City could earn $45M from airport development: report
Gordon Kent
Edmonton Journal
Friday, June 06, 2014
The city would earn a $45-million profit over 25 years following the preferred option for developing the old City Centre Airport property, a new report says.
It would use a district energy system and see almost one-fifth of the 217-hectare site set aside for parks irrigated by stormwater, says the report released Thursday.
"This scenario achieves council's vision ... and it optimizes investment in environmental and social sustainability features."
While it would provide family housing, create employment opportunities and enable NAIT expansion, it could take longer to complete if demand drops for lowmedium density homes. Under this plan, the city would make $553 million, mainly from land sales, and spend $508 million on development, affordable housing and other costs...
gkent@edmontonjournal. com
© Edmonton Journal 2014
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