Road Map Action 31
Establish a Community Development Corporation to invest in affordable housing and community economic development.
Road Map Timeline: Year 1
EPE Strategy priority alignments: #22 - Partner with business, industry, community organizations and other stakeholders to create a community development corporation.
EDMONTON COMMUNITY DEVELOPMENT COMPANY
Initiative Lead Organization:
In 2017, the Edmonton Community Development Company (Edmonton CDC) was created and the board of directors undertook a national competition for its inaugural executive director, which resulted in the hiring of Mark Holmgren. Since his arrival in early January 2018, Mark has explored community economic development ideas with more than 100 organizations of various sizes, including universities, financial institutions, Indigenous groups, multicultural groups, realtors, social enterprise practitioners, funders, community leagues, Business Improvement Areas, developers, and City, Provincial, and Federal departments and elected officials.
The Edmonton CDC’s purpose is to promote the renewal of low-income, challenged neighbourhoods through a community economic development approach. This approach puts the community at the forefront of economic revitalization with support from industry and orders of government. The Edmonton CDC exists to build and renovate affordable housing, undertake commercial development, support or launch social enterprises that employ local and low-income residents. It seeks to help communities lead the revitalization of their own neighbourhoods.
The Edmonton CDC has partnered with Arts on the Ave to design and construct ArtsCommon 118 in the Alberta Avenue area. The development envisions building two facilities on six lots of land donated by the City of Edmonton and five lots purchased by the ECDC. It includes retail space; live-work space for 76 artists; a community coffee house; a black box theatre seating up to 200; office space; and exhibition space. The vision includes back alley shops, a farmers market, and a roof-top farm.
ArtsCommon 118 is envisioned as Net Zero to accommodate Edmonton CDC’s desire to create energy-efficient, environmentally friendly buildings.
The organization is funded by the City of Edmonton, the Edmonton Community Foundation, United Way, Homeward Trust, and the Stollery Charitable Foundation.
Public and MEDIA INQUIRY CONTACT: email@example.com
Last Updated: August 8, 2018