CALGARY, ALTA. — At 620,000 square feet of rentable commercial space, the former Scotia Centre tower located at Stephen Avenue Walk and 2nd Street in the core Calgary’s downtown will soon be undergoing a major renewal.
According to a press release, Slate Canadian Real Estate Opportunity Fund recently named the 40-storey tower Stephen Avenue Place and has plans for a major renovation “that will reposition it as a modern hub for energy, innovation, and business, dining and shopping.”
Designed by Zeidler Partnership Architects, the building will undergo a complete interior restoration from the public-access ground floor to retail spaces on the second and third-floors and the top-floor, as well as cladding and glazing of the building podium.
Slate will be collaborating with Oliver & Bonacini Hospitality and Concorde Entertainment Group to create a world-class restaurant on the top floor of the tower, a food hall as well as a restaurant, bar and patio on the street level, the news release highlighted.
With construction set to start in early 2019, Slate hopes for the restoration work to be completed by early 2020.
Stephen Avenue Place is named for George Stephen, the first Baron Mount Stephen, who was the visionary, businessman and financier behind the creation of the Canadian Pacific Railroad.
“We are thrilled to acquire and develop such a high-quality property in downtown Calgary that offers businesses, diners and shoppers the very best in location, amenities and access,” said Slate founding partner Blair Welch in the release. “Stephen Avenue Place will undergo an extensive renovation to fully reflect the way we work and live now, while respecting and celebrating its history and future as a Calgary landmark.”