TORONTO, ONTARIO--(Marketwired - June 12, 2013) -
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Oxford Properties Group announced today the development of Ernst & Young Tower: a 900,000 square foot, 40 storey, class AAA, LEED Platinum new office tower in downtown Toronto. Ernst & Young, a global leader in assurance, tax, transaction and advisory services, will be the lead tenant. TMX Group, whose key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy, will also be a major tenant in the building. The development is slated for completion in June 2017, and is currently 45% pre-leased.
Ernst & Young Tower will be located at 100 Adelaide Street West, between Bay and York Streets. Designed by world renowned architects Kohn Pederson Fox and assisted locally by WZMH Architects, the development is located in the heart of the city's core and will be connected to the PATH system. It will form part of Oxford's full block Richmond Adelaide Centre mixed use complex.
"Oxford creates exceptional workplaces for high-performing organizations," said Blake Hutcheson, President and CEO, Oxford Properties. "Working closely with Ernst & Young and TMX Group, we are helping to create today's state of the art knowledge workplace at 100 Adelaide West. This LEED Platinum building is another example of Oxford's leading sustainability program and of our world class development program in Canada, the US and the UK. We are excited to work with both Ernst & Young and TMX Group, and to be building what will be one of our city's most enduring office towers."
The building will incorporate modern workplace designs as well as smart technology and productivity tools to help bring out the best in its occupants. The latest techniques in construction and design will be used to ensure a high-quality, energy and cost efficient environment and will include multiple outdoor spaces, including a 5,000 square foot terrace on the 6th floor.
"This new LEED platinum building represents a true workplace of the future, and Ernst & Young is very proud to be at the heart of it," said Eric Rawlinson, Ernst & Young, Managing Partner, Greater Toronto Area. "Having the right workplace is a strategic business tool that empowers us to make a difference for our people, our clients, and our wider community. From the sustainable construction to the leading-edge design, we're looking forward to watching the project come to life and become a new Toronto landmark."
"As we have grown and diversified our organization, our efforts to integrate our acquisitions and optimize synergies have made clear the importance of a work space that fosters innovation and teamwork," said Michael Vivaldi, TMX Group, Vice President, Finance & Administration. "We are excited about the LEED Platinum building at 100 Adelaide Street West, which will provide a state-of-the-art, sustainable workplace in close proximity to key local clients and readily accessible to transit options for employees."
Ernst & Young Tower will feature 28,000 square foot floorplates on the five storey podium and a 23,500 square foot typical floorplate, and is designed to enable collaborative workspaces. At the ground level, the building will retain the historic "Concourse Building" façade including the mosaics designed by Group of Seven artist J.E.H. MacDonald, while a modern new entrance and public space will serve to bridge the old with the new. The building will feature stunning floor-to-ceiling windows and 9'6" ceiling heights that will showcase 360 degree views of Toronto's downtown city sights, including Lake Ontario to the south and Nathan Phillips Square on the north side of the building.
The highest principles of sustainability will be embodied in the LEED Platinum property, including high performance building envelope and mechanical systems, on-demand fresh air, daylight and motion sensors, state-of-the-art lighting controls, bicycle storage, change rooms, showers and electric car parking. The leases at the building represent Oxford's first official use of a "Green Lease", which incorporates commitments on how the building is to be occupied, operated and managed in a sustainable way. The Green lease ensures that the building and its occupants are committed long term to the highest standards of sustainability.
Ernst & Young Tower will be a part of the 2.4 million square foot Richmond-Adelaide Centre. The complex has undergone significant renovations since 2010, including lobby and concourse renovations, new public plazas and the comprehensive redevelopment of 111 Richmond West. Tenants at the Richmond-Adelaide Centre include TD Bank, Google, MNP, Aimia, Lenczner Slaght Royce Smith Griffin LLP, Beard Winter LLP and Lerners LLP.
Oxford Properties Group is a global platform for real estate investment, development and management, with over 1,400 employees and over $21 billion of real assets that it manages for itself and on behalf of its co-owners and investment partners. Established in 1960, Oxford has regional offices in Toronto, London and New York, and the company's portfolio includes approximately 50 million square feet of office, retail, industrial, multi-family and hotel properties. The City of Toronto is Oxford's largest investment market with approximately $9 billion in assets under management. Oxford's Toronto portfolio includes such world class assets as TD Canada Trust Tower, Royal Bank Plaza, Citibank Place, Richmond-Adelaide Centre, MetroCentre, Yorkdale Shopping Centre and Scarborough Town Centre. Oxford has several significant commercial developments currently underway around the world, including RBC WaterPark Place (Toronto), Hudson Yards (New York), The Leadenhall Building (London) and MNP Tower (Vancouver), in addition to 100 Adelaide Street West (Toronto). Oxford is the real estate arm of the OMERS Worldwide Group of Companies. For more information about Oxford visit: www.oxfordproperties.com.
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