Summary

• The Switch is 95% leased.
• The residential tower adds hundreds of new residents to downtown Edmonton.
• The Switch advances the long-term vision for Station Lands as a mixed-use district.

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Edmonton, AB – Qualico Properties has reached a significant milestone at The Switch, with the downtown Edmonton residential tower now 95% leased, effectively marking the project as fully leased. The achievement underscores both the demand for downtown living and the long-term confidence behind the Station Lands vision.

Reaching the 95% threshold is an important financial and operational benchmark. At this level, Qualico Properties is able to secure permanent financing on the project under more favourable terms, while also outperforming Edmonton’s average downtown vacancy rate. In practical terms, the building is considered fully leased, accounting for typical resident turnover.

“This milestone is a critical piece of the financial puzzle for The Switch,” said Jeff Sutherland, Vice-President, National Leasing and Sales, Qualico Properties. “It allows us to move into permanent financing, and it shows that demand is there, even in a location that some people questioned early on.”

Delivering on a bold downtown vision

The Switch was conceived as a catalyst for bringing new energy and momentum to downtown Edmonton. With more than 270 homes now occupied, the building is adding hundreds of residents to the area, increasing street-level activity and contributing to a stronger sense of vibrancy and safety. It is also a proof of concept for future phases of residential development. It proves that Station Lands is considered a desirable location to live by the market.

“What stands out to me is how consistently people chose to move here,” said Elijah Stauth, Marketing Manager, Qualico Properties. “There were ups and downs along the way, but getting to 95% leased shows what’s possible when a team takes a vision, puts it into the world, and sees it through, even when there’s skepticism at the start.”

Residential density plays a critical role in the long-term success of a downtown, supporting amenities, retail, and public life. While one building alone cannot transform a neighbourhood overnight, The Switch represents an important step toward sustained momentum at Station Lands.

A first-of-its-kind effort for Qualico Properties

For Qualico Properties, The Switch also marked its first experience leasing a residential project of this scale from the ground up. The approach relied heavily on the company’s vertically integrated model, combining internal expertise with targeted third-party support to manage leasing, marketing, construction, and operations in parallel.

“This was our first attempt at leasing a project like this at scale, in a part of downtown that’s in transition,” said Mike Saunders, Senior Vice-President, Qualico Properties. “What I’m most proud of is how the team came together, made the right decisions, and delivered a result that other developers are now looking to replicate.”

That collaboration extended across development, construction, property management, marketing, leasing, asset management, and external partners. Frequent coordination and shared accountability were essential, particularly as leasing progressed while construction was still underway.

The Switch also plays a key role in the evolution of Station Lands into a true mixed-use district, complementing EPCOR Tower with residential density and paving the way for future retail and additional development phases. Together with nearby amenities like Roundhouse Park and Edmonton’s cultural institutions, the project clearly supports Qualico’s purpose of building better cities.