Arena development announcements coming soon

An Edmonton city councillor says announcements about developmentsrelated tothe downtown arena are coming soon.

"I understand that Katz Group and WAM (West Asset Management Development Group) are poised to make a number of announcements," Coun. Bryan Anderson told a council committee meeting on Wednesday.

The $450 million arena will be the anchor for a number of adjacent developments including hotels and restaurants, but no names have yet been attached to the projects.

Jim Taylor, executive director for the Downtown Business Association, says he's also heard announcements are coming this summer.

"The buzz lately has been that it could be as early as the end of the month," he said.

Taylor appeared before council's executive committee to discuss the DBA's annual report. He told councillors that the DBA estimates $2 to $3 billion will be invested in the city's downtown core over the next five years.

"When you think of the magnitude of that in a very small area for the city of Edmonton, there's probably not a time in our history when we've come close to that," Taylor said.