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$5 Billion Dollars of Investment Transforms Downtown Edmonton

News Release

$5 Billion Dollars of Investment Transforms Downtown Edmonton

Downtown Edmonton

Senior business and community leaders showcased Downtown Edmonton’s momentum from the 16th floor of EPCOR tower. “When you see 25 cranes dominating the skyline, you know something big is happening, and we’re all proud to be part of the transformation,” says Councillor Scott McKeen.

Representatives from more than a dozen organizations shared their excitement and plans for the many projects under construction and the benefits and impacts Edmontonians will see over the next decade.

“The new downtown vibrancy and momentum is unmistakable.” said Jim Taylor, President of the Downtown Business Association. “There’s about $5 billion in new condos, office towers, hotels and infrastructure under construction or planned for our downtown. When you put it all together, it’s incredible.”

The numbers show the scope of change already underway:

  • In just two years, the amount of underdeveloped land decreased by 17%.
  • Over 1,000,000 square feet of land in the core comprises active construction sites. That is about 62 NHL hockey rinks.
  • There is 6.6 million square feet of floor area under construction. That’s even bigger than West Edmonton Mall.
  • Over 1,100 residential units are currently under construction. Another 3,300 more have been announced by developers.

Over the next few years, downtown builders and leaders—big and small—will be undertaking activities to celebrate downtown and make it easier for Edmontonians to share in the excitement. A celebratory visual marker, a window in the shape of an “E”, will be displayed on all of the downtown public and private projects.

“We wanted a fun, common visual connector to raise interest and show our support for downtown,” said Councillor Scott McKeen. “There’s a real impact over the next few years to our citizens, businesses and visitors with so much development occurring. We’re asking Edmontonians to be patient, get informed and be excited, as we transform our city.”

The community partners are working together to inform and engage Edmontonians. “This is a downtown for everyone. Workers, students, urban dwellers, music and arts lovers, hockey fans, food aficionados – Downtown Edmonton is once again becoming the booming heart of our city and a hot destination for visitors,” said Chris Buyze, President, Downtown Edmonton Community League.

Councillor McKeen was joined by community partners, including: Downtown Business Association, Intuit, Stantec, PCL, John Day Developments, Qualico Commercial, Langham Development, Pangman Developments, MacEwan University, Downtown Edmonton Community League, Edmonton International Airport, The Katz Group, the Edmonton Chamber of Commerce and the Edmonton Public Library.

For more information visit edmonton.ca/GoDowntown.

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