Proponents of a commuter rail connecting Calgary to Banff hope to sweeten a deal with the province in response to Alberta’s rail master plan which envisions tying the Rocky Mountain parks to Calgary, Edmonton and surrounding communities via passenger rail.
In a move it hopes will help facilitate this, Banff-based Liricon Capital and its development partner, Plenary, say if the province builds a rail line from the Calgary International Airport to a central terminal in downtown Calgary, connects regional rail with the city’s Green Line and fixes a downtown pinch point, Liricon and Plenary will develop, build, and operate a line from the city to Banff at no cost to the province.
Waterous said she believes the project could now do without financial support from the province for two reasons. "Now that the province is taking on that risk, or we expect they will, that also de-risks this for us. With those two key points, we believe that we can offer the downtown Calgary to Banff train with zero provincial funding."Liricon and Plenary hope to secure more than $1 billion in committed CIB financing in advance of the next federal election.
The CABR project hopes to sign a project development agreement with the province by end of June 2025, which is roughly four months before the federal election. The agreement would allow CABR to advance to the design phase and secure funding intent prior to the federal election. With the First Nation, in particular, Waterous said it has been made "abundantly clear" that this requires engagement with provincial and likely federal governments, as well.
"Alberta’s and North America’s economy depends on a freight rail transportation system that can safely and efficiently move goods and commodities, especially through this critical trade corridor," said Terry Cunha, CPKC spokesperson. She said she also wonders if the pedestrian zone, along with the decision to remove it, came a few years too early for the mountain town and national park.
Whoop-Up Days providing economic benefit as Lethbridge and District Exhibition continues to face deficit 'We are in the dark': Owner clueless on why suspects threw Molotov cocktails into tattoo shop in Liberty Village The Winnipeg Police Service is investigating after hundreds of people were forced out of a downtown apartment building due to flooding.A Winnipeg man has been charged after a child sex doll was seized by the Canada Border Services Agency .Winnipeg police have arrested three youths in connection with a pair of machete attacks in Winnipeg, including one who was previously charged with causing life-altering injuries to a 15-year-old male.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Proponents talk up gondolas for Toronto Island access - Daily Commercial NewsCanada's construction news
Read more »
Banff, Lake Louise put out call for visitors amid Jasper National Park wildfire closureTourism officials in Banff and Lake Louise, Alta., are reminding visitors that those mountain towns are open for business as Jasper National Park remains closed due to wildfires.
Read more »
Banff residents vote on future of pedestrian zoneBanff residents head to the polls on Monday to vote on the future of the mountain town's pedestrian zone.
Read more »
Banff residents head to the polls over pedestrian zoneBanff residents will vote in a plebiscite on Monday to determine if a pedestrian zone on Banff Avenue should continue.
Read more »
Actor Bryan Cranston shares more photos from Alberta mountain trip through Lake Louise, BanffAfter posting about a recent trip to Jasper, Alta., actor Bryan Cranston heaped more praise on some of Alberta’s other majestic mountain destinations.
Read more »
Future of Banff's annual pedestrian zone to be decided on MondayThe majority of restaurants and businesses have reopened in the town of Banff, Alta., but some are reporting tourists arriving from south of the border.
Read more »