Edmonton’s Smart Infrastructure Moves Fuel Real Estate Returns
Edmonton’s intelligent development moves have taken the city from underestimated to delivering some of the best real estate returns anywhere. Among the most recent developments is the announcement of the expansion of free public wif-fi services, positioning it as one of the most wired cities and helping to attract more young entrepreneurs and tech startups.
New construction projects in the province are set to boost Alberta’s wallet by over $15 billion, providing even more fuel for reaching out with new international offices to increase trade and investment. The new arena has been a staple in the news for a couple years now, but this is just the tip of the iceberg. There’s an additional $5 billion plus in new developments planned to revitalize Edmonton and launch it as a vibrant new world city. This is much different than the thoughtless rush to build that has plagued so many other prior boom cities around the world- often resulting in horrible construction. The LRT expansion that is bolstering Edmonton’s growth and expansion is utilizing recycled materials to build in a green and sustainable foundation from the ground up.
At the same time that Edmonton is literally exploding with growth on both residential and commercial fronts, Calgary is attempting to reign in horizontal spreading, requiring building density to maximize its tax base. However, opponents to these regulations argue that Calgary’s policies are simply giving the advantage to outlying towns and neighboring cities. In other words, it allows other tax authorities to collect the revenues while Calgary provides free public services to those commuting and doing business in the city.
The dense urban mass that is Calgary and the steep price tag that small units come with will also no doubt become a turn off for wealthier buyers and those that have become location independent. Not to mention businesses looking for better bargains and returns on space. This flow of wealth, residents and established companies to Edmonton will only further propel growth , appeal and status on the map for both Canadian and international workers, companies and investors.