Westrich Pacific is set to acquire Edmonton City Centre from Otera Capital, with the transaction expected to close before year-end.

The Alberta Court of King’s Bench approved the sale Aug. 7, the Edmonton developer announced. The purchase price was not disclosed.

Westrich plans a multi-phase mixed-use redevelopment introducing residential, retail, entertainment and wellness uses to the downtown Edmonton property.

The first phase is expected to include approximately 1,500 residential units on the former Hudson’s Bay portion of the site. Plans also contemplate a redesigned exterior, new street-fronting retail space and a rooftop Nordic spa.

Future phases could bring a broader exterior transformation, dynamic LED displays and additional retail, entertainment, wellness and experiential destinations.

Westrich will now advance development-permit drawings and detailed planning. Subject to required approvals, major construction on the first phase is anticipated to begin in early 2027. Subsequent phases would proceed as market conditions permit.

“This is the most exciting project of our careers,” Westrich co-CEO David Sanche said.

Edmonton City Centre encompasses approximately 1.4 million square feet of leasable space across 10 acres and two full city blocks. The property includes two mall sections, three office towers, three parking facilities and approximately 2,567 covered stalls.