Proposal Unveiled to Replace $400M Downtown Event Park with 5,000 Housing Units and Coliseum Restoration

Press Release: EDMONTON, AB — January 5, 2026

Proposal to Replace $400M Downtown Event Park with 5,000 Housing Units and Coliseum Restoration

EDMONTON, AB – A new development proposal is challenging the City of Edmonton’s current $400-million plan for a downtown “Public Event Park,” suggesting instead a “Housing First” approach that would double affordable housing units downtown while restoring the historic Edmonton Coliseum as the city’s premier mid-to-large scale event venue.

The Problem with the Current Plan

The current proposal for the northwest corner of 101 Street NW and 104 Avenue NW (Ice District) allocates $400 million for an indoor/outdoor space with a limited capacity of 2,500 people indoors and 6,500 outdoors. Critics argue this investment is inefficient given the lack of total climate protection and the high cost per seat.

The “Better Opportunity” Solution

The counter-proposal, spearheaded by local advocates and discussed with members of City Council, focuses on two key pillars:

1a.) Doubling Downtown Density: Instead of a limited-capacity park, the plan proposes doubling the planned housing on the site from 2,500 to 5,000 affordable and rental units. This would include ground-floor retail and services to create a self-sustaining community, wooing major chains back to the core.

1b.) Additional Downtown Density Opportunity: An additional 2,500+ housing units could be accommodated through the redevelopment of land currently for sale in the heart of Downtown Edmonton. This would enable the long-awaited reconstruction of the former Bank of Montreal / Tegler Building site, eliminating what is now widely regarded as an eyesore left by demolition.

The proposed development would qualify for federal rapid housing grants, while new residents would benefit from a true “shop-till-you-drop” downtown lifestyle, with public transit and taxi access immediately outside the building.

Underground parking would include rentable spaces for vehicles, bicycles, and licensed golf carts approved for downtown travel, creating a complete park-and-ride experience. Parking spaces could be optional, bundled into rental agreements, or made available to guests and visitors.

2.) Restoring the Edmonton Coliseum: Rather than spending $400 million on a new build, the plan calls for the restoration of the Coliseum. With a proven indoor capacity of over 17,000+ seats, the Coliseum offers a weather-proof, year-round solution that outclasses the proposed park in both economic stimulus and event scalability. In reusing the Edmonton Coliseum we save all levels of government a minimum of four (4) billion dollars in new construction with the added benefit of lower property taxes.

Strategic Growth and Fiscal Responsibility

With the Edmonton Census Metropolitan Area (CMA) surpassing 1.6 million residents and growing by nearly 9% between 2022 and 2024, proponents argue the city needs high-capacity infrastructure, not small-scale outdoor lots.

“From an economic stimulus and revenue side, the Coliseum option far outclasses the current plan,” says the proposal lead. “By reallocating city and provincial funds, we can support an Education Centre, a Community Medical Centre, and double the investment in affordable housing.”

Addressing the “Seat Sale”

A key hurdle addressed in the proposal is the previous sale of Coliseum seating by Explore Edmonton. The plan suggests that a portion of the $11 million allocated to Explore Edmonton in the new budget be used to source and install upgraded, ergonomic theatre seating, noting that high-quality used options are readily available at a fraction of the cost of new construction.

Next Steps

Detailed business plans, restoration costs, and a full benefit analysis will be presented in a forthcoming release. The proposal has already seen preliminary discussions with city officials, including Mayor Andrew Knack and Councilor Anne Stevenson, regarding the value of attendance requirements for attracting international events.

Media Contact:

Greg N Reimer
CEO President & Head of Business Development
The Goldfire Group
📍 Edmonton, AB
📞 Office: (780)457-0799
📱 Mobile: (780)556-8097
📧 Email: gregreimer@thegoldfiregroup.com
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