"Last (summer) there wasn't a lot going on, and in our view that was the bottom of the regional market on the commercial and industrial side," says Vince Lachance, of SCR Commercial Realty.

"But by November-December we started to see a real uptick and that has continued. So there's a real solid level of activity now."

The majority win by Stephen Harper's Conservatives in Monday's federal election has also helped to reinforce the view that Alberta's oilsands are heading into a new, long-term growth phase.

"I had a call last week from a large investor out of Toronto and they were specifically looking for industrial properties of between 10 and 50 acres -preferably serviced, so there could be activity there within the next two to three years," says Lachance.

"They already have interests here, but they want to add to it. So as we see the upgraders develop as well as more secondary, value-added manufacturing, those are the (tenants) that will require the two-or four-acre sites and the 20,000-square-foot warehouses. So it's looking pretty solid in our view, and there isn't a lot of property out there at this point. It's a pretty tight market."

John Marotta, senior vice-president, western region at Bentall Kennedy (Canada), is also upbeat on Edmonton. His firm spent $160 million to acquire two downtown office towers last year, bolstering its existing local portfolio of industrial holdings.

"We feel it's an attractive market, especially with the oilsands activity in Fort McMurray. So as the oilsands continue to evolve and more projects are approved and underway, there will be positive spinoffs for the industrial market in Edmonton." glamphier@edmontonjournal.com

Edmonton's Chinatown is a mass of contradictions.

Yet all that retail and restaurant energy shares a sometimes uneasy coexistence with the area's homeless shelters, social outreach agencies, and, of course, the Edmonton Remand Centre. Chinatown was once literally on the "wrong side of the tracks"; even though the trains no longer run, Chinatown is visually and physically cut off from the rest of the downtown proper by an old railway trestle.

The proposed towers would stand at 105th Avenue, just west of 97th Street, filling in what's now a large surface parking lot behind the Yorkton Pacific Mall.

This is no small project. According to the current proposal, the south tower would be 32 storeys, while the north tower would be a dramatic 42 stories high -for a total of about 425 condo units. The project also calls for a major renovation of the existing mall and the addition of more commercial and restaurant space in the tower pedestals. In the preliminary designs from architect Brad Kennedy, at least, the slim buildings look more like something you'd see in Vancouver, or Shanghai, than Edmonton.

Last fall, when the developers first started talking about the project with area residents, there was considerable enthusiasm, but a lot of skepticism, too. It was hard for people to imagine exactly how you could sell investors, and future condopurchasers, on such an ambitious project, in a part of the city that some people might consider seedy, even dangerous.

But the development started to look a whole lot more plausible last month, after Ed Stelmach announced a surprise plan to build a magnificent new $340-million Royal Alberta Museum -and a possible future high-speed railway station -on the site of the old downtown post office, just a block or so south of the Yorkton Pacific parcel.

If the RAM plan came to fruition, condo tenants would no longer have a view of the back end of a squat brown postal station garage -but rather of a splendid new museum, meant to be a signature work of downtown architecture.

"It's great news, it's fantastic," he says. "When you take a look at all that's going on in the downtown, it's very positive for the community. All these various developments assist in making this a desirable place to live."

Still, there's a big difference between proposing a development and getting it built. Our Journal archives are filled with optimistic stories about grand condo schemes that never happened -or which seem to be on indefinite hold. Yorkton has held one consultation meeting with local residents and business owners. It has filed a formal rezoning application with the city. But it's still a long way from breaking ground.

"We want to see this built," says Liu. "However, the business economics have to come into play as well."

Where conservative Edmontonians look at the property and see an ugly parking lot on the edge of a rough quarter, an investor with an outsider's perspective might see the potential for people to live in a pedestrian-oriented neighbourhood within easy walking distance of restaurants, bakeries, and grocery stores, not to mention the RAM, City Hall, the Law Courts Building and the Churchill Square arts precinct -even, perhaps one faroff day, a direct high-speed commuter link to Calgary, or Fort McMurray.

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Local housing market well-balanced: able to meet reasonable expectations. According to the REALTORS® Association of Edmonton, the average price of housing remained relatively stable through April as compared to the previous month. The all-residential average price decreased $310 to $327,415; down from $327,725 in March

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If my offer is conditional upon financing until Thursday, Jan 5, 20xx, when does it expire? Thursday or Friday?

Buying a home is an investment in the neighborhood as well as the house. In fact, the character and amenities of the neighborhood may be as important to the property value as the house itself. No matter what kind of neighborhood you’re looking for, it's important to know its history and future when you decide to buy. Here’s what to research:

1. Recent sales - Find out if the market is slow and what homes have been selling for.

2. Homes now for sale - What homes are listed in the area, and are they listed above past sales? This will give you a good idea of the area's overall market value.

3. Home appreciation - Historical data on sales gives the best indicator of a neighborhood's potential. Are homes appreciating at 3%, 5%, 10% or higher every year?

4. Schools - School scores and district boundaries are very important to research before moving into a neighborhood. The closest school is not always in your district, and school scores reveal if a neighborhood is invested in the schools' success.

5. Crime - Get the hard facts about any problems in the neighborhood -- don't depend on anecdotal information.

6. Demographics and growth - Find out how the area is growing and changing.

7. Community -- Learn about neighborhood features, such as public schools, shopping areas, parks, commuting options and more.