‘Book is not closed’ on Calgary downtown revitalization, says Alberta’s finance minister

“To do that, we need to continue to position this province for disproportionate investment attraction and growth. And we’re doing that, and this budget does that, and we’re starting to see the benefits of that.”

As part of last week’s provincial budget, the province allocated $5 million toward the city’s downtown revitalization strategy.

That drew criticism from both Calgary Mayor Jyoti Gondek and Deborah Yedlin, president of the Calgary Chamber of Commerce.

Both indicated they had hoped the provincial government would provide more than that figure, especially given the city’s $250-million investment into revitalization.

“The problem is we really need funding to accelerate the process,” Yedlin said. “We don’t have the luxury of time, and $5 million is not going to do what we need it to do for downtown Calgary.”

Toews said the province planned to work collaboratively with Calgary and Edmonton on revitalization, adding that the province’s core responsibility is to attract investments and economic growth.

“We know there’s work ongoing. We will be a willing partner, and a co-operative partner, finding solutions for downtown,” he said.

In a statement, NDP finance critic Shannon Phillips called the minister’s speech “shameful.”

“Despite these challenges facing Calgary’s economy, the UCP has failed to present a plan for jobs or economic diversification. We need to do much more to support the people of Calgary, grow the economy and create jobs,” Phillips said.

Last week, Edmonton Mayor Amarjeet Sohi similarly lamented the $5 million allocated toward downtown revitalization in that city, calling the funding “completely unacceptable.”

Around one-third of the downtown office space in Calgary has emptied out since 2014.