Alberta, Edmonton partner on $408M downtown revitalization project

Alberta’s government is joining forces with the City of Edmonton and OEG Sports & Entertainment (OEGSE) to invest in the revitalization of downtown Edmonton, aiming to enhance economic growth, housing, and public infrastructure.

A memorandum of understanding (MOU) has been signed by the three partners to advance plans for an event park and public realm space linked to Rogers Place in the ICE District, expand housing options, and support infrastructure development, including site servicing for the Village at ICE District and demolition of the old Coliseum at Exhibition Lands.

Discussions are ongoing, but funding for the project is included in Alberta’s Budget 2025, pending a final agreement among all stakeholders.

"Alberta's government is proud to be partnering with the City of Edmonton and OEG Sports & Entertainment on this exciting plan to support world-class facilities and services and revitalize downtown Edmonton," said Premier Danielle Smith.

"This agreement would ensure that Edmonton continues to be one of Canada's and North America's leading entertainment and event districts."

The initiative aims to create 2,500 new housing units and provide year-round access to sports, cultural, and entertainment activities while improving public safety.

The total cost for these projects is estimated at $408.2 million, shared among all three partners.

As part of the broader strategy, the City of Edmonton has proposed extending the Capital City Downtown Community Revitalization Levy (CRL) beyond 2034.

The extended CRL would help fund infrastructure improvements, including site servicing for the Village at ICE District and the proposed event park. The park alone is expected to contribute over $70 million to the local GDP and generate up to 1,400 jobs during construction.

“This investment will boost our economy and solidify Edmonton’s status as a global events hub,” said Edmonton Mayor Amarjeet Sohi.

“I’m pleased the Government of Alberta is investing in our city. Municipalities need provincial support to manage record growth, and this funding will support diverse housing projects, including needed affordable housing.”

Tim Shipton, EVP of External Affairs for OEGSE, highlighted the project’s impact on the city’s economic and social landscape.

“We are proud of our work to date with the development of Rogers Place and the surrounding facilities, which have become catalytic drivers of investment and development in Edmonton’s downtown core,” Shipton said.

“This agreement is a significant step in the right direction toward creating great public spaces that will add to the community programming, activity, and vibrancy of downtown Edmonton, and will bring public infrastructure investment to encourage development of much-needed housing in our city.”

A more formal announcement from the province, city, and OEGSE is expected in the coming days as the partners finalize details of the agreement.