Facts at a Glance
The success of the University of Alberta's research activities often leads to innovations with potential commercial applications. Fostering an environment that leads to the growth of research commercialization is a priority for the University and its government partners because of the role such activities play -- including the resulting spin-off companies -- in job creation, quality of life and economic growth.
The university, faced with a space shortage for research and commercialization facilities and growing demand for student access, embraced an exciting opportunity to partner with the municipal, provincial and federal governments to purchase and renovate the historic former Bay Building, a well known landmark on Jasper Avenue and 102 Street in the heart of downtown Edmonton.
The university renamed the building "Enterprise Square" in salute to the building's history as a center of commerce and its future as the home of creative and entrepreneurial activity. The name reflects the enterprising spirit of Edmonton as well as the students and tenants, including TEC Edmonton and the Family Business Institute in the university's School of Business. "Square" corresponds to the shape of the building and the open area inside that will become a gathering and meeting place for those who work, study and visit there.
- 600 people will work in Enterprise Square -- 300 from the university and 300 employed by additional tenants.
- Financial contributors include:
- $49 million - University of Alberta
- $15 million - Government of Canada
- $15 million - Government of Alberta
- $7.5 million - City of Edmonton
- Estimated cost of the project is $86.5 million.
- Total building area is 430,000 square feet, including the 4th floor addition. The original building is 360,000 square feet.
- The Art Gallery of Alberta will moved in during March 2007. The rest of the tenants are scheduled to move in through the fall. CHUM-TV has been an ongoing tenant throughout the renovation and will remain.
- The exterior of the lower two levels will remain unchanged due to the historical designation of the fa?ade and six entrances.
- 56,000 square feet of the basement has been converted to a 100-stall parking area.
- Address is 10230 Jasper Avenue, Edmonton, AB T5J 4P6