A significant infrastructure development project in the Enoch Cree Nation west of Edmonton has secured a $100-million loan to help it come to fruition.
The funding was announced at a news conference held at the River Cree Resort and Casino on Thursday.
The Canada Infrastructure Bank (CIB) noted its loan will help with the construction of an elders facility, a cultural centre and a medical centre, and that the overall plans are expected to result in over $1 billion in commercial and residential development.
“It is about ensuring our members have access to the essential services they deserve,” Enoch Cree Nation Chief Cody Thomas said.
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“It is about unlocking over $1 billion in economic development that will support jobs, businesses, homes and long-term prosperity for our nation.”
The First Nations Finance Authority is supporting development on Enoch Cree Nation with $194 million in financing for the expansion of River Cree Resort and Casino.
In 2023, the CIB approved a $15-million loan for upgrades to the main transportation artery within the Enoch Cree Nation, including pedestrian crossings and a new pedestrian trail.
“Our second investment with the Enoch Cree Nation supports its ongoing work to develop their reserve and create a self-sustaining future for community members,” Ehren Cory, the CIB’s CEO, said in a post on the Crown corporation’s website. “The enabling infrastructure will create jobs and needed road, water and wastewater infrastructure.
“The end result will be a new mixed-use development with office and retail space and community resources.”
The CIB said the project is expected to “support up to 800 jobs for community members and individuals living in the surrounding areas” and added that Enoch Civil Construction LP, the First Nation’s heavy civil construction company, will serve as the general contractor for the project.
Construction is expected to be finished in 2027.
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