Alberta’s government has joined forces with the City of Edmonton and OEG Sports & Entertainment (OEGSE) to drive redevelopment in downtown Edmonton and Exhibition Lands, pledging up to $183.4 million for key projects aimed at boosting economic growth, housing, and public spaces.
A memorandum of understanding was signed between the three partners to support the creation of an event park connected to Rogers Place in Edmonton’s ICE District, the demolition of the aging Coliseum at Exhibition Lands, and site servicing for the Village at ICE District.
The total cost of these initiatives stands at $408.2 million, shared among all three parties.
“Alberta’s government is proud to be partnering with the City of Edmonton and OEG Sports and Entertainment on this exciting plan to support world-class facilities and services, revitalize downtown Edmonton, and build new housing,” said Premier Danielle Smith.
“This investment will ensure that Edmonton continues to be one of Canada’s and North America’s leading entertainment and event districts.”
The provincial government’s contribution includes $158.4 million in grants and an additional $25 million through an extension of the Edmonton Capital City Downtown Community Revitalization Levy (CRL).
Edmonton’s City Council Executive Committee has already begun steps to approve a 10-year extension to the Downtown CRL to help fund these and other downtown revitalization efforts.
Alberta’s portion of the funding will cover $55 million of the $90 million cost to demolish the Coliseum and make site improvements, as well as $97 million of the $250 million needed for the event park.
Additionally, $31.4 million will go toward public infrastructure site servicing for the Village at ICE District, which will provide approximately 2,500 new residences, including affordable and attainable housing, as well as student accommodations.
“This funding is a promising initial step towards accelerating housing options and expanding economic opportunities in our city,” said Edmonton 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 neighborhoods.”
The event park alone is expected to contribute over $70 million to the local GDP once completed, and officials believe these projects will help attract visitors, encourage private investment, and create a safer, more vibrant downtown environment. Alberta’s government has stated that it will not build, own, or operate any aspect of the projects.
“We are proud of our work to date with the development of Rogers Place and surrounding facilities and look forward to building on that success through this new agreement,” said Tim Shipton, EVP of External Affairs for OEGSE.
“We still have lots of work to do to attract more residents, visitors, and investment downtown, and this agreement is a significant step in the right direction.”
Alberta’s commitment to Edmonton’s downtown revitalization is similar to its 2023 support for Calgary’s event centre project.
While Calgary received more provincial funding in total, Edmonton’s share represents a larger percentage of its overall costs, at 40% for the event park and Village at ICE District site servicing compared to Calgary’s 27% share.
These projects are part of a broader effort to address urban challenges, strengthen economic growth, and ensure Edmonton remains a dynamic destination for residents and visitors alike.