In a significant development for downtown Edmonton, the City Centre property is set to undergo a transformative makeover following its acquisition by local real estate developer Westrich Pacific. The Alberta Court of King’s Bench approved the purchase from Otera Capital Inc. on August 7, marking a pivotal moment for a site that has struggled to draw visitors in recent years.
A Prominent Site in Transition
Located on 102 Avenue and spanning approximately 10 acres from 100 Street to 103 Street, Edmonton City Centre encompasses an extensive 1.4 million square feet of space. This includes the office towers of TD Tower, Oxford Tower, and Centre Point Place, along with both the eastern and western sections of the mall. The site also features four parking areas, accommodating around 2,500 vehicles.
David Sanche, co-CEO of Westrich Pacific, expressed enthusiasm for the project, stating, “This is the most exciting project of our careers. Edmonton City Centre has incredible potential, and we believe its transformation can play a meaningful role in the continued revitalisation of downtown.”
Ambitious Redevelopment Plans
Westrich Pacific plans to embark on a multi-phase redevelopment of the City Centre mall, with an aim to introduce vibrant residential, retail, entertainment, and wellness offerings. The first phase is expected to see the creation of approximately 1,500 residential units on the west side of the mall, where the now-closed Hudson’s Bay department store once stood.
In addition to residential units, the new owner intends to redesign the mall’s exterior, enhance street-facing retail spaces, and even incorporate a rooftop Nordic spa. Co-CEO Richie Lam shared his excitement, remarking, “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.”
Future Phases and Community Integration
The vision for the City Centre extends beyond the initial phase, with Westrich Pacific planning a comprehensive enhancement of the property. Future developments may include a revitalised exterior, modern LED displays, an expanded range of retail options, and a strong emphasis on entertainment and wellness experiences. Currently, the mall features a Landmark Cinemas theatre, a Delta hotel, a food court, and offices for CBC Edmonton, but the aim is to create a more engaging environment that integrates seamlessly with the surrounding community.
With the court’s approval now secured, Westrich Pacific will begin working on development permit drawings and detailed plans for the redevelopment. Subject to the necessary approvals, major construction for the first phase is anticipated to commence in early 2027, with additional phases progressing as market conditions allow.
A Complex History
The journey of the Edmonton City Centre has been tumultuous. In 2019, Oxford Properties sold multiple mixed-use buildings, including the City Centre, to an investment consortium known as LaSalle Canada Property Fund. The onset of the pandemic, however, led to a significant decline in foot traffic as many office workers transitioned to remote work. This shift, compounded by increasing social issues in the city’s core, culminated in the mall entering receivership in July 2025, when Otera Capital Inc. was owed a staggering $140 million.
The sale to Westrich Pacific, the terms of which have not been disclosed, is expected to close by the end of 2026.
Why it Matters
The redevelopment of Edmonton City Centre represents a crucial opportunity not only to revitalise a struggling landmark but also to contribute to the broader rejuvenation of downtown Edmonton. As urban spaces adapt to changing lifestyles and preferences, the transformation of this site could serve as a template for future developments, fostering a vibrant community hub that attracts residents and visitors alike. The project stands to enhance the urban landscape, promote economic growth, and ultimately reshape the perception of downtown Edmonton as a thriving, dynamic destination.
