One Door Closes and a Window opens....

Well, it's been an interesting couple of days. Here's an updated.

Edson Condo Project: Might be put on hold (duration unknown). Alberta Transportation requires a Traffic Impact Analysis to be completed prior to allowing any further development on the parcel of land in Edson. Couple this with the additional costs for obtaining the CN Land and bringing them up to standard for development, along with the additional paving costs and we are over $100,000 in additional costs to get this thing going. Some serious rethinking needs to happen here....

Possible Car Wash: There is a car wash in Edmonton which while in an excellent location, is a pretty poor wash by no stretch of the imagination. It caters primarily to the industrial clientelle we are become more acquainted with - as opposed to the normal commerical clientelle one would normally see in a typical car wash.
There exists the possiblity to develop this car wash into a stellar location. More information as it becomes available.

Downtown Commercial Property: Currently we have a small commercial center in an up and coming area of Edmonton's downtown. Since we purchased this building, it has increased in value over 40% in just over 2 years. With several new developments in the area, now would be an excellent time to make another acquisition.
To this end, we have located such a property and in the new year will pursue it with vigor. It is ideally suited for two store fronts and a small office area above, or two store fronts with offices. What will decide the end use will, of course, be the tenant that we can find to fill this location.

Industrial Condo Project(s): While the Edson location may have closed for us, with some concerted effort we may be able to develop this same concept in other areas. Several Industrial backed towns in the Alberta area deserve focus and we may well be able to get one or two off the go this year. I would hazard a guess that land purchases would be made and pre-sales would begin in first quarter 2006, construction starting in early third quarter 2006, and occupancy would be available in first quarter 2007.

Additional things I am keeping an eye on:

Home Purchase: I also have my own home purchase to look into. I have chosen an area or two, as well as a builder I'd like to consider - but I need to get back to Edmonton and get that started.

Home Theatre Installations: I am very lucky that my partner is such a self starter. This business has tremendous growth potential, and for that reason I must put some effort towards it.

Urban Market: Always on the backburner - but a very good opportunity nonetheless. Marketing Assistance is what I need here.

Divider Advertising Company: As the Car Wash chain enlarges, we are going to need such a division in house. Once again it comes down to sales and someone to sit and make them happen. Potentially, when there are three operating car washes I will have to hire someone on to make this happen. I'd love to offer a portion of the company during the start up period for this company but finding someone with the vision and creativity to make this happen is more difficult than I have originally thought.

Detroit, Michigan: Excellent deals abound. Might be worth a trip down to see what is going on at the auction house. But when, if ever, will the economy rebound?

South and/or East Africa: I definitely want to get some projects started in that area of the world. Research will probably continue until at least First Quarter 2007, but I expect a purchase soon after that.

Saskatchewan and North West Territories: Timetable would be similar to South and/or East Africa, but would be a lessor priority in the short term (3 year horizon).

Economic Outlook for North America: I don't think it's a secret I have a healthy interest in the state of the North American economy. Based on what I have read to date, it would appear that interest rates are going up in the short term - to max out around 5.50% by the end of 2006 as a prime lending rate. A lot of uncertainty exists in relation to higher fuel costs and decreased productivity in 2007 and at that time it is currently assumed that the interest rate may actually decrease.

Well, with a renewed sense of vigor - Here's to the future, and all it holds.