BMO demolition could pave way for Edmonton's tallest tower

A stone frame and hollow belly are what isleft of the former Bank of Montreal building in downtown Edmonton.

Regency Developments began tearing down the structure at 102ndAvenue and 101stStreet earlier this week. The company bought the six-storey building last March.

With the bank's operations slated to move at the end of 2017, Raj Dhunna, Regency's chief operating officer, said thecompany was looking for new tenants.

"We really had no plans to actually demo it when we first purchased it," Dhunna told CBC News.

The building was designed specifically to house a bank and he said it wasn't clear if the company could secure a single tenant for the entire building or haveto divide it into sections.

The situation changed before they could find a suitable tenant.

With LRT construction starting along that section of 102nd Avenue, Regency learned itwould have to demolish the building now or wait three years.

"We had quite a bit of interest, but we had to make a decision to go one way or the other, really fast," Dhunna said.

The city approved demolition and hoarding permits in late December.

Going up

Plans for the site are far from finalized but Regency has a vision of what willreplace the old building.

The company is planning a mixed-use tower with commercial space on the main level,and a hotel and residential condominiumson top.

"Everybody knows it's one of the premier corners in the core of our city," Dhunnasaid. "So to bring density and height and shaping that corner, a lot of people are really excited."

Ian O'Donnell, executive director of the Downtown Business Association, approves of the demolition and Regency's plans for the land.

"It is a very prominent site," O'Donnell told CBC News. "Ithas a lot of potential and could contribute significantly to adding some more vitality and vibrancy to our downtown core."

He said the tall,mixed-use towers are a relatively new concept inEdmonton but exist in other cities.

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Two towers under construction in the Ice District near Rogers Place have mixed uses. Both the J.W. Marriott hotel and StantecTower have residences planned fortheir upper floors.

O'Donnellsaidhe'd like to see more projects like these in Edmonton.

Shaping the skyline

If built, the new tower would be 45 to 50 storeyshigh, makingit one of the tallest condo buildings in downtown Edmonton.

Regency isn't afraid of heights and is no stranger to controversy.

The company developed Pearl Tower on Jasper Avenue, and is behind the Emerald planned for Jasper and114thStreet.

Dhunna said when the company first proposed the 36-storey Pearl, there was a lot of opposition.

"It was shaping the skyline the first of its kind. It was precedent-setting in design. Itwas precedent-setting in height," he said.

The company has rezoned several properties since then.

"You see that mind shift and the lifestyle shift," Dhunnasaid. "So you're seeing a lot less opposition to density and height than you used to a decade ago."

Historically bad reputation

Not everyone is happy with the end of the Bank of Montreal building.

Coun. Scott McKeen lamentedcouncil didn't have much recourse to save the structure.

Built in 1984, the building had no historic designation but was still unique for the city, he argued.

"It's a majestic building," McKeen said. "You might love it or hate it but it's that kind of design that makes it stand out."

McKeen said the situation is a exampleof the city's past struggles to preserve historic buildings.

Despite several years of debate, the historic Tegler building, dating to 1911, was demolished in 1982 to make way for the Bank of Montreal building.

"We don't have a strong record in Edmonton of saving buildings,"McKeensaid.

Although there are proponents of saving older buildings, he said Edmonton as a whole has not developed a culture of "architectural appreciation."

"It's not a broad or embedded or ingrained value in Edmonton."

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O'Donnell doesn't believe the Bank of Montreal building is in the same category as other historic buildings.

"Many people would say that that building itself and that design was very cold and very stark in terms of being inviting and really contributing to street life," he said.

Regency aims to complete the demolition by April and then build an underground parkade.

While this work is going on, Dhunna said the company will look at designs and reachout to potential commercial tenants.

The company aims to start building the tower in mid- to late 2019.

O'Donnell doesn't wantthe lot to stay vacant for too long, but is confident the company will move forward as quickly as possible.

"Regency has a good track record of building," he said.

Given the appeal of the site, O'Donnellbelieves there will be a lot of interest from potential tenants.

@natashariebe