I guess I was wrong, still shooting for 30k.
Council green-lights Blatchford redevelopment
BY GORDON KENT, EDMONTON JOURNAL JULY 16, 2014
Redevelopment of the former City Centre Airport will move ahead after councillors accepted a plan Wednesday to spend $632 million building a green community on the site.
The money will pay for Blatchford’s roads, sewers, parks, lakes, a stormwater irrigation system and other infrastructure needed over the next 25 years.
About $552 million will come from revenue made developing the 217-hectare site for up to 30,000 residents, schools, shops and other businesses, with the rest borrowed.
NAIT hopes to buy 16 hectares for expansion.
By the time the project is finished, city officials expect to make a $229-million profit.
That’s similar to earlier projections which, although they appeared much smaller, didn’t take decades of inflation and other factors into account.
“It’s not the goal to make money on this development,” Coun. Michael Oshry said.