Edmonton Proposing $553M Action Plan To Revitalize Downtown Core

Edmonton city leaders are considering a new $553 million plan aimed at giving downtown a big lift. The plan was introduced this week to the Urban Planning Committee. City officials say the downtown area needs fresh energy after years of challenges—including a steep rise in empty offices and stores since the pandemic hit.

Back in 2010, Edmonton set out a long-term vision called the Capital City Downtown Plan. Since then, the downtown landscape has changed dramatically. The COVID-19 pandemic disrupted business and city life in ways no one expected. Even though a Downtown Vibrancy Strategy in 2021 brought some improvements, city staff say it’s time for a deeper, more coordinated approach.

The new action plan spells out four main goals. First, boost property values to improve tax revenue. Second, attract more people to live downtown. Third, make the area more lively and engaging. And fourth, cut the high rate of commercial vacancies that leave buildings empty and streets quiet.

To reach those goals, the plan includes eight major actions and 45 smaller steps. These actions range from investing in new roads, sidewalks, cleaning and safety measures, to spreading vibrant public events around the city centre. The city also wants to support more types of homes, expand distinct neighbourhood zones, and market downtown as a key part of Edmonton’s economy.

Funding for the plan is expected to come mostly from Edmonton's Downtown Community Revitalization Levy, about $511 million. This program borrows against future tax revenues to help support investment now. Another $15 million would come from housing funds, $2.5 million for parks, $9.5 million tied to earlier recovery efforts, and about $15 million still needs to be found.

For now, the plan is under review and not yet approved. It was presented to the planning committee for information this week. Officials noted this is not the final step but a starting point for action. Next, the city council must review the full draft and vote on budget approval and the extension of the revitalization levy. If passed, this north of half-billion-dollar effort would signal a major push to bring energy and growth back to downtown Edmonton.