Bloomberg recently reported that Canada admitted 321,065 permanent residents last year. This is up 12% from 2017, where the country admitted 286,479. Last year was also the largest cohort since 1913 (the year before World War I), where the country admitted just over 400,000 people.

Here is a chart from Bloomberg (it is interactive if you click through):

Of course, Canada was a much smaller country back in 1913 (about 7.6 million people), and so on a percentage basis we are much lower than where we were at the beginning of the 20th century. We'd have to admit close to 2 million permanent residents a year to get to a similar rate.

And that is not what is in the books. Here are the projected admissions for 2019 to 2021. All of the below stats are from the 2018 Annual Report to Parliament on Immigration.

I couldn't find a geographic breakdown for last year, but in 2017, about 40% of admitted permanent residents (or 111,925 total) ended up in Ontario and about 72% ended up in Ontario, Quebec, and Alberta (the top 3 provinces for this year). If we add in BC, it brings this figure up to 86%.

Here are also the top 10 countries of origin:

If you'd like to download a PDF of the full report, you can do that here.

Designed by Snøhetta (design architect) with Dialog (architect of record) and Entuitive (structural engineer), the building was previously named one of “the 12 most anticipated buildings of 2018″ and one that will surely serve as a landmark for the city.

One of the most interesting things about this project, for me, is how it both gives back and integrates with the broader urban fabric. 

It is both a library and public plaza, and it sits atop the city’s busiest LRT line. About 40% of the site area is taken up by tracks (and probably setback), which means that the structural system of the building was forced into 12m (~40 foot) clear spans (done in concrete). It is the first time in the city’s history that an active LRT line has ever been encased and built over.

It is a magnificent building and reason enough to visit Calgary, if you aren’t already there. I am hoping to get out there and photograph this project sometime soon.

Images: Snøhetta and Entuitive 

Today, the Slate Canadian Real Estate Opportunity Fund I announced a new name for its 40 storey tower at 700 2nd Street in Calgary: Stephen Avenue Place. 

It also announced that it has partnered with Oliver & Bonacini Hospitality and Concorde Entertainment Group to create three new dining destinations at the property: a top floor restaurant, a food hall, and a high-energy restaurant/bar/patio at street level.

Here are a couple of excerpts from today’s press release:

Stephen Avenue Place offers 620,000 square feet of rentable space at the nexus of the historic Stephen Avenue Walk and 2nd St. This classic of the Calgary skyline will undergo a significant renovation – from its public-access ground floor to exclusive tenant amenities and top-floor restaurant – that will reposition it as a modern hub for energy, innovation, business, dining and shopping.

The acquisition and renovation of Stephen Avenue Place is part of Slate’s growing investment in Calgary. In the past 18 months, Slate has increased its footprint in Calgary to 2.3 million square feet with the purchase of 21 office properties, including 12 downtown.

“We are thrilled to acquire and develop such a high-quality property in downtown Calgary that offers businesses, diners and shoppers the very best in location, amenities and access,” said Slate founding partner Blair Welch. “Stephen Avenue Place will undergo an extensive renovation to fully reflect the way we work and live now, while respecting and celebrating its history and future as a Calgary landmark.”

For the full press release, click here. And to learn more about Stephen Avenue Place, including leasing opportunities, click here.

Disclosure: As many of you already know, I work for Slate Asset Management L.P. I am responsible for the company’s ground-up development efforts.

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