Fortis Properties Corporation

Fortis Properties Corporation

October 12, 2006 09:00 ET

Fortis Properties: Blue Cross Centre Celebrates Expansion Opening

MONCTON, NEW BRUNSWICK--(CCNMatthews - Oct. 12, 2006) - Today, the 57,000 square foot expansion of the Blue Cross Centre was officially opened. Owned and operated by Fortis Properties Corporation, the $7.2 million expansion of the landmark building in downtown Moncton began in July 2005, and was completed a year later. Today's celebration marked the official opening of the building with the business community.

"We are extremely proud of the investment we have made in downtown Moncton," said Earl Ludlow, President and Chief Executive Officer of Fortis Properties. "As the largest office building, with over 320,000 square feet, we are a landmark in the downtown core and are pleased to add to the area's appeal."

"We decided to expand as a result of a number of factors; Moncton is a vibrant and growing city, we have excellent relationships with our tenants and our existing building was fully leased," said Ludlow. "Running high occupancies with strong tenants is a great business story to have, however, a company also needs to be able to grow with its customers."

Ludlow, in partnership with Natural Resources Canada, was also pleased to announce the expansion was recognized under the Government of Canada's Commercial Building Incentive Program (CBIP), with Fortis Properties receiving a $60,000 incentive for its energy-efficient design.

"Canada's New Government applauds companies like Fortis Properties for demonstrating leadership in efficiency and environmental protection," said the Honourable Gary Lunn, Minister of Natural Resources. "Designing and constructing energy-efficient buildings is an innovative way of conserving energy and costs at the same time." CBIP encourages the energy efficient design of new commercial and institutional buildings to bring about lasting changes in design and construction practices. The building is designed to be 29.9 per cent more efficient than the Model National Energy Code for Buildings (MNECB) when compared to similar reference buildings.

Today's event also placed a spotlight on the local arts community with Fortis Properties featuring an art display of local artist and art gallery owner, Georges Goguen. Goguen has an environmentally-friendly approach to his art, using recycled materials in his creations. The Company emphasized its continuing commitment to investing in the community by purchasing a piece of art for permanent display in the new expansion. "Mr. Goguen's environmentally-friendly approach was a good fit with our energy-efficient building," said Ludlow.

The Blue Cross Centre is one of 19 commercial properties owned and operated by Fortis Properties. The Company owns 2.7 million square feet in commercial real estate throughout Atlantic Canada, and has holdings in hotels and hydroelectric generation. A wholly owned subsidiary of Fortis Inc. (TSX:FTS), Fortis Properties has operations throughout Canada and the United States.

For more information on Fortis Properties, please visit

www.fortisproperties.com

For more information on the Commercial Building Incentive Program (CBIP), please visit

http://oee.nrcan.gc.ca/commercial/newbuildings.cfm

Contact Information

  • Fortis Properties Corporation
    Gail Tucker
    Corporate Communications Manager
    709-737-2927
    709-685-0798 (cell)
    or
    Natural Resources Canada, Ottawa
    Office of the Minister
    Director of Communications
    613-996-2007