The former Enbridge Tower originally with plans for a new hotel in Downtown Edmonton was traded for apartments.
Lighthouse Hospitality Management planned on converting the space into a hotel after its 2018 purchase — but the tower has been vacant since Enbridge’s exit in 2016.
The 20-story office tower at the corner of Jasper Avenue and 102 Street will become a 274-unit apartment building with studios and one-, two-, and three-bedroom suites with commercial space on the bottom floor. Construction is set to finish by March or April 2023.
The building, newly named Peak Tower because of its peaked roof, will include a large gym, rooftop patio on the third floor, and other amenities.
Converting office towers to residential buildings is uncommon in Edmonton but has been becoming more popular in Calgary as the city attempts to deal with high vacancy rates in the city’s core.
For more on this story, go to Edmonton Journal.