Officially declared a Canadian Historic site in 2002, Stephen Avenue Walk is a pedestrian street between the hours of 6am-6pm. While the rest of Calgary represents a profusion of skyscrapers, this street represents a time when Calgary just began. Restored, historic, two storey, sandstone buildings line the street. The original businesses are long gone, but visitors can enjoy a variety of independent shops, including a bookstore, flower shop, galleries, two repertoire cinemas and several restaurants and pubs. Of particular note is the column-fronted Hudson Bay Company. Visitors are often curious about ten, 70-85 feet high metal sculptures. While the accuracy of their representation may be arguable, these are call the "Trees". They are particularly impression at night when they come with a light show.

When the climate is right, buskers are found along the Walk, offering up magic tricks or music. Even when temperatures are frigid, thousands of office workers ascend on the street for their lunch hour, as many as 60,000 in the summer. The summer also features many street vendors purveying everything from portrait sketches to Peruvian jewelery.

Stephen Avenue Walk is located amidst downtown on Eighth Avenue SW from First Street SE to Fourth Street SW. The Walk is named after Lord George Mount Stephen, who was the first president of the Canadian Pacific Railway.