In 2012, the inside and outside of the building were scanned for historical preservation, and to assist in the design of the National Music Centre.

[2] In May 2008, the National Music Centre was selected through a competitive process to work with Calgary Municipal Land Corporation on the King Eddy rejuvenation project.

In October 2013, crews started the tedious task of taking the century-old hotel apart brick-by-brick.

The bricks were wrapped and stored on pallets inside a shipping container to preserve them while crews worked to reassemble the structure.

The CA$168,000,000 (equivalent to $205,551,402 in 2023) National Music Centre, including the rebuilt King Edward Hotel building, opened in 2016.