Investigating the Impact of The City Centre Airport Redevelopment on Downtown Edmonton Prepared by: Dennis Bridges August 1, 2011 Prepared for the Downtown Business Association of Edmonton Table of Contents Investigating the Impact of The City Centre Airport Redevelopment on Downtown Edmonton .................................................... 1 Executive Summary .................................................................................................................................................... 1 Introduction ................................................................................................................................................................................. 1 Analysis .......................................................................................................................................................................................... 2 Implications & Recommendations ....................................................................................................................................... 4 Introduction ....................................................................................................................................................................................................................... 6 The Downtown Business Association of Edmonton ....................................................................................... 6 Interest in the City Centre Airport Redevelopment: ...................................................................................................... 6 Methodology: .............................................................................................................................................................................. 6 Research .............................................................................................................................................................................................................................. 7 The City Centre Airport Redevelopment............................................................................................................. 7 Design Elements ......................................................................................................................................................................... 7 Timelines ....................................................................................................................................................................................... 8 Transit Oriented Development ............................................................................................................................................. 8 The LRT ........................................................................................................................................................................... 9 Expansion ..................................................................................................................................................................................... 9 Details of Expansion ............................................................................................................................................................... 10 Effect of LRT Development on Property and Business............................................................................................... 10 Downtown Edmonton ........................................................................................................................................... 11 Live ............................................................................................................................................................................................... 11 Work ............................................................................................................................................................................................. 12 Shop ............................................................................................................................................................................................. 13 Play ............................................................................................................................................................................................... 14 Learn ............................................................................................................................................................................................ 14 Analysis ..............................................................................................................................................................................................................................15 Ridership Projections .............................................................................................................................................. 15 Projected Effects ...................................................................................................................................................... 16 Access to Capital ..................................................................................................................................................................... 16 Energy Use ................................................................................................................................................................................. 17 Downtown Business Association of Edmont on ii Economic Stimulus ................................................................................................................................................................. 17 Property Market Demand .................................................................................................................................................... 18 Centre of Excellence ............................................................................................................................................................... 19 Access to Skilled Labour ....................................................................................................................................................... 20 Increased Property Values ................................................................................................................................................... 20 Sustainability ............................................................................................................................................................................ 20 Development ............................................................................................................................................................................ 21 Conclusion .......................................................................................................................................................................................................................22 Implications for Business ....................................................................................................................................... 22 Increased Traffic via LRT ....................................................................................................................................................... 22 Market for Sustainability ....................................................................................................................................................... 23 Transportation ......................................................................................................................................................................... 23 Property Values and a Focus on Urban Development ............................................................................................... 23 Recommendations .................................................................................................................................................. 24 For Business .............................................................................................................................................................................. 24 For Future Research ............................................................................................................................................................... 24 Conclusion ................................................................................................................................................................. 25 Downtown Business Association of Edmont on iii Investigating the Impact of The City Centre Airport Redevelopment on Downtown Edmonton Executive Summary Introduction This is a report commissioned by the Downtown Business Association of Edmonton in order to assess the effects of the City Centre Airport Redevelopment on the Downtown core and identify any opportunities or challenges that may arise as a result. The report was commissioned in response to a decision by City Council in July 2009, to implement a phased closure of the City Centre Airport and redevelop the land into a world leading, environmentally sustainable, transit-oriented community for 30,000 residents. The design team chosen by council to make this vision a reality is the Vancouver based firm Perkins & Will. Their design incorporates innovative energy initiatives, dynamic landscape architecture as well as calculated and creative urban design and