Concept art for the Manulife Place renovation. (Source: ManulifePlace.com)

Construction will begin later this year on a major update to Manulife Place.

Manulife Investment Management announced on Tuesday that the tower would be getting a $30 million facelift.

Renovations will include an update to the building’s façade, moving retail storefronts to different parts of the building, and a 45,000 square foot rooftop terrace.

The announcement came three days after former Manulife Place tenant Holt Renfrew closed its Edmonton store permanently.