Towering decision: Next phase of downtown residential project could rise to 37 storeys
Qualico Properties says its next downtown Edmonton tower proposal could rise much higher than originally planned.
The builder says the new height is in response to changing market conditions and the early success of the company’s latest residential project.
Qualico has given the Epcor Tower on 101 Street a real next-door neighbour on its Station Lands site.
The residential building is called Switch and features small units with perks.
"You rent a small unit, but you have 10,000 square feet of amenity space," Mike Saunders, a senior vice-president with Qualico, told CTV News Edmonton last week.
Qualico has already rented 90 out of 285 units, the speed at which Switch is leasing – especially with students – a welcome surprise to Qualico.
It's having a dramatic effect on plans for the 9.1-acre Station Lands parcel, which stretches from 101 Street to 97 Street, that Qualico has owned since 1998. Originally, the master plan for the land called for five office towers, but with the development of the nearby Ice District, it changed and now calls for seven residential buildings to be constructed.
"We're probably a lot more bullish than we were 12 months ago," Saunders said.
"Population trends, immigration to Alberta, and especially to Edmonton, has really helped inform those decisions.
As a result, Qualico has more confidence in the potential of its space on the north edge of downtown.
What was originally planned as a 25-storey building on the fortified podium for the second phase of the project is now being drawn up as something much bigger.
A rendering of Qualico Properties' Switch residential project on 101 Street in downtown Edmonton that includes a 37-storey tower, left. (Credit: Qualico Properties)
"On top of (the podium), it would be 37 storeys with just under 400 units," Saunders said.
Those units are key for Edmonton, which is still struggling after the COVID-19 pandemic to revive the momentum of the downtown core.
"What we're proud of (is) we're part of the solution for downtown. We're not seeing a lot of investment right now. There's a lot of great projects – the warehouse district park is a great example of what's being done in our revitalization efforts.
"We also see that Station Lands presents a great opportunity for investment and attraction for people to come downtown, because prior to COVID, we were seeing a strong trajectory with downtown and its vibrancy. We just need to get back there. It takes a coordinated effort between private industry, post-secondary institutions, all levels of government, to work in a cohesive manner that will allow us to recover in the way that we should."
Consultants who toured the city's core told the Edmonton Downtown Business Association and stakeholders exactly that, said Puneeta McBryan, the association's director.
"The most constructive and most direct feedback they gave us was simply, 'You need more people here. You need more residents downtown," McBryan told CTV News Edmonton.
"That will support everything else you're trying to do."
Drawings of Qualico Properties' Switch residential project on 101 Street in downtown Edmonton that includes a 37-storey tower, right. (Credit: Qualico Properties)It's something Saunders agrees with, but as for how soon Qualico might be willing to give the go-ahead on the next 37 storeys toward that goal, stay tuned.
"We're going to be working through our design drawings and a lot of further due diligence looking at market conditions," Saunders said. " A lot of it is what (do) the economic conditions look like in 2028 or 2029."
Correction
This story has been edited to correct the name of the project to The Switch.
CTVNews.ca Top Stories
Canadians prefer Trudeau work with Harris, Poilievre with Trump: Angus Reid
As Americans prepare to elect their next president on Tuesday, new data from the Angus Reid Institute suggests Canadians hold differing views as to which federal party leaders would be best suited to deal with either Donald Trump or Kamala Harris.
Elections BC says box of 861 votes uncounted, others votes unreported
Elections BC says it has discovered that a ballot box containing 861 votes wasn't counted in the recent provincial election, as well as other mistakes including 14 votes going unreported in a crucial riding narrowly won by the NDP.
Peel police officer suspended after video appeared to show him at protest while off duty
Peel police say four people were arrested and an officer was injured following several protests in Mississauga and Brampton Sunday afternoon, including one at a Hindu temple that turned violent.
Felonies, assassination attempts and a last-minute change on the ticket leads voters to Tuesday's U.S. election
A campaign that has careened through a felony trial, incumbent being pushed off the ticket and assassination attempts comes down to Election Day on Tuesday.
Surprise swing state? Iowa poll has Harris suddenly leading
Based on victories in the past two elections and polls leading up to Tuesday’s election, Donald Trump had seemed almost certain to win Iowa, but a new poll has Kamala Harris with a sudden three-point lead.
Russia suspected of sending incendiary devices on US- and Canada-bound planes, Wall Street Journal reports
Incendiary devices that ignited in Germany and the United Kingdom in July were part of a covert Russian operation that aimed to start fires aboard cargo and passenger flights heading to the U.S. and Canada, the Wall Street Journal (WSJ) reported Monday, citing Western security officials.
Months after VRBO booking, Taylor Swift fan told home 'not available' during Vancouver concert
A frustrated Taylor Swift fan is speaking out after being pushed from a short-term rental she booked for the upcoming Vancouver leg of the superstar’s Eras Tour.
3 arrested as protesters clash outside Hindu temple in Surrey, B.C.
Three people were arrested after duelling protests erupted into violence outside a Hindu temple in Surrey, B.C., over the weekend, according to the RCMP.
Musk PAC tells Philadelphia judge the US$1M sweepstakes winners are not chosen by chance
A lawyer for Elon Musk 's political action committee told a judge in Philadelphia on Monday that so-called 'winners' of his US$1 million-a-day voter sweepstakes in swing states are not chosen by chance but are instead chosen to be paid 'spokespeople' for the group.