109-5126 126 Ave SE 403-236-9191 www.conceptcoverings.com ©2017 Hunter Douglas. All rights reserved. All trademarks used herein are the property of Hunter Douglas or their respective owners.4265418


DEC Board of Directors and Management Team from left to right: Danny Way, Ana Medina, Brent Harris, Anouk Kendall, Christine Schuh, Randy Thompson and Rafal Krzywicki. Missing: Raymond McKay, Dominic Roser, Jan Buijk, Garth Frizzell, Michael Ross, Cindy de Peuter and Sharada Gollu.

DECENTRALISED ENERGY CANADA

CELEBRATING 15 YEARS

The Little Association that Could by Rennay Craats -

I

n 2001, when Anouk Kendall returned to Canada after seven years in the U.K. conducting post-graduate research into opportunities for renewable energy and implementing residential energy conservation programs for U.K. local government, she realized something: Europe was eons ahead in developing a low carbon economy and she was trained in areas no one was pursuing at home. While she tried to figure out what to do for work, she was invited to participate in a workshop about whether Alberta needed an industry association dedicated to decentralised energy (DE), that is energy that is produced, managed and consumed close to the end user. “Nearly 100 energy professionals attending the workshop unanimously agreed, yes. It’s important. It’s the future,” says

Photos by PhotoArt4U - Zev Vitaly Abosh

Kendall, founding president of Decentralised Energy Canada. “I put my name in the hat for the job and the rest is history.” That workshop marked the beginning of an industry movement that has been challenging yet rewarding. What triggered the conversation about a DE association in the first place was the deregulation of electricity markets in 2001. This created an opportunity for decentralised energy solutions to reduce energy costs, emissions and system losses while at the same time diversifying Alberta’s economy. A group of stakeholders seized this opportunity and established the industry association in 2002. Decentralised Energy Canada (DEC) connects and supports DE businesses and accelerates the paradigm shift from carbon-intensive, centralised energy to low-carbon, decentralised energy.

D e c e n t r a l i s e d E n e r g y C a n a d a • 1 5 Ye a r s 89


Kendall discovered that in fossil fuel-rich Alberta, this was a tough sell. “Alberta had the skills and expertise and knowledge to drive this nascent decentralised energy industry but there was no pressure to do it,” she says. Industry was unfamiliar with small energy generation (less than 50 MW) and little attention was paid to emissions in the province. So what was initially an Alberta-based association was expanded nationally to leverage the efforts of other provinces in areas like feed tariffs, net metering and standard offer programs. While many DEC members are in Alberta, the association has active members in six other provinces and territories. For 15 years, DEC has built an impressive network and a foundation of industry knowledge and expertise. To meet industry needs, DEC brings together all of the players involved in the industry, from technology developers to customers and investors. It offers general member benefits including networking events, industry information and government briefings as well as specialized support to help mitigate project risks and commercialization challenges. To offer this level of knowledge and expertise, the association has a team of leading authorities that can advise on project viability, climate regulations, carbon markets and project economics. There are nine people involved in running DEC but it’s a 3.5 full-time equivalent running on a budget of less than $500,000 per year. One-third of the revenue comes from membership fees, one-third from fee for service and one-third from metric-based program funding. Receiving no core funding from governments means DEC is a lean entity that has to think outside the box. “With our limited budget, we have to be creative about how we achieve our objectives so the collaboration piece is really important,” Kendall says. DEC has 22 collaborative partnerships sharing resources on various joint initiatives. It enjoys a seamless flow of

