TAS said:
For 354 units?
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Woops, I hallucinated that number in your post lol. Yes, for 354 units. The next 420 OEG is hoping to finish in 2029; the agreement just gives some wiggle room.
 
700 units in 8 years.

Wooooow.

We suck at negotiating.

We need 1000 units from OEG by 2030 or else this deal just makes no sense to me.

No one was asking for the event centre. There’s arguably not a huge need for it. The negative impacts on other venues aren’t being factored into these costs.
 
thommyjo said:
700 units in 8 years.

Wooooow.

We suck at negotiating.

We need 1000 units from OEG by 2030 or else this deal just makes no sense to me.

No one was asking for the event centre. There’s arguably not a huge need for it. The negative impacts on other venues aren’t being factored into these costs.
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One councillor did ask about competition and the answer came back that rather than seeing the event centre as competition, they see it as an opportunity to work together to bring in larger venues. The person answering pointed to Calgary and how their convention centre, Stampede Park, and Olympic facility work together to attract large-scale events.
 
BrettB said:
One councillor did ask about competition and the answer came back that rather than seeing the event centre as competition, they see it as an opportunity to work together to bring in larger venues. The person answering pointed to Calgary and how their convention centre, Stampede Park, and Olympic facility work together to attract large-scale events.
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But in Calgary I think it was stated the same group operates the main venues.

That said, when it came to Roger's Place, OEG dug in and required that the Coliseum not compete with the OEG arena. They didn't seem to favour competition then.

One of the things that annoys me about OEG, and there are a few, is how they walked away from building more housing in Ice District a couple of years ago - which is the #1 priority for our downtown and city. The were one of the beneficiaries like Stationlands in 2021 of tax free incentive and that would have been built now like The Switch.
But they walked away from that for the CWB Tower which would have only moved workers from one tower to another for OEG's benefit. And we know how that turned out.

I don't hate that an Event Centre is being built but OEG could do this on it's own and the province for some reason tied this trilateral deal to OEG.
 
IanO said:
High tides?

We need to bring more of those in and have them act more as a driver than they are now.

Expanding this kind of space is critical for activity in the core.
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Agreed. Or Sinek’s infinite game vs finite comes to mind.

But attrition can also happen. For how much taxpayers are investing, there needs to be real returns. There’s an opportunity cost to our priorities. Will 200mil spent this way be better than alternatives? Maybe this is our best way to leverage private dollars. I hope so. OEG has been a bit shady in the past though and this is shaking out to be much of the same imo.
 
The main motion passed; now council is dealing with some subsequents.
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Master agreement approved for event park and Village at ICE District
August 25, 2025

Today, City Council approved the Master Agreement between the City of Edmonton and the Oilers Entertainment Group (OEG) to develop the Public Event Park and the Village at ICE District. Along with the Government of Alberta and the OEG, the City is working to accelerate the development of more housing, new public infrastructure and economic opportunities in the city’s downtown area. In addition to creating new development in the ICE District, the signing of the agreement enables the City to access provincial funding to demolish the Coliseum and continue to progress work on Exhibition Lands.

The total cost of all projects is $408.2 million, which will be shared among all three partners and will deliver:
  • A new indoor/outdoor Public Event Park in the ICE District
  • A 2,500 unit community in the Village at ICE District
  • Demolition of the Coliseum and work to advance the early stages of the Exhibition Lands development
“This type of investment in downtown helps answer the call of downtown vibrancy and could have a cascade effect to stimulate further investment,” said Edmonton City Manager Eddie Robar. “We thank all our team members that had a part in getting this agreement negotiated and in place, as it was a lot of work and represents a huge step forward.”

The event park, estimated at $250 million, will increase downtown vibrancy with events that bring people downtown including low-to-no-cost events for the community as part of the Public Benefits Agreement. It will also generate positive publicity and enhance Edmonton’s reputation as a world-renowned destination, while adding to the local economy.

The preliminary work for the Village at ICE District, estimated at $68.2 million, will expedite the development of 2,500 new housing units and stimulate an estimated $1 billion in private sector investment. It will also lead to the creation of a new downtown park and enhance public streetscaping, including wider sidewalks and pedestrian crossings.

The Coliseum Demolition and Improvement Project, estimated at $90 million, includes $55 million from the provincial government and $35 million from the City of Edmonton. This project will fund the demolition of the Coliseum and the construction of public infrastructure in Exhibition Lands to help create a unique, centrally-located infill urban community that is well-connected to downtown and other areas of the city in the coming decades.

“These catalytic investments are going to set off the next round of transformational growth and development in our downtown, and these projects demonstrate the impact of real partnership for economic development,” said Puneeta McBryan, CEO of the Downtown Business Association. “It is encouraging for the Edmonton business community to see the Government of Alberta and City of Edmonton working together to take our downtown economy to the next level, coupled with the proven success and significant investment from their partners at Oilers Entertainment Group. We’re so excited to see all of this come to life."

The City will use revenues from the Capital City Downtown Community Revitalization Levy (CRL) to fund its portion of the Event Park and site servicing for ICE District projects. It will also leverage land development revenues already earmarked in the capital budget for the Coliseum demolition to fund other important early work in the Exhibition Lands development.

Council’s approval of the master agreement and associated capital profiles allows the City to execute the agreement with the OEG, which paves the way for all three projects to progress. The master agreement also ensures that grant agreements between the City and the Province must be executed, confirming the provincial funding contributions for all projects.
For more information:
edmonton.ca/eventparkagreement

Media contact:
Matt Pretty
Communications Advisor
Financial and Corporate Services
780-886-7552
 
Only 354 guaranteed units out of this huge amount of funding is disappointing for sure. The City and OEG better make this a quality development, if the Event Park does add an important element to Downtown and becomes a catalyst for businesses and other development nearby then I'll be happy with it, otherwise this money likely could have been put to better use.

I will remain optimistic that we get a quality product here, I'm hopeful OEG won't cut costs and cheap out on development directly adjacent to the current built out portion of ICE District. This will be a very interesting one to look back on in the future.
 
Andrew Knack voted against this, as expected. There's a chance I may still vote for him since I've agreed with him on almost everything else but it won't be a slam dunk. Not with Michael Walters as a viable alternative (so far).


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