Edmonton will look at using money meant for improving public spaces Downtown to subsidize private office building conversions instead.
City councillors at urban planning committee Tuesday eyed the Downtown Community Revitalization Levy (CRL) as the potential source of cash to incentivize developers to convert offices to residential buildings in hopes of simultaneously reducing Downtown’s high vacancy rates and getting more new homes built. Councillors voted 4-1 to commission a report studying how the CRL — which is funded by Downtown property taxes — may be used for such a program. The report is expected next spring. Read more →