Qualico Properties says its next downtown Edmonton tower proposal could reach a much higher standard than initially expected.

The builder says the new height responds to changing market conditions and the rapid success of its latest residential project.

Qualico has given the Epcor Tower on 101st Street a true next-door neighbor on its Stationlands site.

The residential building is called Shift and offers small units with perks.

“You’re renting a small unit, but you have 10,000 square feet of amenity space,” Mike Saunders, senior vice-president of Qualico, told CTV News Edmonton last week.

Qualico has already rented 90 of the 285 accommodations, the speed with which Shift rents – especially to students – a pleasant surprise for Qualico.

This has a dramatic effect on plans for the 9.1-acre Stationlands parcel, stretching from 101st Street to 97th Street, which Qualico has owned since 1998. Originally, the master plan for the land called for five towers offices, but with the development of In the neighboring Ice District, the project has changed and now involves the construction of seven residential buildings.

“We’re probably a lot more optimistic than we were 12 months ago,” Saunders said.

“Demographic trends and immigration in Alberta, and particularly in Edmonton, really helped inform these decisions.

Qualico thus has more confidence in the potential of its space located on the northern edge of the city center.

What was initially planned as a 25-story building on the walled podium for the second phase of the project is now growing into something much larger.

A rendering of Qualico Properties’ Shift residential project on 101st Street in downtown Edmonton which includes a 37-storey tower, left. (Credit: Qualico Properties)“At the top (of the podium) there would be 37 stories with just under 400 units,” Saunders said.

These units are essential for Edmonton, which is still struggling after the COVID-19 pandemic to get the downtown momentum going again.

“What we’re proud of is that we’re part of the solution for downtown. We’re not seeing a lot of investment right now. There are a lot of big projects – the warehouse district park is a great example of what is being done as part of our revitalization efforts.

“We also see that Stationlands presents a great opportunity for investment and attraction for people to come downtown, because pre-COVID we were seeing a strong trajectory of downtown and its vibrancy. We just have to go back. This requires a coordinated effort. between private industry, post-secondary institutions and all levels of government, to work in a cohesive way that will allow us to recover as we should.

Consultants who toured downtown told the Edmonton Downtown Business Association and stakeholders exactly that, said Puneeta McBryan, director of the association.

“The most constructive and direct feedback they gave us was simply, ‘You need more people here. You need more residents downtown,'” McBryan told CTV News Edmonton .

“It will support whatever you’re trying to do.”

Drawings of Qualico Properties’ Shift residential project on 101st Street in downtown Edmonton which includes a 37-storey tower, right. (Credit: Qualico Properties)That’s something Saunders agrees with, but as for when Qualico might be ready to greenlight the next 37 floors toward that goal, stay tuned.

“We will work on our design drawings and do a lot of additional verification based on market conditions,” Saunders said. “A lot of it depends on what economic conditions look like in 2028 or 2029.”