Alberta's Major Projects
Edmonton Valleyline LRT Project - valued at $3.2 Billion and currently under construction.
The Alberta Government hosts a website called majorprojects.alberta.ca that outlines the inventory of all private and public sector projects across the Province that are valued at $5 Million and greater. It measures these projects historically by sector, and allows for differentiation between the stages of construction. This is really interesting in seeing where the bulk of our investment is and has gone across the province. As you can probably guess in Alberta, the majority of our investments revolve around the Oil & Gas and Pipeline sectors, but there is an abundance of development and support across all sectors which you can read about here!
Edmonton Galleria Arts & Culture Project - valued at $850 Million and currently proposed.
In this post, I've outlined the five largest projects across the province including as well as leaving out the Oil & Gas and Pipeline sectors. Due to the sheer scale of those projects, they tend to overshadow much of the great development that is occurring province-wide in all other sectors such as Infrastructure, Commercial, Industrial, and Tourism, to list a few. Across Alberta, there are currently 907 projects that are proposed or currently under construction. The highest value projects are listed below, with the first chart including the Oil & Gas sector, which inevitably affects all industry, and the second having that sector removed from the data to highlight some of the other great developments that are occurring.
A more comprehensive chart and breakdown of this data is available via the Alberta Major Projects website.
As you can see from the charts above, the projects are spread fairly equally between northern and southern Alberta, with a focus on building our public transportation infrastructure in both Calgary and Edmonton.
The Alberta Major Projects website also provides charts that outline the historical focus of our development projects over the past 10 years. Below you can see the chart on the left displays the projects separated by sector, while the chart on the right shows all the projects divided by their stage of construction. This allows us to view the historical as well as the future plans for our province. You can also look at just one individual sector (for example Tourism), to see how our spending and investment goals have changed over the years and looking forward.
I think that this is such a useful set of information that the Government of Alberta is providing us to gain tremendous insight into the future of our province. There are so many exciting projects that are in the construction stage already, or are proposed to begin soon, it's further insight that there is indeed a pulse in Alberta, despite what our media can sometimes lead us to believe. Having seen the ripple effects that one major project can have for our Edmonton economy and vision through the ICE District downtown, I am very optimistic for the future of our province.
CalgaryNEXT Multisport Fieldhouse Stadium project, to provide a new home for the Calgary Flames NHL team and the Calgary Stampeders NFL team - valued at $1.8 Billion and currently proposed.
For additional information on upcoming projects or commercial real estate, please contact Bronwyn Scrivens via the form below.