Brookfield Properties announced today that a new 44-storey office tower will join its neighbour Bay Adelaide Centre West in the heart of Toronto's financial district, and Deloitte has signed on as its anchor tenant. Bay Adelaide Centre East will contain approximately 980,000 square feet of space, 420,000 square feet or 43% of which will be leased by Deloitte.
Bay Adelaide East, which is designed by architects KPMB and Adamson Associates, is the second phase of Brookfield's plan for Bay Adelaide Centre, which according to their site will include a third phase to the north for a building of approximately 500,000 square feet. In keeping with Brookfield's environmental sustainability objectives, all Bay-Adelaide Centre buildings will be built to LEED Gold certification standards.
Construction of Bay Adelaide East is slated to finish by late 2015 or early 2016. Jan Sucharda, CEO of Brookfield's Canadian commercial operations, cited low vacancy in Toronto's financial district office properties as an indicator for the willingness of the market to accommodate this new project. Bay Adelaide West, which was designed by WZMH Architects and opened in 2009, is currently 95% leased. The new building's 2015/16 completion date corresponds with the expiry of some important office leases in the financial core.
For more information on Bay Adelaide Centre East, visit its page on the UrbanToronto Forums here. Additional more detailed renderings of the Bay Adelaide Centre can be found in the UrbanToronto dataBase here.