Edmonton’s Phipps-McKinnon office building will be partially converted to residential use.

Raka Josan, a local investor and developer, intends to turn the tower into a mixed-use development. The 200,000,000-square-foot property is located in the hospitality district along Rice Howard Way.

Josan’s company, Josan Properties, acquired the building in March, along with the neighbouring Sherlock Holmes pub and Sorrentino’s restaurant sites. He chose to continue to develop the Phipps-McKinnon multi-residential component even after the City of Edmonton decided not to provide an office-conversion incentives program like the highly popular one in Calgary.

An Avison Young team led by Cory Wosnack, managing director of the company’s Edmonton operation, will co-ordinate the redeveloped building’s office-leasing activities. The company says the redevelopment will cater to the best of both worlds by meeting demand for housing and still fulfilling the need for essential workspace in the central social district.

Josan Properties will introduce an impressive amenity floor that will appeal to residents and professionals alike, said Avison Young. The pub and restaurant are slated to remain intact.