June 5, 2013
WEDNESDAY
“It’s going to be a rental apartment building when it’s done and we hope to take advantage of the low vacancy there.” A12
– Pinetree owner Matt Dorling
Council clears path for new apartment building A developer has been given the green light to start work on a new apartment building in Estevan. City council passed a rezoning bylaw at its May 27 meeting which changed the site of the former Valley View School, located on the 700 block of Third Street, from its previous institutional designation to a residential medium density zone. Pinetree Developments of North Vancouver made the rezoning request at the April 15 meeting and it passed unanimously last week. Pinetree owner Matt Dorling said his company is excited to get to work on the building that will add 47 much needed apartment units to the city. Dorling said they are currently in the design phase with their architects and hope to lay the foundation in either July or August with an eye towards being ready for occupancy in April of 2014. “It’s going to be a rental apartment building when it’s done and we hope to take advantage of the low vacancy there,” said Dorling who noted his company has a handful of properties in Estevan and will look to add more in the future. “I’m hoping in a year and a half we will do another
materials and building processes. It will be even more greener than a conventional wood frame construction building.” News of the apartment building is good news for Estevan as the rental market remains tight as ever. At last report, the Canada Mortgage and Housing Corporation said Estevan’s vacancy rate was 0.6 per cent. A new report is expected soon and with the ongoing high level of activity in the area it is unlikely that number will improve much.
building just like it; a sister building to that one. I’ve already got one building at 638 Isabelle which is a thirtynine suite apartment building that is fairly new and this will be the second.” Dorling said although it is larger, the new building will have a similar look to the one on Isabelle. He said they also plan to use environmentally friendly materials in construction. “It will be good quality construction and we are building with very green, eco-friendly construction
www.estevanrealestate.com Diane Jocelyn, cres Owner/ Broker / Sales 306.421.3170
Winnona Johner Owner/ Sales 306.421.5725
Sask. business optimism drops For the second straight month, the optimism of Saskatchewan’s small business owners has declined. The Canadian Federation of Independent Business released its latest monthly Business Barometer last week which revealed optimism among small business owners in Saskatchewan decreased from an index of 67.2 in April to 65.8 in May, but is still above the national index of 62.1. Sixty per cent of Saskatchewan small business owners rate their overall state of business as good — the highest in Canada and well ahead of the national average of 37 per cent. Twenty-nine per cent plan to increase full time employment in the next 3 to 4 months — tied for the third highest in Canada. “Small business optimism in Saskatchewan
decreased for the second consecutive month to reach 65.8 — close to levels seen back at the end of 2010 and below 2012. Delayed spring continues to impact optimism levels, however Saskatchewan business owners remain the third most optimistic in Canada after Alberta and Newfoundland and Labrador,” said Marilyn Braun-Pollon, CFIB’s vicepresident, prairie and agribusiness. “Almost two-thirds of owners report the health of their business as good — the highest in the country. And, the hiring outlook remains very solid for the next few months.” Canadian small business optimism remains cool this spring. CFIB’s Business Barometer Index shaved a third of a point in May and now stands at 62.1, versus 62.4 in April. “It’s a fairly
steep declines. Provincial highlights include: · 60 per cent of businesses in Saskatchewan say the overall state of business is good (37 per cent nationally); 30 per cent say it is satisfactory (48 per cent nationally). · 29 per cent of Saskatchewan businesses plan to increase full-time employment in the next 3-4 months (22 per cent nationally) and just 7 per cent plan to decrease full-time employment (9 per cent nationally). · The shortage of skilled labour (45 per cent) remains the main operating challenge: highest in Canada. · Major cost pressures for small business include: wages (51 per cent); fuel/energy (46 per cent); and taxes/ regulations (43 per cent).
small decline, but the index is now at its lowest point since the summer of 2012, when the economy went through a slow-motion act,” said Ted Mallett, CFIB’s chief economist and vicepresident. The patterning across the country, however, has been quite uneven. Optimism is once again highest in Alberta with its index bouncing back to 68.8 — just outpointing business owners in Newfoundland and Labrador (68.3). Saskatchewan (65.8) and British Columbia (64.9) are also above the national average. Ontario (61.9) and Manitoba (61) were just below the national average, followed by Quebec (58.9). New Brunswick (58.1) and Prince Edward Island (55.6) Nova Scotia (50), remains the lowest in business confidence after two months of
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