Oxford Properties Group

Oxford Properties Group

July 04, 2011 10:06 ET

Oxford Announces 35-Storey Downtown Vancouver Office Tower Development

1021 West Hastings: A Vision Statement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 4, 2011) -

Editors Note: There is a photo associated with this press release.

Oxford Properties Group today announced a new vision statement for Vancouver: the development of a 35-storey, 270,000 square foot office tower at 1021 West Hastings, the site of the historic University and Quadra Clubs. Designed by world renowned architects Kohn Pedersen Fox (KPF), 1021 West Hastings will provide a striking crest that frames The Marine Building to the east and the Guinness Tower to the west. At ground level, 1021 West Hastings will retain the historic club façade, while a modern new entrance and landscaped public space will build a bridge between the new and the old.

"1021 West Hastings is a symbol of Oxford's commitment to Vancouver, its businesses and its people," said Blake Hutcheson, President and CEO, Oxford Properties. "This building will be iconic in its design, while setting new standards in efficiency, sustainability and tenant amenities. In our view, it is a statement about what work life can and should become in the 21st century!"

1021 West Hastings will complement Oxford's harbourfront portfolio, comprised of Guinness Tower, The Marine Building and Oceanic Plaza, all of which are virtually 100% leased today.

"Oxford is very excited to present 1021 and the response from the business community has been outstanding," said Chuck We, Director, Leasing, Oxford Properties. "We worked with our architects KPF to design a building specifically for the needs of the Vancouver market, and are excited about bringing a world class project to this dynamic market."

1021 will embody the values of sustainability while delivering measurable savings and tremendous improvements in comfort: It will be the first office tower with a VRF HVAC system, will have energy saving triple-paned glazing, and is targeted LEED Gold Core and Shell. The building is readily accessible by bike lanes, SkyTrain, West Coast Express and bus services, as well as by Helijet and seaplane. Within walking distance are a growing number of high quality dining, socializing and health experiences in an area anchored by the Vancouver Convention Centre—including the Fairmont Pacific Rim, Vancouver Club, and Terminal City Club. As part of the 1021 West Hastings building itself, there will be a new restaurant and fitness facility, as well as a host of other premium amenities.

"Oxford Properties sought to build a sustainable and commercially viable development that enhances the neighboring assets," said Paul Katz, President, KPF. "The building is therefore designed to respond to and improve both the human-scaled, urban experience and the spectacular climatic and geographic context. We also believe that increasing the density of the urban core will enhance Vancouver's deserved reputation as one of the most sustainable and habitable cities in the world."

1021 West Hastings will begin construction in Q3 2011 and is scheduled for practical completion in the summer of 2014 under the direction of lead contractor Ledcor.

The development of 1021 West Hastings is a joint venture between Oxford, who will oversee all aspects of the development and management of the property, and co-investor CPPIB.

About Oxford

Celebrating our 50th anniversary in 2010, Oxford Properties Group is one of North America's largest commercial real estate investment, development and management firms. Oxford oversees and manages approximately $17 billion of real estate, including assets belonging to co-owners and investment partners. Oxford's investments include office, retail, hotel, industrial and multifamily residential properties. Oxford is the real estate arm of the OMERS Worldwide Group of Companies.

To view the photo associated with this release, please visit the following link:

http://www.marketwire.com/library/20110704-Vancouver800.jpg.

Contact Information

  • Oxford Properties Group
    Claire Kennedy
    (416) 350-4734