Edmonton continues to thrive and is quickly becoming a key destination in Canada and North America to visit, live and work. To help the city meet the demands of a growing population, Alberta’s government entered a memorandum of understanding (MOU) with the City of Edmonton and the OEG Sports & Entertainment Inc. to revitalize the downtown in March of 2025.
To fully meet the requirements set by the MOU, Alberta’s government has approved the City of Edmonton’s CRL plan and bylaw to extend the downtown CRL by 10 years, from 2034 to 2044. The CRL, along with other infrastructure commitments from the three parties involved in the MOU, will create jobs, expand affordable and attainable housing and revitalize the downtown core.
“Strong downtowns are the heartbeat of municipalities. Extending Edmonton’s downtown CRL will spur economic growth, create jobs, expand the housing supply and so much more. This will ensure that the city can build a brighter future for everyone who calls Edmonton home.”
“Alberta’s government is committed to building strong communities through innovative infrastructure partnerships. By working with municipalities and industry, we’re delivering real value to Albertans. When we invest in our communities, the economic and social benefits – including improved public safety and renewed public amenities – create lasting benefits across the province.”
CRLs enable municipalities to reinvest property tax revenue from new development back into their communities. By capturing the revenue from the increase in property values within the community revitalization zone, the extended CRL will allow the City of Edmonton to bring new life to the downtown by funding critical infrastructure, public spaces and amenities that attract people, businesses and investment.
“Edmonton's Downtown has benefited from intentional investments like the projects supported by the CRL. By working together with the Government of Alberta and private industry, we can get shovels in the ground faster on housing, entertainment spaces and infrastructure that Edmontonians deserve.”
A projected $976 million will be made available to the City of Edmonton through CRL revenues over the 10-year extension. This will enable the City of Edmonton to undertake additional projects to revitalize its downtown, as outlined in the revised Capital City Downtown CRL Plan. These projects include the Francis Winspear Centre for Music Expansion, Jasper Avenue’s new vision and more.
Quick facts
- Of the $183.4 million in provincial funding going towards downtown projects, $158.4 million will be provided through grants and $25 million through extending the term of the CRL.
- Of the projected $976 million in CRL revenues made available to the City of Edmonton, $806 million would come from the municipal property tax portion of the revenues, and $170 million would come from provincial property tax.
- The amended CRL plan includes an initiative to help fund private-sector developers in increasing attainable housing options.
- This will be the first CRL to incorporate such an initiative in collaboration with the private sector.
Related information
Related news
- Partnership to invest in Downtown Edmonton (March 7, 2025)