Thursday, November 10, 2011
BE A LAMB & BUILD IN CALGARY!
Toronto tower builder eyes three Calgary projects
‘You can feel the wealth,’ says Toronto developer
By Dan Healing
Calgary Herald November 9, 2011
CALGARY — A Toronto residential tower condominium developer is proposing three projects for Calgary, attracted by the city’s wealth and style.
Brad Lamb, head of Lamb Development Corp., said Wednesday his company will partner with Fortress Real Capital on the first project, a 30-storey, 230-unit condo at 10th Street and 6th Avenue S.W.
The project is expected to cost about $62 million to build and its residential units and ground level retail to sell for around $80 million, he said.
“I’ve been looking at Calgary for five years trying to find the right opportunity,” he said.
“And I believe now is right for Calgary.”
Lamb said he believes Calgary is the most affluent city in Canada and, furthermore, that the downtown region between the Beltline and the river is ripe for high-density development.
“You can feel the wealth in Calgary,” he said as he prepared for a meeting with potential investors on Wednesday evening.
Lamb said his second project will be a hotel and condo combination and the third will be a highrise but its details can’t be revealed as yet.
The downtown Calgary market for residential towers has come back from 2008 when the shrivelling economy dealt a death blow to the four-tower Arriva project by Torode Residential Ltd.
In August, Vancouver-based Mike Bucci of Bucci Developments Ltd. said his company was shifting focus to Calgary, with two new projects, because the economy is more promising than in the company’s home town.
Canada Mortgage and Housing Corp. reported Tuesday that multi-family starts in the city are up 70 per cent for October and five per for the first 10 months compared with last year.
The numbers are being driven by the highest number of apartment unit starts since May 2008, it noted.
Wednesday, November 9, 2011
THE BIG BABY PHENOMENON!
Adult kids living at home? It is going to cost you
Jonathan Chevreau
Financial Post Nov 9, 2011
In Italy, they’re called “big babies.” In North America, Generation Boomerang, which is also the title of a one-hour documentary about the phenomenon of adult children still living at home with their parents. It airs on CBC’s Doc Zone Thursday night at 9 p.m. EST.
This is a far more pervasive trend than you may think: fully half (51%) of young Canadians in their 20s still live with their parents, often in the bedrooms they’ve occupied since they were children. The percentage jumps to 60% when narrowed to just those aged 20 to 24.
Social scientists say it’s a global trend not likely to fade away – at least so long as developed economies are stagnant and jobs scarce. According to Newsweek, 55% of American males aged 18 to 24 still live at home.
The phenomenon is even more pronounced in Europe. In Italy, 70% of young adults live at “casa mama.” The Italian term “Bamboccioni” means big babies. And in the United Kingdom, one in three parents are remortgaging their homes to support “Yuckies” – Young, Unwitting, Costly Kids.
A year in the making, the documentary was produced by Vancouver-based Dream film Productions and directed by long-time business partners Sharon Bartlett and Maria LeRose, both Baby Boomers and parents. Their next project addresses youth unemployment.
Thursday’s show begins with and periodically revisits Vancouver comedian Phil Hanley, who has “mined comedic gold” about living with his parents in his 30s. His opening line is “I’m not only a comedian, I’m also a stay at home son.”
If Hanley can make the leap from living at home to show business success, he can skip entry-level jobs. As Maria LeRose notes, the irony is the topic of living at home may be what ultimately gets him out of there. In fact, he’s often on the road, but the parental home serves as his base.
Other subjects in the documentary have a similar strategy, prompting Seattle-based social psychologist Jane Adams to declare this a generation that refuses to start at the bottom and pay their dues.
“There are jobs the Boomerang generation don’t consider because they don’t fit their self image, values and expectations,” she says in an interview. “They want to live in the same style their parents raised them in, forgetting it took those parents 25 years to get there.”
