The Alberta Government has earmarked $473.6 million over the next three years to complete the Springbank Off-Stream Reservoir (SR1).

Rob Williams, Alberta Transportation press secretary says a total of $208.6 million will be spent in the 2022-23 fiscal year, $184.4 million in 23-24, and $80.6 million in 2024-25.

Including land acquisitions, the total cost of the project is now $744.4 million. The federal government’s contribution is $168.5 million, with a provincial investment of $575.9 million.

Alberta Transportation officials expect major construction to begin this spring. The reservoir will be partially operational in 2024, and fully complete by 2025.

Initial brushing for the flood mitigation project got underway earlier this month and will continue through March. About 140 acres of land along the Elbow River and key points of construction will be deforested, including a significant portion by the Kamp Kiwanis, located near the Hwy. 22-Hwy. 8 traffic circle.

The off-stream reservoir is intended to provide flood mitigation along the Elbow River to help protect Calgary and other downstream communities.