Post on 17-Jul-2020
ECONOMIC UPDATE2018
OVERVIEW
• Economic Indicators• Industrial Update• Commercial Update• Business Support
ECONOMICINDICATORS
POPULATION
21,000
22,000
23,000
24,000
25,000
26,000
27,000
2014 2015 2016 2017 2018
Population
22,808
24,040 24,569
25,533
26,328
POPULATION FORECAST
20,000
21,000
22,000
23,000
24,000
25,000
26,000
27,000
2014 2015 2016 2017 2018 2019 Est
Population
22,808
24,040 24,569
25,533
26,328 27,000
BUILDING PERMIT VALUES
$-
$20,000,000
$40,000,000
$60,000,000
$80,000,000
$100,000,000
$120,000,000
$140,000,000
$160,000,000
2015 2016 2017 2018 YTD
Commercial Industrial Institutional Residential
REGIONAL AVG. SALE PRICE(Single Family)
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
2018 YTD 2017
FORT SASK AVG. SALE PRICE(Single Family)
$410,182
$413,900
$423,966
$416,917 $415,460
$400,000
$405,000
$410,000
$415,000
$420,000
$425,000
2014 2015 2016 2017 2018 YTD
FORT SASK AVG. SALE PRICE(Condo)
$239,263 $238,170
$245,634 $241,983
$224,207
$210,000
$215,000
$220,000
$225,000
$230,000
$235,000
$240,000
$245,000
$250,000
2014 2015 2016 2017 2018 YTD
FORT SASK AVG. SALE PRICE
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
2016 2017 2018 (YTD)
Single Family - Detached Single Family - Half Duplux Condo (Lowrise) Condo (Half Duplux)RE/MAX Real Estate
FORT SASK UNITS SOLD
RE/MAX Real Estate
0
50
100
150
200
250
300
350
2016 2017 2018 (YTD)
Single Family - Detached Single Family - Half Duplux Condo (Lowrise) Condo (Half Duplux)
AVG. SALE PRICE & UNITS SOLD
RE/MAX Real Estate
0
50
100
150
200
250
300
350
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
2016 2017 2018 (YTD)
Single Family - Detached Single Family - Half Duplux Condo (Lowrise) Condo (Half Duplux)
Single Family - Detached Single Family - Half Duplux Condo (Lowrise) Condo (Half Duplux)
HOUSING STARTS
0
50
100
150
200
250
300
2014 2015 2016 2017 2018 YTD
Single Family Semi Detached Row Multi-Family
STARTS VS. ABSORPTIONS
0
50
100
150
200
250
300
2014 2015 2016 2017 2018 YTD
Single Family Semi Detached Row Single Family Semi Detached Row
BUSINESS LICENCES
892950
10121078
1133
506
658
468 495 481
18 22 27 50 57
0
200
400
600
800
1000
1200
2014 2015 2016 2017 2018 YTD
Resident Non-Resident Temporary
INDUSTRIALUPDATE
COMMERCIALUPDATE
Convenience Centre
11%
Neighbourhood Centre
33%Powercentre / Big Box37%
Downtown Retail Mixed-Use
19%
RETAIL SUPPLY
1,472,371Total Supply (Sq. Ft)
83,462Vacant (Sq. Ft)
5.7%Vacancy
HOUSEHOLD SPENDING POWER
$550,000,000Trade Area Retail Spending
$134,000Average Household Income
COMMERCIAL HIGHLIGHTS
$12,927,969Building Construction Value
115,000 SFBuilt
119,000 SFAbsorbed
COMMERCIAL DEVELOPMENT(2018)
Shopping Centre Commercial Retail Units
New Building Area (Sq. Ft.)
Status
Southpointe 2 4,375 Under Construction
Southridge Landing 4 13,300 Under Construction
Westpark Centre (South) 7 56,614 Complete
Westpark Centre (North) 12 17,770 Under Construction
Willshire Blvd 10 23,594 Permitting Approved
Total 115,653
Cannabis Retail
• Fort Station 1,300 SF• Downtown (100 Ave) 1,648 SF • Downtown (102 St) 1,821 SF• Southfort Professional Centre 1,097 SF• Heartland Common 1,154 SF
1,125 SF• Southpointe 2,660 SF• Westpark Centre 1,662 SF• Southridge Landing 1,498 SF
13,965 SF
DOWNTOWN
STATION CROSSING
SQUARE ONE
EASTGATE PLAZA
RIVERPOINTE PLAZA
HEARTLAND COMMON & STARS INN
SOUTHPOINTE
TOWN CREST CENTRE
WESTPARK CENTRE (South)
WESTPARK CENTRE (North)
SOUTHRIDGE LANDING
WILSHIRE BOULEVARD
STRATEGIC PLAN (2019-22)
STRATEGIC INITIATIVEUpdate the approach to
downtown redevelopment
WHY DO DOWNTOWNS
MATTER?
Downtowns are a city’s
FIRST IMPRESSION
Downtowns give cities an
IDENTITY
Okotoks, AB
Downtowns are a city’s
THIRD PLACE
Big Box
“We want to provide community space — areas for the community to dwell,”. “We want to provide pedestrian connectivity from our box to the experiential zones that are planned on our footprint. We want augment these experiences and activities to with more food-and-beverage, with health-and-fitness, essential servicesand entertainment.”
- L.B. Johnson,Walmart’s vice president of U.S. realty operations (Oct 2018)
WHY DOES DOWNTOWN
MATTER?
INTRODUCTION
Reade BeaudoinI am the newest member of the City’s Economic Development team responsible for business support, expansion and retention.
45
TODAY’S TOPICS▫ I’m going to Introduce
myself▫ Talk about my Vision for the
role▫ Give a sneak peek into a
few Initiatives I will be working on in 2019
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PERSONAL CORE VALUES
▫ Communication▫ Reliability▫ Authenticity
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MY JOURNEY TO ECONOMIC DEVELOPMENT
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CUSTOMER SERVICE & CUSTOMER EXPERIENCE
Customer ExperienceCustomer experience is the sum of all experiences a customer has with a supplier of goods or services, over the duration of theirrelationship with that supplier.
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Customer ServiceCustomer service is a series of activities designed to enhance the level of customer satisfaction – that is, the feeling that a product or service has met the customer’s expectation.
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“My vision for this role is to be a dedicated resource for the Business Community who consistently demonstrates a commitment to customer service excellence in the pursuit of maintaining the City of Fort Saskatchewan’s reputation as a favourable business environment which attracts and maintains investment. 52
HOW ARE WE GOING TO GET THERE?
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2019 INITIATIVES
▫ Communication Audit▫ Communication Plan ▫ Investfortsask.ca
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COMMUNICATION AUDIT
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COMMUNICATION PLAN
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Strategic Priorities ▫ Increase capacity to communicate with the business community
in meaningful ways ▫ Build awareness about the services the Economic
Development team offers▫ Strengthen the relationship with the Business Community▫ Identify areas in need of improvement and champion
success stories
COMMUNICATION PLAN
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THANKS Any questions?You can contact me at▫ rbeaudoin@fortsask.ca▫ 780-912-2167