Perhaps that’s why Paul Lermitte in Richmond, B.C. has decreed sons Patrick and Jeremy must leave home by 25. The youngest, 23-year old Jeremy, sees home as a “harbour” while he studies to become a financial analyst. The documentary builds suspense as Patrick approaches 25. He wants to break into film but figures jobs are scarce so needs to stay home while he builds up his contacts. “I don’t want to be stuck in a job where I’m not happy,” he tells the camera.
Publicist Jeremy Katz says Boomers were an historical blip in leaving the nest early. “Their parents and their parents’ parents lived at home until they got married and started their careers/life’s work.” When Boomers came of age, jobs were plentiful and housing cheap. “They just lucked out,” says Katz, himself a Boomer.
Here in 2011, 30 looks to be the new 20. Call it extended adolescence. Some sociologists consider it an entirely new life stage dubbed “emerging adulthood.” One former Boomeranger, Christina Newberry, twice returned home in her 20s and has parlayed the experience into a book and blog: www.adultchildrenlivingathome.com.
If you’re a Boomer parent, you better believe Junior’s extended stay will cost you, even delaying your own retirement. On average, it costs $200,000 to raise a child to 18 but an extended stay into their 20s can easily add on another third. A U.S. study found parents spend 10% of their income to support their adult children. Jane Adams doesn’t think economics alone explains the phenomenon but warns Boomers can’t get on with their second adulthood if their kids haven’t got on with their first one.
I wonder if these kids are shortchanging themselves by avoiding entry-level jobs and the raw material of life experience. Every job, no matter how humble, provides life lessons and may lead to unforeseen opportunities via random encounters unlikely to occur while they’re holed up in their childhood bedrooms surfing the web.
Many of these kids appear to be aspiring writers or creative types, in which case the supposed “joe jobs” they’re spurning might furnish more comedic or creative gold than would staying at home.
Photo By: Mimi Jaffe
Jonathan Chevreau
Financial Post Nov 9, 2011
In Italy, they’re called “big babies.” In North America, Generation Boomerang, which is also the title of a one-hour documentary about the phenomenon of adult children still living at home with their parents. It airs on CBC’s Doc Zone Thursday night at 9 p.m. EST.
This is a far more pervasive trend than you may think: fully half (51%) of young Canadians in their 20s still live with their parents, often in the bedrooms they’ve occupied since they were children. The percentage jumps to 60% when narrowed to just those aged 20 to 24.
Social scientists say it’s a global trend not likely to fade away – at least so long as developed economies are stagnant and jobs scarce. According to Newsweek, 55% of American males aged 18 to 24 still live at home.
The phenomenon is even more pronounced in Europe. In Italy, 70% of young adults live at “casa mama.” The Italian term “Bamboccioni” means big babies. And in the United Kingdom, one in three parents are remortgaging their homes to support “Yuckies” – Young, Unwitting, Costly Kids.
A year in the making, the documentary was produced by Vancouver-based Dream film Productions and directed by long-time business partners Sharon Bartlett and Maria LeRose, both Baby Boomers and parents. Their next project addresses youth unemployment.
Thursday’s show begins with and periodically revisits Vancouver comedian Phil Hanley, who has “mined comedic gold” about living with his parents in his 30s. His opening line is “I’m not only a comedian, I’m also a stay at home son.”
If Hanley can make the leap from living at home to show business success, he can skip entry-level jobs. As Maria LeRose notes, the irony is the topic of living at home may be what ultimately gets him out of there. In fact, he’s often on the road, but the parental home serves as his base.
Other subjects in the documentary have a similar strategy, prompting Seattle-based social psychologist Jane Adams to declare this a generation that refuses to start at the bottom and pay their dues.
“There are jobs the Boomerang generation don’t consider because they don’t fit their self image, values and expectations,” she says in an interview. “They want to live in the same style their parents raised them in, forgetting it took those parents 25 years to get there.”