information and client sharing between the National Research Council’s IRAP staff, CETAC-West and Alberta Innovates. This one-stop support makes it possible to help more DE companies succeed without breaking the bank. The association has also benefited from internships and temporary placements. These professionals shoulder some of the workload in exchange for experience in the industry and exposure to DEC’s network. To further protect the meagre budget, Alberta Innovates provides DEC with office space, McInnes Cooper provides legal services, and a partnership with CTV Two provides an affordable platform for DEC members to share success stories on prime-time television, reaching 98 per cent of Alberta homes. After all, there is a lot to talk about. DEC’s 65 members represent more than $25.7 billion of revenue and amounts to a network of more than 10,000 businesses, suppliers and professional service providers. Members range from large utilities like ENMAX and EQUS REA to post-secondary institutions like Lakeland College, University of Calgary and SAIT to end users like the City of Edmonton and the Town of Black Diamond. Not surprisingly, more than half of the members are SME technology providers and project developers like Eguana Technologies, NuEnergy, Kineticor and EPS AB Energy Canada. Access to such incredible companies is truly a benefit of membership. “Our network is our most valuable asset,” says Ana Medina, director, stakeholder relations and communications. DEC offers networking for members to connect and discuss challenges and opportunities in the industry through informal get-togethers as well as large conferences and initiatives. Nearly 2,000 people attended the 2011 Global Clean Energy Congress in Calgary while nearly 10,000 people attended 200 sustainable energy project tours at the 2016 Green Energy Doors Open in Ontario, Alberta and B.C. DEC understands that it is part of a greater whole and by collaborating with the Ontario Sustainable Energy Association (OSEA) and the

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D e c e n t r a l i s e d E n e r g y C a n a d a • 1 5 Ye a r s • 2

25/01/17 12:05


DISTRICT ENERGY COMBINED HEAT AND POWER

SOLAR

THREE WAYS WE THINK THE FUTURE LOOKS EVEN BETTER Thank you Decentralised Energy Canada for helping bring new energy to Alberta Alternative ways to heat and power our businesses is a hot topic today, but it’s been top-of-mind with us for over two decades. Our district energy, solar and combined heat and power technologies are already offering real alternatives for Alberta businesses looking to take a lead with their energy. And, we’re exploring the role innovations in wind and energy storage will play in the future. To see how your business can experience new energy, please get in touch with our team.

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British Columbia Sustainable Energy Association (BCSEA), the association has leveraged these combined resources reaching new markets and energizing the industry. DEC has helped build serious industry momentum. In recent years more focus on sustainability and affordability has shone a light on the merits of decentralised energy. Government is seeking input about how to move forward in the area, and DEC is happy to oblige. With the help of its members, DEC submitted five industry briefings to federal and regional government with recommendations related to training and retooling for a transitioning workforce, improved access to information about the benefits of DE, promoting shovel-ready projects, creating an enhanced export market policy, and establishing standardized DE regulations.

“This year is going to be a big year for us. Huge growth, lots of projects and different challenges and opportunities,” says Kendall. With changes in market structure and regulations and burgeoning investment opportunities, DEC is in a great position to continue to advise government and assist members with projects that will further advance the decentralised energy industry in the years to come. Decentralised Energy Canada 3608 33 Street NW C a l g a r y, A l b e r t a T 2 L 2 A 6 info@deassociation.ca 403 210 5374 deassociation.ca

DEC has been an admirable partner in helping ensure the future of Alberta’s utility industry. We are honoured to celebrate this milestone with you.

We deliver safe and reliable power to rural Albertans.

Learn more about the EQUS advantage at www.equs.ca

D e c e n t r a l i s e d E n e r g y C a n a d a • 1 5 Ye a r s • 4


Tetra Tech

Evolves

After pioneering in the industry for 50 years, Tetra Tech takes its next leap forward. By Nerissa McNaughton

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etra Tech, Inc. was founded in 1966 to provide engineering services related to waterways, harbours and coastal areas. For 50 years, the company has substantially increased the size and scope of its business and expanded its service offerings through a series of strategic acquisitions and internal growth. Today, Tetra Tech is a leading provider of consulting, engineering, program management, construction management and technical services. From its start, Tetra Tech has attracted the best and brightest minds in science and engineering, and it has always focused on bringing innovative solutions to its clients’ most complex needs. This focus, along with the quality of the Tetra Tech team, has grown the company to 16,000 employees located in 400 offices worldwide. Tetra Tech also employs more than 3,500 experts in Canada that work with a project from inception to the close of its lifecycle, from 50 offices across the nation.

