MNP Tower | 143M | 36Fl | Completed

[Hourglass]

just pre-market Vancouver's Turn to Mainland Chinese investors and voila!

[trofirhen]

Hey ... there's an idea!

[LeftCoaster]

Originally Posted by s211

I've heard more than one Oxford staffer say that says spec is a real possibility.

Wow, well I'm still highly sceptical but if it's from the horses mouth perhaps they know something I dont.

Either way I see this project moving ahead very shortly.

[jlousa]

From what I've been hearing work could start as soon as Sept. I'm not convinced it will, but there is definitely talk and I'm sure we will see this one start before most if not all of the office projects. Interesting the city has removed the development application plans for this project, which is an usual step.

Please keep talk about Vancouver's Turn in it's own thread, so we can keep this thread on track, thanks

[s211]

Originally Posted by Hourglass

just pre-market Vancouver's Turn to Mainland Chinese investors and voila!

You mean like how projects like 888 Beach, 1500 Alberni and Palais Georgia were?

[phesto]

Originally Posted by s211

I've heard more than one Oxford staffer say that says spec is a real possibility.

This is what I've heard as well, but I think with each passing day it becomes less likely.

The biggest advantage is that they can build it before any of the competing projects (including Telus which will have some competitive space for lease despite an inferior location), so the longer things drag on, the more likely they will be competing for tenants with other projects including potentially Bentall 6.

Although Oxford is currently one of the most aggressive pension fund managers in terms of office construction right now, they are not like a private developer and have to undertake extensive analysis and internal approval before they can build on spec. From what I've heard they need rents above $40.00 per sq ft for the project to be viable.

[s211]

Originally Posted by phesto

This is what I've heard as well, but I think with each passing day it becomes less likely.

The biggest advantage is that they can build it before any of the competing projects (including Telus which will have some competitive space for lease despite an inferior location), so the longer things drag on, the more likely they will be competing for tenants with other projects including potentially Bentall 6.

Although Oxford is currently one of the most aggressive pension fund managers in terms of office construction right now, they are not like a private developer and have to undertake extensive analysis and internal approval before they can build on spec. From what I've heard they need rents above $40.00 per sq ft for the project to be viable.

Yup. Small plate is expensive.

[jlousa]

Article in today's Globe and Mail, seems to agree to what I'm hearing about a start later this year.

The Oxford tower will be built with a focus on sustainability, with energy-saving glass panels and a special heating and ventilation system popular in Japan but not widely adopted in North America a called ventilated refrigerant flow system, which doesn’t use ducts and allows for separate climate controls for different parts of a building.

Construction will begin this year, and is scheduled to finish in the summer of 2014.

Other developers considering building include Bentall Kennedy, which has proposed a 365,000 square foot building for 743 Thurlow Street. It hopes to begin construction in 2012, and finish work by early 2015.

http://www.theglobeandmail.com/repor...rticle2085635/

[Built Form]

Oxford Announces 35-Storey Downtown Vancouver Office Tower Development

1021 West Hastings: A Vision Statement

Jul 4, 2011 9:06:00 AM
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 4, 2011) -

Editors Note: There is a photo associated with this press release.

Oxford Properties Group today announced a new vision statement for Vancouver: the development of a 35-storey, 270,000 square foot office tower at 1021 West Hastings, the site of the historic University and Quadra Clubs. Designed by world renowned architects Kohn Pedersen Fox (KPF), 1021 West Hastings will provide a striking crest that frames The Marine Building to the east and the Guinness Tower to the west. At ground level, 1021 West Hastings will retain the historic club facade, while a modern new entrance and landscaped public space will build a bridge between the new and the old.

"1021 West Hastings is a symbol of Oxford's commitment to Vancouver, its businesses and its people," said Blake Hutcheson, President and CEO, Oxford Properties. "This building will be iconic in its design, while setting new standards in efficiency, sustainability and tenant amenities. In our view, it is a statement about what work life can and should become in the 21st century!"

