A significant transformation is on the horizon for the long-struggling Edmonton City Centre as local developer Westrich Pacific has secured approval from the Alberta Court of King’s Bench to purchase the property from Otera Capital Inc. The acquisition, which was announced on August 7, marks a pivotal moment for one of downtown Edmonton’s most prominent sites, which has faced challenges in attracting visitors for years.
Transformative Plans Unveiled
Located on 102 Avenue and spanning approximately 10 acres from 100 Street to 103 Street, the Edmonton City Centre includes a mix of office spaces, most notably the TD Tower, Oxford Tower, and Centre Point Place, amounting to nearly 1.4 million square feet. The site also features four parking areas with a capacity of 2,500 vehicles, making it a central hub in the downtown area.
Westrich Pacific views this acquisition as a landmark step towards revitalising the property, with co-CEO David Sanche expressing immense enthusiasm for the project. “This is the most exciting project of our careers,” he stated, emphasising the immense potential of Edmonton City Centre to contribute to the ongoing revitalisation of the downtown region.
A Vision for the Future
The developer has ambitious plans for a comprehensive, multi-phase redevelopment of the City Centre mall, which will introduce diverse residential, retail, entertainment, and wellness spaces. The first phase aims to transform the former Hudson’s Bay department store area on the west side of the mall into approximately 1,500 residential units.
Additionally, Westrich Pacific is considering a complete redesign of the mall’s exterior, along with new street-front retail options and the introduction of a rooftop Nordic spa. Co-CEO Richie Lam shared his excitement, stating, “I have not been this excited about a project in a long time. 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.”
Enhancing the Downtown Experience
Westrich Pacific envisions further phases that will expand the redevelopment to include aesthetic enhancements, such as LED displays and a stronger focus on entertainment, wellness, and experiential venues. Currently, the mall houses various amenities, including a Landmark Cinemas theatre, a Delta hotel, a food court, and the offices of CBC Edmonton, alongside numerous retail and professional spaces.
With court approval for the sale now secured, Westrich Pacific is poised to advance development permit drawings and detailed planning for the redevelopment. Major construction on the first phase is expected to commence in early 2027, with subsequent phases to follow as market conditions allow.
A New Era for Edmonton’s Downtown
The recent history of the Edmonton City Centre has been tumultuous. In 2019, Oxford Properties sold the mixed-use site, which includes several key buildings, to an investment consortium that faced challenges during the pandemic. The mall fell into receivership in July 2025, when Otera Capital Inc. was owed $140 million, marking a significant downturn for the property.
Westrich Pacific anticipates closing the transaction before the end of 2026, although the sale price has not been disclosed.
Why it Matters
This redevelopment is poised to breathe new life into downtown Edmonton, an area that has struggled with declining foot traffic and increased social issues in recent years. By transforming the City Centre into a vibrant mixed-use space, Westrich Pacific aims not only to attract visitors and residents but also to stimulate economic growth and enhance the overall urban experience. This project represents a beacon of hope for revitalising the heart of Edmonton, potentially setting a precedent for similar initiatives in other urban centres across Canada.