An iconic downtown building could undergo some extensive changes in the next few years – a report set to go before a city committee outlines changes the owner of the Kelly Ramsey building would like to make.

In documents slated to go before the City of Edmonton Executive Committee on Tuesday, April 2, the owner outlines the major project.

The plans include dismantling the historic sections of the block the building stands on, between 101 Street and Rice Howard Way, restoring them, and then using the pieces as a façade on a new 29-storey building - complete with underground parking, a hotel and office space.

The price tag for the project is set at $250 million.

In the report, city officials recommend the city putting in $1,772,052.64 from the Heritage Reserve Fund, to help cover restoration of the Kelly Ramsey building.

The historic building was gutted by a fire in 2009.