Mr. Dean Connor reports
SUN LIFE FINANCIAL TO RELOCATE CORPORATE HEADQUARTERS TO ONE YORK STREET
Sun Life Financial Inc. will consolidate employees currently
located in two downtown Toronto offices into a new corporate
headquarters at One York St. in the dynamic south-core financial
district. Sun Life Financial is scheduled to relocate to the new
building in 2017.
The building is being developed by Menkes Developments Ltd. and
Healthcare of Ontario Pension Plan. HOOPP will also be a tenant
of this leading-edge office development.
"This building was carefully chosen and best fits the multifaceted
needs of our business. It will also give us the opportunity to design a
space that fosters the collaborative, high-performing culture we value
at Sun Life," said Dean Connor, president and chief executive officer,
Sun Life Financial.
The 35-storey building was designed by Sweeny Sterling Finlayson & Co.
Architects and is under construction just south of Union station in the
fast-growing south-core financial district, steps from the city's
waterfront. Sun Life Financial will occupy approximately 10 floors of
the building and, together with HOOPP, will comprise just under 60 per cent of
the leasable space. One York Street will begin occupancy in the summer
of 2016 for initial tenants.
"We are looking forward to joining Toronto's leading-edge south-core
community. This is a prime location within a vibrant part of the city.
The new eco-friendly property supports our company's sustainable growth
initiatives," said Mr. Connor.
One York Street will offer Sun Life Financial customers, advisers and
employees a bright and open business environment. The 800,000-square-foot office tower, designed to achieve Leadership in Energy and
Environmental Design platinum certification, will provide an
exclusive terrace, green space, 200,000 square feet of retail,
underground parking and connection to Toronto's PATH network.
"The south-core location has attracted many AAA tenants with its dynamic
location, new infrastructure and connectivity with Union station,"
said Peter Menkes, president of the commercial/industrial division at
Menkes. "It has become a very desirable location for many Canadian head
offices, and the building design will create a landmark to the entry of
the downtown core."
"We are excited to be part of this project, helping shape the
marketplace while continuing with our commitment to environmental
stewardship," said Michael Catford, vice-president, real estate, HOOPP.
"It's no surprise that this LEED platinum-pursued tower represents a
new and attractive option for companies looking beyond the traditional
financial core."
Construction costs for One York Street have been estimated at $375-million, and Sun Life Financial will be a partner in the project in
addition to being the anchor tenant. Upon opening, the new building
will be called the Sun Life Financial Tower, with highly visible
branding opportunities due to its prime location along the Gardiner
Expressway and prominent position within the Toronto skyline. In
addition, Sun Life Financial plans to retain its ownership interest at
the 150 King St. West building.
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