As Tetra Tech expanded, so too did the company’s capabilities. “Tetra Tech has unique abilities in Canada’s water, environmental, energy, infrastructure, oil and gas and mining sectors,” notes Bernie Teufele, P.Eng. Tetra Tech Canada’s president. “Our innovations and specialized work in all regions of Canada include major cities, such as Edmonton, Calgary, Winnipeg, Regina, Saskatoon, Vancouver and Montreal, as well as the more challenging environments of the Yukon and Northwest Territories. We help contribute to the vital infrastructure of the country through the development and improvements in roads and bridges; electrical and wind power facilities; oil and gas; ports and harbours; water and wastewater facilities; and municipal, industrial, and waste management infrastructure.” “Our motto is Lead with Science, and we are true to that,” says Teufele. “We bring world-class expertise to

Tetra Tech • 50 Years

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Geotechnical Investigation, Arctic

Rock slope stabilization at Mayo in the Yukon.

Trans Canada Highway Slope Re-profiling. Yoho National park, BC.

Rock Catch Fence at Hoffman’s Bluff, just west of Chase, BC

our local environments as well as exporting our local expertise to projects across Canada and around the world. Since 1966, Tetra Tech has been leading with science to address our clients’ most complex needs. Our mission is to be the premier worldwide consulting, engineering and construction firm.” “Tetra Tech’s head office is in Pasadena, California,” explains Teufele. “In Canada, Tetra Tech is made up from the several companies that merged under the Tetra Tech name. The companies that came together under the Tetra Tech banner include several longstanding and well-established firms in the western Canadian technical consulting landscape, including Wardrop Engineering Inc. (founded in 1955), EBA Engineering Consultants Ltd. (founded in 1966), Fransen Engineering Ltd. (founded in 1980) and BNG and Caber Engineering Inc. (founded over 40 years ago). Tetra Tech pulled together the client-focused aspect of these highly technical industry leaders to create the company’s presence in Canada.”

On January 1, 2017, the company underwent an evolution by amalgamating several of the different Tetra Tech companies in Canada to become the basis of Tetra Tech Canada Inc. Teufele explains, “The amalgamation simplifies some of our internal business practices, but most importantly, it allows us to serve our clients with a much greater depth and capacity. We are much better positioned to take on projects of increasing size and complexity.” In 2016, Tetra Tech was involved in 14 of Canada’s Top 100 largest projects, illustrating its role as a significant player in the delivery of major infrastructure projects throughout the nation. Notable projects include the Turcot Interchange in Montreal, the Disraeli Bridge in Winnipeg, the North Commuter Parkway in Saskatoon, the Edmonton and Calgary Ring Roads and the major Alberta trade corridors, all of the LRT projects in greater Vancouver, the Site C Hydro project in British Columbia and the MacKenzie Valley Highway in the Northwest Territories.

Tetra Tech • 50 Years


Haul truck in the Pit at the Santa Elena Mine in Mexico.

Some of Tetra Tech’s unique capabilities include geotechnical engineering, hydrological modelling, asset management, road and rail data collection, emergency spill response, disaster recovery, ice road engineering, climate change services and carbon emissions reduction to name a few. With 50 years in the industry, Tetra Tech has a bird’s-eye view of some of the industries challenging trends. While the softening of some of the company’s key markets (mining, and energy) has had the company achieving a balance between work environment and cost cutting measures, an ongoing concern is the “cost-first approach,” which can undermine the integrity of the project – which is why Tetra Tech always focuses on doing the job right, not on cutting corners and turning in the lowest bid. “We understand that price needs to be a component of our work; however, we are seeing unhealthy competition that will only lead to reduced quality and service in our industry,” says Teufele with concern. “Many industry studies show that

the cost of cheap engineering is paid for somewhere else. Pay now or pay later. There is a price for poor workmanship and poor engineering. Our challenge is to show our clients the value they get from engaging qualified consultants to support their projects, and even more importantly, delivering on that value proposition. Thankfully, we still have many of those clients that understand the value of Qualifications Based Selection (QBS) and it is slowly gaining traction in our various market sectors. Tetra Tech was founded on providing the highest quality service, and its teams across Canada enjoy the projects and client interaction. “Working with clients to find solutions to their most interesting and complex problems is very rewarding,” smiles Teufele. “There is nothing more gratifying than the successful completion of a project after working with a knowledgeable client to find solutions to their challenges. We are at our best when we operate as an extension of our

