Epic Investment Services has revealed plans for a $45 million redevelopment of the iconic Manulife Place, a 36-storey tower in downtown Edmonton. The project aims to modernize the building’s common areas, amenities, and retail spaces, aligning with Edmonton’s evolving downtown core and the expansion of the ICE District.
The redevelopment, which is already underway, promises a striking new aesthetic and upgraded functionality for both tenants and visitors. The enhancements are expected to reestablish Manulife Place as a premier destination for office and retail in Edmonton.
A Modern Vision for a Historic Landmark
Originally constructed in 1983, Manulife Place was heralded as Edmonton’s most prestigious office building. Its distinctive blue glass tower spans 745,000 square feet of office space across 36 floors, offering a high proportion of coveted corner offices due to its unique floor plate design.
The current redevelopment plans mark a shift from previous efforts. In 2020, Manulife Investment Management announced a $30 million overhaul of the retail podium, including proposed features such as a potential food hall. However, those plans, which were set to begin in spring 2020, were shelved due to the COVID-19 pandemic.
This new $45 million project builds on the plans of the past, with updated priorities and a clear focus on meeting the needs of post-pandemic tenants and visitors.
Transforming the Retail Podium
A key focus of the redevelopment is the two-storey retail podium, which will feature new flooring, energy-efficient LED lighting, and communal spaces designed to enhance the tenant and visitor experience. The retail space will also accommodate new food and retail offerings.
According to the announcement, Canadian Western Bank will anchor the retail and office space (recently acquired by the National Bank of Canada). The podium’s transformation includes new glazing on the ground and second levels, creating an impressive new lobby entrance and a brighter, more modern aesthetic.
New Amenities for Tenants and Visitors
Tenants of Manulife Place will benefit from a range of modern amenities, including:
- A club-quality fitness centre.
- Expanded end-of-trip facilities, including bike storage.
- An exclusive tenant lounge and a conference centre.
- A 45,000-square-foot rooftop terrace, providing a unique outdoor space for relaxation and events.
These upgrades are designed to attract and retain tenants seeking a premier office environment, reinforcing the building’s reputation as a top-tier address in Edmonton.
Economic Impact of the Redevelopment
The $45 million investment in Manulife Place is expected to have a positive ripple effect on Edmonton’s downtown economy. By modernizing its retail and office spaces, the redevelopment will create construction jobs in the short term and support long-term employment opportunities through new tenants.
In particular, the redevelopment could help counteract the economic challenges faced by downtown Edmonton, such as lower pedestrian activity and retail vacancies. The addition of new retail offerings and amenities is likely to enhance the vibrancy of the area, making it a more attractive destination for residents, workers, and visitors.
According to Epic Investment Services, the upgrades will position Manulife Place as a key contributor to Edmonton’s future growth and transformation. By drawing businesses that align with the city’s evolving landscape, the project is poised to play a role in shaping downtown Edmonton’s resurgence.
Challenges in Downtown Edmonton
The redevelopment comes at a critical time for Edmonton’s downtown. Across the street from Manulife Place, the struggling Edmonton City Centre mall has faced significant challenges, including the closure of its Hudson’s Bay store during the pandemic. Lower pedestrian counts and a perception of reduced safety have further compounded issues for the area.
Manulife Place’s upgrades are part of a broader effort to address these challenges. By revitalizing its retail and office spaces, the project is expected to boost confidence in downtown Edmonton as a safe and dynamic destination.
A Nod to the Past, a Step into the Future
Manulife Place has a rich history as a cornerstone of downtown Edmonton’s retail and office landscape. When it opened in 1983, it featured high-end tenants such as Holt Renfrew, which operated in the building until early 2020. Last year, Henry Singer relocated from Manulife Place to the ICE District, reflecting the broader shifts in Edmonton’s retail environment.
With its new redevelopment, Manulife Place is poised to reclaim its position as a premier address in Edmonton. The updated design and amenities reflect the changing needs of tenants and visitors in a post-pandemic world while paying homage to the building’s storied past.
As stated in Epic’s release, “Through this redevelopment, Manulife Place will be reintroduced to the market as a premier address for Edmonton, attracting tenants who will play a key role in shaping the city’s future and contribute to its continued transformation.”
“Lower pedestrian activity” is a very diplomatic way of putting it. There are less people working i in the downtown core nowadays. People in Edmonton don’t want to spend time in the area anymore due to all the homeless, mental illness, and criminal activity that abounds. It isn’t a “perception” of reduced safety downtown, it is reality!
I wish Manulife Place well, but until law enforcement in downtown Edmonton improves and the area is cleaned up, this endeavour will likely fail. It’s sad.