Paramount block on Edmonton’s Jasper Avenue gets new buyer
Posted July 30, 2026 11:50 am.
An iconic block on Edmonton’s Jasper Avenue could be getting a new lease on life.
The Paramount block, which includes the Paramount Theatre, has been purchased by the Gather Co., a commercial real estate agency in Edmonton.
The building went up for sale earlier this year after the developers who bought it in 2018 went into receivership.
In a news release, the Gather Co. says it intends to bring the property “back to life,” citing its “longstanding reputation for its commitment to heritage preservation, adaptive reuse and creating spaces that contribute to the communities around them.”
“The Paramount Block is an important part of Downtown Edmonton’s history, and the group is excited about the opportunity to explore its next chapter.”
The company owns several commercial properties across Edmonton, such as the Mercer Warehouse, the Stovel Block and the Dazmo Building.
The Gather Co. says the project “will require collaboration with community, support and partnership from the City of Edmonton and other orders of government, and new tenants eager to be a part of something positive for downtown Edmonton.”
The Paramount Theatre, which opened in 1952 and closed in 2007, is not an official municipal historic building.
The city councillor for the area, Anne Stevenson, told CityNews earlier this year she hoped new buyers could breathe life into the long-shuttered building.
The Gather Co. says it will share more about its vision for the building, and next steps, in the “coming months.”
