CALGARY, ALTA.— Land has been secured in Alberta to build the Springbank Off-Stream Reservoir (SR1).
Alberta officials announced that voluntary agreements have been reached with landowners to secure 100 per cent of the land needed for the SR1.
The province stated the project will protect homes in Calgary and southern Alberta from the type of devastation that resulted from the 2013 floods which caused $5 billion in economic damage. Construction of the reservoir is scheduled to start in early 2022.
Earlier this year, provincial and federal regulators both ruled SR1 to be in the public interest. Officials stated every spring without flood mitigation, the City of Calgary and surrounding areas remain at risk of another devastating flood and significant economic impacts.
The project requires 3,700 acres of land and is expected to be operational by 2024. Alberta Environment and Parks will be responsible for the operation of the project once construction is complete. The budget for the project is $432 million.