The City of Edmonton has launched a new $39M Infill Infrastructure Fund, which is set to significantly impact housing developments in our city. This initiative is part of the larger $175 million the City is receiving from the federal Housing Accelerator Fund and aims to tackle one of the most pressing challenges in urban development—supporting the necessary infrastructure for new housing in existing neighbourhoods.

With the city's population projected to increase by over 10% by 2026, it's clear that Edmonton needs more housing options to accommodate this growth. However, one of the biggest concerns with building new homes in established areas has been the costs associated with upgrading public infrastructure, such as water, storm, and sanitary systems, and mobility infrastructure like sidewalks and streetlights. Fortunately, this fund helps address that by covering up to 100% of eligible off-site infrastructure costs for multi-unit housing projects in designated urban center nodes and main street corridors.

Why This Matters for Real Estate Investors and Developers

For developers and real estate investors, this new fund presents a fantastic opportunity to create more housing while reducing upfront costs. If you're working on a housing project with 10 or more units, located near transit corridors, you could be eligible for this funding. Whether you're developing market-rate or non-market housing, you can apply for financial support to cover critical infrastructure needs that make your project viable.

The fund will be distributed on a first-come, first-served basis until July 2026, so acting quickly is essential. The funding ranges from a minimum of $100,000 to a maximum of $4 million per project, providing substantial support for large-scale housing initiatives. This could mean the difference between breaking ground on a project or waiting on financing for many developers.

How This Will Benefit Edmontonians

For homebuyers and renters, this initiative could help improve the affordability and availability of housing across Edmonton. As developers now have access to this financial support, more projects can move forward, and this will increase the variety of housing options across the city. This is especially important in the context of rising housing costs and a growing population.

In addition, the City of Edmonton is committed to creating sustainable, urban, and climate-resilient neighbourhoods. By ensuring that new housing developments are supported by adequate public infrastructure, the City is laying the foundation for vibrant, connected communities where Edmontonians can easily access transit and meet their daily needs close to home.

A Win-Win for Developers and the City

Breaking down these infrastructure barriers is a major step forward for Edmonton. The cost of upgrading infrastructure has historically been a deterrent for developers, especially when the first project in a neighbourhood has to front these costs, even though future developments also benefit. This fund helps alleviate that financial burden and makes Edmonton an attractive option for housing investment.

As Mayor Amarjeet Sohi pointed out, increasing the supply of housing is essential for maintaining Edmonton’s affordability and competitiveness. This fund supports those goals by making it easier for developers to build in areas where infrastructure upgrades are needed most.

If you're a developer or investor looking to take advantage of this opportunity, now is the time to act. The City of Edmonton has published a full program guide and is currently accepting applications for the fund. With the city's population continuing to grow, this is a fantastic time to contribute to Edmonton's future while benefiting from government support.

At Iconic YEG, we're always staying on top of new developments like this that impact Edmonton’s real estate market. If you're considering investing in or developing a housing project in Edmonton, feel free to reach out. We’re here to help you navigate the market and make informed decisions that will benefit you and our growing city.

Let’s build a better, more connected Edmonton together!

Modern cities are often characterized by sprawling infrastructures, towering skyscrapers, and the constant hum of construction. In the race to urbanize, the essence of community can sometimes be lost beneath layers of concrete and steel. Yet, there is a movement that champions an alternative approach, one that places culture at the heart of city-building. Calgary's East Village stands as a testament to this philosophy, where an entire locality's resurgence is anchored in cultural foundations rather than mere brick-and-mortar developments.

Reimagining Urban Development

The revitalization of Calgary's East Village represents a paradigm shift in urban planning. What was once a neglected area is now being celebrated as a vibrant cultural hub that pays homage to the city’s history while boldly striding into the future.

This transformation didn’t happen overnight. It began with a vision that recognized the latent potential of the forgotten space at the confluence of two rivers—a site rich with natural beauty and historical significance.

In a marked departure from conventional urban redevelopment, where emphasis is often placed on large-scale infrastructure projects, Calgary's approach was decidedly more organic. The aim: to breathe life into the east-village by nurturing its cultural soul. This innovative strategy has proven to be more than an aesthetic choice—it's an investment in creating a sustainable and flourishing community legacy.

The Cultural Heartbeat of East Village

The philosophy driving East Village's development recognizes the integral role culture plays in fostering a sense of belonging. Residents have witnessed this cultural bloom, with amenities and attractions popping up, transforming the neighborhood into one that's both a delight to live in and a destination to visit.

The culprits behind East Village's allure? Cultural anchors like the National Music Centre, which not only preserves Calgary's musical heritage but also propels it forward through live performances and exhibitions. The awe-inspiring Central Library doesn't merely stock books; it's a nucleus for community activities and cultural events.

