Imagining Downtown: A Global Comparison, presented by Brookfield Properties, brought three high-profile panelists to Edmonton to discuss the changes and investments the City and property owners need to make to revitalize downtown and keep up with similar-sized cities in North America.
The panelists, Larisa Ortiz, David Downey and Trent Edwards emphasized that downtown is the city and region’s identity and ‘calling card.’
The honest and engaging discussion identified four major takeaways that need to be a focus moving forward.
- Downtown Edmonton needs more residents. Currently there are around 13,000 people living in the core and most major cities have at least 25,000 residents living downtown.
- Downtown retail is overbuilt. Edmonton City Centre shopping centre’s vacancy stood out as a significant factor in downtown Edmonton’s overall challenges.
- Downtown proper is too big. Edmonton’s downtown is 2.6 square kilometres with around 1,200 businesses. The size stretches resources thin and Edmonton needs to consider concentrated investments with multiple offerings in a small area.
- Collaboration and sustained leadership are vital. Public, private, nonprofit, and post-secondary partnerships are what will move this all forward, because true downtown revitalization and development plans can’t be executed in a four-year political cycle.