The Skyline eyesore in west Edmonton is about to disappear.

The derelict construction site once known as the Glenora Skyline condo project is finally getting back on track, under new ownership and a new name.

InHouse — a branch of Beaverbrook Developments — has the green light to move ahead with its redevelopment plans for the abandoned site.

In a unanimous decision, Monday, city council approved rezoning of the site.

"A sigh of relief," Salima Kheraj, a principal with InHouse, said in an interview Wednesday on Edmonton AM. "It's a big milestone for us to be able to turn this project around."

The project, at Stony Plain Road and 142nd Street, has undergone a significant redesign.

The 3½-acre site is about to become home to West Block, three residential towers alongside a mix of town homes and commercial and retail space.

Construction of the first phase of the project, projected to cost over $50 million and due to begin in October, will turn the existing concrete structure into a luxury 16-storey tower with floor-to-ceiling windows, large terraces and views of the river valley.

The phase will also include a three-storey commercial building.

The base of each of the buildings will includes retail space centred on an urban square designed with landscaping and seating areas for passersby or patios.

Image | Glenora Skyline

Caption: The Glenora Skyline development site at the corner of Stony Plain Road and 142nd Street has been largely untouched since work was stopped in January 2014. (Google)

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Kheraj says the neighbourhood deserves something iconic after construction was abandoned two years ago.

"The look is very different, but the use is very much the same," said Kheraj.

"You'll see a lot more glass and sleek towers. I think the new design is really something the community will be proud of."

InHouse stepped in to salvage the project after the previous owners ran into money problems and work on the three towers initially planned for the property came to an abrupt stop in January 2014.

The site went into foreclosure and remained untouched for months before InHouse took full possession in the spring of 2015 after a lengthy court process.

Developers expect to complete the project by the end of 2018.

"It's slated for redevelopment for a long time. I think the community will appreciate that we can finally make that happen, and give this concrete structure its new skin and turn this around."