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Alberta & Prairies  + Apartments  | 
Edmonton's industrial real estate market has recorded its 14th consecutive quarter of positive absorption according to a new Avison Young report.

Edmonton City Council Approves Priority Growth Areas

Edmonton city council has approved a rezoning bylaw that targets several key neighbourhoods for rapid development as the city’s population continues to grow.

The bylaw, passed at a recent council meeting, affects parts of the Wîhkwêntôwin and Garneau neighbourhoods, as well as areas along 124th Street, 156th Street, and Stony Plain Road.

These locations were identified by city administration as “priority growth areas,” described in a city report as nodes and corridors expected to experience the most growth in the short term.

Despite opposition voiced at a recent public hearing, and an unsuccessful attempt to remove part of the Garneau area from the plan, council ultimately passed the bylaw unanimously at third reading, CBC reported. Councillors Karen Principe, Jennifer Rice and Tim Cartmell had opposed the measure during first reading.

According to the city’s report, the rezoning will help implement the long-term vision of both the City Plan and District Plans and encourage more housing and business development in the specified areas.

The rezoning allows for a range of developments, including mixed-use, large- and medium-scale residential, and small- to medium-scale transition residential zones — paving the way for more medium- and large-scale housing and commercial projects.

City planners selected five areas based on criteria such as transit access, market demand, and the feasibility of proactive rezoning, according to CBC.

Pictured: Edmonton

Photo: Shutterstock

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Inside The Story

City of EdmontonAmarjit Sohi

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

  • ◦Development
  • ◦Financing
  • ◦Policy/Gov't
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