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Welcome to The Edmonton Newsletter!

In today’s edition:

• Connor Brown sticking with Oilers

• Upcoming Monster Jam Event

• A deep dive into the life of Stanley A. Milner

• And more…

Quote of the Week

“Random thoughts have the potential to create a chaotic reality.”

― Steven Redhead

Sponsored

Yes, this platform’s 77% return is an outlier – but the rest may surprise you

The news is true: Masterworks’ 15th sale just weeks ago returned an impressive 77% to investors. While such a high return is an outlier for the blue-chip art investing platform, you might be wondering what their prior sales delivered. Glad you asked… 

Every one of their sales has returned a profit to investors, with 12 of them delivering double-digit returns, and 1 delivering triple-digit annualized returns. 

In full, Masterworks has over 300 paintings and their 16 exits have delivered: 32%, 39.3%, 36.2%, 27.3%, 9.2%, 33.1%, 21.5%, 17.8%, 13.9%, 35%, 10.4%, 325.5%, 4.1%, 17.6%, 77.3%, and 13.4% net annualized returns. 

Every sale but one outperformed the stock market in the period from when it was offered to when it was sold. 

With performance like that, offerings on the platform can sell out in minutes. However, Local News Newsletter readers can skip the waitlist to join with this exclusive link.

Edmonton Trivia

Here is your trivia question of the week. The answer will be shown in next week’s newsletter. Which do you think it is? No cheating!

Which Edmonton landmark is a performing arts complex located on Sir Winston Churchill Square?

A) The Citadel Theatre

B) The Winspear Centre

C) The Art Gallery of Alberta

D) The Edmonton Convention Centre

Last Week's Trivia: In Edmonton, which bridge is known for its distinctive 'basket-handle' arches? Answer: A) Walterdale Bridge

The Best Stories of the Week

💼 Business

Workers at Edmonton’s Kingsway Ave. Starbucks vote to join the United Steelworkers union. (link)

🏦 Finance

Audit finds Edmonton needs to improve access, equity in recreation. (link)

🏒 Sports

Healthcare Solutions Sponsors the Edmonton Half Marathon. (link)

Oilers sign winger Arvidsson to two-year contract, extend Perry, Brown. (link)

Connor Brown sticking with Oilers on one-year contract. (link)

Upcoming Events

Here are some events that are happening in our city this week. There is a good mix between sports, entertainment, conferences, concerts, and more.

Sports

🏀 Monster Jam
Rogers Place Edmonton, AB
Saturday July 13 | 1:00 PM | (more info)

Concerts

🎸Orville Peck - Stampede Tour
Midway 6107 104 St NW Edmonton,
Thursday Jul 11 | 7:00 PM | (more info)

🎵 Punjabi Virsa
Edmonton EXPO Centre Edmonton, AB
Saturday July 13 | 7:00 PM | (more info)

Family

🥋 Family Paint Party
Tony Roma's 17115 100 Ave NW Edmonton,
Thursday, July 11 | 7 - 9pm MDT | (more info)

🔍 BKS Dance Party at the Playground
Cloverdale Community League 9411 97 Avenue Northwest Edmonton,
Saturday, July 13 | 4 - 8pm MDT | (more info)

Image of the Week

Every week, I have a habit of making some AI art about our city.

This week, I typed in “Futuristic Edmonton with a focus on sustainability and renewable energy.” and this is what I got.

Let me know what ideas you have for this. I really enjoy making these types of photos.

Edmonton History

1970: The establishment of West Edmonton Mall, once the world’s largest.

In 1970, Edmonton embarked on a project that would eventually redefine not just the city's retail landscape but also its international standing: the establishment of West Edmonton Mall (WEM). Initially opened with modest dimensions, WEM underwent several expansions to become, at one point, the world's largest shopping mall. This colossal retail and entertainment complex signified Edmonton's ambition and innovation, drawing visitors from across the globe. Its vast array of shops, attractions, and services transformed the concept of shopping malls, combining traditional retail with entertainment and leisure facilities, including an indoor amusement park, waterpark, and a replica of the Santa Maria ship, among others.

