With this week's release of the Q3 commercial vacancy report showing a drop to 5.1%, it's a good time to check in on one of downtown's newest office developments RBC WaterPark Place III. The project is amongst a few existing and developing projects in the burgeoning south core area south of Union Station. With major tenants like PWC and Telus moving their headquarters south of the traditional financial core, the area seems ripe to expand and grow much further. The RBC building is the third phase of WaterPark Place and when completed will include an above-ground PATH pedestrian bridge that will connect the entire complex with Union Station, Canada's largest transit hub currently undergoing its own massive expansion.
What will eventually be a 30-storey office building has so far reached ground level and is expected to rise over the next two years to its final height of 460 feet and to an expected LEED gold certification. The Oxford Properties building Designed by WZMH Architects plans to add 330,000 square feet of office space in hopes of capturing some of the waves of business being drawn into the downtown core.
In one of the greatest benefits of the condo boom, business now sees it as a necessity to locate in the city's core close to where much of the workforce now lives. We look forward to seeing this neighbourhood grow and will bring you more as construction progresses. Below is a rendering of the final product.
Want to learn more about this project? Check out our datbase listing below or join the discussion in the Forum.