The million-square foot, $750 million project will see almost the entire block of prime downtown real estate bounded by Georgia, Robson, Seymour and Richards rebuilt into one of the most technologically and environmentally-advanced sites of commerce, employment and living in the world. It will create half a million square feet of much-needed new office space available for multiple tenants and 500 new residential units, all setting new standards for environmental sustainability. The 22-storey signature office tower will be the first building in Canada built to the new 2009 Leadership in Energy and Environmental Design (LEED) Platinum standard and the 44-storey residential tower will be built to the LEED Gold standard. The development will build upon TELUS’ best practices from our new homes in central Canada including the LEED Gold certified TELUS House Ottawa, the LEED Gold built TELUS House Toronto and the LEED Silver built Place TELUS Quebec City.
"TELUS Garden will exemplify the TELUS brand and be a truly amazing destination for our team members, the community and the city," said Darren Entwistle, TELUS president and CEO. "Our vision is that TELUS Garden will be a beautiful and unique location where leading-edge technology, urban living, environmental sustainability and tomorrow’s work styles are elegantly integrated into a vibrant community. This development, which will inject millions of dollars into our economy, will highlight TELUS’ advanced communications technologies and environmental innovation in a way never before seen. TELUS Garden will be a breathtaking place to live and work, an architectural icon that will consume 30 per cent less energy thanks to its responsible, leading-edge design. It will be a celebrated urban oasis that is literally alive with plant life and showcases our great province’s arts and culture."
The landmark development reinforces TELUS’ commitment to the City of Vancouver, and will make a significant contribution to the city’s goal of becoming the greenest city in the world. Once complete, TELUS’ new headquarters will be unique in North America, featuring 10,000 square feet of green roofs providing organic produce for local restaurants, two elevated roof forests, British Columbia artwork, LED lighting on the western façade projecting programmable coloured images on to fritted glass, and media walls where cultural events such as symphony concerts can be broadcast to the public.
The project’s construction will pump hundreds of millions of dollars into the local economy and create three million person-hours of employment during construction, scheduled to begin this fall and be complete in 2015. Once complete, the development will open up new residential, retail and commercial space animating the lower end of Robson Street and create a vibrant link to the cultural and sports centres of the city. Once occupied, the site’s business and residential tenants will contribute an estimated $8 - $10 million in new tax revenue to the city annually.
"The fact that TELUS is choosing to build a new national headquarters in Vancouver is a great vote of confidence in our local economy," said Vancouver Mayor Gregor Robertson. "Their proposal to build to LEED Platinum is extremely ambitious and sends a signal that in Vancouver, going green is good for business and the environment. I’m very excited that they are investing in Vancouver - we’ve worked hard to build a competitive climate for business, and when companies like TELUS choose to expand their presence it is great for creating new jobs and economic spin-offs in our city."
TELUS has partnered with Westbank to lead the project, and has engaged Henriquez Partners as the architect that is designing the iconic development. TELUS will fund its share of the development predominantly through leveraging its existing real estate holdings in this block, coupled with the sale and lease of space in the new buildings. The investment is consistent with TELUS’ overall capital expenditure target for 2011 and longer term capital intensity goals. TELUS has just entered into an agreement to purchase the city-owned parkade at the corner of Georgia and Richards, consolidating the entire block, other than the Kingston Hotel, to create a unified development. [March 10, 2011]
Send this IT news to a friend