Indigenous investment adds momentum to Edmonton downtown development

Wiikwemkong First Nation purchased the Ice District site at 10308 103 St NW for $65.25 million, marking its first investment outside Ontario; city officials say the Nation is interested in a residential tower that could add hundreds of units.

Wiikwemkong First Nation has purchased the Ice District site at 10308 103 St NW in Edmonton for $65.25 million. The location currently holds the Connect Centre, a two-storey commercial complex anchored by Loblaws CityMarket. A planned 16-storey office tower for the site was cancelled after Canadian Western Bank relocated. Edmonton's downtown has faced higher office vacancy and slower retail activity, and officials have emphasized a need for more residential density. Key details: - Purchase and buyer: Wiikwemkong First Nation bought the Ice District site for $65.25 million. - Current site use: 10308 103 St NW is occupied by the Connect Centre, anchored by Loblaws CityMarket, with tenants including CIBC, National Bank and the Edmonton Oilers Official Team Store. - Cancelled plan: A previously planned 16-storey office tower was cancelled after Canadian Western Bank moved to Manulife Place. - First outside investment: The deal is reported as the Nation's first investment outside Ontario. - City response: Councillor Anne Stevenson said the Nation is keen to build a residential tower that could add hundreds of units and that the city is exploring residential incentives and staying in close contact with the Nation. Summary: The purchase is reported as a sign of confidence in Edmonton's downtown market and could support greater residential density and street-level activity. Next steps include ongoing discussions between the Nation and the city, and consideration of residential incentives to support the project. A timeline for any construction was not announced.