A former gravel parking lot at a prominent downtown intersection has been reintroduced to Edmonton as the initial phase of The Parks — a 36-storey luxury apartment tower.
Spearheaded by Edmonton-based Maclab Development Group, The Parks aims to establish a residential anchor that links the city’s business, entertainment and educational districts. The mixed-use project is planned to ultimately consist of two towers connected by a mid-rise building with direct access to the Corona light rail station.
The location advances Edmonton’s housing goals that prioritize density and walkability. Tenants are steps from O-day’min Park — the city center’s newest public green space — and the Alberta Legislature Grounds, NorQuest College and MacEwan University are close by.
Designed by Hariri Pontarini Architects, HOK Group and Dialog, the $121 million tower’s design includes a lattice that crowns the 36th floor rooftop patio creating a distinctive silhouette on the skyline. The podium features about 6,700 square feet of ground-floor retail.
About the project: Zen Residential serves as the property manager, overseeing operations and leasing for the building’s 363 units. Like many real estate developments initiated in the post-pandemic era, The Parks navigated a volatile cost environment characterized by rising prices for materials and labour, as well as periodic supply-chain disruptions.
A panel of real estate professionals voted the project a 2026 CoStar Impact Award winner for multifamily development of the year in Edmonton.
Since receiving its occupancy permit in March 2025, the tower achieved 60% occupancy within nine months, an indicator of demand for transit-oriented housing. Over 400 residents now reside in the building, increasing daily foot traffic and supporting nearby cafes, services and cultural venues.
What the judges said: “Impressive new product offering to the market,” said Samuel Dean, senior vice president, JLL.
“By converting dormant land into a high-performing, transit-oriented community that is already driving occupancy, street vitality and renewed investor confidence, The Parks exemplifies the power of thoughtful redevelopment to reshape and revitalize Edmonton,” said Tyler Weiman, partner, Royal Park Realty.
They made it happen: Josh Cura, marketing manager, Maclab Development Group; Jamey Singh, vertical development manager, Maclab Development Group.