Today marks an exciting milestone for Edmonton as the City, Province, and Oilers Entertainment Group (OEG) announced a transformative partnership for our downtown. While the Downtown CRL extension we discussed on Wednesday laid the financial foundation, today's announcement brings that vision to life through concrete collaborations. I want to take this opportunity to share why I strongly support this initiative, one that I believe will reshape our urban core for generations to come.

A Vision Worth Backing

I've always believed that smart investments in infrastructure pay dividends far beyond their initial costs. This partnership represents exactly that kind of strategic thinking - bringing together government and private sector resources to create something greater than any one party could achieve alone.

What excites me most about this collaboration is how it addresses multiple urban challenges simultaneously: housing accessibility, public gathering spaces, economic development, and downtown vibrancy. It's comprehensive city-building at its best.

The CRL: A Proven Success Story

We've already witnessed the CRL's effectiveness since its implementation in 2015. It has catalyzed our downtown's evolution through projects like Rogers Place, Warehouse Park, and enhanced public realms. The results speak for themselves: 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.

This isn't theoretical - it's proven. We've seen the CRL mechanism work in real time, creating a virtuous cycle of investment and growth.

Why I Support This Partnership

I firmly believe that our city building efforts are going to require unique partnership arrangements over the next decade.  The City simply does not have the financial resources to go it alone. And past experience shows that OEG is a partner that actually builds what they say they are going to build. 

This partnership makes sound fiscal sense for several reasons:

1. Leveraged investment: For every dollar the City contributes through the CRL, we're attracting multiple dollars from the Province and private sector.
2. Self-funding mechanism: The CRL works by capturing future property tax growth within the downtown area and reinvesting it right back into that same area. This isn't about raising existing taxes - it's about harnessing the value of new development.
3. Economic multiplier effects: The construction jobs, permanent employment, and increased tourism will benefit our entire city's economy. For perspective, just the first three rounds of the Oilers playoff run generated an estimated $179 million in economic impact, including more than 60,000 overnight stays in Edmonton hotels. These numbers demonstrate the powerful economic engine that downtown attractions can create.
4. Housing diversity and accessibility: With 2,500 new housing units planned just in the Village at Ice District, we're creating more housing choices at a critical time. Last year alone, Edmonton welcomed more than 64,000 new residents, with projections indicating another 100,000 will arrive by 2026. This rapid growth demands bold action on housing. The development will include housing ideally situated near MacEwan University, attainable housing options, seniors housing, and family-friendly rentals - all directly connected to public transit. With its proximity to campus, these new housing options will give MacEwan students more choices to live downtown, strengthening the connection between the university and our city center.

The Broader Vision

While the CRL extension is important, this partnership goes beyond a single financing tool. It represents a comprehensive approach to downtown revitalization that includes:

• Community 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 space fills a critical programming gap in our downtown, offering year-round facilities for sporting events, cultural celebrations, and community gatherings. With retractable canopies outdoors and versatile indoor spaces including meeting rooms and classrooms, it creates opportunities for minor hockey, youth soccer, basketball leagues, and countless community activities. Connected to both Rogers Place and the LRT, it will be accessible to diverse groups throughout Edmonton.
• Village at Ice District: A vibrant, mixed-use neighborhood with diverse housing options that will bring thousands of new residents downtown.
• Strategic Investments: From cleaning up contaminated sites to improving transit entrances and creating welcoming public spaces, we're addressing the barriers that have held downtown back.

Community Input and Next Steps

It's important to note that this announcement represents the beginning of a process, not the end. There will be significant opportunities for community consultation and public input as we move forward. Many details still need to be finalized, and I'm committed to ensuring Edmontonians have meaningful input into how these spaces will function and serve our community.

I believe the success of this initiative depends on it truly reflecting the needs and aspirations of our city. The one-third community access provision for the Event Park is a good start, but we need to work together to ensure this facility genuinely serves the public interest.

A Once-in-a-Generation Opportunity

What convinces me most that this partnership deserves support is that it represents a rare alignment of provincial, municipal, and private sector interests. The Province has committed substantial funding, OEG is making major investments, and the City can leverage the CRL to maximize the impact of our contribution.

This kind of opportunity doesn't come along often. When partners are willing to invest alongside us, with a proven mechanism like the CRL to ensure financial sustainability, it's the right time to act strategically.

Why Every Edmontonian Should Care

Even if you rarely visit downtown, a vibrant 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.
• Great cities have great downtowns that attract talent, investment, and opportunity.
• A thriving downtown becomes a place we can all enjoy and take pride in - somewhere to meet friends, catch a show, enjoy festivals, or just spend an afternoon.

Moving Forward Together

Our City Plan envisions a downtown with at least 24,000 residents (nearly double today's population). This partnership gives us a concrete pathway to achieving that vision through strategic collaboration.

As we move forward, I'll continue to ensure this collaboration delivers the public benefits promised while protecting taxpayer interests. I believe the extensive public booking provisions for the Event Park, the focus on diverse housing options, and the overall structure of the partnership reflect a balanced approach that serves our city well.

I believe in collaborative city-building because I've seen it work. The Downtown CRL has proven that strategic public investments can attract significant private development, creating places people want to be. With the right partners, clear agreements, and appropriate oversight, we can create a downtown that serves all Edmontonians while strengthening our city's economic foundation. 

What do you think? Is this partnership a good investment in Edmonton's future? I'd love to hear your thoughts.

Tim