Then there's the EV Junction and the RiverWalk initiative, both injecting life into public spaces by celebrating local creativity—from the hustling spirit of entrepreneurs to the soul-touching eloquence of artists. Not to forget the Simmons Building, whose transformation from a historic structure into a culinary mecca reflects the broader metamorphosis of the East Village—where history and modernity coalesce deliciously.

A Blueprint for Tomorrow

The East Village narrative is about more than seaside sunsets and stunning architecture. It's proof that community-centric development is not just viable but vibrantly successful,showcasing how cities can indeed be built around the needs and spirits of their residents.

The master planners behind this visionary concept,CMLC understood that a city's heart beats not through its freeways or skyscrapers, but through the communal experiences and cultural richness its environment fosters. By prioritizing these elements, Calgary has not only changed the complexion of urban living in East Village but has also set an unprecedented standard for future developments.

This "cultural first" framework has demonstrated that when public spaces celebrate and serve the community, urban centers are transformed from places people pass through to places where they belong.

The Proof is in the Community

The rebirth of East Village is a bold affirmation that cityscapes can indeed be reshaped with foresight and intentionality. The $400-million public investment that served as the initial catalyst has already prompted nearly $3 billion in private investment, signaling confidence in this communal approach.

The sentiments of many East Village residents who now view the district as a vibrant, welcoming home. Whether it's through the hum of the market, the rhythm of music at the National Centre, or the tranquil flow of the RiverWalk, each element of East Village converges to form an intricate mosaic—a diverse yet coherent cultural fabric.

As urban planners and visionaries study the revitalized East Village's brick paths and art-lined streets, they glimpse the power of culture as both an anchor and a sail. We glean invaluable lessons on how to build communities with people, not just structures, at the core.

This journey from decay to renaissance, driven by a commitment to cultural respect, exemplifies just how profoundly a city's identity can be reinvented. It underlines the truth that durable urban legacies are not built with concrete—they are woven from the rich tapestries of community life.

Ultimately, East Village is a clarion call to urban developers and city leaders worldwide. It implores us to pivot towards a vibrant model of city development rooted not in the quantity of our structures but in the quality of our communities. It is here, at the confluence of rivers and dreams, where we discover that cities can indeed be built community-first, creating permanent backdrops against which countless individual stories can unfurl.

The lesson is clear: when culture leads, legacy follows.

What are Edmonton’s Most Iconic Communities?

Stepping into the past, the El-Mirador was a standing testament to what it means to build not just a structure, but a thriving, interwoven community, a sanctuary in the urban sprawl. Its success wasn't merely architectural—it was the cultivated culture.

Here, I lay down the argument that our future endeavors must embrace the soulful approach of El-Mirador.

Introduction

El-Mirador's story is intricately woven into the Edmonton cityscape, a story of resilience and vision by Ralph Henry Trouth. In its heyday, El-Mirador was a vibrant community hub with a neighborly atmosphere almost unheard of in today's fast-paced world. This cultural cornerstone not only invited life into its halls but created a legacy that has lasted far beyond the buildings themselves.

The Success of El-Mirador

Imagined and brought to life through a personal touch and the unique vision of Trouth, El-Mirador went beyond architecture; it fostered an unparalleled sense of community. Neighbors knew each other by name, shared activities, and built lasting friendships within its sun-kissed walls. The open-air halls, communal courtyards, and inviting balconies encouraged social interactions, creating a cult-like culture where loyalty to the space and each other was evident.

Lessons for Future Development Projects

What can we learn from El-Mirador? Firstly, the imperative of integrating the community's needs and spirit into the development framework. The brilliance in creating a sustainable legacy lies not in the concrete and steel but in embracing intangibles—ensuring a development is not at odds with the community's soul but rather celebrates it.

Secondly, fostering a sense of stewardship and pride among the residents should be a priority. Developments should encourage ownership at all levels so that every inhabitant feels they are part of something larger than themselves, caretakers of a collective dream.

Lastly, the building of a strong brand identity is paramount, but not through marketing gimmicks or peripheral offerings—it has to be sewn into the very fabric of the physical space, as was the case with El-Mirador’s distinct Spanish Revival style.

Challenges and Considerations

Despite the clear pathway illuminated by El Mirador, replicating such a feat is not without its hurdles. Preserving the values upon which a community is built while ushering in inevitable growth is a delicate dance. Moreover, inclusivity and diversity cannot be afterthoughts; they must be foundational.

Conclusion

And so, the onus falls on us in Edmonton—as city planners, as developers, as citizens—to carry forward the legacy. We must demand more from the spaces we create and inhabit, elevate our expectations, and compel future projects to embody the principles that made El-Mirador a blueprint for community culture.

In its demise lies a calling: to stir advocacy for community-centered development, to raise our voices for developments with heart. It's time to move past the era of buildings-as-commodities and into one where communities are nourished and preserved.

