The Canada Infrastructure Bank (CIB) has finalized a $100-million loan to Enoch Cree Nation, supporting enabling infrastructure for a $1-billion mixed-use development on its reserve west of Edmonton.

The infrastructure project will provide critical infrastructure, including water and wastewater mains, roads, and underground utilities for a 256-acre development that will feature an elders facility, cultural centre, and medical centre. The CIB investment advances the overall $1-billion development, according to federal officials and Enoch leaders.

The CIB investment is expected to generate up to 800 jobs for Enoch members and surrounding communities. Enoch Civil Construction, the Indigenous group’s heavy civil-construction company, according to CIB, will serve as the general contractor.

“This is a historic announcement for Enoch Cree Nation,” said Chief Cody Thomas. “Like many First Nation communities in Canada, we have struggled to address many infrastructure gaps that hinder our nation from moving forward. The CIB’s Indigenous Community Infrastructure Initiative has allowed our Nation to borrow the necessary capital to address some of the infrastructure gaps that we are currently experiencing at terms that are financially suitable.”

Construction is slated for completion in 2027. The loan follows a $15-million CIB investment in 2023 for upgrades to the reserve’s main transportation artery.

“Our second investment with the Enoch Cree Nation supports its ongoing work to develop their reserve and create a self-sustaining future for community members,” said Ehren Cory, CEO of CIB. “The enabling infrastructure will create jobs and needed road, water and wastewater infrastructure. The end result will be a new mixed-use development with office and retail space and community resources.”

The CIB funding is only being provided for the underground infrastructure, The Edmonton Journal reported. The

The First Nations Finance Authority is also supporting the nation’s growth with $194 million in financing for the expansion of Enoch’s River Cree Resort and Casino near West Edmonton Mall.

Pictured: Site of future Enoch Cree mixed-use development project north of Edmonton.

Photo: CNW Group/Canadian Infrastructure Bank