Colliers is pleased to present a highly desirable residential development site situated in Central Edmonton. This prime corner location within the prestigious Oliver/Wihkwentowin neighborhood offers significant traffic exposure, convenient access to the commercial amenities of Downtown Edmonton, and proximity to the natural beauty of the North Saskatchewan River Valley. Public transportation options, including bus and LRT lines, are readily available in the area.
The site currently generates temporary holding income through retail and office tenants located in Jasper Centre and the Pyrch Building. Upon readiness for development, the site will feature a total buildable area of approximately 800,000 square feet. The existing Site Specific Zoning allows for the construction of two residential towers with main floor retail space. It is important to note that the City may permit a variety of uses and densities at the property.
The existing buildings provide substantial holding income prior to the redevelopment of the site into two residential towers with active mixed-use podiums. These podiums are designed to enhance the pedestrian experience along Jasper Avenue, 115 Street NW, and the adjacent lane, creating a vibrant, people-oriented streetscape that harmonizes with the residential character of Oliver. This represents a strategic investment opportunity for those seeking an income-producing asset today with significant redevelopment potential for the future.
