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The plan includes the relocation of Union Financial Corporation’s headquarters to the upper floors, and the opening of Roca by Sabor, a new fine dining establishment on the main floor.
Published Feb 23, 2025 • Last updated 4 hours ago • 3 minute read
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The historic Union Bank building in downtown Edmonton is undergoing renovations, with completed exterior finishes paving the way for new business headquarters and a high-end restaurant. Photo by Supplied photo /Union Financial CorporationArticle content
The historic 1910 Union Bank building in Downtown Edmonton is set to regain its status as a cornerstone of the city’s financial and dining landscape.
Following the completion of exterior renovations, the building’s transformation is now well underway, with plans to introduce new business headquarters and high-end restaurant, Roca by Sabor, to the area.
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Purchased in 2023 by Edmonton lawyer and businessman David Hawreluk, the pre-First World War landmark at 10053 Jasper Avenue is being restored with a vision of attracting more businesses, visitors, and economic activity to the Downtown core. The plan includes the relocation of Union Financial Corporation’s headquarters to the upper floors, and the opening of Roca by Sabor, a new fine dining establishment on the main floor.
Hawreluk said the project is an investment in the revitalization of Downtown Edmonton.
The three-story rectangular building features a brick and limestone facade. Built in 1910 during the city’s economic bloom, it is the last remaining pre-World War One bank building of seven built before the war, highlighting a historically significant role in Edmonton’s banking and investment sector for over 69 years.
“This project is about more than preserving and restoring a historic gem in Edmonton,” he said in a news release. “It’s about contributing to revitalizing Downtown Edmonton by bringing new life to the building and new energy to the area.
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“We are also very excited to move our financial businesses in and can’t wait to show our clients from around the city, and the globe, what Edmonton has to offer.”
Union Financial Corporation, which includes Union Lending Corporation, Union Wealth Management Corporation, and Union Insurance Brokerage Corporation, is set to move into the two upper floors of the newly restored space in early 2026. The move is described as to return “the renowned building to its historic roots as a financial institution.”
Roca by Sabor
A key feature of the Union Bank building’s renewal is the launching of Roca by Sabor, a new fine dining restaurant from the acclaimed Sabor Group. Known for its internationally sourced ingredients and hospitality, Sabor, 10220 103 St., is expanding its presence in Edmonton with Roca, set to open in spring 2026.
The restaurant will occupy the main floor and private basement dining rooms, offering a costal-inspired menu.
“Bringing Roca by Sabor to the Union Bank building is an incredible opportunity to create something truly one-of-a-kind, showcasing the brand of hospitality we’ve become known for. The combination of a stunning historic space and a fresh new dining experience is something we know Edmontonians — and visitors — will love,” said Christian Mena, owner of Sabor Group, in the news release.
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The investment into the Union Bank building has been met with enthusiasm, including that from Puneeta McBryan, CEO of the Edmonton Downtown Business Association.
“Restoring historic spaces while introducing new economic activity strengthens the core and makes it a more vibrant and dynamic place to work, dine, and visit. It’s also so exciting to see another new concept from our friends at Sabor, which is a testament to our downtown as an always-evolving culinary destination in Alberta,” she said in the release.
Kim Petrin, deputy city manager, urban planning & economy with the City of Edmonton, added that the Union Bank revitalization “is a perfect blend of our rich history and the dynamic future of our Downtown community.”
cnguyen@postmedia.com
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