boom & bust

downtown calgary is the product of decades of boom-and-bust cycles. we’re in the middle of another construction boom cycle, with dozens of cranes working the downtown area. the calgary tower is about to be dwarfed by the new Bow tower – which nearly stalled due to financing difficulties. too big to fail, too fast to stop. and we’ll be seeing vacancy rates that will make much of the downtown commercial real estate listed cheaply.

the current tallest building – petro canada tower (53 stories) – is now owned by suncor, who bought petro canada, and is now laying off thousands of workers. the new champion will be the Bow complex, 58 floors and 1.7 million square feet of space for EnCana.

2010/01/28: The economy is in the news all the time. Make a photo that illustrates the economy or its impact on you in some way. #ds74