Today at City Hall, we discussed extending the Downtown Community Revitalization Levy (CRL) by ten years. While that might sound like dry municipal policy, it's actually about something we all care about: building a vibrant heart for our city.
What's a CRL anyway?
Think of the CRL as a special financial tool that works like this: we invest in catalytic infrastructure improvements downtown, those improvements attract new buildings and businesses, and then the new property taxes from those developments pay back the original investment. It's like planting seeds to grow a garden.
Since 2015, this approach has helped transform our downtown with projects like Rogers Place, Warehouse Park, and improved streetscapes. The results? Over $4.7 billion in new development and more than 3,500 new homes either built or under construction. Before the CRL, downtown was adding about 134 housing units a year. After? That jumped to 351 units annually.
Why extend it now?
Unfortunately, COVID hit downtown hard. Add in skyrocketing construction costs, and development has slowed significantly since 2022. Many downtown lots still sit empty or underused.
By extending the CRL for another decade, we could generate between $700-975 million to invest in projects that would kick-start more development. This isn't about spending more tax dollars - it's about redirecting future new property tax revenue in the downtown area to fund improvements in that same area.
What would the money go toward?
You may have seen recent news about partnerships between the City, the Province, and Oilers Entertainment Group. The proposed CRL extension would help fund several exciting projects:
- Event Park: A $250-million indoor/outdoor space that would be owned by the City but operated by OEG. Importantly, one-third of booking time would be reserved for community groups and non-profits at below-market rates. This would create a much-needed public space downtown for events, sports, and community activities.
- Village at Ice District: Infrastructure to support a new mixed-use development with up to 2,500 housing units north of Rogers Place. This would include various housing types – student housing, affordable options, and family rentals – helping address our housing needs.
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Other Strategic Investments:
- Cleaning up contaminated sites that nobody wants to touch right now
- Making our LRT entrances more welcoming and safe
- Small but meaningful improvements to public spaces that make downtown more inviting
The Province has already signaled strong support, including $106 million in the 2025 budget for downtown revitalization projects, with $52 million specifically for the Event Park.
Beyond the Ice District
The CRL extension isn't just about the Ice District. It's about creating the conditions for growth and vibrancy throughout our downtown. With additional projects focusing on streetscapes, green spaces, and neighborhood connections, the benefits would ripple across the entire downtown area.
Why should you care?
Even if you don't live or work downtown, a thriving city center benefits everyone. Downtown generates over 5% of Edmonton's property taxes while taking up less than 1% of the city's land. It's our most efficient tax generator.
More importantly, a vibrant downtown becomes a place we can all enjoy and take pride in - somewhere to meet friends, catch a concert, enjoy festivals, or just spend an afternoon.
Our City Plan envisions a downtown with at least 24,000 residents (nearly double today's population). Getting there requires some smart investments now.
What's next?
If Council approves this plan, we'll ask the province to extend the CRL regulation. With their approval, we can move forward on these catalyst projects.
I believe in this approach because we've already seen it work. The Downtown CRL has proven that strategic public investments can attract significant private development and create places people want to be.
What do you think? Is extending the Downtown CRL a good investment in Edmonton's future? I'd love to hear your thoughts.
Tim