March 7, 2025
The City of Edmonton along with the Government of Alberta and OEG Sports and Entertainment (OEGSE) have joined together to accelerate the development of more housing, new public infrastructure and economic opportunities in the city’s downtown area.
“This funding is a promising initial step towards accelerating housing options and expanding economic opportunities in our city,” said Mayor Amarjeet Sohi. “The provincial government and OEGSE have been collaborative partners in this negotiation and though we still have far to go, I am hopeful that this commitment will signal Edmonton’s support for development and investment in our core neighbourhoods.”
Pending positive ongoing negotiations, including a public hearing, the total cost of all projects is $408.2 million, which will be shared among all three partners and deliver:
- A new event park located in ICE District
- A 2,500 unit community in the Village at ICE District
- Demolition of the Coliseum and site improvements of Exhibition Lands
“This type of investment in downtown helps answer the call of downtown vibrancy and could have a cascade effect to stimulate further investment,” said Edmonton City Manager Eddie Robar. “Coupled with two major LRT lines, enhanced safety between peace officers and EPS, and the investment in road and bridge infrastructure to improve getting to/from downtown, these projects are significant in shaping Edmonton for future generations.“
Event Park estimated at $250 million includes $97 million from the Government of Alberta, $69 million from the City of Edmonton (through an extension of the Capital City Downtown Community Revitalization Levy) and $84 million from OEG Sports and Entertainment. The Event Park will:
- Increase downtown vibrancy with low-to-no-cost events that bring more people downtown
- Generate positive publicity and enhance Edmonton’s reputation as a world-renowned destination
- Add over $70 million to the local gross domestic product (GDP)
Village at ICE District estimated at $68.2 million including $31.4 million from the Government of Alberta, $33.8 million from the City of Edmonton (through an extension of the Capital City Downtown Community Revitalization Levy) and $3 million from OEGSE. The Village at ICE District will:
- Expedite the development of 2,500 new housing units
- Stimulate an estimated $1 billion in private sector investment
- Create a new downtown park for Edmontonians to enjoy
- Enhance public streetscaping like wider sidewalks and pedestrian crossings
The Coliseum Demolition and Improvement Project estimated at $90 million includes $55 million from the provincial government and $35 million from the City of Edmonton. This project will:
- Fund public infrastructure in Exhibition Lands to create a unique, centrally-located infill urban community that is well-connected to downtown and other areas of the city.
Last year, Edmonton saw more than 64,000 people move to the city with another 100,000 new residents projected by 2026. As Edmonton continues to balance this unprecedented growth while maintaining its position as the most affordable major city in Canada and fifth most affordable globally to live, it recognizes the need to respond to this growth with intentional investments in housing and business opportunities.
“We need to build more housing, enable more commercial opportunities and provide more public spaces to meet this increased growth,” said Kim Petrin, Deputy City Manager of Urban Planning and Economy. “The Village at ICE District will provide more housing choice in the downtown and the demolition of the Coliseum will help unlock the City’s second-largest urban infill site, the Exhibition Lands, adding another 3,500 more homes in a uniquely sustainable, transit-oriented redevelopment in one of Edmonton's core neighbourhoods.”
The City's investment in these projects will leverage funding from the Capital City Downtown Community Revitalization Levy and dollars previously allocated and approved in the capital budget. The extension of the Capital City Downtown Community Revitalization Levy was presented to Executive Committee on March 5 and will return to a future City Council Public Hearing.
“Edmontonians will be excited and proud to watch this next chapter of growth and development in Edmonton’s downtown unfold,” said City Manager Eddie Robar. “And we look forward to continued conversations with both parties as we work towards a final agreement approved by City Council.”
