Business Roundup
July 3, 2026

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CPA Alberta

Developers aim to downzone near downtown

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Edmonton city council is set to debate three rezoning applications on Monday that would see ambitious direct control zones shrunk to allow buildings between eight and 18 storeys. Westrich Pacific has applied to rezone two properties in Wîhkwêntôwin. The developer has proposed rezoning a lot at 10004 112 Street from a direct control zone that allows for a 35-storey building to the mixed use zone, which allows for a 12-storey building. Westrich has also applied to rezone three lots a block away, at the corner of 100 Avenue and 111 Street, from a direct control zone that allows for a 18-storey building to the medium-scale residential zone, which allows for an eight-storey building.

This isn't the first time developers have downzoned central projects that would have placed among the tallest buildings in Edmonton. Several lots surrounding O-day'min Park were rezoned into standard, shorter zones in the last year. Henry Edgar of Autograph Group told Taproot "towers are just too expensive" after the company rezoned its lot at 10157 106 Street. Autograph had initially proposed to build two towers at 38 and 35 storeys with 780 units, but now plans to construct a seven-storey building with about 200 units.

Meanwhile, Yorkton Equity Group has applied to rezone the Pacific Mall site and an adjacent parking lot in Chinatown to allow for an 18-storey building and a six-storey building, respectively. The current zoning allows for buildings up to 38 storeys high. Administration said it supports the application because the proposed buildings would align with Chinatown's economic development plans.

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Economic development

  • Prime Minister Mark Carney and Premier Danielle Smith announced the proposed route for the West Coast Oil Pipeline Project. It will run from Bruderheim to an unspecified destination on the southwest B.C. coast along the Trans Mountain pipeline route, Smith said. Smith submitted a proposal to the Major Projects Office on July 2, the same day as the announcement, that names Pembina Pipeline (a partner in the newly approved $4.6 billion Greenlight Energy Centre) and Trans Mountain Corporation as private partners. Carney made a "low-ball" estimate that the pipeline will create $200 billion in direct investment and create more than 175,000 jobs. At the same news conference, Carney said the Oil Sands Alliance and the federal and provincial governments have agreed on terms for the Pathways carbon capture utilization and storage project.
  • The Edmonton Chamber of Commerce hosted Finance Minister Jason Nixon for a conversation on Alberta's fiscal outlook, oil price volatility, and plans for a new pipeline. Nixon noted that oil prices have significantly exceeded budget projections, creating an opportunity for strategic investment. He said "there is no path forward for Alberta without Canada, and there is no path forward for Canada without Alberta."
  • Representatives from the Edmonton region visited Eurosatory 2026, one of the world's largest defence and security exhibitions, which took place in Paris earlier this month. Participants from the University of Alberta, the City of Leduc, Sarcomere Dynamics, and RUNWITHIT Synthetics showcased the Edmonton region's advanced manufacturing and defence ecosystem.
  • Sherritt International Corp. is shutting down operations at its Fort Saskatchewan refinery after running out of feed material from its Moa mine in Cuba, which suspended operations due to fuel shortages caused by U.S. sanctions cutting off Venezuelan oil. The company says no jobs were lost and that it is continuing to produce fertilizers and sulphuric acid using existing inventory. The refinery is the only producer of battery-grade cobalt in North America, Richard Hiller of the Energy Futures Lab told The Canadian Press.
  • Tourism spending in the Edmonton area reached $2.5 billion in 2024, driven by a mix of international visitors, out-of-province travellers, and growing staycation interest as rising costs prompt Albertans to vacation closer to home. The Tourism Industry Association of Alberta projects moderate growth of 1–3% for the rest of 2026, citing global economic uncertainty and high fuel costs as factors that could dampen momentum.
  • KDays has partnered with 55 food and beverage businesses to offer free tickets when customers purchase items themed around the event. The KDays Local Business Partnerships program has distributed 52,000 tickets and brought in $460,000 for business partners since launching in 2024.
  • Bryanna Kumpula-Yung of Bar OA Farms and Eiblis Doherty of Strathcona County Tourism delivered a presentation on what they've learned about making agritourism work at the Global Agritourism Conference in Aberdeen, Scotland. "The question is no longer whether agritourism matters, it's how communities can support it effectively," they said in their talk, noting the efforts Strathcona County has made to enable farmers to diversify as part of its tourism strategy.
  • The recent Game Con Canada and North American Games Industry Summit in Edmonton attracted about 40,000 attendees, highlighting the city's importance in Canada's gaming scene. Lucid Rain showcased its game Inferius at GCC, winning awards, thanks partly to support from Edmonton Screen. The event, which also featured a BioWare panel, underscored the potential of Alberta's gaming industry, despite the lack of a provincial tax credit.
  • The Opportunity Calgary Investment Fund has invested up to $368,000 in Applied Pharmaceutical Innovation to expand the company's Calgary team and establish a life sciences commercialization centre at the Biohubx facility. The funding is expected to support 16 companies and create two high-skilled jobs over two years, and will also establish a graduation-pathway partnership with the Life Sciences Innovation Hub.
  • Shauna Feth of the Alberta Chambers of Commerce argued that separation uncertainty is already costing Alberta businesses — economically and reputationally — long before any referendum takes place.
  • MacEwan University president Annette Trimbee said Alberta needs to redesign its post-secondary funding framework to address enrolment growth, community impact, and operating costs. MacEwan anticipates 30,000 students by 2030, with programs tailored to labour market demands. Trimbee noted that more than 90% of its alumni stay in Alberta.
  • Edmonton Centre MP Eleanor Olszewski, the minister responsible for emergency management and community resilience, visited the University of Alberta on June 24 to highlight the launch of the National Food Security Strategy, which aims to put Canada more in control of its own food system. The strategy's objectives are to spur grocery store competition, boost domestic food production, grow fruits and vegetables year-round, and decrease regulation in the agricultural supply chain.
  • Visionstate is raising up to $1 million through a private placement to accelerate commercial expansion of its MIRA Compliance Intelligence Platform. The company plans to use the proceeds to grow enterprise sales, expand into the U.S. market, and develop its AI-powered compliance tools for hospitals, airports, shopping centres, and other facilities.
  • PCL Construction has earned Platinum Club status in Canada's Best Managed Companies for a 25th consecutive year, making it one of the program's longest-standing honourees with 31 appearances overall.
  • Business in Edmonton profiled the Alberta Enterprise Group, a business advocacy organization founded nearly 20 years ago whose member companies collectively employ more than 150,000 Albertans. The AEG advocates on economic policy, connects business leaders with government, and organizes trade missions to promote Alberta as an investment destination.

