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Whiskey Tango Foxtrot
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Manulife's Calgary Office Tower, 707 Fifth Street, Announced



Posted: 07/30/2013 7:58 pm EDT | Updated: 07/30/2013 8:02 pm EDT

Manulife Real Estate announced the development of a brand new office tower in Calgary's downtown core on Tuesday.

The 27-storey, 564,000 square foot tower is called 707 Fifth Street and will host Brion Energy as a tenant.

The building is expected to be completed by March 2017 and is designed by architects Skidmore, Owings and Merrill.

"Manulife has a long-standing presence in the Calgary real estate market dating back to the early 1960's," said Kevin Adolphe, President and CEO, Manulife Real Estate in a statement.

"We look forward to carrying on that proud tradition with 707 Fifth Street, which will become a best-in-class office tower in Calgary."

The building, which will be LEED Gold Certified, will have an elliptical form with floor-to-ceiling glass, a fitness centre, a landscape winter garden and a conference facility.

"Delivering a world-class development such as 707 Fifth supports our forward-thinking investment strategy in Calgary," said Ted Willcocks, Global Head of Asset Management at Manulife Real Estate.

Manulife currently owns eight real estate properties in Calgary and 707 Fifth Street will bring its portfolio in the city to approximately 1.3 million square feet.
Work has begun, including the demolition of an existing building at the site.


Manulife by RemotelyBoris, on Flickr






Manulife Proposal by Render Central, on Flickr
 

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CALGARY | 707 Fifth | 124m | 27 fl | Prep

Manulife already has an anchor tenant for this one and plans to go ahead with tower which will be 27 floors, and 564,000 sq ft..

Architect - SOM
Developer - Manulife

Manulife going ahead with two office tower developments in Western Canada

Manulife Financial Corp.’s massive real estate arm is expanding in Western Canada – and increasingly choosing to develop towers rather than buy them.

The insurance company, whose real estate portfolio amounted to more than $8.5-billion at the end of 2012, is set to announce next week that it will develop a 27-storey office tower in downtown Calgary, bringing its portfolio in the city to about 1.3 million square feet.

The lead tenant will be Brion Energy (previously called Dover Operating Corp.), a three-year-old Calgary-based joint venture between Athabasca Oil Corp. and PetroChina Company Ltd. that operates two leases in the oil sands near Fort McMurray.

“We want to make a greater allocation to Western Canada. We strongly believe in the fundamentals there and we think that the eastern markets are very crowded right now,” said Ted Wilcocks, global head of asset management at Manulife Real Estate.

Manulife announced this week that it has begun construction on 980 Howe St., a 16-storey Vancouver tower that many thought would not go ahead, given the city’s building boom. But Manulife managed to secure engineering and consulting firm BGC as a lead tenant.

The Calgary tower, which will be 564,00 square feet, will sit on land that Manulife already owns, and replace a 41-year-old 88,000-square foot office building (as well as a former restaurant and retail site and a parkade)...


http://www.theglobeandmail.com/repo...velopments-in-western-canada/article13466688/

Manulife by Calgary Renders, on Flickr


Manulife Proposal by Render Central, on Flickr


Manulife Proposal by Calgary Renders, on Flickr



Manulife by Render Central, on Flickr
 
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