A rendering of the renovated shopping centre at the base of the tower. PHOTO: Manulife Investment Management
A major redevelopment of an office and retail tower in downtown Edmonton is scheduled to begin this summer.
Manulife Investment Management said Jan. 14 it plans to spend $30 million to modernize the exterior facade of the shopping centre, reposition certain storefronts and redo the interior floors and lighting. The asset management arm of Manulife Financial Corp. also plans to add a 45,000 sq. ft. rooftop terrace to the building.
The 36-storey tower currently has about 745,000 sq. ft. of office area and 100,000 sq. ft. of retail space. It’s jointly owned by Manulife and Alberta Investment Management Corp., better known as AIMCo.
The renovation project is scheduled to start in mid-2020. The company said details about the contractor that will take on the work and the size of the construction crew will be available in the coming weeks.
