The nearly century-old CIBC building at 10102 Jasper Avenue in Edmonton has been listed for sale, with the bank confirming that all tenants have vacated and its central branch has moved to the Ice District. The five-storey stone and brick structure, built in 1929, is one of the few pre-Second World War buildings still standing in the city and was used for its original banking purpose until recently.
Sale details and relocation
The property was listed this week by Colliers. CIBC spokesperson Tom Wallis said the new full-service banking centre in Ice District, which opened in January, is designed to enhance client experience and provide more space for staff. The bank had operated and leased out the building from the beginning, with substantial renovations at the turn of the century.
Mark Basi, senior associate in investment sales at Colliers, called the building a “generational asset.” He said, “What we’d like to do is sell it to someone that’s going to treat it like a generational asset.” Basi emphasized that the main floor is unlike anything else in the city, and he hopes the next owner can re-envision the space for another 100 years.
Heritage status and future use
Although the building lacks a protected historical designation, it is listed on Edmonton’s inventory of historic resources. Kyle Schole, a heritage enthusiast and former vice chair of the Edmonton Historical Board, noted that in the late 1980s and early 1990s, there was talk of demolition, but advocacy from city council and residents prevented it. He added that without a formal designation, there is no legal protection for the building’s future.
The Colliers listing describes the sale as an opportunity to “reposition, repurpose or re-tenant a heritage building that is unlikely to return to the market for the foreseeable future.” The building features a prominent main banking hall, additional office floors, a partially developed basement, and access to the downtown pedway system.
Schole said such spaces contribute more to the city when they are “animated,” giving them greater meaning. He compared it to cherished places like the Garneau Theatre, the Strathcona Public Building, and the Brewery District in Wîhkwêntôwin, adding, “We need more of them, not fewer.”
