Lets go back a year and consider the story of upgraders. First from the August 2007 article City's housing market going through a correction, not a crash
Realtors say they wouldn't be surprised if average prices fall by six or seven per cent from their July peak, before levelling off in early 2008. If so, that would take the average single-detached home price down to $388,000.This was a very loaded statement. "Roughly a dozen" was actually nine. The term "upgraders"was applied to a brand new sites, expansions or converting existing plants. The use of "are slated" actually meant some were under construction, some were approved to be build and some had filed applications. So if you were shopping for a house at the time and thought this meant 12 new upgraders in the Edmonton area you were wrong.
Roughly a dozen upgraders are slated for the Edmonton region. Thousands of new jobs will be created.
Here is another article from the Edmonton sun also from August 2007. Hold off on selling the house.
Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website.The list of upgraders can be found here in the Alberta Industrial Heartland section. There has been some recent developments regarding these project and I have done my best to consolidate them in a list.
House prices will go nowhere but up.
Shell Scotford Upgrader Expansion 1
Shell Scotford Upgrader Expansion 2
Sturgeon County upgrader
"considering deferral of any decision to construct the upgrader."
BA Energy Alberta Heartland Upgrader
North West Upgrader
"waiting to further finance"
Synenco Energy Northern Lights Upgrader
From what I can figure out it doesn't look good*
Statoil North American Upgrader
delayed two years
delayed two years?
*Total Energy may have bought this, not sure of the status of the project.
The two in this list under construction were started before the above article were written so they do not represent new projects. Any clarification to this list by reader would be welcome .