The City of Airdrie has released its 2022 report on land and real estate growth metrics, highlighting robust activity and continued growth in the municipality last year, according to a City press release.
The report outlines key metrics up to Dec. 31, 2021 related to population, growth rates, employment, non-residential development, housing inventory, develop-able land, and more.
Christa Sanders, an economic development officer for the City, said the report also highlights the trajectory for growth in the municipality in the coming years, and identifies opportunities to fill gaps in the market where “pent-up” demand exists.
“This year’s report really highlights the immense activity and growth the city experienced in 2021 and demonstrates how we are set up for success in the coming years,” Sanders said in the press release.
According to the report, Airdrie continues to be one of the fastest-growing municipalities in both Alberta and Canada, with a 20 per cent increase in population from 2016 to 2021, a 24 per cent increase in business licenses issued, and a 36 per cent increase in employment in the same time frame
The report also indicates the addition of more than 535,000 square feet of non-residential building environment, representing a significant uptick in commercial development opportunities within the municipality.
“The growth report is a great road map for investors, developers, builders, and businesses who have recognized Airdrie is the ideal place to build and grow,” Sanders continued.
The economic development officer said the report demonstrates the immense activity in the municipality in 2021, but it also gives a good snapshot of how “fast and significantly” the city has grown over the years.
She said the report consolidates key metrics that help to navigate Airdrie’s real estate landscape and provides information and data sets related to population, employment, growth rates; non-residential development; and current and future inventory of housing by type.
Though she acknowledged the rapid growth puts “significant pressure” on the City’s current infrastructure, Sanders argued it also increases residents’ quality of life and amenities in the long term, thanks to opportunities for an increase in employment and commercial businesses.
“Providing more opportunities for our residents to be employed in the city is exceptional,” Sanders said in an interview. “In addition to that, we continually strive to attract more investment, so we still have significant opportunities for growth that will help us far into the future.”
She said the municipality is actively and responsibly planning for the growth predicted in coming years and is fully prepared to handle the ongoing development.
“All of these items are contained within our 10-year capital budget, so we are definitely taking the growth in stride and planning for it,” Sanders said.
The growth report also provides metrics related to the inventory of available and develop-able residential and non-residential lands, and a projection of future land consumption.
Sanders believes the amount of funds entered into subdivision servicing agreements last year – representing 71 acres of non-residential land – will have a marked impact on Airdrie in the coming years.
“That means more lands available that are serviced to continue building for new investments that are coming,” she said. “That will additionally add to the job opportunities, so it’s not only what we just increased in 2021...
“But, because those lands came on stream, we can expect an even more increase in employment over the next few years.”
In addition to the 535,000 new square feet of non-residential space, the city is home to 650,000 square feet of already constructed space that has undergone leasehold improvements, according to the report.
Sanders said as part of her role with the City, she is particularly focused on fostering growth in Airdrie’s East Lake Industrial area in the coming years.
“We are very focused with trying to attract that investment that will bring some of those lands that could contribute to more than five-million square feet just in one of the quarters,” she said.
“If you think about what that would look like from an increased employment perspective, we’re really excited and this is where we focus our work to achieve.”
According to Sanders, the 85-page report is robust and may be daunting or overwhelming for residents to make sense of.
She added the information provided in the report will be presented at the upcoming Airdrie Business Breakfast and Economic Update, as well as the Real Estate Review occurring later this month.
More information about these events can be found on the City website and the Airdrie Economic Development LinkedIn page.
Those interested in learning more about the report are encouraged to visit airdrie.ca/growthreport
