Here's an off-the-cuff thought...
Develop a major sports stadium on the three block area encompassed by the land between 105th Avenue and 106th Avenue (north/south) and 105th street and 108th street (east/west). Because of the wider and longer field in Canadian Football as compared to U.S. football, the playing field (65 yards X 110 yards) more closely aligns with International Football (Soccer -- 75 yards wide X 120 yards long). The boundary and infield striping for both could be accomplished in different colors and highlighted for each sport by aerial projection to further eliminate any confusion. The existing buildings on the site are nondescript, mostly 2-storey buildings. The new stadium, with a retractable roof over the playing-field area, could be depressed below the surrounding street level to accommodate both underground parking and a lower tier seating arrangement, thereby keeping the building profile at more of a human scale (with the exception of a new hotel tower and several condo/apartment towers in corner locations). Street level retail/hospitality would be a huge plus facing widened sidewalks.
As well as professional CFL games and the occasional Grey Cup (9 home games + exhibition + playoffs and an occasional Grey Cup), the stadium could secure a MLS franchise (17 home games + exhibition + elimination rounds + occasional Supporters' Shield). It could also host myriad other events. It could tie into MacEwan U. It could have an underground connection to LRT.
Just a thought Mr. K.