Cadillac Fairview Breaks Ground on New 1.6 Million-Square-Foot Green Mixed-Use Development in Canada
- Sep 20, 2012
Calgary, Alberta—The Cadillac Fairview Corporation Limited recently broke ground on the Calgary City Centre, a green mixed-use development covering a full city block of 3.2 acres in Calgary, Alberta.
The company has already announced the signing of a lease agreement with Inter Pipeline for 140,000 square feet of office space. Wayne Barwise, executive vice president for development at Cadillac Fairview said: “We are delighted that Inter Pipeline has chosen Calgary City Centre as its base of operations. This reaffirms our belief that Calgary City Centre will become a pre-eminent address for the energy sector in Western Canada.”
Located at 2nd Street SW and 3rd Avenue SW, the Calgary City Centre is a 1,620,740-square-foot mixed-use development, which will be built in two phases. The first phase of the complex features an 853,032-square-foot premium AA office tower with a retail podium, as well as a five-level underground parking with 632 stalls. Designed by Zeidler BKDI Architects and with PCL Constructors Inc. as the prime contractor, the 36-story office tower will be built to LEED Platinum Core and Shell Certification, becoming the first major commercial office tower in Western Canada to be built to that level of certification. The high-rise will feature 31 office floors ranging up to 27,700 square feet. The building, which will feature state-of-the-art technology and efficiencies, is expected to be ready for the first tenant occupancy by March 2016.
Phase two of the project calls for the development of a retail podium, dining facilities, residences and a five-star hotel. The Residences at Calgary City Centre will feature a collection of luxury condominiums ranging in size from 700 square feet up to 5,000 square feet. The residents will be able to enjoy stunning park and river views and will have exclusive access to hotel and spa amenities.
The Calgary City Centre project will integrate four city blocks with three indoor pedestrian bridges (dubbed as Plus-15), which will connect the development to Livingston Place, Jamieson Place and Devon Tower.
With a portfolio valued at over $20 billion, Cadillac Fairview is one of North America’s largest investors, owners and managers of commercial real estate. The company and its affiliates own and manage close to 47 million square feet of leasable space at 83 properties across North America. Cadillac Fairview is wholly owned by the Ontario Teachers’ Pension Plan.