Manulife Launches New SOM-Designed Office Project in Downtown Calgary
- Aug 02, 2013
Calgary, Canada—Manulife Real Estate has announced the development of 707 Fifth Street, an elliptical 27-story office tower slated to rise in the heart of downtown Calgary.
Designed by world-renowned architects Skidmore, Owings and Merrill, the 564,000-square-foot, “AAA,” LEED Gold Certified high-rise is expected to be complete by March 2017. The local office of Pivotal Projects is managing the project.
“Manulife has a long-standing presence in the Calgary real estate market dating back to the early 1960s,” Kevin Adolphe, president and CEO of Manulife Real Estate, says. “We look forward to carrying on that proud tradition with 707 Fifth Street, which will become a best-in-class office tower in Calgary.”
Through floor-to-ceiling glass, the new icon on Calgary’s skyline will offer stunning views of the city and the Rocky Mountains. Amenities will include a fitness center, on site conference facility and a landscaped winter garden.
Brion Energy, previously Dover Operating Corp., will be the property’s anchor tenant. The company operates two leases in the bitumen-rich oil sands near Fort McMurray in Alberta.
“Brion Energy is excited to have a long-term solution to our office space requirements and a place to call ‘home,'” adds Brion President and Chief Executive Officer Zhiming Li. “As a growing company, we have been challenged to find a large block of vacant office space in Calgary’s core that meets our needs. Manulife’s other properties are impressive and Brion can’t wait to be in what we know will be a beautiful facility in the heart of Calgary.”
Manulife Real Estate is the global real estate arm of Manulife Financial Corporation. The company’s portfolio consists of prime office and industrial properties, as well as select retail and multifamily residential assets located in key metropolitan centers throughout Canada, Asia and the United States.
In Calgary, Manulife currently owns and manages eight properties. With the construction of 707 Fifth Street, the company’s portfolio in the city will reach 1.3 million square feet.
980 Howe Street, a 16-story, 250,000-square-foot office building currently under construction in downtown Vancouver is also among Manulife’s recently announced projects. Designed by CEI Architecture and Endall Elliot Associates, the new LEED Gold Certified project is slated for completion in the spring of 2015. International engineering consulting firm BGC will be the property’s anchor tenant. Manulife’s other properties in Vancouver include 1095 West Pender and 510 Burrard Street.