Tetra Tech • 50 Years


7 Mile Hill Wind Farm. Hanna, WY, USA.

clients’ own resources. Through our technical and project management expertise, we love the projects that let us think out of the box to find ways to help solve the problems that keep our clients awake at 3:00 a.m.! Tetra Tech is a unique company of technical and project management staff that are hardwired to find solutions and deliver results.” Tetra Tech invests in its staff, clients, and the community. For more than 10 years, the company has supported Partners in the Horn of Africa, to empower local communities in Ethiopia to build key community infrastructure, it has raised tens of thousands of dollars for the United Way, supports Engineers Without Borders and has assisted local events and charities with time, money and resources.

“[We will continue to] find ways for our clients to succeed,” concludes Teufele. “If we can help the growth and success of our clients, we hope we can take part in their success through trusted client relationships to give us greater opportunities to expand our own services and geographic presence. This will also provide our staff with the kind of opportunities and challenges they want in their own careers. We look forward to expanding our services into new market areas, such as solid waste, leveraging up Tetra Tech’s global strength in water, and building a strong practice in western Canada to support industry demands.” For 50 years, Tetra Tech has helped to grow and support the nation. The next 50 sees the company continuing to make sustainable impacts that improve Canadians’ quality of life.

In recognition of Tetra Tech’s client-focused expertise, the company is proud to have received numerous awards through the Association of Consulting Engineering Companies (ACEC) awards, and to have been ranked No. 1 for 13 consecutive years on one of Engineering News-Record’s (ENR) annual lists, among many other recognitions. Half a century has passed for the company, but it’s a great big world out there with many more engineering puzzles to solve – and Tetra Tech couldn’t be more excited about that. Tetra Tech • 50 Years

www.tetratech.com


SUPPORTING NEW DIRECTIONS AND DIMENSIONS FOR MEETINGS

Twitter, Facebook, Skype, Instagram, live streaming, virtual reality and augmented reality. A decade ago, such digital technology barely existed. Today, it thrives—especially in the world of meetings and conventions. So much so that the Professional Convention Management Association (PCMA) recently unveiled the Digital Experience Institute. With support from Meetings + Conventions Calgary (MCC), the institute offers meeting organizers a 25-hour Digital Event Strategists Certification in planning, producing and measuring events. “Event organizers and attendees alike are now comfortable using digital technology. It broadens the experience and reach of their face-to-face meetings,” says Heather Lundy, MCC’s director, Marketing + Communications.

conference, 1,400 plus participants attended online and 46 per cent of them spent 6 plus hours streaming the conference. “It demonstrates that people want to be more engaged and want to learn more about what they’re seeing and hearing,” Kingen Kush says. And it squashes the stereotype that a roomful full of people on smart phones and tablets are distracted. To the contrary, Kingen Kush says. Customized and strategically aligned digital technology is a powerful way to engage and educate people. And the growing demand and accessibility of digital technology are making it more available and attainable. As well, early predictions that digital technology would “cannibalize” face-to-face meetings have never materialized.

“Calgary has been visionary in technology and innovation,” says Jennifer Kingen Kush, the executive director of the Digital Experience Institute.

“Digital technology helps organizers grow their events because you can bring in speakers and attendees from locations around the world,” Kingen Kush says.

She says companies, brands and industries across the globe are using digital technology because it’s a way to increase the “pipeline” of information they want to share with their audiences. At a recent PCMA

For more information on using digital technology at your meetings and events, contact the Calgary TELUS Convention Centre at 403.261.8500 or sales@calgary-convention.com.

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Opportunity Blowing in the Wind for Renewables in Calgary BY STEPHEN EWART

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om Lambert sees opportunity blowing in the wind.

And when companies are assessing where to develop wind power projects, they routinely turn to the Windographer software developed by the Calgary engineer to forecast the amount of energy likely to be produced at a location. There’s a world-class wind resource in Alberta and Lambert created a wind power modelling product. In just over a decade, Windographer has become an industry-standard sold in over 70 countries to generate clean, low-cost electricity. “Everyone in wind is gathering the same kind of data,” Lambert says. “It struck me as curious that there didn’t seem to be any type of software tailored to the process of analyzing that data.” He built the software into a little-known Calgary success story. “With timing and luck, we were able to make that product into one that was the pre-eminent software of its type in the world,” he says. Two years ago, he sold the Windographer software to AWS Truepower, a global renewable energy consulting and engineering firm, and still works for the company in Calgary as technical director of information services. While Calgary is known for developing oil and gas, Lambert says there’s a “surprising community” of renewable energy businesses and the election of an NDP government in 2015 has buffeted the wind industry.

