Brookfield Place Calgary | 247M - 56F | Construction

[liferanger]

Hey folks, not from Calgary ( N of Edm actually) but very curious as to the state of the oil and gas sector in the downtown Calgary area and wanted to hear any first or second hand accounts, good or bad? All I have been hearing is negativity ( of course media driven) with respect to job cuts, downsizing etc but what I'm curious about is

a) if the above is accurate, is there a significant need for all the towers currently under construction or have they all been pre-leased long term so the companies have no way of backing out anyway?

b) if the job losses are occurring, are folks simply swtiching fields and seeking /finding employment in other sectors? Much appreciated

I have spoken with a ton of folks in the Edmonton region and contractors are getting walloped!!! Several contracts have evaporated completely while other contractors simply hold out on their inflated prices, thinking that things will come back. Further and more worrisome are the families that have now been w/o work for 6-12 months.....

Others have simply switched from oil/gas back into forestry related work.....

thanks all

By the way, love this tower....