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Toronto developer Brad Lamb says Alberta’s economy is on the mend and he’s moving ahead this year with two downtown Edmonton residential towers.

Construction will start this summer or fall on Jasper House, a 37-storey luxury building slated for what has been parking lots along 106 Street north of Jasper Avenue, the president and owner of Lamb Development Corp. said.

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“The environment in Alberta has not been kind to real estate developers of any kind in the last two years, but it’s changing,” he said.

“It’s not clear sailing in Alberta, but it’s way better than it was.”

He expects the 240-unit tower will be completed in about 2020, a year later than originally planned because of the energy industry downturn.

One- to three-bedroom condos are being advertised starting at $285,900.

Photo by Perry Mah

Meanwhile, a public meeting is scheduled Wednesday to discuss rezoning the property next door for Lamb’s approximately 40-storey, 320-unit North Tower. Although the technicalities are being pursued, with a dozen projects across Canada in the pipeline, Lamb likely won’t start marketing North Tower until 2018.