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Alberta & Prairies  + Multi-residential Housing  | 
Edmonton's Phipps-McKinnon office building will be partially converted to residential use.

Edmonton’s Phipps-McKinnon Building to Undergo Partial Office Conversion

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.


Inside The Story

Cory WosnackRaka Josan

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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