New Office Tower Announced in Edmonton Alberta

Message from the Developer of the Office Tower:

I wanted to share with you an announcement the City is making today about the consolidation of approximately 2100 employees working downtown into a new office tower. The tower will be located on the southwest corner of 101 Street and 104th Avenue on the site that is currently the Staples store and is expected to be available for move in late in the summer of 2016. As you may be aware, we have been reviewing our space needs for several years and looked at a number of options including maintaining the status quo, leasing, and building our own building. We determined the best option was to lease a larger floor plate that allowed us to consolidate a large percentage of our staff. The time for this decision is now as we have three major leases -- HSBC, CN Tower and Scotia Place expiring on or before March 31, 2015. As well, it would require a significant investment from the City to extend the life of Chancery Hall. Consolidation will allow us to realize significant cost savings in the long term, maximize efficiencies, reduce office space needs by as much as 25 percent due to a more efficient floor plate and reduce the time staff spend walking from one building to another for meetings. The new office tower will also contribute to the revitalization of the heart of our city and continue to increase the vibrancy of our downtown as outlined in the Capital City Downtown Plan. It is exciting to provide new office space for our valued employees. We will keep you informed as progress on the new space moves ahead. Thank you Simon Farbrother