The City of Lloydminster is located on the Yellowhead Highway approximately 250 km east of Edmonton and 275 km west of Saskatoon, straddling the border (4th Meridian) between Alberta and Saskatchewan. The estimated population, according to the Lloydminster Economic Development office was estimated at 24,028 persons (calculated by the 2006 Stats Canada census and estimated to increase 2.5% per year).  The current population (December 31, 2007) is estimated at approximately 26,000 persons.

Lloydminster is surrounded by some of the richest farmland in western Canada. The district enjoys a buoyant economy, mixed agricultural and oil industry base. The city centres a 2,500-square-mile oil field, said to be the largest concentration of heavy crude in North America. Oil activities, particularly servicing, refining, pipelining and upgrading, have been a predominant Lloydminster activity for many years.

One measure of economic activity in a city is the level of construction. Building permits for 2007 (obtained from the City of Lloydminster Engineering/Planning Dept.) were 114.5 million compared with 105 million in 2006 and 122 million in 2005.  The number of units have increased significantly in 2007 to 795 units compared to 555 units in 2006 and costs have again increased from the previous year.

The MLS residential sales statistics for the city show that the Saskatchewan side had 278 sales (41%)  and the Alberta side had a total of 400 (59%).  This includes only urban residential properties within the City of Lloydminster. The average house price on the Alberta side was $272,885 up from $214,944 in 2006 and the average house price on the Saskatchewan side was $210,998 up from $169,630 in 2006.  This is an  approximate 27% increase from the previous year for Alberta and 24.4% increase for Saskatchewan  The average house price is the total sale price of all residential sales divided by the number of sales.  The average house price on the Alberta side is approximately 29% higher than the Saskatchewan side. Notably, out of the 678 residential sales in Lloydminster, 107 or 16% were condominium ownerships.

The following table summarizes the MLS statistics and reflects the past 7 years:
 

*NOTE: Commencing in 2005, the statistics are only the City of Lloydminster.  Previous years included Lloydminster and the surrounding rural towns and acreages.

According to CMHC, apartment vacancy rates in 2007 decreased to 0% compared to 0.2% in 2006 and 0.7% in 2005.  There are no vacant apartments in the entire city. The nil vacancy rate again resulted in rental rate increases in 2007. The average apartment rent is up approximately 6% from October 2006 compared to a 10% increase in 2005. The 2007 apartment survey consisted of 1,720 suites, of which nearly one third are located on the Saskatchewan side of the border. The following is a chart for Lloydminster showing the average apartment rental rates from 2002 to 2007:
 

Local industries include the Heavy Oil Bi-Provincial Upgrader, the largest pre-manufactured home factory in western Canada (Nelson Homes), plus several other smaller secondary manufacturing and distributing companies, many of which are related to the oil industry.

Husky Oil  is the largest employer  in Lloydminster. Since the construction of the Bi-Provincial Upgrader in 1992,  Husky has built the 215 megawatt Meridian Co-generation Plant which reached full operating capacity in 1999.  Over the past year, work has been completed on western Canada's largest ethanol plant  which employs 25-30 full time permanent positions.  This plant supports the local economy by purchasing goods and services from local suppliers including approximately 350,000 tonnes of feedstock from local producers, produces approximately 130 million litres of fuel grade ethanol per year and produces approximately 134,000 tonnes of distillers dried grain with solubles (DDGS) per year.   Husky Oil has also announced a future expansion of the upgrader, however the timing of this expansion has not yet been determined.

Lloydminster has numerous parks and playgrounds, two golf courses and other leisure facilities, including an outdoor swimming pool and an indoor swimming pool and water slide facility.  Common Wealth Centre is a fairly new $25 million dollar multi-plex sports complex on the south side of the city .  Built in 2005, this multi-use recreational complex contains twin ice arenas, twin indoor fieldhouses, a fitness wellness center, a physiotherapy/sports medicine center, upper level running track, exterior oval speed skating rink, child care space, retail sports shop, concession kiosk, lounge/kitchen, etc. and services Lloydminster and the surrounding communities.   West Harvest Express is a newer hotel with direct access to the multi-plex via a second floor walkway, and was built to service the expected clientelle of Common Wealth Centre.

There is a full range of educational facilities, including the multi-million dollar Lakeland College Campus developed in the southwest sector of the city. This campus provides community college courses up to university degree courses in several disciplines. The Vic Juba Community Theatre is also a 555 seat arts and entertainment theatre on the Lakeland College Campus. 

As discussed above, the city has a diversified economic base which is expected to maintain and improve for the foreseeable future.

2.0   Study Area and Inventory 

The study area includes the entire city of Lloydminster. The majority of the strip retail is concentrated on 44th Street (Trans Canada Yellowhead Highway), which runs the entire width of the city. There is a secondary Highway commercial strip which is 50th Avenue, the Meridian, also known as Provincial Highway No.17. Excluded from this study is the retail component of the downtown core. The malls are classified as either an enclosed retail mall or strip development which includes the Cornerstone Power Center & "Big Box" retail. Excluded from the survey were any one-storey free-standing buildings on pads unless they were part of a mini power center, "Big Box" retail or in the Cornerstone Power Center. Home Depot is a new anchor added to the survey this year.

The total inventory is approximately 1,163,041 sq. ft., including one enclosed mall located in the centre of the city on the Trans Canada Yellowhead Highway on the Alberta side of the border. Anchors in this enclosed mall include Sears, Zellers and Safeway. CRU's (Commercial Rental Units) for mini power centers added this year into the strip category includes 17,300 sq. ft. which encompasses 2 new buildings on 50th Avenue. 

3.0   Retail Space Overview  

The Lloydminster retail market presently has 205,802 (17.7%) sq. ft. in the enclosed mall and 841,797 (72.4%) sq. ft. in strip retail on the Alberta side of the city and 115,442 (9.9%) sq .ft. on the Saskatchewan side. As a result, the addition of any retail development 10,000 sq. ft. or over can have a significant impact on the vacancy in that category over the short term. Establishing absorption figures over a period of time is one of the objectives of the study and will come into play in the future as historical information is available.

The information gathered and summarized in the following table is effective as of December 31, 2007.