The impact of West Edmonton Mall on the city was profound, bolstering the local economy and putting Edmonton on the map as a tourist destination. The mall not only created thousands of jobs but also stimulated growth in surrounding areas, leading to developments in infrastructure, hospitality, and other sectors. WEM became a microcosm of global culture within Edmonton, offering a diverse range of products and experiences that reflected the city's multicultural population. Its success demonstrated the potential for integrating retail with entertainment and leisure, influencing the design and concept of shopping centers worldwide.

Over the years, West Edmonton Mall has remained a vital part of the city's identity, despite the evolution of retail and the rise of online shopping. It continues to attract millions of visitors annually, adapting to changing consumer preferences with new attractions and stores. The establishment of WEM in 1970 marked the beginning of a new era for Edmonton, showcasing its capacity for innovation and its appeal as a destination. The mall's legacy extends beyond its once-held title of the world's largest, representing Edmonton's spirit of ambition and its role in pioneering new retail and entertainment experiences.

Famous Edmontonians

Douglas R. Gorman: The Early Years (1926–1945)

Born in Edmonton, Alberta, in 1926, Douglas R. Gorman was raised in a city on the brink of significant economic and social change. His early life was characterized by a strong sense of community and an early interest in the burgeoning field of real estate and development. This foundational period instilled in him the values and vision that would later drive his contributions to Edmonton's landscape.

Education and Early Business Ventures (1945–1960)

After serving in World War II, Gorman pursued higher education in business and economics, which laid the groundwork for his future endeavors. He entered the business world with a focus on real estate, quickly establishing himself as an innovative thinker and a keen observer of market trends. This period was crucial for developing the skills and networks that would support his later achievements.

Expanding Edmonton's Real Estate Market (1960–1975)

Throughout the 1960s and early 1970s, Gorman played a significant role in expanding Edmonton's real estate market. He was involved in several key projects that contributed to the city's growth, demonstrating a particular interest in commercial development. His efforts during this time helped to transform Edmonton into a thriving urban center, setting the stage for larger projects.

The Vision for West Edmonton Mall (1975–1981)

Gorman's vision for the West Edmonton Mall emerged from his desire to create a space that combined retail, entertainment, and cultural experiences in a single location. This ambitious project was inspired by his travels and observations of similar developments around the world. Gorman's leadership and innovative ideas were instrumental in moving the project from concept to reality.

Overcoming Challenges (1981–1986)

The development of the West Edmonton Mall faced numerous challenges, from financial hurdles to logistical and engineering complexities. Gorman's perseverance and problem-solving skills were crucial in overcoming these obstacles. His ability to negotiate with investors, work with city officials, and manage a large team of architects and engineers brought the project to fruition.

Opening and Success of West Edmonton Mall (1986–1990)

The opening of the West Edmonton Mall in 1986 marked a significant achievement in Gorman's career and in the history of Edmonton. As the largest shopping mall in the world at the time, it attracted visitors from across Canada and around the globe. Gorman's vision for a multi-use space was realized, significantly impacting Edmonton's economy and international reputation.

Connection to Edmonton (Throughout Life)

Douglas R. Gorman's connection to Edmonton was a constant throughout his life. His work, especially the development of the West Edmonton Mall, left an indelible mark on the city's landscape and identity. Edmonton not only benefitted from Gorman's vision and determination but also served as the backdrop for his most significant professional achievements.

Legacy in Urban Development (1990–1992)

Gorman's legacy in urban development extended beyond the completion of the West Edmonton Mall. He continued to advocate for innovative urban planning and development strategies that emphasized sustainability and community engagement. His contributions to the field were recognized both nationally and internationally.

Key Achievements

• Played a pivotal role in expanding Edmonton's real estate market and transforming the city's urban landscape.

• Led the development of the West Edmonton Mall, at the time the largest of its kind in the world, which became a landmark for the city and a model for future retail and entertainment complexes.

• Advocated for innovative urban planning and development, influencing the field beyond Edmonton.

Summary

Douglas R. Gorman's career was marked by visionary projects that transformed Edmonton's urban landscape, most notably the development of the West Edmonton Mall. His innovative approach to real estate and urban planning left a lasting impact on the city, contributing to its growth and international reputation. Gorman's legacy is a testament to the power of vision, perseverance, and the ability to turn ambitious ideas into reality, making him a key figure in Edmonton's development and in the field of urban development at large.

Connect With Me

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I would love to hear from you. Don’t be shy.

-Matthew Larsen

Follow me on Instagram: https://instagram.com/matthewblarsen 

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