Green Features, Sustainability Top Priorities at 2.6 Million Square Foot
Project in Toronto CBD
TORONTO, October 2 /CNW/ - Brookfield Properties Corporation (BPO: NYSE,
TSX) and its Canadian-based subsidiary, BPO Properties Ltd. (BPP: TSX), today
announced that the 2.6 million square foot Bay Adelaide Centre development in
Toronto's financial core will be built to a Leadership in Energy and
Environmental Design (LEED) Gold standard, as specified by the Canada Green
Building Council (CaGBC). The LEED Green Building Rating System is the
internationally accepted scorecard for sustainable sites, water efficiency,
energy and atmosphere, materials and resources, and indoor environmental
In achieving a LEED Gold standard, the entire Bay Adelaide Centre complex
will produce an estimated 40% energy savings relative to other buildings built
to the Canadian Model National Energy Code, and will feature state-of-the-art
operating and life safety systems, including:
-- Lighting occupancy sensors;
-- Enhanced indoor air quality;
-- Low emitting materials;
-- Optimization of energy performance;
-- Indoor water use reduction features;
-- Rain water collection system;
-- Bicycle storage and changing rooms.
"With this project, Brookfield Properties is helping lead the way for
high-performing, socially-conscious developments that will benefit our
tenants, employees, communities and the environment," said Ric Clark,
President & CEO of Brookfield Properties Corporation. "Brookfield is committed
to environmental sustainability in all of our new developments."
"Our goal is to provide office space of the highest quality for our
tenants while reducing their operating costs which is why we've made energy
efficiency a top priority," said Tom Farley, President and COO, Canadian
Commercial Operations for Brookfield Properties. "Our hope is that this
project will serve as a model for 21st century commercial development."
Construction on the development commenced in July 2006, and KPMG and
Goodmans LLP have signed on as anchor tenants for the project's first phase -
Bay Adelaide Centre West Tower - which is scheduled for completion in July
2009. Comprising approximately 1.1 million square feet, the 50-storey tower is
the first new development in Toronto's financial core since Brookfield Place
was completed in 1992. Phases Two and Three of Bay Adelaide Centre will likely
be a mix of office and hotel/residential.
Brookfield Properties Corporation, one of North America's largest
commercial real estate companies, owns, develops and manages premier office
properties. The portfolio is comprised of interests in 111 office properties
totaling 75 million square feet in the downtown cores of New York, Boston,
Washington, D.C., Los Angeles, Houston, Toronto, Calgary and Ottawa. Landmark
assets include the World Financial Center in Manhattan, Brookfield Place in
Toronto, Bank of America Plaza in Los Angeles and Bankers Hall in Calgary.
Brookfield Properties also holds interests in over 15 million square feet of
high-quality, centrally located development properties in its major markets.
Brookfield Properties trades on the NYSE and TSX under the symbol BPO. For
more information, visit www.brookfieldproperties.com.
BPO Properties Ltd., 89% owned by Brookfield Properties Corporation, is a
Canadian company that invests in real estate, focusing on the ownership and
value enhancement of premier office properties. The current property portfolio
is comprised of interests in 29 commercial properties totaling 19.5 million
square feet and five development projects totaling 5.6 million square feet.
Landmark properties include First Canadian Place in Toronto and Bankers Hall
in Calgary. BPO Properties' common shares trade on the TSX under the symbol
BPP. For more information, visit www.bpoproperties.com.
This press release contains forward-looking statements and information
within the meaning of applicable securities legislation. Although Brookfield
Properties believes that the anticipated future results, performance or
achievements expressed or implied by the forward-looking statements and
information are based upon reasonable assumptions and expectations, the reader
should not place undue reliance on forward-looking statements and information
because they involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of the company
to differ materially from anticipated future results, performance or
achievement expressed or implied by such forward-looking statements and
information. Factors that could cause actual results to differ materially from
those set forth in the forward-looking statements and information include
general economic conditions; local real estate conditions, including the
development of properties in close proximity to the company's properties;
timely leasing of newly-developed properties and re-leasing of occupied square
footage upon expiration; dependence on tenants' financial condition; the
uncertainties of real estate development and acquisition activity; the ability
to effectively integrate acquisitions; interest rates; availability of equity
and debt financing; the impact of newly-adopted accounting principles on the
company's accounting policies and on period-to-period comparisons of financial
results; and other risks and factors described from time to time in the
documents filed by the company with the securities regulators in Canada and
the United States including in the Annual Information Form under the heading
"Business of Brookfield Properties - Company and Real Estate Industry Risks."
The company undertakes no obligation to publicly update or revise any
forward-looking statements or information, whether as a result of new
information, future events or otherwise.
For further information:
For further information: Brookfield Properties Corporation Melissa
Coley, 212-417-7215 Vice President, Investor Relations and Communications