Peak Tower | 99.06m | 23s | Lighthouse HM | Davignon Martin

What do you think of this project?

  • I like it a lot

    Votes: 8 26.7%

  • I like it

    Votes: 16 53.3%

  • I neither like nor dislike it

    Votes: 6 20.0%

  • I dislike it

    Votes: 0 0.0%

  • I dislike it a lot

    Votes: 0 0.0%
  • Total voters
    30
What was the intended use of the building when it was built? Was it built specifically for IPL or Enbridge at the time? I've always been curious as to why IPL/Enbridge was in downtown Edmonton given they are headquartered in Calgary and if they built that tower themselves. Does anyone know that history?
 
Wasn't IPL's HQ there? I used to know one of their CEOs and he lived with his family here in the SW.
 
archited said:
^^^^ Only if as owner you can endure the wait until hospitality financing emerges once again. Banks that I have spoken with say not for the next 2 years, minimum. There are substantial holding costs on a building this size -- mortgages, interest, taxes, fluctuating building costs -- an enigmatic puzzle, to be sure. An apartment than can be later converted to a hotel would be the smartest way to go -- a building filled with singles units and support entities would provide a good start down that road.
Click to expand...
Yes, good points. I suppose in two years or so, if the rental market is soft it might make good sense to do that. If you design and build with this possibility in mind, the costs to do so would probably not be that significant.

I do still think this location is best suited for hotel, but I think the important thing is something is done with it and it proceeds without much delay.
 
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Permit Type
Major Development Permit
Permit Class
Not Available
Permit Date
Sep 27, 2021
Status
Approved
Description of Development
To change the Use from a Hotel (175 units) and Apartment Hotel (139 Dwelling units) to a Multi-unit Housing with 262 Dwellings, General Retail Store in the Basement, 2 Restaurants on the main floor (CRU 110: 637m2 of public space with 237 seats and CRU 113: 454m2 of public space with 163 seats), and General Retail Stores and Professional, Financial and Office Support Services on the second floor.
Address
10201 - JASPER AVENUE NW
 
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