Major Employer Doubles Down on Downtown Edmonton with Strategic Office Relocation
In a significant vote of confidence for Edmonton's urban core, ATCO has announced plans to relocate its corporate offices within the downtown area, maintaining its presence as a major anchor tenant while upgrading facilities for employees. The company revealed on Tuesday, January 20, 2026, that approximately 1,200 employees will transition from their current location on 105 Avenue to the former Canadian Western Bank building at 10303 Jasper Avenue, with the move scheduled to commence in 2028.
Strategic Decision for Downtown Revitalization
Jason Sharpe, ATCO's chief operating officer, emphasized that the relocation decision was driven by multiple strategic factors aimed at supporting downtown development. "We think it's important for the development of Downtown," Sharpe stated. "If there's people Downtown, then businesses will locate Downtown and it kind of builds off each other."
The company identified several key motivations for the move:
- Maintaining connectivity with other businesses in the urban core
- Contributing to downtown revitalization efforts
- Providing enhanced amenities and accessibility for employees
- Securing a modernized workspace with recent upgrades
Enhanced Facilities and Connectivity
The new location, to be renamed ATCO Place, will feature comprehensive renovations and updated facilities that represent a substantial improvement over the current ATCO Centre. According to Sharpe, the company evaluated multiple options before selecting the former CWB building, which had undergone recent upgrades that made it particularly attractive.
Key improvements at the new location include:
- Superior parking facilities compared to the current building
- A new on-site gym for employee wellness
- Secure bicycle storage facilities
- Enhanced co-tenant collaboration areas
- Direct connections to the downtown pedway system and public transit
Significant Impact on Edmonton's Commercial Landscape
Jeremy Deeks, a vice-president with commercial real estate firm CBRE who helped broker the deal, described the transaction as "a big win for Downtown." He noted that "the fact they're committing long-term here and putting their stamp on Downtown is just good news for everybody involved."
Despite the physical move spanning only a few blocks, Deeks highlighted the strategic importance of connecting ATCO employees to the pedway system, which will link them directly to Rogers Place and enhance connectivity throughout the downtown core.
Historical Context and Market Significance
ATCO, which has operated for nearly 80 years, first established its downtown presence in the early 1980s at its current location. The company has owned and sold the distinctive red building multiple times over the decades and was leasing the space when it began searching for new accommodations.
Cory Wosnack, managing director at commercial real estate firm Avison Young, emphasized the rarity of such a substantial transaction in Edmonton's office market. "Edmonton's office landscape is not built on the backs of large occupiers," Wosnack explained. "There is a much higher volume of very small transactions."
He noted that while the average tenant size in Edmonton is approximately 3,000 square feet (about five times smaller than in Calgary), this relocation represents a significant transaction that signals important market developments. The announcement comes as other major players in Edmonton's office market have made similar long-term commitments to downtown locations, coinciding with emerging signs of recovery in vacancy rates following pandemic-related challenges.
The relocation represents ATCO's continued commitment to Edmonton's urban core while providing employees with modernized facilities and improved access to downtown amenities. The 2028 transition will mark a new chapter for the company's nearly four-decade presence in downtown Edmonton, reinforcing its role as a cornerstone of the city's commercial landscape.
