EDMONTON - Overshadowed by a trio of office towers on the rise downtown is a quieter construction boom as owners renovate and rebrand older buildings to attract and keep tenants in a growing market.

The Ledgeview Business Centre is poised to open as the latest redevelopment.

“It’s a new building from where it was a year ago to today,” said Michael Hungerford, a partner at Vancouver-based Hungerford Properties, which bought the building a year ago.

Crews are finishing renovations at the former Capital Place building, at 9707 110th Street, in time to showcase it to commercial real estate brokers at an open house on March 4.

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In 1964, George Hungerford won an Olympic gold medal for rowing. It should come as little surprise then to learn that the company in which he’s a partner, Hungerford Properties, is bringing its “A” game to commercial real estate.

The Vancouver-based real estate developer is making a name for itself by taking on buildings other companies shy away from and redeveloping them into viable commercial properties.

“It’s not easy the kind of investing we do,” Michael Hungerford said in an interview with Property Biz Canada. Hungerford, George’s son and a partner in the firm, said the company seeks out buildings the company can refurbish and change.

The most recent example of the company’s work is its recent purchase for an undisclosed price of the Capital Place building in Edmonton. Although the Hungerford family’s roots go back six generations in the prairie city, Capital Place represent Hungerford’s first commercial real estate acquisition in the Alberta capital.

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To learn more about Ledgeview, click here.

EDMONTON - Edmonton's downtown is poised to gain more higher-end office space, with a Vancouver-based developer planning to refurbish the former Capital Place building. The nine-storey office and commercial structure in the government district, at 9707 110th Street, was recently purchased by Hungerford Properties. No details of the sale were announced.

It has been rebranded the Ledgeview Business Centre, a nod to the 138,000-square foot building's proximity to the river valley and the Alberta Legislature. Hungerford Properties will spend more than $3 million to modernize the 1980 building's mechanical, electrical and elevator systems, renovate the office and retail units and make the streetfront more accessible and appealing. The work, which has already started, will transform the building over the next 18 months.

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To learn more about Ledgeview, click here.

Hungerford Properties has recently purchased an exciting property in Edmonton called Ledgeview Business Centre. Located in the Government District, across from the city’s most beautiful park and with views of the North Saskatchewan River, Ledgeview will see a major investment in the renovation and redesign of the old Capital Place building. Hungerford will officially launch Ledgeview with two show suites, along with announcements of exciting new plans for enhanced interiors, new retail façade and renovations to the office and retail units.

With over 138,000 square feet, Ledgeview will provide Edmonton businesses with a rare opportunity to lease a large-scale space in a building with new management and a new vision. The building is now able to accommodate tenant requirements ranging from 500 to 49,223 square feet. Owned and professionally managed by Hungerford Properties, the spaces will be tailored to the exacting needs of each business and serviced to ensure operations are worry free.

This unparalleled location across from Victoria Park will provide a fantastic lifestyle alternative to leasing in the financial district where prices are higher. Tenants can enjoy the many outdoor recreation opportunities right outside their door, including running along the park trails, climbing the stairs, going for a walk, joining a boot camp session, or joining the nearby Royal Glenora Club.

Ledgeview offers unobstructed sweeping views of the River Valley and the nearby historic Alberta Legislature Building. With the location just on the edge of the central business district, tenants will still have proximity to the conveniences of downtown as well as an easy commute (it’s just stops away from the Grandin LRT and the High Level Bridge).

Stay tuned for more details this fall.

To learn more, please check out the website: www.ledgeviewcentre.com

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