Telus plans major addition to Toronto's skyline
Last Updated: Monday, July 10, 2006 | 1:59 PM ET
CBC News
Telus Corp. plans to build a $250-million high-tech communications centre in Toronto, the first major office tower to be built in the downtown core since the early 1990s.
"Telus is putting down deeper roots in Ontario," said Joseph Natale, president of Telus's business solutions division. "It is an important growth market for us and our decision to invest in a new building in the heart of downtown Toronto demonstrates our long-term commitment to Toronto and the province."
The 30-storey tower will be built next to the Air Canada Centre, near the Toronto waterfront. Telus will be the lead tenant, taking up about 60 per cent of the total rentable area.
The new tower will be "the most advanced technology-equipped facility in Canada, allowing us to showcase our leadership in innovation in a signature building that will become part of Toronto's cityscape," the company said.
Construction is set to begin in the fall, with an expected occupancy date of Jan. 1, 2009.
The project is being developed by Menkes Developments Ltd., a diversified Toronto builder.
Peter Menkes, president of Menkes's commercial division, said the company was going ahead with the first major tower in a decade because "demand for high-quality office space in the Greater Toronto Area is growing. Our decision to move forward on this project reflects our belief that downtown Toronto is a dynamic place to do business for Canadian companies, whether they are operating locally, nationally or on a global basis."
The Maritime Life Tower, built in downtown Toronto several years ago, is not considered a major tower.
Telus, based in Vancouver, expanded into Ontario in 2000 with the $6.6-billion purchase of Clearnet Communications. It now employs more than 5,200 workers in the province.
