The Cadillac Fairview Corporation Limited

The Cadillac Fairview Corporation Limited

April 04, 2012 08:00 ET

Cadillac Fairview Announces Phase 1 of Its Calgary City Centre Development Site

CALGARY, ALBERTA--(Marketwire - April 4, 2012) -

ATTN: Photo desk, assignment, business, architecture, and real estate editors -

The Cadillac Fairview Corporation Limited is pleased to announce the commencement of construction of Calgary City Centre Phase 1, which comprises a 36-storey, LEED® Gold Core and Shell, Premium AA office tower, totaling 853,032 square feet with a retail podium, and five levels of underground parking with 632 stalls. The building will be complete for the first tenant occupancy by March 2016.

The Phase 1 office tower is part of a larger mixed-use development which incorporates office, retail, a 5-star hotel and luxury condominium residences. Calgary City Centre covers a full city block of 3.2 acres, located at 2nd Street SW and 3rd Avenue SW.

"Calgary City Centre reinforces Cadillac Fairview's strategy of expanding our core property assets, office and retail, in key urban markets. Through Calgary City Centre and our recently expanded Chinook Centre we are committed to, and investing in the long-term future of Calgary," says John Sullivan, President and CEO, Cadillac Fairview.

"Calgary City Centre is about city building," says Wayne Barwise, Executive Vice President, Development, Cadillac Fairview. "We are transforming a significant business precinct of the city by connecting four city blocks with three Plus 15 bridges. Our mixed-use development will create a vibrant and active streetscape with office, retail, residential, dining and hotel facilities. Additionally, the office building will expand our portfolio and provide state-of-the-art premises for the growth of many of our corporate clients."

Phase 1 highlights:

  • Located immediately adjacent to the Bow River parkway system and connected to the heart of the city's business community, the second floor of the office tower will be connected to the Plus 15 walkway system via three bridge connections across 2nd (to Livingston Place) and 3rd Streets SW (to Devon Tower) and 3rd Avenue SW (to Jamieson).
  • An expansive two-storey office lobby will run along 2nd Street SW with a landscaped courtyard extending from the lobby to 3rd Street.
  • The typical floor plate size is 26,782 square feet, providing for efficient office areas and the potential for eight corner offices per floor.
  • Five levels of underground parking with 632 stalls will be available, including bicycle lockers and showers located at grade and on level P1.

The office tower has been designed by Zeidler BKDI Architects and the prime contractor is PCL Constructors, Inc. Construction is scheduled to begin in May. Pre-leasing for the office tower is underway; tenant names and building design features will be made available upon opening of our Marketing Suite this later Spring.

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 $20 billion, Cadillac Fairview and its affiliates own and manage nearly 48 million square feet of leasable space at 85 properties across North America, including some of Canada's landmark developments, such as Toronto-Dominion Centre, Toronto Eaton Centre, Pacific Centre, Chinook Centre, and Market Mall.

Cadillac Fairview is wholly-owned by the Ontario Teachers' Pension Plan, which invests to secure the retirement income of 300,000 active and retired teachers in Ontario.

To view the photo associated with this release, please visit the following link: http://media3.marketwire.com/docs/calgarycitycentre.jpg.

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