The reason this is happening is because the City of Edmonton has made a condition of any developers with land adjacent to 50st be responsible to the twining of the road. So the twinning happens as development reaches that stage. It'll be 10-15 more years before the remainder of the road is twinned.
Ooooh $220 million that's a large investment. I wonder what the scope of say a Falcon tower might be.
https://renx.ca/maclab-develop-220-m-two-tower-student-multires-edmonton/
This is the portion that Maclab owns... We can assume it will get done and will get done very very well. They are already into this project for millions.
https://files.constantcontact.com/5f6415b9701/98d98072-7f5d-44de-b727-a638958106d0.pdf
Land is being listed. No idea if this is a new listing with IPA or if it's been listed for a while.