A project that was intended to revitalize one of Edmonton’s oldest areas is now on hold indefinitely.
Corners Tower 1, a 28-storey residential development in The Quarters, was expected to be built by now.
However, the lot on the corner of 95 Street and Jasper Avenue remains a hole in the ground.
Last week, the once-private development became surrounded by concrete barricades and City of Edmonton signage.
On Friday, the city confirmed to CTV Edmonton that the deal to build Corners Tower 1 is dead.
“That agreement had conditions that had to be met by certain timelines and as it turned out they were not met,” said Mary Ann Debrinski, director of urban renewal.
The city admits that old coal mines were discovered in the area of the site but won’t say if that was a factor in the agreement falling apart.
The building was expected to include 285 residential units with a retail component on the main floor.
With files from CTV’s Dan Grummett