1021 West Hastings will complement Oxford's harbourfront portfolio, comprised of Guinness Tower, The Marine Building and Oceanic Plaza, all of which are virtually 100% leased today.

"Oxford is very excited to present 1021 and the response from the business community has been outstanding," said Chuck We, Director, Leasing, Oxford Properties. "We worked with our architects KPF to design a building specifically for the needs of the Vancouver market, and are excited about bringing a world class project to this dynamic market."

1021 will embody the values of sustainability while delivering measurable savings and tremendous improvements in comfort: It will be the first office tower with a VRF HVAC system, will have energy saving triple-paned glazing, and is targeted LEED Gold Core and Shell. The building is readily accessible by bike lanes, SkyTrain, West Coast Express and bus services, as well as by Helijet and seaplane. Within walking distance are a growing number of high quality dining, socializing and health experiences in an area anchored by the Vancouver Convention Centre-including the Fairmont Pacific Rim, Vancouver Club, and Terminal City Club. As part of the 1021 West Hastings building itself, there will be a new restaurant and fitness facility, as well as a host of other premium amenities.

"Oxford Properties sought to build a sustainable and commercially viable development that enhances the neighboring assets," said Paul Katz, President, KPF. "The building is therefore designed to respond to and improve both the human-scaled, urban experience and the spectacular climatic and geographic context. We also believe that increasing the density of the urban core will enhance Vancouver's deserved reputation as one of the most sustainable and habitable cities in the world."

1021 West Hastings will begin construction in Q3 2011 and is scheduled for practical completion in the summer of 2014 under the direction of lead contractor Ledcor.

The development of 1021 West Hastings is a joint venture between Oxford, who will oversee all aspects of the development and management of the property, and co-investor CPPIB.

http://www.alphatrade.com/news/stori...710074001.html

[Built Form]

http://www.alphatrade.com/news/stori...710074001.html

[Mike K.]

Is the status of this tower still proposed, or can we call it approved?

If construction starts as early as hoped Oxford might beat Bentall to the punch. Bentall's tower is expected to complete in 2015, one year after 1021 W H.

[Hed Kandi]

..

[LeftCoaster]

Looks like some of my sources still know what they are talking about, good to see. Either that or The Globe is doing its researching on SSP...

Originally Posted by Mike K.

Is the status of this tower still proposed, or can we call it approved?

If construction starts as early as hoped Oxford might beat Bentall to the punch. Bentall's tower is expected to complete in 2015, one year after 1021 W H.

Oxford will amost certainly beat Bentall to the punch, I'm not even sure Bentall will move ahead with their tower in 2012.

[s211]

Originally Posted by LeftCoaster

Looks like some of my sources still know what they are talking about, good to see. Either that or The Globe is doing its researching on SSP...

Oxford will amost certainly beat Bentall to the punch, I'm not even sure Bentall will move ahead with their tower in 2012.

Colleague has confirmed with Oxford. Spec's a go.

Don't rule Bentall out yet....

[Mininari]

Originally Posted by s211

Colleague has confirmed with Oxford. Spec's a go.

Don't rule Bentall out yet....

I'm guessing that Spec for a tower thats situated on the waterfront and can offer stunning views will beat out the Bentall stub which really can't compete, with the exception of offering larger floorplates.

If this does start soon, it will be a fun tower to watch go up, and will take our minds off of the unfortunate "twist" that delayed Vancouver's second tallest from rising...

[Coldrsx]

Nighttime render, streets look like Terrazzo... @ murman.

[officedweller]

Great news!

Agreed that this will be the nicest in recent years.

[Canadian Mind]

Wish it was taller, but amazing news none the less.

[Dylan Leblanc]

The article says KPF is the architect. Is Musson Cattell Mackey Partnership out completely?

[jlousa]

Someone else here is probably better suited to answer that question, but I would imagine that MCM will remain the local architects on the job. It's not unusual to use a foreign architect firm and have them partner with a local firm.