Perhaps that’s why Paul Lermitte in Richmond, B.C. has decreed sons Patrick and Jeremy must leave home by 25. The youngest, 23-year old Jeremy, sees home as a “harbour” while he studies to become a financial analyst. The documentary builds suspense as Patrick approaches 25. He wants to break into film but figures jobs are scarce so needs to stay home while he builds up his contacts. “I don’t want to be stuck in a job where I’m not happy,” he tells the camera.
Publicist Jeremy Katz says Boomers were an historical blip in leaving the nest early. “Their parents and their parents’ parents lived at home until they got married and started their careers/life’s work.” When Boomers came of age, jobs were plentiful and housing cheap. “They just lucked out,” says Katz, himself a Boomer.
Here in 2011, 30 looks to be the new 20. Call it extended adolescence. Some sociologists consider it an entirely new life stage dubbed “emerging adulthood.” One former Boomeranger, Christina Newberry, twice returned home in her 20s and has parlayed the experience into a book and blog: www.adultchildrenlivingathome.com.
If you’re a Boomer parent, you better believe Junior’s extended stay will cost you, even delaying your own retirement. On average, it costs $200,000 to raise a child to 18 but an extended stay into their 20s can easily add on another third. A U.S. study found parents spend 10% of their income to support their adult children. Jane Adams doesn’t think economics alone explains the phenomenon but warns Boomers can’t get on with their second adulthood if their kids haven’t got on with their first one.
I wonder if these kids are shortchanging themselves by avoiding entry-level jobs and the raw material of life experience. Every job, no matter how humble, provides life lessons and may lead to unforeseen opportunities via random encounters unlikely to occur while they’re holed up in their childhood bedrooms surfing the web.
Many of these kids appear to be aspiring writers or creative types, in which case the supposed “joe jobs” they’re spurning might furnish more comedic or creative gold than would staying at home.
Photo By: Mimi Jaffe
Wednesday, November 2, 2011
GOOD ADVICE WHEN SELLING!
A guy's guide to a spiffy abode
Barbara Mahany
Chicago Tribune October 31, 2011
We’re not pointing fingers or anything, but let’s just say we might have strolled into more than one apartment in our time in which the fellow in charge of cleaning was, well, clearly otherwise preoccupied.
Exhibit One might have been the kitchen sink, piled high with a good month’s worth of dirty dishes, spaghetti sauce now permanently splattered to the wall, a la Jackson Pollock. Or maybe it was whatever lurked behind the bathroom door. And made us slam the door, dash down the hall and bang on some stranger’s door in search of a salle de bain not quite so, um, pungent.
Fact is, plenty of males we know need help in the cleanup department. And we are here, mop and dustbin at the ready, to leap to the rescue. We enlisted the expert advice of Nicole Sforza, senior home editor at Real Simple magazine and a clean freak who knows her way around all the nooks, crannies and dust holes that might trip up a lesser soul.
Herewith, our Guy’s Guide to Housecleaning, headlining the top 10 tips for a spick-and-span abode. Or, as Sforza put it: “How to minimize the gross factor.”
1. DITCH THE TOILET BRUSH, DUDE. No really. You do not want that nasty thing festering in the holder, over there in the corner. “Minimize the concept altogether,” says Sforza. Go with disposable toilet brushes. Swish, and ditch. (Or ditch ‘em altogether: Next time you find yourself in need of Alka-Seltzer, well, your toilet bowl could use two, too. Just pop ‘em in the bowl, let the bubbles do their thing, and 20 minutes later, flush it all away.)
2. HIDE THE GOODS. Keep a bottle of all-purpose cleaner in every room in your house, but hide it. Under the couch. Beneath the sink. You name it.
3. CUT THE BIG SCREEN FIXATION. Do not, do not spritz any sort of cleaner on your big screen, boys. Ditto for the computer screen or any electronic gizmos that sport a dusty patina. Instead, next time you haul a load of laundry out of the dryer, grab the old dryer sheet (yes, the one that just came out of the dryer) and wipe down your screens, all of ‘em.
