Phipps-McKinnon building in Edmonton to become partial residential conversion

EDMONTON – Edmonton’s Phipps-McKinnon building is set to become a partial office-to-residential conversion project.

Local Edmonton investor Raka Josan of Josan Properties is acquiring the 200,000-square-foot property, located in the hospitality district of Rice Howard Way, along with two other properties, an Avison Young release said.

Avison Young will lease the office space, while the remaining space will be converted into residential units.

“What’s interesting is it won’t be an ‘all or nothing’ adaptive reuse project, where everything is converted to residential: part of the building will be residential while the other part will remain office – catering to the best of both worlds by meeting demand in Edmonton’s housing sector and still fulfilling the need for a vibrant workplace in the central social district. Josan Properties will introduce an impressive amenity floor that will appeal to both residents and professionals,” Avison Young director of North America media relations Andrea Zviedris said in a statement.