Leader Brian Jean says party members will choose a candidate to run in the byelection on Aug. 15.
Former premier Jim Prentice won the riding in the May 5 provincial election but quickly resigned when the Progressive Conservatives were swept from power.
Premier Rachel Notley says no date has been set for the byelection.
Jean says because of the looming byelection the party will set aside a rule that says people must be a party member for six months before they can run as a Wildrose election candidate.
The Alberta New Democrats have set July 27 for their meeting that will determine who will carry the party flag in Calgary-Foothills.
Notley noted that people in the riding have faced two elections in the past eight months and are to go the polls again this fall in a federal election.
She said she must consider these factors before deciding on the byelection date.
"We're deliberating on it but it's a bit of a dicey situation because we've got a federal election in the middle of it and you want to be respectful of that process," Notley said Friday.