4. BE STILL MY DUSTER HEART. Yes, the hand-held shaggy-haired wandy thingy is the next best thing to that genie in a bottle. You don’t need any spray. Just swipe the duster on any surface and you’ll clear the decks of dust. But beware: When the duster starts to turn a greyish colour (say, how you look when you glance in the mirror on the morning after a big night out), it’s time to toss it out.
5. LEAVE IT WHERE YOU’LL TRIP OVER IT. The tile cleaner, that is. Tuck it between the shower curtain and the shower liner (if you have one), so you’ll remember to spritz the tile walls every time you suds up.
6. HIDE ALL BUT THE ESSENTIALS, when it comes to the bathroom at least. Toothbrush? Toothbrush holder? Razor? Rusty can of shaving cream? Why do you think medicine cabinets come with doors? Shove ‘em back there, and forget ‘em. If you’re lucky, no nosy body will stick her nose in there and sniff out your unsightly ways.
7. VROOM, VROOM GOES THE VACUUM. Just because you have thick rugs or shaggy carpet and can’t see the dirt, don’t think it’s not down there. Plug in the vacuum, and suck it up. Sforza’s tips: Don’t pretend you have no vacuum; remember to overlap your path; and a mini hand vac never hurts — you can swipe up a rug in no time.
8. THE BATHTUB. We could spend weeks on this sorry pit, but let’s start easy. If you’ve remembered to put a hair trap over the drain, know this: You do have to clean out the hairs. And pouring a shot of white vinegar and a clump of baking soda down that drain will never ever be a bad idea. Have at it, Mr. Volcano Man.
9. MOVE OVER, MICROWAVE GRUNGE. You’re gonna love this: Fill a microwave-safe bowl with water (a squirt of lemon scores you extra points); zap for five minutes, till the inside of the ‘wave is all steamy. Wipe it down with paper towel and you’re back in business, splatter-free.
10. TIME TO HIT THE KITCHEN SINK. Once you suds through the month’s worth of dirty plates and bowls, you will notice that there is a sink down there. It will need a shine. Take half a lemon and swipe it all over your sink’s surface, and if — and only if — you have a garbage disposal, make it purr: Stuff a half lemon down there and crank it up. Your kitchen will smell like a citrus grove. Well, maybe.
AND NOW FOR SOME TRICKS TO GET YOU IN THE CLEANIN’ GROOVE:
—INVITE FOLKS OVER. Yes, sir, surest way to force you to clean is to consider the faces of your friends when they realize what a slob you really are. Sorry, tough love is the only way sometimes.
—SPEED CLEAN. Set a time limit, something tolerable, say, 20 minutes. Crank the timer. Rush around like a crazy man. See how much real estate you can cover before the gong goes off.
—STICK TO COMMERCIAL BREAKS. Got a long night in front of the big screen? Well, put those commercials to good use, and commit to cleaning while the ads whir by. By the time you click it off for the night, your home sweet home could be shinin’.
—A GREAT PLAYLIST IS A HOUSECLEANER’S BEST FRIEND. We’ll let you compile your own.
Photo By: Christian Yanchula
Labels:
Advice,
Calgary Real Estate Blog,
Christina Hagerty,
Cleaning,
Selling
A TIME TO REMEMBER OUR HEROES!
Miracle man: How one Chinese diplomat saved thousands of Jews from the death camps
Joe O'Connor
National Post Nov 1, 2011
TORONTO — Eric Goldstaub curses, spits out a stream of naughty words and then abruptly apologizes for having uttered them. He can’t help himself, he says. It was a long time ago, a lifetime, but when he thinks back to the Vienna he once knew and all the doors that he knocked on — and all the doors that were shut in his face — his temper sparks.
