The multimillion-dollar renovations Brookfield Properties and ARCI are undertaking at Calgary’s downtown Suncor Energy Centre office towers have paid off with a major new tenant. The firms have announced ATB Financial will occupy 173,000 square feet of space in the campus upon completion of construction in 2027.

The move will consolidate ATB’s multiple Calgary locations into the new office, which will also result in positive net absorption of space in the city’s downtown.

"Our decision to establish a single, prominent corporate presence in Suncor Energy Centre demonstrates ATB's long-term commitment to downtown Calgary,” Krista Lauridsen, ATB’s vice-president, head of real estate, facilities, design and construction, said in the announcement which was shared with RENX. “We view this as a strategic investment in a premier location that aligns us with the city's future growth and positions our brand for maximum visibility in the evolving professional core. 

“We look forward to partnering with Brookfield Properties and ARCI on this next chapter."

While Calgary's office leasing market has struggled with high vacancy, high-quality space has been steadily absorbed in recent months, resulting in both a bifurcated market, and some optimism thanks to corporate return-to-office mandates leading to increasing leasing activity.

According to Colliers' Q3 2025 report, downtown vacancy for all classes was 27.5 per cent, while class-AA vacancy was 18.4 per cent. All other classes in the downtown were above 30 per cent.

The Suncor Energy Centre

Suncor Energy Centre features 1.7 million square feet of premier office space across two 32- and 52-storey towers, plus commercial and retail spaces. It is in the transit-rich downtown and is connected to the city’s Plus-15 above-ground walkway system which links numerous major properties and destinations in the core.

The Centre is LEED EM:OB Gold certified, BOMA 360 designated, and WELL Health-Safety rated.

“ATB’s dedication to Calgary and to the revitalization of its downtown core aligns with the vision of Brookfield Properties and ARCI,” Michael Rix, Brookfield’s vice-president of western Canada, office in the same announcement. “Our investment in Suncor Energy Centre to create a vibrant, community-centric campus is attracting leading firms like ATB that want to provide employees with an elevated workplace experience in the heart of our city. 

“ATB will be an excellent addition to our office complex, and we look forward to welcoming them.”

$90 million in renovations

Brookfield Properties and ARCI are investing over $90 million to redevelop its office complex into a mixed-used destination. Announced in December, 2024, the renovations had been planned for several years as part of the owners' commitment to Suncor when it renewed its most recent lease as anchor tenant.

They are being completed in phases over a three-year period and include the addition of a performing arts amphitheatre, licensed food hall and restaurants, exterior dining terrace and a mix of public and private amenities. 

The campus will offer a range of features to support local arts and creative groups, including performances, educational talks and ongoing showcases. Tenant-exclusive amenities will include a hospitality lounge, fitness centre, conference facility, end-of-trip facility, and micromobility hub.

Family-owned ARCI Investments identified Calgary as an emerging economic centre in the 1970s, strategically assembled an entire downtown block and later partnered with Petro-Canada to develop the Suncor Energy Centre.

Completed in 1984, the twin granite towers remain among the most recognizable landmarks on the city’s skyline.

About Brookfield, ARCI and ATB

Brookfield Properties is a global real estate developer and operator active in nearly all sectors including office, retail, multifamily, hospitality and logistics.

The firm and its entities operate more than 1,100 properties and over 390 million square feet of real estate in global gateway markets on behalf of Brookfield Asset Management, one of the largest asset managers in the world.

ARCI Investments (Arenberg Canadian Investment Ltd.) is part of the broader network of Arenberg family enterprises, rooted in the centuries-old European House of Arenberg.

Over generations, the family has transformed its landholdings and cultural assets into a structure of foundations and investment companies. Today, ARCI oversees over $2 billion in industrial, office and multifamily assets across Canada and the U.S.

ATB Financial is an Alberta-based financial institution with over $100 billion in assets and assets under management. The company has over 5,000 team members servicing 843,000 clients across its personal and business banking segments, ATB Wealth Management, and ATB Capital Markets businesses.