Edmonton is working hard to accommodate rapid growth. With a projected population of 2.1 million in 50 years, long term land use plans to support new residents, industry, transportation, facilities, social amenities and underground infrastructure are happening now. As the hub for employment, education, business, recreation as well as medical and social services, Edmonton’s sustainable growth is important to the region.
Whether you live in Calmar, Gibbons, Stony Plain or Ardrossan, keeping Edmonton a strong hub benefits everyone in the region. Citizens rely on skilled professional services to support their businesses and daily lives. Seventy per cent of the region’s population lives in Edmonton. Edmonton’s current population of 878,000 in a region of 1.2 million provides the mass population to attract and retain top talent in sectors such as healthcare, business, services and investment to enhance quality of life in the region.
75 Percent of Edmonton’s Population Will Soon Live on Six Percent of Alberta’s Land
By 2041, almost eight out of 10 Albertans are expected to live in the Edmonton – Calgary corridor. The Government of Alberta says urbanization will continue with the majority population living in the Edmonton and Calgary metropolitan areas. The Edmonton region is projected to have 34 per cent of the provincial population in 2041. Accommodating future growth remains critical.
Edmonton’s Downtown Core Growth Cause for Optimism
Edmonton is investing and developing large-scale projects and infrastructure that are catalysts for benefits regionally. Edmonton has invested $488M in downtown with projects such as Rogers Place, the Quarters Downtown and drainage infrastructure to service the many new towers. These investments help catalyze up to $4.8B private and public projects planned for the city’s core. Investments are also occurring in transportation and roads such as the Metro Line and Valley Line LRT (City investing $928M into total $2.5B) and the Queen Elizabeth II 41 Avenue SW Interchange (City investing $72.5M into total $205M).
Those interested in Edmonton’s real estate investment market and Oilers fans alike are ecstatic about the NHL’s Edmonton Oilers having officially moved into the $480-million Rogers Place. Edmonton’s new arena, which is ready to open the 2016-17 NHL season, is a shining example of a pro sports facility with spinoff benefits to the local economy. It has a well laid-out urban design plan, and excellent links to public transportation. By developing an entertainment district around the arena, hundreds of local amenities will be available for nearby residents.
As the cost for homes in an area increases with new amenities, the result is greater housing demand. Supporters of stadiums believe that their creation and presence produces jobs during construction and operation, attracts other businesses to the area, and increases spending in the community. For many residents in Canada, the largest share of their personal net worth is tied directly to the value of their homes and investment properties, so these issues are of great importance.
The abovementioned investments are increasing quality of life and creating more jobs, housing, and services while facilitating significant movement of people and goods to benefit Edmonton and the region. Working collaboratively with government, municipalities and businesses enables Edmonton to keep providing the diversity of services required for a thriving and exciting future in our region. Edmonton gets it.
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Braden Equities Inc. has been successfully managing apartment buildings in Edmonton since the 1970s. A lot has changed since then, but our commitment to the residents living in each building we manage has not. Contact us today.