“I went to every goddamn consulate there ever was in Vienna. Vienna, as the Austrian capital, had all the consulates,” the 89-year-old growls. “I wanted to get visas for my parents and for my relatives. I had 20 relatives. My family, we were 20. And I was going from one bloody consulate to the other. ”
He was a Viennese Jew, and this was his beloved Vienna in 1938, after the Austrians had welcomed Hitler and his Nazi thugs with straight-armed salutes and a campaign of Jewish persecution that would escalate into the Holocaust.
Mr. Goldstaub was a teenager from an influential Jewish family, with a trench coat, a fedora, kind-looking eyes and a talent for dancing.
His fruitless waltz around the city district housing international embassies ended when he visited the Chinese consulate and was met there by Dr. Feng Shan Ho, the Consul General.
“It was a warm reception, and he said bring your passports tomorrow and we will give you all visas,” Mr. Goldstaub says.
“I didn’t believe my eyes, my ears. It was like a miracle that he would say that and, sure enough, I went back the following day and brought all the family’s passports and he sent me away with visas for Shanghai, China.
“And I didn’t even know where the hell China was.”
Much was lost in the Holocaust including, in large part, the story of a Chinese diplomat, an Oscar Schindler of the Far East who, with a stroke of the pen rescued thousands of Jews from the death camps.
“Very few people did the right thing during the Holocaust,” says Bernie Farber, former CEO of the Canadian Jewish Congress, who is lecturing in Toronto on Wednesday about the unsung heroes of the Holocaust, for which Mr. Goldstaub will be in the audience. “If more people acted as did Feng Shan Ho, and others, it would be a different world today.”
The world in 1938 was a dangerous place, especially for Jews. Shanghai, an open port city without any diplomatic controls and with a Japanese occupying army watching over it, became a safe harbour for thousands fleeing the coming horrors in Europe.
“People usually ask me two questions about my father,” says Manli Ho, the diplomat’s daughter, from San Francisco.
“Why would some Chinese guy be saving Jews in Vienna when so many Europeans were turning their backs, and why didn’t he talk about it?”
The answer, she believes, is that helping people was the most natural thing for her father to do. And since it was, he never spoke about it after the fact.
Dr. Ho devoted one sentence of a 700-page Chinese language memoir he published in 1990 to the Viennese visa scheme. What he omitted is a Hollywood blockbuster that has never been made.
For two years, he issued visas. Five hundred a month on average, despite being ordered to stop by his superiors and being evicted from the building housing his office by the Germans. Dr. Ho opened a new office, and paid for it out of his own pocket when his Chinese boss in Berlin shut off the money tap. He kept issuing visas until he was transferred out of Austria in 1940. He died in California in 1997, having never met the people he helped save, beyond a fleeting, life-giving encounter in Vienna.
..Mr. Goldstaub was among the lucky ones. He got out with his family and, after 12 years in Shanghai, a time he remembers as a “great adventure” of youth, he moved to Canada and began importing classic clocks and barometers.
“My company is called Ergo Industries — Ergo — for Eric Goldstaub,” says the proprietor, plunking a business card in my palm.
Mr. Goldstaub is honorary president. It is a title he takes seriously, spending most mornings at an office in suburban Toronto reading newspapers, drinking tea and kibitzing with the employees, including his son, Danny, who runs the place.
The old man is turning 90 in a few weeks. On a rare morning at home, in a spacious apartment, surrounded by ticking clocks and trinkets from China and photos of his grandchildren, Mr. Goldstaub smiles. He says that he has lived a good life, one full of richness and luck.
“If I never knocked on that door in Vienna I would have been in a concentration camp,” he says. “And I would have died, I am almost sure of that. Our whole family would have died.
“We needed Feng Shan Ho. He saved us. It was a miracle.”
National Post
Monday, October 31, 2011
ROBUST RETAIL
Calgary demand for new retail space ‘unprecedented’: Colliers
More than 10 million square feet proposed
By Mario Toneguzzi,
Calgary Herald October 31, 2011
CALGARY — Demand for new retail space in Calgary has reached an ‘unprecedented’ level, says a report by Colliers International.
