Earlier this month, The company is calling the new commercial space Capitol VI, in honour of the theatre that has been on the site since the early 1980s.
The ground floor will include retail space and a pedestrian-friendly urban plaza, according to the developer. Last year the company applied for rezoning and development permits to include retail and commercial space on the first three floors, and office space on the upper floors, as well as three levels of underground parking.
In total, the 10-storey building would contain a gross area of 169,988 square feet, according to Jawl, and would have room for approximately 600 workers in its office spaces and 144 parking stalls in its underground parkade. While it's unclear when the redevelopment will get underway, the theatre still has about a year left on its lease at the site.