Last month, at the NAIOP breakfast held at Edmonton’s Westin Hotel, an engaging panel conversation unfolded between two prominent figures in the Alberta real estate and economic development industry. Mark Garner, Executive Director of the Calgary Downtown Association, and Cory Wosnack, Principal and Managing Director at Avison Young, discussed the dynamic landscape of real estate and broader economic growth strategies.
A Tale of Two Cities
Mark Garner kicked off the discussion by highlighting the common struggles and efforts between Edmonton and Calgary in revitalizing their downtown areas. Despite the friendly rivalry, Garner emphasized the importance of collaboration and learning from each other’s successes and missteps. He aptly put it, “Stop looking over the fence,” urging both cities to share insights and strategies rather than compete.
Office-to-Residential Conversions: A Step Forward
Calgary’s ambitious office-to-residential conversion projects have drawn attention across North America. With the province’s population on the rise, the conversion of office spaces to residential units is deemed essential to meet the growing housing demand. Garner recognized the progress but emphasized that this strategy alone isn’t a complete solution. “The office-to-residential conversion is effective, but it still falls short of meeting all requirements,” he noted, highlighting the fact that the program is now fully subscribed, as well as the need for more amenities for new residents in these redeveloped spaces.
Cory Wosnack, who has been actively involved in similar projects in Edmonton, echoed this sentiment. He highlighted a recent project with Josan Properties to convert the Phipps-McKinnon building in Downtown Edmonton, emphasizing the importance of a collaborative approach. “That partnership approach Calgary established with the industry, private sector, and the City of Calgary, to create a playbook that they co-authored together — to me that’s a very admirable approach that we can learn a lot from,” Wosnack noted.
The Role of Education and Retail
Education emerged as a critical factor in attracting people to the downtown core. Garner pointed out that Edmonton is ahead of Calgary in terms of post-secondary education presence downtown. With approximately 35,000 students and nearly 5,000 staff attending institutions in Edmonton’s core, the numbers are expected to grow, contributing significantly to downtown vibrancy.
However, both Garner and Wosnack identified a common gap in the retail sector. While Edmonton has seen a boost in downtown retail activity, partly thanks to a successful NHL playoff run, maintaining consistent retail presence remains a challenge. Garner suggested that both cities could benefit from examining and adopting successful retail strategies from each other.
See also:
How downtown Edmonton retail is getting its groove back (CBC)
NAIOP’s Brick and Mortar Campaign Profiles Downtown Businesses
Moving Forward Together
In an interview with Global Edmonton News after the event, Anand Pye expressed that the City Council and Provincial Governments need to “take a look at a comprehensive set of things for downtown.” He explained further that we need to figure out “the next steps for Edmonton’s downtown that are major and transformational…(and that) one of those will be how to attract residents downtown.”
See more interviews at:
Edmonton Journal
CTV News
The breakfast event was a powerful reminder of the importance of community and cooperation in revitalizing our downtown areas.
Garner called for industry members to act with urgency and said, “The total population of Canada will visit Edmonton or Calgary’s downtown in the next five years, and we need to make sure we’re making an impression that will bring them back. (And we don’t need to start from scratch. We need to) find what’s working in a city…and just bring it back”.
By leveraging the strengths of both Edmonton and Calgary, we can build downtown cores that are not only economically robust but also vibrant, inclusive communities.