Westrich Pacific is looking for as much help from the city as it can get as it looks to redevelop Edmonton City Centre. "It's transformational, and it can't happen without major stakeholders," Westrich's co-CEO David Sanche told Postmedia. "It's going to be a partnership with the City of Edmonton. This is too big for us … We think it's going to take many years, and it's very, very challenging. But if we take it in baby steps, we can make it successful with the right support, with the right partners." Ward O-day'min Coun. Anne Stevenson said it'll be the city's job to stay out of the way when it comes to permitting and zoning, but she didn't suggest there would be any direct financial assistance.
There are a number of ways the city can provide financial assistance for downtown redevelopment generally, though it's not clear what the mall would be eligible for. The downtown student housing incentive — which Westrich accessed for The Vantage and Lilac Park, adjacent to O-day'min Park — has been fully allocated. The mall is just outside the boundary for the downtown community revitalization levy, but it would theoretically benefit from CRL projects, such as O-day'min Park, the event park adjacent to Rogers Place, and streetscaping improvements. The city also offers the infill infrastructure fund, which provides funding for public infrastructure improvements to support new housing in the redeveloping area. The fund is accepting applications for affordable housing projects and has a waitlist for market housing developments.
The mall is zoned under the core commercial arts zone, which allows a wide range of uses including housing, restaurants, and retail. With development planner approval, anything from a brewery to a carnival to a science exhibit to a secondhand store could go in the space. The zone allows for buildings up to 45 storeys as-of-right, or 75 storeys with development planner approval. Sanche told CBC Edmonton's Radio Active that Westrich plans to convert the main floor of the former Hudson's Bay space to street-facing retail, and on top of that, construct two floors of loft-style apartments, a nine-storey building, and a few towers up to 60 storeys. It's also planning another tower on top of the west parkade. Before any of that happens, however, the deal has to close; Western Investor expects that to happen by Nov. 18.
A new report by the Information and Communications Technology Council warns that Alberta is five to 10 years behind Saskatchewan in developing a nuclear energy workforce, despite the province's aggressive pursuit of data centre development, which may ultimately rely on nuclear power. The report calls for establishing nuclear engineering programs in Western Canada to avoid a future talent shortage that could leave Alberta competing internationally for workers.
The University of Alberta is an academic partner in the Calgary-based Quantum Defence Innovation Secure Hub, announced alongside a $20.3-million investment from the federal government. The consortium is housed within the University of Calgary's Quantum City program. The hub will bring together 13 organizations — including Lockheed Martin Canada, General Dynamics Mission Systems Canada, and other post-secondaries — to accelerate Canadian quantum technologies into operational capabilities for the Canadian Armed Forces. It is the third such hub announced federally, joining hubs in Halifax and Montreal focused on maritime security and drone technology respectively.
The University of Alberta has partnered with Toronto-based Xanadu to build a quantum computing framework to develop non-invasive cancer treatments. Xanadu and U of A researcher Alex Brown will explore photodynamic cancer therapy using light-activated compounds called photosensitizers for minimally invasive, targeted treatment of tumours.
A new program called Alberta Capital Connect is meant to open doors for early-stage companies in addition to celebrating them at this year's ASTech Awards. The program seeks to connect selected founders to focused, useful feedback on their companies. "This gives us an opportunity to go one level deeper," chair Rus Matichuk told Taproot.
RNARevive is working to develop a platform for self-amplifying RNA therapeutics that enable the body to produce its own personalized medicine. Co-founder Nina Karpoff told Taproot the company's primary strategy is to license or co-develop therapeutics with partners. She noted Edmonton's innovators are "highly respected" internationally but remain underrecognized locally: "We're making waves, making sure people know who we are."
Sports media company The Nation Network, which started with Oilersnation in Edmonton, announced it is rebranding its team-specific sites under the Daily Faceoff brand to reduce confusion and better position the network as a national hockey platform. Oilersnation will become Daily Faceoff Edmonton. A celebratory send-off event for the old brand is planned for September.
Wyvern CEO Chris Robinson told BetaKit that Canadian space companies have a "critical dependency" on SpaceX's Falcon 9 rocket. SpaceX is turning away customers looking to launch payloads past 2028. Wyvern has sent satellites up on SpaceX before, but is now building its satellites to fit on lighter vehicles from other providers, Robson said.
Sobeys is bringing the IGA banner back to Edmonton's Valleyview neighbourhood, opening a full-service grocery store on Aug. 20 at a location that served residents for more than 60 years.
