A downtown Edmonton property that has struggled to attract visitors for years is getting not just a new owner, but also a facelift.
On Monday night, Edmonton-based real estate developer Westrich Pacific announced the Alberta Court of King’s Bench approved its proposed purchase of Edmonton City Centre from Otera Capital Inc. on Aug. 7.
The property on 102 Avenue covers about 10 acres of downtown land, stretching from 100 Street to 103 Street.
The office component — including TD Tower, Oxford Tower and Centre Point Place — combined with the west and east sides of the mall represent nearly 1.4 million square feet of space.
There are four parking areas on the site, with a total of 2,500 stalls.
Westrich Pacific called the sale a significant milestone toward the “planned acquisition and redevelopment of one of downtown Edmonton’s most prominent properties.”
“This is the most exciting project of our careers,” said Westrich Pacific co-CEO David Sanche.
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“Edmonton City Centre has incredible potential, and we believe its transformation can play a meaningful role in the continued revitalization of downtown.”
The developer said it plans to undertake a major, multi-phase redevelopment of City Centre mall — introducing new residential, retail, entertainment and wellness uses while improving the property’s connection to the surrounding downtown community.
The first phase is expected to include about 1,500 residential units on the west side of the mall where the now-shuttered Hudson’s Bay department store used to be.
The new owner is also looking at a completely redesigned exterior, new street-fronting retail and a rooftop Nordic spa.
“I have not been this excited about a project in a long time,” said Westrich Pacific’s other co-CEO, Richie Lam.
“It’s the first thing I think about when I wake up and the last before bed; we are thrilled to be bringing this asset back to life.”
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Westrich Pacific said it envisions future phases will include a broader transformation and beautification, including a new exterior treatment for the mall, LED displays, more new retail offerings and a “significant focus on entertainment, wellness and experiential destinations.”
The mall is currently home to a Landmark Cinemas theatre, a Delta hotel, a food court, the offices of CBC Edmonton and other retail and professional spaces.
Westrich Pacific said with the sale now approved by the courts, it will now advance development permit drawings and detailed planning for the redevelopment.
Subject to required approvals, major construction on the first phase is anticipated to begin in early 2027, with subsequent phases “proceeding as market conditions permit.”
In 2019, Oxford Properties sold several mixed-use buildings that span three city blocks in downtown, including Edmonton City Centre, TD Tower, Oxford Tower and Centre Point Place, to an investment consortium called LaSalle Canada Property Fund.
Then the pandemic hit, leading to an exodus from downtown as office workers stayed home for years and social disorder increased in the city’s core.
The mall went into receivership in July 2025, when creditor Otéra Capital Inc. was owed $140 million.
Westrich Pacific said the transaction is expected to close before the end of 2026. The cost of the sale was not disclosed.