News / Edmonton

NAIT to face $107 million bill for Blatchford land

The development’s executive director Mark Hall told Edmonton City councillors $107 million was the figure used during negotiations.

NAIT’s expansion into Blatchford has been part of the plans since the beginning of the idea as shown on this rendering. One of the school's major goals is to build a residence.

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NAIT’s expansion into Blatchford has been part of the plans since the beginning of the idea as shown on this rendering. One of the school's major goals is to build a residence.

NAIT is looking at a price tag of at least $107 million to expand its campus into the Blatchford neighbourhood.

The development’s executive director Mark Hall told Edmonton City councillors $107 million was the figure used during negotiations.

“That’s the number we have been using for the land value that we have always been talking about,” he said.

Hall said they believe that will be a fair price for everyone involved, for the roughly 41 acres the school is looking at in the development.

“We believe that represents the fair market value of land with the assumptions we are making about one consolidated purchase that will stand for their expansion plans for the foreseeable future,” he said.

Hall said the negotiations also have to work out when the land will be serviced and how the projects will be designed, so there is still a lot of work to do.

“It’s not just a financial transaction it has to be an integrated solution that works for how the Blatchford area can develop,” he said.

In total the city is budgeting revenues of $129 million in 2016 for land sales, including the large NAIT purchase. In future years without the NAIT purchase the projected sales numbers come down considerably to $22 million in 2017, $29 million in 2018 and $34 million in 2019.

Hall said as the project moves forward the sales, both the design and construction process will unfold together.

“Every year we will be designing land, every year we will be constructing something,” he said.

NAIT spokesperson Frank Landry said the school has a number of different ways to pay for the land, but that’s not their focus right now.

“We’re still in negotiations with the city over Blatchford and funding won’t be finalized until that process is complete.”

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