Edmonton-based Westrich Pacific has received court approval to acquire Edmonton City Centre, setting the stage for a major redevelopment of the downtown property that is expected to begin with approximately 1,500 residential units on the former Hudson’s Bay portion of the site.
The Alberta Court of King’s Bench approved the sale on August 7, with the transaction expected to close before the end of 2026. Westrich plans to begin major construction on the first phase in early 2027, subject to required approvals.
The first phase is expected to include the residential units along with new street-fronting retail, a redesigned exterior and a rooftop Nordic spa. Future phases are envisioned to bring additional retail, entertainment, wellness and experiential uses to Edmonton City Centre, along with a new exterior treatment for the mall and LED displays.
Westrich is now advancing development permit drawings and detailed planning for the redevelopment. The company has not yet disclosed the configuration of the residential component, including the number or height of buildings, housing tenure or the extent to which existing structures would be retained, altered or replaced.
A 1.4-Million-Square-Foot Downtown Complex
Edmonton City Centre encompasses approximately 1.4 million square feet across about 10 acres in the heart of Downtown Edmonton. The property includes Edmonton City Centre West, Edmonton City Centre East, Centre Point Place, TD Tower, 102A Tower and multiple parking facilities.
The shopping centre itself has historically been described as comprising more than 725,000 square feet, while the broader complex contains a substantial office component. Westrich says the property includes approximately 2,567 underground and covered parking stalls.
Edmonton City Centre is also integrated into the downtown transit and pedestrian network, with connections to the Metro and Capital LRT lines through Churchill Station and the Valley Line Southeast through the 102 Street stop. Pedway connections link the property with other parts of Edmonton’s financial core.
Former Hudson’s Bay Site Becomes Starting Point
The first phase is planned for the former Hudson’s Bay portion of Edmonton City Centre, connecting the proposed residential development to one of the most significant vacancies in the property’s recent history.
Hudson’s Bay occupied approximately 168,000 square feet at Edmonton City Centre before closing its downtown location in 2021. Its departure removed the shopping centre’s last traditional department store anchor and left a substantial amount of space requiring a new long-term use.
Westrich has not yet disclosed how the approximately 1,500 residential units will be configured on that portion of the property. Development permit drawings are now being advanced, leaving questions around building heights, demolition, adaptive reuse and the relationship between the residential development and existing mall structures to be answered as planning progresses.
Years of Change at Edmonton City Centre
Edmonton City Centre has evolved through several generations of downtown retail development. Its history includes Edmonton Centre, which opened in the 1970s, and Eaton Centre, which followed in the 1980s. The properties were subsequently combined under the Edmonton City Centre name.
Oxford Properties undertook a major modernization during the mid-2010s, including changes to the food court, retail configuration and parking. The broader property was sold in 2019 in a transaction later disclosed through court materials to have involved a purchase price of approximately $311.5 million. LaSalle Canada Property Fund led the ownership group, with financing provided in part by Otéra Capital.
Major tenant departures followed. Hudson’s Bay announced in 2020 that it would close its downtown Edmonton store and exited the following year. Sport Chek and Atmosphere subsequently left Edmonton City Centre in 2023 after declining to renew their leases. Women’s retailer Talbots, which opened its Edmonton store in 1991, is not expected to renew its lease next year according to sources.
The centre has continued to operate with retailers and businesses including Winners, Landmark Cinemas, Shoppers Drug Mart and Dollarama, among other tenants. The anchor departures nevertheless left large spaces requiring new uses as downtown shopping and work patterns were also changing.
Property Entered Receivership in 2025
Edmonton City Centre Inc. was placed into receivership in July 2025 following an application by secured lender Otéra Capital, with PricewaterhouseCoopers Inc. appointed as receiver.
Court materials show that Otéra provided financing connected to the 2019 acquisition, including a $128.5-million acquisition loan and a capital expenditure and leasing facility of up to $27 million. Required payments were not made beginning in late 2024, and approximately $139.5 million was owed to Otéra by June 2025 before additional interest, expenses and costs.
Westrich Management Ltd., or its nominee, entered into a purchase and sale agreement for Edmonton City Centre on July 20, 2026. PwC subsequently sought court approval for the transaction, which was granted August 7.
The purchase price has not been publicly disclosed, with portions of the sale materials remaining confidential pending completion of the transaction. Closing is expected before the end of 2026.
