Edmonton's downtown arena district is now the Ice District.

The Ice District reflects the "celebration of Edmonton's winter city status and the sport that fuels our passion - hockey," the Katz Group said.

"Ice District arose from the need for a new arena, the catalyst that sparked a vision to transform downtown Edmonton.

"It's a tribute to those things that make Edmonton and Edmontonians truly unforgettable and truly unique."

One business professor at the University of Alberta said he thinks the new name will catch on.

"I think it says a little bit about Edmonton ... the priority of hockey in the description of what's going on there," said John Procejus, an associate professor of marketing. "And also, of course, it's a place that's cold in the winter. We have our own ice, unlike other famously other hockey towns ... so those things all work at a branding level."

Coun. Scott McKeen praised the new name. 

"I like it. I thought it might be Connor McDavid Land, but Ice District is great."

McKeen described the district's impact on the city as transformational.

"Our downtown is undergoing the greatest transformation ever seen in this city, in large part due to all the wrangling that went on between city council and the Katz Group around that arena," he said.

"This kind of investment really is sparking an excitement in our community, but also across the country and, in fact, around the world," McKeen said.

Oilers CEO Bob Nicholson said the district will eventually become "the largest mixed-use sports and entertainment district in Canada."

The Ice District encompasses more than 25 acres anchored by Rogers Place, "the most advanced sports and entertainment venue in North America," Nicholson said.

The district extends from 101st Street to 104th Street and from 103rd Avenue to 106th Avenue.

The first phase of development for the Ice District includes a luxury hotel, two office towers, condominiums and apartments, restaurants and nightlife, casino, theatre complex, and retail stores.

Below is YouTube video from the Katz Group explaining the name.