Cadillac Fairview, IMCO to construct $617m office tower in Toronto

WCN Editorial Team 14 Jun 2018 NORTH AMERICA BUILDINGS

Canada-based Cadillac Fairview (CF) and Investment Management Corporation of Ontario (IMCO) will construct a CAD800m ($617m) 46-storey office tower at 160 Front Street West in downtown Toronto, Canada.

The building, to be constructed on the northeast corner of Front Street and Simcoe Street, will feature 1.2 million ft² of office space, 339 parking stalls and 12,290ft² of retail space and is scheduled to open in 2022.

Cadillac Fairview president and CEO John Sullivan said: “This city continues to experience record-low vacancy rates, fuelled by demand for quality, sustainable office space across a broad array of clients, and in particular the tech and financial sectors.

“With space availability in downtown Toronto at the lowest level in over 25 years, we see tremendous opportunity for this development.”

CF’s parent company, Ontario Teachers’ Pension Plan, will be the inaugural client and will relocate its head office from North York to the new building.

Ontario Teachers’ Pension Plan president and CEO Ron Mock said: “This new building will have many attractive elements to help foster teamwork and innovation, in a healthy and sustainable environment that is close to many different transit options.

“We are very pleased to be moving into a building run by Cadillac Fairview, our real estate subsidiary and a global developer of leading-edge office space.”

The building, designed by Adrian Smith + Gordon Gill Architecture in collaboration with B+H Architects, will feature smart building technology and is designed to achieve LEED Platinum and WELL Building Standard certifications.

After completion, the building will be subject to the standards of CF’s sustainability programme, Green at Work.

The site is located one city block from Union Station with easy access to the Gardiner Expressway. Amenities such as retail, food, restaurant and hotels are also located nearby.

CF and IMCO are executing various projects for Ontario Pension Board (OPB), which include a new office tower at 16 York Street in Toronto, and ownership in several existing office properties in Toronto and Vancouver, including RBC Centre and Toronto-Dominion Centre.

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