Article content

Calgary developer Cidex Group bought up two key Edmonton sites this week, feeding hopes an increase in outside competition will raise the bar for building design here.

“I’ve been watching the Edmonton market for years and decided to make our move,” said Abed Itani, president of Cidex Group, which just bought from the city the Five Corners site — a giant hole 10-metres deep on Jasper Avenue — and a surface parking lot off Whyte Avenue beside The Keg.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or Calgary developer's Edmonton land purchases raise hopes of more attractive architecture Back to video

Both sales are subject to environmental and geotechnical conditions, but a deal was approved earlier this week by city council’s executive committee.

Edmonton has some interesting towers, but others aren’t much more than “a rectangle with bolted on balconies,” said Coun. Scott McKeen. He’s looking for someone to set a higher standard.

When interest from Vancouver and across Canada increased competition in Calgary, it became obvious designs that stood apart were going to sell faster, said Calgary Coun. Evan Woolley, who had only good things to say about working with Cidex Group.