Real estate
Edmonton city council's urban planning committee directed administration to provide a report exploring a tax incentive for transit-oriented development. Councillors also asked for a report identifying ways to expand development opportunities near mass transit stations and outlining a process for proactive rezoning near transit stations, similar to the city's priority growth area project, which resulted in the upzoning of more than 1,200 properties in core areas.
Arts on the Ave has acquired the land needed to build ArtsCommon 118, a long-planned creative hub on a long-vacant lot at 9131 118 Avenue NW. Executive director Christy Morin called it "a game-changer project for the Alberta Avenue neighbourhoods" and said the multi-use hub is designed to be a space where artists can work, live, show artwork, and build community.
Edmonton's resale real estate market remains in slight seller's territory with a sales-to-new-listing ratio of 61.4%, driven by population growth that ranked the city third in Canada from 2023 to 2025 at 8.4%. Inventory has risen from past years, pushing conditions closer to balanced, but demand for single-family homes under $700,000 in the southwest and in suburbs like St. Albert and Sherwood Park remains tight.
Population growth and energy sector activity are driving strong demand for industrial real estate in Edmonton, with Avison Young reporting that annual commercial real estate investment volumes doubled between 2020 and 2025 to top $1.6 billion last year. Investors are increasingly eyeing multi-tenant business parks outside city limits — where property taxes are lower — a trend one industrial specialist says the city needs to address. "We really have to figure out the property tax issue, because it just keeps growing every year," Avison Young's David St. Cyr told Western Investor. "We're seeing more investment into the (counties) … Groups are preferring to go out there."
KV Capital has committed a $54.9-million construction loan for The Clifton, an 18-unit ultra-luxury condominium in the Old Glenora area developed by Autograph Group. Over 75% of the units were pre-sold before construction began. Prices range from $2.73 million to $9.46 million per unit.
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Edmonton's credit rating held at AA+ after S&P Global cited the city's "strong financial policies, transparent disclosure, and well-documented financial plans." Mayor Andrew Knack credited city administration for keeping finances on track, and the report noted the city's debt is stabilizing as major capital projects such as the Valley West LRT line wrap up, though Edmonton can still access up to $500 million in additional credit if needed.
Representatives of the Chinatown and Area Business Association told Edmonton city council's executive committee that its failed audit was due to unfinished projects and pledged to rectify its books by the end of the year. Mayor Andrew Knack said governance needs to improve before council makes its decisions on the annual budgets of the city's 13 Business Improvement Areas during budget deliberations this fall. "Realistically, if they don't fulfil that, council could choose to not approve their budget," Knack said. "At the end of the day we need to make sure the appropriate checks and balances are in place."
EPCOR reported net income of $219 million for the first half of 2026, down from $254 million in the same period last year, attributed largely to fair-value adjustments on electricity purchase contracts and higher depreciation. The company invested $633 million in capital projects in the first six months of the year — a 34% increase year over year — with record rainfall in Edmonton creating significant operational demands on stormwater infrastructure.
OEG named Hugh Weber as chief executive officer, replacing Jürgen Schreiber, who will transition to a new role with TS Retail Enterprises under the OEG brand. Weber brings 25 years of senior leadership experience across professional sports and entertainment.
Aurora Cannabis said it would consider an unsolicited acquisition bid from Curaleaf Holdings after the U.S. cannabis company announced its intention to take its offer directly to shareholders. Curaleaf CEO Boris Jordan said Aurora's board refused to engage, prompting the direct approach. Aurora will form a special committee to review the proposal but denies refusing engagement and says the offer undervalues its business. Curaleaf seeks to combine global distribution with Aurora's medical-cannabis franchise, anticipating US$40 million in annual cost synergies.
SNDL completed the acquisition of assets from U.S. cannabis operator Parallel, gaining exposure to 56 retail locations and three cultivation facilities in Florida, Texas, and Massachusetts. The deal positions SNDL — which operates the largest private-sector liquor and cannabis retail network in Canada — to potentially become one of the first Nasdaq-listed companies with direct, consolidated U.S. medical cannabis operations.
Aurinia Pharmaceuticals reported second-quarter revenue of $83.2 million, up 19% from the same period in 2025. The biopharmaceutical company also initiated PRESERVE, a Phase 4 study combining its lupus nephritis drug Lupkynis with other biologic agents.
Women In Leadership's Edmonton chair Doris Paquette said confidence is "the real multiplier" for women in the workforce on the Executive Wins podcast. Paquette, who is also the vice-president of assets and capital management at the YMCA of Northern Alberta, shared strategies for building inclusive leadership networks and emphasized that leadership extends beyond executives to include parents, students, and small business owners.
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