Around the world, our landmark development projects create enduring economic and social value. From single properties to city-defining mixed-use districts, we reimagine places with a focus on people.
Our development activity in Vancouver illustrates this perfectly.
Vancouver is fiercely protective of its skyline and heritage; it has one of the most disciplined planning regimes in North America. Against this backdrop, our development activity will see our commercial portfolio double.
The 275,000 square foot MNP Tower was our first ground-up development in the market and was the final tower in our four-building Oxford Place complex. We launched the project speculatively and, when we opened the doors in 2015, MNP Tower was nearly 100% leased. The building immediately outperformed underwriting and substantially increased the value of the entire complex. It also won NAIOP’s coveted top office development award. Coupled with our operating platform, it remains one of Vancouver’s most coveted addresses.
Three years later, we broke ground on The Stack, a 540,000 square foot office development - the tallest office development in Vancouver and the first Zero Carbon high-rise tower in Canada. Oxford is also building the second. The building is future-proofed from the inside out. It has world-leading in-building technology and seamless integration of indoor and outdoor spaces.
And we have recently completed 402 Dunsmuir Street - a nine-storey, 150,000 square foot office building fully leased to Amazon, featuring loft-like design, operable windows and an enhanced public plaza.