The Business Strategy and Operations section provides the branch with analytical, financial, IT, communications and strategic support. The section leads branch-wide initiatives to enhance organizational capacity and improve business processes. It also creates and implements branch-wide strategic and business plans and represents the branch on city-wide initiatives.
About the Branch
The Real Estate Branch governs real estate with a strategic and integrated city-wide lens, based primarily upon financial sustainability. This encompasses the complete civic land life cycle, including planning and development, acquisition, inventory and governance, appraisal, leasing and management and sales.
The branch also advances economic development strategies to support Council’s vision for a vibrant and inclusive city. This is a city that attracts investment and provides a high quality of life, ensuring ongoing sustainability and success.
The major areas of responsibility of Real Estate include:
The City develops and sells 2 types of land that it owns:
- Land Enterprise developments include the planning, servicing and sale of land that was acquired for the purpose of development and revenue generation.
- Surplus Land developments include the planning, servicing and sale of lands that were originally acquired for a municipal purpose and have since been declared surplus to City needs.
Land development activities are funded through revenue generated from land sales and require no taxpayer dollars.
The program also pays a dividend into the City’s budget annually from its earnings, often referred to as Land Enterprise Retained Earnings. This dividend helps to annually lower the amount of property taxes required from property owners. This cycle of investment generates consistent revenues for the City, creates sustainable and inclusive developments for Edmontonians and provides opportunities for business growth and investment within the community.
Land Development helps contribute to the following City objectives:
- Climate resilience, energy efficiency and sustainability so our city can thrive in the future
- Equitable access to a diverse range of market rate housing types so our residents can secure the shelter they need
- Supporting commercial, industrial and small business growth so jobs are created
- Innovative technologies, practices and development opportunities to help our economy grow
The Property Services section provides services to the corporation in property, facility, and land management. The section also supplies in-house real estate valuation, corporate land inventory management, and property management services. This section leads the structuring of the City’s land management processes to allow the City to more efficiently use its real estate assets.
Property Services ensures the City acquires, manages, maintains, and disposes of real estate using methods which are fair, consistent, and transparent, and reflects a broad corporate perspective aligned with long term strategies.
The Property Transactions section leads the acquisition, sale and leasing of real property to support the City’s immediate and long-term real estate requirements.
The Leasing Unit provides specialized building and facility leasing expertise to the organization, including providing support to City-building initiatives such as Not-for-Profit leasing.
The Property Acquisitions unit is a client driven area that is responsible for acquiring land and real estate interests on behalf of the City in order to support the realization of Council-approved capital projects.
The Property Sales unit markets and sells developed and surplus properties and contributes to City revenues through projects that increase the tax base, create greater economic activity and provide focused community investments.
The range of properties marketed and sold includes newly serviced residential, industrial and commercial lots, surplus inventoried for municipal purpose (FMP) sites with or without improvements, surplus right of ways, utility lots, and tax recovered properties.
Related topics and initiatives: