This was just forwarded to me:
Brookfield Properties Achieves Substantial Completion on Bay Adelaide Centre West in Toronto
TORONTO--(BUSINESS WIRE)--Jul. 1, 2009-- Brookfield Properties Corporation (BPO: NYSE, TSX) and its Canadian-based subsidiary, BPO Properties Ltd. (BPP: TSX) today announced that Bay Adelaide Centre West – a new, 51-storey, 1.2-million-square-foot office tower in the heart of downtown Toronto’s financial core – has been certified substantially complete. The building is 73% pre-leased to major firms such as KPMG, Heenan Blaikie, Goodmans and Fasken Martineau DuMoulin. Most of these tenants have already commenced work on their new premises.
“We are proud to be the first landlord in 17 years to deliver to the Toronto market a modern, architecturally advanced office building that will provide our tenants with an environmentally friendly and technologically efficient workplace,†said Tom Farley, President & CEO of Canadian Commercial Operations for Brookfield Properties.
Bay Adelaide West, built to achieve the LEED Gold standard (Leadership in Energy and Environmental Design), was designed by WZMH Partners. The 11-storey historic façade of the former National Building has been integrated into the design, rebuilt and restored to its 1926 grandeur. Toronto’s PATH system, 27 kilometers of public walkway and retail located one level below grade, will be completed in September with the connection through Bay Adelaide Centre into Scotia Plaza to the south and to The Bay department store to the north.
Bay Adelaide Centre West is the first significant office development project completed in the city’s financial core since 1992. Bay Adelaide Centre West is the first phase of a 2.6-million-square-foot project; phases two and three of the complex will likely be a mix of office and residential.
“Bay Adelaide Centre represents a major achievement within our development portfolio,†said Ric Clark, Chief Executive Officer of Brookfield Properties. “It is the fifth office building in our North American portfolio to be delivered in the past twelve months, it marks the successful completion of our final active development, and it came in ahead of schedule and underbudget.â€