Professional Engineers Ontario

Professional Engineers Ontario

March 12, 2009 11:05 ET

New PEO Headquarters to Enhance Operations, Showcase the Profession

Attention: Assignment Editor, City Editor, News Editor, Photo Editor, Government/Political Affairs Editor TORONTO, ONTARIO--(Marketwire - March 12, 2009) - Professional Engineers Ontario (PEO) has purchased an office building along the Yonge Street subway corridor in Toronto to increase the profile of the profession and ensure it continues to provide a high level of service and accessibility to its stakeholders, including licence holders, applicants, volunteers, staff and the public.

The facility at 40 Sheppard Avenue West has a floor plate of approximately 14,000 square feet and over 100,000 square feet of usable space spread over eight storeys. PEO leases just over 30,000 square feet spread over one and a half floors of a 21-storey tower at its current location. It plans to occupy approximately 50,000 square feet of the new location.

"Current economic conditions allowed us to pursue this exciting opportunity, which will enhance our operations and profile without significant financial burden," said PEO President J. David Adams, P.Eng. "Our vision is to have an engineering centre befitting a major profession. The new location provides us with potential space for an examination hall, lecture theatres, an engineering museum, and centrally-located meeting facilities for members and their clients."

As the owner of the building, PEO qualifies for reduced municipal taxes under the Municipal Act, on the proportion of the building it uses. In also receives rental income from tenants. The net rent and operating costs are less than the current location, resulting in nearly double the space for the same cost.

The lease on PEO's current premises at 25 Sheppard Avenue West expires at the end of 2009. It is expected PEO will move to its new building in stages, with the move substantially complete by the end of the year.

To help finance the expenditure, PEO members confirmed a bylaw amendment that raised the annual professional engineer licence fee by $20, effective May 1, 2008. These funds will be used to pay the mortgage.

Additional details on the purchase are available on PEO's website at: www.peo.on.ca.

Professional Engineers Ontario administers the Professional Engineers Act by licensing Ontario's 70,000 professional engineers, granting temporary, limited and provisional licences to practise professional engineering, and authorizing businesses to provide engineering services to the public. It sets standards for and regulates engineering in Ontario so that the public interest is served and protected. Rigorously educated, experienced, and committed to a Code of Ethics that puts the public first, licensed professional engineers can be identified by the P.Eng. after their names.
/For further information: David Smith, Manager, Communications
Tel: 416-840-1068; 800-339-3716, ext.1068
Email: dsmith@peo.on.ca
/ IN: POLITICS

Contact Information

  • David Smith, Manager, Communications, Professional Engineers Ontario
    Primary Phone: 416-840-1068
    Toll-Free: 800-339-3716
    E-mail: dsmith@peo.on.ca