The Klarvatten neighbourhood is located in north Edmonton within the Lake District. The neighbourhood is bounded by the Anthony Henday ring road to the north (transportation and utility corridor), 82nd Street to the east, 167th Avenue to the south, and 91st Street to the west. Prior to urban use, the land on which Klarvatten was developed was used for agricultural production.

The neighbourhood structure plan (NSP) for Klarvatten was approved by City Council in the late 1970s. Klarvatten first experienced residential construction in the late 1980s, but over 50 percent of residential construction took place in the 2000s. The most common residential structure in the neighbourhood is the single-detached house; the remaining residential dwelling units are found in semi-detached homes and row houses. Some medium-density housing in low-rise apartments is planned for the northern part of the neighbourhood, but as of 2009 it had not been constructed.

One of Klarvatten's major features is a large stormwater lake and wetland located in the east-central part of the neighbourhood. The stormwater lake provides residents with access to an attractive outdoor amenity and provides recreation space within the community. The neighbourhood also features several parks, many of which are connected via pedestrian pathways. A school site is provided in the middle of the neighbourhood, along Klarvatten’s western border, but as yet no school has been built. Two elementary schools are located in the adjacent Lago Lindo neighbourhood.

A neighbourhood-level commercial space is located at the corner of 91st Street and 167th Avenue. Major commercial amenities are also available to residents along 167th Avenue, just west of Klarvatten.

In keeping with the naming convention for all neighbourhoods within the Lake District, Klarvatten is Swedish for “clear water.”

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