ICE District is a unique and exciting Edmonton success story! Way beyond just hockey, ICE District continues to be transformational when it comes to the “business of Edmonton’s downtown.”
As development and construction continues, ICE District continues to earn its creds. National and international stats and trends rave about ICE District as “a transcendent, modern, urban destination and gathering space,” ranking it as the largest mixed-use sports and entertainment district in Canada and the second largest in North America, after Hudson Yards in New York.
The initial C$2 billion investment by the City of Edmonton and the Katz Group (OEG), owners of the NHL’s Oilers, has transformed 26 acres of contiguous land, formerly large swaths of often-unused surface parking lots and a downtrodden bus depot, into Canada’s largest mixed-use real estate development.
The 2016 opening of Rogers Place sparked Edmonton’s new era of activity and downtown excitement. In 2017, Edmonton Tower happened, followed by the 2019 opening of the Stantec Tower and the JW Marriott Hotel, connecting ICE District to the rest of downtown via Edmonton’s expansive indoor pedway system. Also in 2019, the concrete was poured to develop the ICE Plaza skating rink, and ICE District’s SKY Residents and Signature Suites were ready for occupancy.
Today, after almost 10 years of growth and surging popularity, ICE District continues as Edmonton’s “heart of the city,” adjacent to the downtown financial district and immediately north of the downtown government district.
More than a dozen years ago, and not without its share of controversies and local debates, the massive deal to build the arena and the surrounding district came together.
The total bill was $613.7 million, with $483.5 million of that just to make Rogers Place happen. OEG paid $132.5 million for its share of the arena cost, with $112.8 million of its contribution being paid to the city as rent over 35 years. The city paid $226 million for its portion of Rogers Place construction costs, including funding from a community revitalization levy (CRL) and a ticket surcharge for $125 million of funding.
Although the numbers are complex, and while Rogers Place is “the star of the show” and the main attraction, it is a standalone business. Katz’s OEG operates Rogers Place, pays all its operating and maintenance expenses and receives all operating revenue. In return, the Oilers signed a location agreement to stay in Edmonton for 35 years.
Other ICE District components include the $56.8-million Winter Garden, which is now known as Ford Hall, with OEG paying $31.7 million — $25 million of it as rent to the city over 35 years —and the city contributing $25.1 million.
Today, ICE District is an Edmonton phenomenon, and booming. The high-profile Rogers Place is the state-of-the-art hockey and concert venue, surrounded by restaurants, shops and mixed-use high-rises, including the 66-storey Stantec Tower, the tallest building in Canada outside Toronto.
For taxpayers, the City, OEG, the hotels, office tower and condo developers, the shops, restaurants and other businesses, ICE District is tremendous ROI.
“A city’s downtown is special because it brings together concentrations of people – to live, to work, to be entertained, to shop and more,” explains Tom Girvan, Edmonton’s director of downtown vibrancy and safe city. “That’s what ICE District does. It brings people together downtown. With arena events, multiple dining options and unique shopping experiences, it offers high-quality gathering spaces for visitors and locals. ICE District has also added 740 housing units and attracted the head offices of some of Edmonton’s most prominent companies to relocate to or remain downtown.”
It is a magnet for local and tourist dollars. The facts and figures show that ICE District has significant direct and indirect economic impact, as well as unmeasurable spin-offs like public engagement and dynamic downtown revitalization.
“Since 2015, the City has invested more than $4.7 billion in Edmonton’s downtown development,” Girvan says. “More than seven million square feet of new buildings have been constructed or are underway across residential, office, cultural, educational and entertainment sectors. There is a lot of spillover value because this type of development and growth helps encourage events, festivals and activities, which are designed to bring more people to our downtown core and increase feelings of safety and vibrancy. These developments also have positive development effects where the increase in visitors means surrounding businesses prosper and new ones are enticed to start up.”
He details that Edmonton has provided millions of dollars to businesses and organizations to support and encourage private investments in downtown businesses, buildings and events to increase economic activity.
“The investment includes the Downtown Vibrancy Fund which has, to date, provided over $15 million to 261 projects to support vibrancy efforts, with a focus on long-term and strategic investment.”
The overall price also included the Downtown Community Arena, an LRT connection and a pedestrian corridor — paid for chiefly by the city, with contributions from the federal government and MacEwan University — and land costs.
Puneeta McBryan, CEO of the Downtown Business Association of Edmonton (DBAE) echoes the positive impact of ICE District on the business of downtown.
“It is undeniable that Rogers Place and ICE District have transformed our downtown. There are hundreds of residential units, tens of millions of dollars in investment and numerous businesses that we would not have been able to attract without these assets. Not to mention the hundreds of thousands of annual visitors and endless community pride and positive energy that the Oilers and Rogers Place events have injected into the core.”
She emphasizes that the future of a successful downtown in any city is to become a central social district and a thriving, densely populated neighbourhood.
It is a proven fact, she points out, “Business and capital flow where there are a lot of customers to tap into and opportunities for viable economic activity.”
Edmonton stats show that, in addition to the invaluable exposure and hype about high profile events like the 2024-2025 Oilers season, the Canadian Country Music Association (CCMA) Awards and mega concerts like Bruce Springsteen & The E Street Band, the dollar value of the national and international attention about this past spring’s Oilers playoff excitement was guesstimated to be over $280M.
“It was the resounding popularity and draw of ICE District that not only triggered the luxury, 55-storey JW Marriott hotel, but directly attracted at least six new hospitality businesses (bars/restaurants) and five new retailers, including the Loblaws City Market, which filled the longtime gap in downtown grocery stores.
“There are also at least three residential towers, one new office tower and two completely renovated now AA-class office towers. Just those buildings alone total roughly $1.5B in investment in the area surrounding ICE District.
“We hope to see at least two new residential towers break ground in 2025, and an incentive program to help facilitate that,” McBryan adds with enthusiasm.
McBryan concludes, “2025 promises to be another massive year for business and cultural events in the core that keep our hotels, shops and restaurants, convention centre and ICE District bumping.”