EDMONTON, ALB—MARCH 28, 2017—Construction is expected to start this spring on a new racetrack near Edmonton, Alberta Canada.

Horse Racing Alberta and Century Casinos plan to build the track to replace Northlands Park, which is scheduled to race through June 30, 2018. The hope is that Century Mile will take over from that date.

The group announced Monday they have received approval from the Alberta Gaming and Liquor Commission (AGLC) to build the facility, called Century Mile.

"It’s a big project, I think it’ll be the biggest project that Century has undertaken," Paul Ryneveld with Century Casinos said.

The site of the new track is a field, located south of Edmonton, will be near the Edmonton International Airport. The one-mile track is expected to cost $50 million.

Last September Century Casinos was selected, over three others, to build the new race track.

"It was the news we were certainly hoping for, and it is a really good news day for the horse racing industry in the province," Shirley McLellan, CEO of Horse Racing Alberta, said in regards to Monday's announcement.

At a press conference last fall Century Casinos, Inc. said Century Mile must host at least 100 days of racing for flat and harness horses and Quarter Horse, Standardbred and Thoroughbred race days will be negotiated for spring, summer and fall.

"It’s just going to be a great place to showcase a sport that’s been a part of Alberta’s history for over a hundred years," McLellan added.