1,500 Homes Could Add to Downtown Customer Base
The proposed residential development comes as Edmonton works to increase the number of people living in its downtown core. Nearly 13,000 people currently live downtown, according to the City of Edmonton, while the area has a much larger daytime population of workers, students and visitors. Increasing the residential population has become an important part of efforts to create more activity outside conventional working hours and support businesses throughout the week.
Adding approximately 1,500 homes at Edmonton City Centre would increase the residential base immediately within one of downtown’s largest commercial properties. Those households could provide regular customers for restaurants, retailers, personal services, entertainment and wellness businesses at Edmonton City Centre and elsewhere nearby.
That customer base could be particularly relevant during mornings, evenings and weekends, when businesses that depend heavily on commuters and office workers can experience lower traffic.
Restaurant Closures Highlight Downtown Challenges
The redevelopment is being proposed during a difficult period for some Downtown Edmonton businesses. A series of restaurants closed during June and July 2026, including Greta, Bündok, PlayWright, Khazana and kb&co.
Operators and downtown business organizations have pointed to several pressures rather than a single cause, including construction disruption, reduced foot traffic, accessibility and parking challenges, public-safety concerns, hybrid office work and higher operating costs.
The Edmonton Chamber of Commerce said in July that nearly 20 businesses had closed in the core during 2026 and called for action on construction coordination, accessibility, public spaces and safety. The Downtown Revitalization Coalition has similarly raised concerns about conditions affecting businesses downtown.
The closures are only one part of the downtown economy. Established businesses continue to operate, investment is taking place and parts of the commercial real estate market have recently shown improvement. The restaurant losses have nevertheless renewed discussion about how Downtown Edmonton can generate more consistent foot traffic and support businesses outside the weekday office cycle.
Street-Fronting Retail and New Uses
Westrich’s plans would combine the new residential population with a broader commercial mix at Edmonton City Centre. Existing offices would continue to contribute daytime traffic, while entertainment and wellness uses could attract visitors during evenings and weekends.
Street-fronting retail is another notable component. Edmonton City Centre has historically been oriented heavily toward interior mall corridors and the downtown pedway network. Creating additional commercial spaces facing surrounding streets would establish more direct connections between businesses in the property and pedestrian activity outside.
The proposed Nordic spa would add a destination wellness component, while future phases are also expected to include entertainment and other experiential uses. Together with the residential development, the plans would create several different sources of activity within a property that has historically been centred primarily on retail and offices.
Westrich Has Deep Edmonton Residential Experience
Westrich Pacific is an Edmonton-based multifamily and mixed-use developer with experience building residential projects in and around the downtown core. Its portfolio includes high-rise developments such as Ultima and Encore, along with other condominium and rental projects.
The company continues to pursue residential development elsewhere in Edmonton. Its Grandin City plans, for example, have included multiple residential towers, while other current projects include multifamily developments in different parts of the city.
Westrich has also expanded into consumer-facing businesses. The company holds the Canadian development rights for Los Angeles-founded restaurant concept Eggslut and is overseeing the brand’s expansion into Canada.
At Edmonton City Centre, however, the scale is considerably larger. Approximately 1,500 residential units are contemplated in the first phase alone, within a property that also contains hundreds of thousands of square feet of retail and office space.
Downtown Edmonton Presents a Mixed Picture
The restaurant closures and concerns raised by downtown business operators come alongside more positive indicators elsewhere in the core.
Parts of Edmonton’s office market have recently shown improvement, including declining sublease availability, while residential development and public investment continue. Efforts to increase the number of people living downtown are also intended to create a more consistent population supporting businesses, public spaces and amenities throughout the week.
Edmonton City Centre sits at the intersection of many of those issues. It contains a large retail component, office space, extensive parking and direct transit connections, while Westrich is now proposing to add a substantial residential population and new destination uses.
Edmonton Mayor Andrew Knack said the investment represents a sign of confidence in downtown.
“This investment by Westrich is a strong sign of the revitalization we are seeing in our downtown core,” Knack said. “Westrich has a proven track record of getting projects built and bringing more people into the heart of the city.”
Major Details Still to Come
Several important elements of the redevelopment have not yet been disclosed, including the acquisition price, total development cost, configuration and height of the residential buildings, housing tenure, extent of demolition or structural changes, and the eventual amount of retail space within Edmonton City Centre.
Westrich has also not identified the operator of the proposed Nordic spa or specific entertainment and wellness concepts being considered for later phases. More information is expected as development permit drawings and detailed planning advance.
Subject to required approvals, Westrich expects major construction on the first phase to begin in early 2027, with subsequent phases proceeding as market conditions permit. The transaction itself is expected to close before the end of 2026.
