The Cadillac Fairview Corporation Limited

The Cadillac Fairview Corporation Limited

May 17, 2010 08:00 ET

Cadillac Fairview Announces $110 Million Investment in Toronto-Dominion Centre's 77 King West

TORONTO, ONTARIO--(Marketwire - May 17, 2010) -

Attention: Business, Real Estate and Environmental Editors

Editors Note: There is a photo associated with this Press Release.

The Cadillac Fairview Corporation Limited is proud to announce the launch of its 77 King Street West revitalization, to further enhance one of its flagship office and retail properties in Toronto, originally built in 1969.

The 46-storey tower is part of the company's $110 million investment in the Toronto-Dominion (TD) Centre complex, consisting of five iconic black towers in the heart of the financial district, and one of Toronto's most prestigious downtown business addresses. The building stands as symbol of Canadian business excellence, making it both a corporate and cultural landmark, in addition to being a provincial heritage site. The building envelope is famous for its bronze-coloured curtain wall within a matte-black painted steel frame, featuring floor to ceiling windows, design features that were a generation ahead of its time, offering tenants incomparable views, and access to natural light.

The first stages of this multi-year revitalization project will enhance the property and tenant comfort while at the same time maintaining the integrity and style of the original building designed by world-renowned architect Ludwig Mies van der Rohe. The TD Centre was downtown Toronto's first major office development and to this day, remains the largest office complex in Canada, home to many of the country's premier businesses, and foreign multinationals, in addition to being the global head quarters of TD Bank Financial Group. 

"I am really excited about this initiative, as it enhances the timeless modern design that is the Toronto Dominion Centre" said Steven Sorensen, Vice President, Property Management for Cadillac Fairview. He adds, "We are looking to make the building even more exciting and inviting for some of Canada's elite to conduct their business."

Cadillac Fairview also continues to take a leadership role in adopting progressive environmental standards and practices, and certainly the revitalization of 77 King West will be no exception. The project is part of the company's national GREEN AT WORK™ strategy, which sets operation benchmarks for energy consumption, reducing waste, and improving environmental protection.

A major aspect of the project that demonstrates this commitment is the replacement of all 5,676 windows, beginning with the removal of single glass window panes, and replacing them with thermal double panes and a new innovative roller shade system. The new windows and shades will enhance energy efficiency by keeping the building better insulated and will be tinted bronze to ensure consistency with the original architectural design. Given the architectural and historical significance of the property, the revitalization will ensure the careful restoration and replacement of existing finishes and materials to remain true to Mies Van der Rohe's original vision.

This latest investment in TD Centre is consistent with the property's pursuit of LEED (Leadership in Energy and Environmental Design) Gold Certification for Existing Buildings, which it expects to achieve early this summer. Established by the U.S. Green Building Council, and administered in Canada through the Canada Green Building Council, LEED is North America's preeminent program for the design, construction and operation of high performance green buildings. 

About Cadillac Fairview

The Cadillac Fairview Corporation Limited is one of North America's largest investors, owners and managers of commercial real estate. For more than 50 years Cadillac Fairview has been leading the way in commercial real estate with innovative design, development and management.

Cadillac Fairview focuses on developing and managing high quality office properties and regional shopping centres in Canada and the United States, as well as international investments in real estate companies and investment funds. With a portfolio valued at more than $17 billion and nearly 50 million square feet of leasable space, Cadillac Fairview and its affiliates own and manage 83 properties across North America, including some of Canada's landmark developments, such as Toronto-Dominion Centre, Toronto Eaton Centre, Pacific Centre and Chinook Centre.

Cadillac Fairview is wholly-owned by the Ontario Teachers' Pension Plan, which invests to secure the retirement income of 289,000 active and retired teachers in Ontario. For more information, please visit us at www.cadillacfairview.com.

To view the photo associated with this press release, please visit the following link: http://www.marketwire.com/library/20100514-td800.jpg

Contact Information

Multimedia