Property joins select club of highest standards of energy-efficiency in Canada
CALGARY, April 19, 2013 /PRNewswire/ - Ivanhoé Cambridge, Alberta Investment Management Corporation and Matco Investments, co-owners of Eighth Avenue Place in Calgary, Alberta, are proud to announce that Eighth Avenue Place has been awarded LEED® Platinum Core and Shell certification under the U.S. Green Building Council's LEED rating system. The Core and Shell designation covers base building elements such as its structure, envelope and air distribution systems.
Obtaining LEED® Platinum certification for AAA commercial office space is a significant achievement. This distinction is a result of the owners' efforts to raise the bar with regards to sustainability and energy resource management while offering their tenants the best office space on the market.
"When we were looking at signing an office lease and securing the best environment for our employees, it was clear that sustainability was a factor in our decision-making," said Kevin Neveu, President and CEO, Precision Drilling Corporation "Not only is Eighth Avenue Place the most prestigious business address in Calgary, it shares Precision Drilling Corporation's commitment to sustainable development."
A sustainable building
Eighth Avenue Place's sustainable design features and programs include:
- Installation of a state-of-the-art building management and control system to monitor and manage energy consumption and tenant comfort requests
- Reliance on outside air (at certain temperatures) to cool the building
- 40% reduction in water use through features such as ultra-low-flow urinals and low-flow water closets
- Provision of enclosed 300-stall bicycle parking with adjacent showers
- Over 75% landfill diversion of construction waste including that from the demolition of the previous buildings
- Use of low-emitting paints, adhesives and sealants
- Use of environmentally sensitive refrigerants
- Canada's largest green roof encompassing more than 2,700 m2 (30,000 ft2)
Eighth Avenue Place is a 49-storey tower, a two-storey retail podium spanning a full city block and featuring a dramatic atrium winter garden, a 1,143-car, below-grade parking garage. Construction began in December 2007 and was completed in the summer of 2011. Construction on Phase II West Tower began in March 2012 and will be a 78,000 m2 (840,000 ft2), 40-storey office tower. It is scheduled for completion in summer 2014 and is fully pre-leased. Hines is the development manager.
For more information: eighthavenueplace.com.
About Ivanhoé Cambridge
Ivanhoé Cambridge is a world-class real estate company that leverages its high-level expertise in all aspects of real estate including investment, development, asset management, leasing and operations, to deliver an optimal return for its investors. Through its multiple subsidiaries, its assets in more than 20 countries are valued at over Cdn$35 billion as at December 31, 2012. Ivanhoé Cambridge is a real estate subsidiary of the Caisse de dépôt et placement du Québec (lacaisse.com), one of Canada's leading institutional fund managers. For more information, visit ivanhoecambridge.com.
About Alberta Investment Management Corporation (AIMCo)
AIMCo is one of Canada's largest and most diversified institutional investment managers. AIMCo was established on January 1, 2008 with a mandate to provide superior long-term investment results for its clients. AIMCo operates independently from the Government of Alberta and invests globally on behalf of 28 pension, endowment and government funds in the Province of Alberta, including the Alberta Heritage Savings Trust Fund. For more information about AIMCo, visit www.aimco.alberta.ca.
Matco Investments Ltd. is a private investment firm with interests in oil and gas and real estate. Matco's real estate interests are primarily development projects of significance located in and around Calgary, Alberta. Matco and associated entities have direct involvement in the energy industry and Matco's focus on real estate investment is in markets where the energy industry is an important market factor.
SOURCE Ivanhoé Cambridge
Image with caption: "Eighth Avenue Place, Calgary, Alberta, certified LEED Platinum. (CNW Group/Ivanhoé Cambridge)". Image available at: http://photos.newswire.ca/images/download/20130419_C6818_PHOTO_EN_25767.jpg