“It is exciting that the current government is taking climate change seriously,” he says. In September, Alberta set a target for 30 per cent of the province’s electricity to be generated from renewable sources – wind, hydro, solar, etc. – by 2030. “The opportunities for growth here are quite large,” says Evan Wilson of the Canadian Wind Energy Association. “People are taking notice.” The government forecasts the transition will generate over $10 billion in economic activity and create jobs and development opportunities throughout the province. Stephen Ewart is communications and content manager for Calgary Economic Development. ABOVE: TOM LAMBERT. PHOTO SOURCE: DAVID BUSTON

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Calgary White Hat Awards Celebrate Milestone Anniversary BE SURE TO GET YOUR TICKETS TO THE BIG EVENT

BY CASSANDRA MCAULEY

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n May 17, 2017, Tourism Calgary will host the 55th annual Calgary White Hat Awards, an evening dedicated to celebrating excellence in customer service. Calgarians are known for being great hosts, as demonstrated through our genuine warmth and friendliness. Couple our welcoming nature with the white Smithbilt hat – Calgary’s lasting symbol for our city and legendary western hospitality – and you have the coveted Calgary White Hat Awards. Since 1961, the Calgary White Hat Awards have been one of the most unique tributes to outstanding customer service in the world. Presented to tourism and hospitality industry employees who offer outstanding customer service, the awards honour individuals who have excelled in leadership and performance in 20 different categories. Each year, Calgary welcomes over eight million visitors who contribute approximately $1.7 billion to the local economy through visitor spending. These numbers, and our pursuit to attract even more visitors, highlights the importance of exceptional service and hospitality. This year, more than 650 White Hat Award nominations were accepted, submitted by guests, co-workers or managers of individuals in the service industry who have direct, daily contact with visitors, customers and guests. The nominees distinguished themselves by promoting Calgary through exemplary customer service. All nominees were invited to interview with industry professionals who evaluated the candidates according to a pre-established adjudication system. Nominees were assessed on their enthusiasm, professionalism and dedication to tourism. Final scores are being tabulated and verified by a third-party auditor, before being

reviewed by members of the Calgary White Hat Awards nomination committee. With 26 categories that recognize a variety of hospitality and tourism professionals from exceptional server, to exceptional front-line retail professional to exceptional ground transportation driver, the White Hat Awards are a true recognition of the hard-working people who make significant contributions to Calgary’s standing as a great place to visit and to live. The annual event at the Southern Alberta Jubilee Auditorium is unlike any other. The unmatched energy and enthusiasm for those who make our city great brings about a boisterous and fun Calgary-focused night. Tickets for the big event will go on sale in April and everyone is invited. To learn more about the Calgary White Hat Awards, and for details about purchasing tickets, see visitcalgary.com.

ABOVE: CALGARY WHITE HAT AWARDS.

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Kinetica Innovation Centre at SAIT BY KERRI SAVAGE

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lean energy technology innovators will benefit from a new partnership between the Southern Alberta Institute of Technology (SAIT), Innovate Calgary and the University of Calgary with the creation of an impressive prototype facility and supporting programs. The Kinetica Innovation Centre at SAIT (KICS) is designed to accelerate the most promising clean energy technologies using a costeffective and collaborative approach. “KICS allows innovators in southern Alberta to take the next step by providing economical bench space, a project planning framework, and access to SAIT’s world-class facilities and talent as well as Innovate Calgary’s entrepreneurial programs,” explains Peter Zyla, KICS program manager. The 2,200-square-foot KICS facility is located on the SAIT campus and offers coworking space, including a combination of wet and mechanical labs, where researchers can design, prototype and test their clean energy technologies. KICS participants physically move in to the coworking space and take advantage of the state-of-the-art testing and fabrication facilities on site. The space can accommodate up to eight research teams of two to three people each, and participants must go through an application process to be considered for the program and issued a lease in the facility. “We are seeking innovators from both post-secondary institutions and the community who have demonstrated market potential and are ready to build a prototype,” says Zyla. The KICS program follows robust methods to help develop a prototype and clients are further supported by monthly meetings, allowing for issue resolution and updates to project plans. For more information about KICS or to apply for space, contact Peter Zyla, KICS program manager, at pzyla@ innovatecalgary.com or 587-582-3713.

