Downtown revitalization plan hits snag
Edmonton's Boyle Renaissance Project has hit a $3 million snag.
A corporate donor has pulled out of the landmark project critical to the city’s downtown revitalization plans.
The project unveiled in 2008 will transform a rundown two-block area downtown into a community for hundreds of homeless people and families struggling to make ends meet.
The donor committed $3 million to the project, but that amount balloons to $10 million in light of matching grants from government, said Walter Troncenko, manager of the city’s Special Projects Office.
The donor was offering expertise and labour, but withdrew in June when the scope of the project changed from the original plan.
The Boyle Renaissance development — between 95th Street and 96th Street, from 103A Avenue north to the LRT tracks — will include affordable housing for 900 people, a new school, recreation centre, day care and medical offices.
The first phase of the project consists of the Welcome Village, a housing complex of 150 units for low to moderate-income individuals and families to be built at 95th Street and 104th Avenue, along with a community hub, resource centre and a daycare.
Phase One is budgeted for $41 million, with most — $35 million — being raised by the YMCA. The remainder will come from the city. The city hopes to break ground in December.
The shortfall is just the latest in a growing list of problems for the project.
The backers of a new inner-city high school, an anchor for the project, also pulled out.
And some landowners are reluctant to sell lots the city needs for the development. One property the city did buy —- the old York Hotel — is in poor shape and may have to be knocked down.
Some community members worry the project will become a ghetto.
But those behind the plan said it’s too soon to worry.
"City council has been totally behind the project, the province, the YMCA, Boyle Street Community League, all of these groups coming together," said Franco Savoia, president and CEO of the YMCA in Edmonton.
The funding request should go to council in early November.