Edmonton Multifamily Market Report

Innovation and technology drive long-term growth prospects. Edmonton has gained recognition as an artificial intelligence hub due to a combination of academic excellence, strong research institutions, industry collaborations and government support. As such, Alberta’s Ministry of Technology and Innovation, along with private investors, are looking to leverage the region’s cooler climate to undertake a proposed development in northern Alberta, which is poised to become the world’s largest AI data center industrial park. While still undergoing approval and planning, the development could create substantial employment opportunities, providing an estimated 2,000 to 5,000 jobs during the construction phase and 3,000 to 5,000 long-term positions upon completion. With Edmonton being the nearest major urban center, the project has the potential to significantly benefit the metro’s economy and multifamily sector.