The commercial real estate firm says 27 projects comprising just over 10.7 million square feet throughout the city are in the planning, permitting or construction stage.
“The momentum of the Calgary retail market in 2011 can be best described as resilient and very robust,” says the report. “The overall vacancy rate has remained unchanged over the past 12 months at 1.45 per cent.
“Calgary has the distinction of having one of the lowest, if not the lowest, retail vacancy rates in all of North America.”
With the influx of both Canadian and international retailers, all vying for a “slice” of the Calgary market, the retail market is expected to remain very strong into 2012, with vacancy rates approaching 1.3 per cent, says Colliers.
“The retail development community is actively pursuing new projects throughout the city, including a push into inner-city mixed-use developments,” says the report.
Friday, October 28, 2011
A FRENZIED PACE!
Calgary office leasing activity a sign of prosperity
Employment growth expected to follow
By Mario Toneguzzi
Calgary Herald October 27, 2011
CALGARY — It is a symbol of both current and future prosperity.
And judging by the record, frenzied pace of leasing activity in the downtown office market, Calgary’s economic fortunes appear to be looking good right now - and down the road.
The leasing activity is sure to lead to future employment growth.
“Companies don’t snap up office space just to lounge in it — if energy companies are expanding their office footprint, they plan on growing their business. This means more drilling, more investment, more jobs and more economic growth for Alberta moving forward,” said Dan Sumner, economist with ATB Financial in Calgary.
Greg Kwong, executive vice-president and regional managing director of CB Richard Ellis Ltd., who moderated a panel discussion on the topic Wednesday at the Calgary Real Estate Forum, said so far this year absorption in the downtown market is 2.2 million square feet.
“To put it into perspective, the average over the last 15 years has been about 750,000 square feet annually. So unbelievable in that respect,” said Kwong. “Why is it happening? Probably two factors. One is if you talk to the oil and gas companies and energy-related services companies that are taking space ... they’re banking space again.
“The second factor is that there was an unusual amount of lease renewals that came up for expiry in the last couple of years and they took advantage of what was deemed to be a slower market.”
Kwong said the difference in the oil and gas industry between today and 30 years ago is that capital budgest and decisions involve billions of dollars being laid out over 10, 15 or 20 years.
Todd Throndson, managing director of Avison Young in Calgary, said many companies are making plans for the long term.
“They want to protect themselves for projects that they may have in six months, in 18 months, in 24 months. Down the road, they’re thinking big picture,” he said. “A lot of companies back in 2006 and 2007 were put in very compromising positions because of their real estate needs. They weren’t able to get the space they wanted. They had to pay a lot more money for the space than what would have been ideal.
“So a lot of them with strong balance sheets are making sure they protect themselves and get their space for their corporate needs going into the future.”
That’s reflected in the downtown office vacancy rate. According to Avison Young, it’s reached its lowest level since early 2009. Over the last three months, downtown office vacancy has dropped from 7.4 per cent to 6.2 per cent.
The addition of skycrapers Eighth Avenue Place and the Bow have not spiked the vacancy rate as was feared a couple of years ago. And demand is fuelling talk of more new development on the horizon.
Bryan Slauko, managing director of Base 10 Capital Advisors, said the amount of absorption implies significant growth in the number of office jobs in Calgary that would be needed to fill those seats. And filling all those seats requires new employees which would mean population growth in Calgary. But population growth can’t match that level of employment growth.
“It begs the question: if there’s not a ton of new office employment currently compared to the historical level to absorb all that office space then in my opinion it seems to mean . . . it’s for speculative growth. They’re planning on growing into that space in the future if the economy holds up and their hiring plans continue,” said Slauko.
“But that comes with a fair amount of risk to the office market because we see today in the economy there’s a lot of global economic uncertainty and I don’t believe Canada is immune and Alberta’s not immune because there’s a lot of risk to the natural resource prices that we depend on.”
And if the economy heads south then potentially a lot of office space will be coming back onto the market for lease.
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