[northlands]

Didn't realize this was considered a Class A office asset. PSF operating costs are quite reasonable relative to comparables. Probably not in the cards but I'd love to see new glazing+mullions, the current nicotine-stain brown tinged windows really age what is otherwise not a bad looking building.

Lot of potential here... IMO it has one of the best podiums on Jasper Ave.

per Colliers 2025 Q2 report (thanks @Kosy123 for linking it originally)

 

[David A]

I think that is just the colour of the glass that was installed, which was fashionable at the time it was built. We haven't had smoking inside offices allowed in Edmonton since sometime in the 1990's.

I hope the windows have been cleaned since then. However, I do wonder if the conversion will involve any noticeable changes to the exterior.

 

[northlands]

It's definitely how the glass was intended to look, very 1980s, just used the nicotine stain brown as a descriptor of the colour.

 

[kcantor]

Certainly a flight to quality is occurring, but it's a broader question of how to position Edmonton for more commercial growth.

I'm pretty sure that positioning Edmonton for more commercial growth is a matter of capitalizing on our core strengths.

I'm also pretty sure that maintaining an inventory of vacant, outdated and functionally obsolete office space isn't a core strength.

 

[ChazYEG]

Certainly a flight to quality is occurring, but it's a broader question of how to position Edmonton for more commercial growth.

Having more people living downtown is a great way to position Edmonton for more commercial growth, imho. With all the conversions and units currently under construction and/or announced (with construction imminent), what are we adding in terms of units? Somewhere in the realm of 1000 units, maybe more (not counting new Shift, Parks and Falcon, which could see that balloon to close to 2500 units), that's thousands more people living Downtown, which, as per your own opinions expressed over time in this forum, should bring in more retail and hospitality to the area.

 

[David A]

It's definitely how the glass was intended to look, very 1980s, just used the nicotine stain brown as a descriptor of the colour.

Also intended to match the brick colour I suspect. Of course it can be changed, the former Scotia Place no longer has the old gold windows from that era, but that might be more of an undertaking than intended.

 

[David A]

On the other hand, speakers at the CRL hearing pointed out that the prime stuff (like A-rated offices) are in high demand - it's the lower quality offices (ie C) that are doing poorly. So it could be that offices are still in demand, but employers need high quality spaces in order to get employees on board with working in the office three, four, or especially five days a week.

Yes, this building and some others from that era have very high vacancy now partly because bigger, nicer, newer buildings were built and tenants have moved there over the last few years, so this is where is where we are at.

I feel it is better they realize the situation and come up with the best plan to enhance their buildings, which I feel is this. The additional residents will make the area more vibrant and probably help this building to become more vibrant again too.