Militano also heads a company that owns the building where Carbon Graphics is located. There are five tenants on the second floor, two of which had to close in the past couple of years. While property taxes were not the only factor, they were one of many pressures.
Tsu said the hit to local restaurants and bars coming out of the pandemic and due to inflation is just beginning to be understood, and this will make it that much more difficult for them. In particular, he is concerned about the future for businesses on 17th Avenue with another construction project on deck, which will eat into revenues while facing another hike to costs.
Calgary is not in line with other cities and has a leftist Mayor and city hall who talk a good game but are actually anti business. Almost one third of downtown buildings are empty and city politicians don’t care and likely are not smart enough to understand the options.
So YYC companies can scale back their Stampede festivities and the Christmas party.