Startups and SMBs

Real estate

  • The Hive by Elev is now accepting student move-ins at 9629 102 Avenue NW in The Quarters, with rent starting at $588 per month for 65 fully furnished units. The building, a converted Salvation Army Centre of Hope co-developed with Five Oaks, sits steps from The Quarters stop on the Valley Line LRT. "I see it as an opportunity to try new things — to get creative, to get innovative, to leverage different resources," Elev co-founder Jean Bruce Koua told Taproot. "I think The Quarters has a lot of opportunities, and it's just a matter of taking a risk."
  • A three-year, $34-million renovation project has been completed, upgrading nearly 2,000 subsidized homes across Edmonton. Mayor Andrew Knack and federal minister Eleanor Olszewski toured the renovated properties, which include subsidized townhomes and apartments. The project was supported by $19.6 million from the federal government and $14 million from the City of Edmonton, modernizing buildings with improved insulation, windows, and accessibility features. However, more than 10,000 families remain on Civida's waiting list for housing, according to CEO Bree Claude.
  • St. Albert's housing needs assessment identified gaps in the diversity of options for homeownership, the supply of purpose-built rentals, and the amount of non-market housing for seniors and people of all abilities. The report will inform an affordable housing strategy to be developed in the coming months and satisfies a new federal requirement for infrastructure grant eligibility.
  • Residents in Edmonton's Mill Woods area are considering the use of restrictive covenants to oppose infill developments, such as eight-plexes. The legal tool restricts land title changes, aiming to maintain existing community structures. Rio Terrace has successfully used this method to curb infill for more than a decade.
  • There's no need to choose between infill and outfill, argued Murtaza Haider, executive director of the University of Alberta's Cities Institute and Toronto-based Stephen Moranis. Canada's housing needs are many and varied, they wrote. Infill works especially well near transit and is most suitable for smaller families, while outfill (or suburban development) is better for bigger families and is cheaper when considering the number of occupants.
  • Social Life Magazine explored Devon's pros and cons for home ownership in the context of the region, noting its property tax rate of about 0.81% and housing priced as low as $139,000.
  • Spruce Grove introduced a city centre tax incentive program to encourage commercial and mixed-use redevelopment in its downtown core. The program offers a municipal property tax abatement during the early years after redevelopment for qualifying projects within the First Avenue and McLeod Avenue precincts.
  • The downtown office market is recovering from years of post-pandemic instability, with return-to-office trends driving more than 100,000 square feet of positive absorption in the first quarter of 2026 — all of it in the financial and government districts. Demand is concentrating in Class A and AA buildings with strong amenities, according to experts at Avison Young and CBRE Edmonton, while older buildings face pressure from rising costs and weaker tenant interest.
  • The organization formerly known as NAIOP Edmonton is now the Commercial Real Estate Development Association – Edmonton, or CREDA for short. The rebrand aligns with NAIOP chapters across North America.
  • Imperial Equities Inc. has purchased the Interstate Battery building at 118 Avenue and 158 Street for $5 million. The 22,315-square-foot industrial warehouse on a three-acre site adjoins existing Imperial Equities properties along 118 Avenue.

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Happenings

Here are some events coming up over the next seven days:

And here are some upcoming events to keep in mind:

Visit the Taproot Edmonton Calendar for many more events in the Edmonton region.

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