The Paramount Block on Jasper Avenue that has sat desolate for years has been procured by Edmonton family business Gather Co. Real estate development company Gather Co., which has stewarded the Mercer Warehouse for more than 15 years, has a reputation for preserving historic buildings while repurposing 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,” said a statement from Gather Co. Thursday morning. The block, also home to the Paramount Theatre, was listed for receivership sale earlier this year. Opening in 1952, the Paramount was once the largest movie theatre in the prairies with 1,750 seats. It closed in 2003 under the operation of Famous Players and operated as a church from 2006 to 2014. The city has the Paramount Theatre on its historic resource inventory which identifies buildings of potential heritage interest, but it doesn’t have the historic designation that would protect it from demolition. “Bringing a property of this significance back to life 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,” said Gather Co. The Paramount Block also includes properties at 10233, 10275 and 10279 Jasper Avenue which housed a former location of Remedy Cafe and one of the city’s oldest restaurants, most recently known as The Hat.
