The Galleria project

The Edmonton Downtown Academic and Cultural Centre (E-DACC) Foundation is proposing to build the non-profit, billion-dollar district under what it is calling a P4 — philanthropic, private, public partnership. The foundation says that the project is dead in the water unless they can get commercial leases for the office building as well as long-term leases with the University of Alberta. They’ve also asked the city for money to build a pedway from Churchill Station to the Royal Alberta Museum (and eventually to the Galleria.) So far, the city has pledged conditional support for that request.

Posted: April 29, 2014

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A view of the project

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Funding by the numbers

The total project is estimated to cost between $950 million and $1 billion. The foundation says that breaks down into:

$50 million
Funding from the City of Edmonton
$100 million
Philanthropic donations, of which $50 million has been pledged so far
$750 million
In bank loans
$50 million
The estimated amount to come from naming rights and other grants

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