To learn more about Innovate Calgary and how it supports new and emerging technology, visit innovatecalgary.com. TOP: THE ALDRED CENTRE AT SAIT PHOTO SOURCE: NICOLE DUNSDON

MIDDLE AND BOTTOM: THE LAB INTERIOR PHOTO SOURCE: PETER ZYLA

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Spark success at the centre of energy.

FOR MORE INFORMATION VISIT:

calgary-convention.com


MARKETING MATTERS // DAVID PARKER

Marketing Matters BY DAVID PARKER

T

odd Fraser figured the best way to celebrate the 20th anniversary of his Tandem Marketing Design was with a good craft beer.

And he did just that recognizing the milestone with Tool Shed and Arrowhead Breweries on a promotion – 20 Years 20 Beers – as a way of saying thank you to clients and friends. For most of those years Tandem has been located at the corner of 2nd Street and 17th Avenue SW and has benefited by associations almost as long with loyal clients like Remington Development Corporation. As its agency of record, Fraser says it’s been a privilege to work on Remington’s classy developments like its hugely successful Quarry Park. One of the tenants there, GrainCorp, is a Tandem client. Fraser’s team is helping with numerous marketing and sales projects as it constructs new grain-handling and storage facilities. Newer accounts include software startup Fresnel Software, who Tandem is assisting to establish its brand and develop an advertising program for its Fiber To The Home (FTTH) optimization software. Another is Practicar that is franchising its disruptive car rental in a box solution for existing retail and automotive sector businesses.

Lana Rogers PR + Media Consulting was only founded about a year ago but Rogers has already built up a great roster of clients. A number are in the restaurant business including notables like Model Milk, Native Tongues Taqueria, Ten Foot Henry and Pigeonhole. Rogers is also handling PR for TreeEra and YYC Storage, a self-storage company offering a free pick-up service.

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This month she will use her event planning talents to organize a launch party for the $2-million-plus sub-penthouse in the second tower of the Guardian in Victoria Park.

“We value Brookline’s strategic and creative public relations efforts to help us solidify Edo’s reputation as one of Canada’s top quick-service restaurants,” says Dave Minnett, president and CEO of Edo Japan in announcing the PR firm has been signed to a record seventh consecutive year as agency of record.

When I called Daughter Creative, the three partners – creative director Stephanie Kochorek, designer/art director Jonathan Herman, and director client services Jill Dewes – were on their way to a client meeting with Swimco. On the same day, they welcomed new designer Madison Reitz. Daughter has been somewhat under the radar since launching a year ago but has since blossomed into an agency with many fine clients including Inliv, Phil & Sebastian, Associated Communities, Youth Singers of Calgary and Natur’el Tea. Herman moved to New York after graduating from Emily Carr University in Vancouver but returned to Calgary to work with Wax (where he met Kochorek) and Trigger (where he worked alongside New Zealander Dewes who left to become managing director at Uppercut).

Parker’s Pick National Banks - Private Banking 1859’s classy ads showing off its new 8th Avenue SW location.


29 TEAMS

702 STUDENTS 164 VOLUNTEERS

Over the course of 18 weeks, Calgary and area youth have developed a business idea, written a business plan, elected executives, and marketed and sold their products. Students would not have been able to participate in this valuable entrepreneurial experience without the mentorship of volunteers and the support of organizations dedicated to seeing Alberta’s youth succeed.

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IN-KIND JA provides work readiness, financial literacy, and entrepreneurship programs for grades 5 -12 www.jasab.ca Learn more about Company Program at jasacompanyprogram.com

School of Business

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New flexible design fits all office models.

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