In 1927, John Herbert and Arthur Clifford Price, having inherited the prosperous
Price Brothers Limited after the 1924 death of their father, Sir
William Price III, decided to build a new headquarters for the company in Quebec City. They did not find anything to their liking on Saint-Pierre street, at the time Quebec's main financial district, so they decided on Saint-Anne street close to the
City Hall. The design for the initially 16–floor building was awarded to
Ross and Macdonald, a prestigious firm of architects based in
Montreal. The city, eager to demonstrate a progressive ethos, gave assent to the project despite heavy criticism that the administration was proving unable to protect Québec′s historic area, as the building was slated to replace two historic houses. Sources conflict as to exactly when construction started: one cites June 1929 to May 1930; while another states the construction permit was delivered in December 1929 and construction began in June 1930; and a third gives only years: 1928–1930. The building's
cornerstone bears an inscription which reads "This stone was laid Oct. XXIX MCMXXIX [October 29, 1929]". However, all sources agree that construction was rapid, and the building was finished within a year. It was inaugurated in 1931. Although completed successfully, the building turned out to be little more than an extravagant nail in Price Brothers' coffin. The
Great Depression pushed the company to the brink of bankruptcy, and the Price Family lost both control of the company and most of its fortune. Various restoration work was undertaken during the 1950s and '60s, mostly to the interior of the building. In 1983, it was acquired by the city of Quebec, which largely used it for its
civil engineering division, echoing a similar situation in
New York City, where the
Manhattan Municipal Building's offices are extensions of those at
New York City Hall. Soon afterwards, a longterm lease placed the Price Building under the management of the Société immobilière Trans-Québec (SITQ, now
Ivanhoé Cambridge), the real estate arm of the
Caisse de dépôt et placement du Québec (CDP). Further extensive renovation began that lasted until 2005, and included the addition of two extra floors on the inside, a terrace on the 16th floor and the installation of elevators. In 2001, the 16th and 17th floors became the
Premier of Quebec′s official residence. Between 1997 and 2002, a high-end
psychiatric clinic occupied floors 2 and 3 of the building. The administration has strongly affirmed the timing of this move with the Premier′s installation to be a complete coincidence. On 12 July 2009,
tightrope walker Ramon Kelvink Jr. walked from the 13th floor of the building to the
Château Frontenac′s 15th floor as part of the celebrations of the
400th anniversary of Quebec City. The construction of the Édifice Price was heavily criticized in the 1920s, both because it showed disrespect for Price Sr.′s intention of relocating the Price Brothers company′s operations to its original business centre of Kénogami (now
Jonquière), and because the monumental construction was perceived as out of proportion in a mixed commercial and residential area where few buildings exceeded four or five floors. Criticism continued after the construction, and a few years later the city council passed a by-law limiting building heights in the old town to — a size only exceeded by one other building at the time: the then seven-floor
Hôtel-Dieu de Québec. Nowadays, however, the building is considered an architectural monument in the capital and a defining element of the city's skyline. When the proposal of the
Phare de Québec major skyscraper project in the
Sainte-Foy area began attracting criticism, parallels with the major controversies that surrounded Édifice Price′s construction were drawn. == Architecture ==