Brookfield Property Partners L.P. today announced its plans to commence development of the third and final office tower of Bay Adelaide Centre in downtown Toronto, with construction set to begin in the spring of 2019. Scotiabank has signed a commitment to lease 420,000 square feet ? approximately 51% of the building ? for 15 years as the anchor tenant of Bay Adelaide Centre North, designed by KPMB Architects in collaboration with Adamson Associates Architects.
?We are pleased to commence development of the North and final tower at Bay Adelaide Centre with highly respected financial institution, Scotiabank, as the lead tenant,? said Jan Sucharda, Global President and COO, Office Division, for Brookfield Property Partners. ?The North tower will complete the three-million-square-foot Bay Adelaide Centre campus, which over the last decade has established itself as one of the preeminent business addresses in Toronto?s financial core.? Bay Adelaide Centre North, located on the north side of Temperance Street across from the existing East and West towers, will be a 32-storey, 820,000-square-foot office building with best-in-class operational, environmental and life-safety systems. Scotiabank will have a dedicated reception area, and exclusive access to an outdoor podium terrace. The tower will overlook Arnell Plaza to the south, a half-acre open space, as well as Cloud Gardens Park to the east.
The building will have direct access to subways and the amenities of the PATH undergrou...