The essence of El-Mirador should not be archived into the annals of history, but instead allowed to ignite an impactful conversation about how we shape the places we live in.

How many buildings in Edmonton can you name that have a cult like culture?  How can we create that today?

Let's craft our surroundings with the intention of fostering legacy, loyalty, and culture.

Advocate for community-centered development—the spirit of El-Mirador demands no less.

In a world where temporary thrills are often prioritized over lasting relationships, the strategy adopted by developers and property owners in the purpose-built rental market appears to be no exception. The zealous pursuit of immediate occupancy and rapid sell-outs has overshadowed an equally important facet of property management: nurturing tenant loyalty. But what if we refocused our lens to not just attract, but retain? Could this pivotal shift transform not only our revenue streams but the core of rental culture itself? Or do we even care?

While all developers and property owners across Canada are relishing in dropping vacancy rates, which for purpose built rentals nationally sits at 1.9% as reported by CMHC, January 2024; and Edmonton alone has dropped from 4.3% to 2.4% — it seems silly to question or challenge the status quo when we can easily just rely on provincial migration to take care of the profits, but what about in the longer term? According to an Angus Reid survey, only 36% of renters would recommend their current rental building to a friend or family member. This alarming statistic begs us to take a closer look at how we are managing and engaging with our tenants and building our long term legacies. Why would anyone be satisfied to lose tenants to their competitor just to buy them back with their next project?

An Industry Fixated on the New

Current industry tactics are akin to a revolving door—enticing newcomers with irresistible incentives like a free month’s rent or reduced deposits, only to usher them out as the next prospect arrives. At face value, this might seem like a win: properties remain occupied, and cash flow persists. However, beneath the surface, this model breeds a transient community, marked by escalating turnover rates and, consequently, a diluted sense of belonging.

The Cost of Transience

From my personal vantage point, I recall the constant flux of residents at one of the projects that my team managed the Marketing and Lease up from opening to a total sell out in under 7 months—a testament to the allure of newcomer perks. Over time, it became clear that the excitement of fresh tenancies was triumphing over the contentment of enduring ones. The message was crystalline: long-term residents are unsung heroes, their commitment unrewarded. Our building felt less like a community and more like a temporary lodging, raising questions about what could have been if loyalty had been incentivized.

Evidence Points to a Need for Change

Digging into the data, it's unnerving to find how fleeting residency has become. For instance, a study by ResidentRated revealed that the average tenant hangs onto a rental for a mere 27.5 months. In areas like Alberta, where turnover rates rest at 28.4%, these numbers hint at a culture of seasonal residency, rather than sustained tenancy. Such statistics beckon us to reimagine our approach to tenant engagement and rewards.

Counter Arguments: A Necessary Dialog

Yes, the short-term rental gains and resale metrics may paint a rosy picture, enticing some to declare the status quo triumphant. Critics might even argue that it's up to the residents, not the developers, to forge communal ties. There's also the apprehension that loyalty incentives could be exploited, leading to complacency and potential losses. While these counterpoints merit contemplation, they overlook the long-term value embedded in a stable, invested tenant base.

Envisioning a Future of Loyalty and Community

It’s time to craft a new narrative, one that valorizes tenant loyalty and community coherence. What if, instead of transient perks, we established rich, enduring cultures within our buildings that cultivate tenant satisfaction and steward long-term occupancy? Imagine the upsurge in desirability for a property where tenancy is a badge of honor, not just a financial transaction.

Making the Case for Loyalty

An overhaul is in order—a move from fleeting courtships to long-lasting relationships. Tenants should not just feel housed but valued, their perpetuation celebrated. Financial incentives earmarked for transitory occupants could be reallocated to honor those who have made the property their long-term home. Such tokens of appreciation have the potential to foster a loyal community, hungry to stay and contribute to the property's legacy.

Final Thoughts: The Path Forward

Developers and property owners stand at a crossroads where the lure of quick turnover could give way to the stability of resident fidelity. As industry stakeholders, we hold the power to either perpetuate a culture of evanescence or to embed a lasting legacy of community and commitment. By flipping our focus from short-term allure to long-term loyalty, the industry could witness a transformative shift—one measured not just in temporal gains but in the enduring spirit of community that permeates through every brick of a truly successful rental development.

Ultimately, the choice lies in our hands: chase the immediate windfall or invest in a future where rental buildings aren't just spaces, but sanctuaries that tenants are proud to call home, year after year.

3 Tips to Remember

1. Tenant turnover is costly—investing in retention could be more profitable in the long run.

2. A sense of community and belonging leads to happier, longer-term residents.

3. Rewards for loyalty benefit both the tenants and the property's reputation, potentially leading to higher demand and waitlists for future projects.

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