A 36-storey office tower touted by its developers as the tallest commercial building in Vancouver to date will feature the latest innovations to meet the “net zero carbon” emissions standard – a major step in Canada’s long-term program to combat the worst effects of global climate change.
The 161.5-metre Stack tower by Oxford Properties Group will be among Canada’s very first buildings to pilot the new standard, a move that is anticipated to magnetize a greater volume of high-quality investment, according to head of real estate management Andrew McAllan.
“There’s a convergence of interests in sustainable building. Some are altruistic and some are just good, old-fashioned capitalism,” McAllan told The Globe and Mail.
Scheduled for completion by 2022, the complex will offer 540,000 square feet of office space. That volume of commercial space operating to the specifications of the most advanced green standards will cement Canada’s place as a worldwide leader in sustainable development, Oxford said.
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The building is the latest in Canada’s drive towards illustrating that environmental consciousness and high-class commercial spaces are a package deal. The Canada Green Building Council estimated that since 2004, it has certified over 3,600 LEED buildings nationwide and registered over 7,600.
“Overall, Canada ranks very high in terms of green building construction,” Starlight Investments building automation and energy specialist Trevor McLeod stated. “More than ever, sustainability is now in the conversation with regard to building design or retrofits, so things are moving in the right direction.”
Ephraim is currently a journalist at Mortgage Broker News, Real Estate Professional and Canadian Real Estate Wealth.
Ephraim is a highly accomplished news reporter whose work has been published across North America and the Asia Pacific region. Before joining Key Media, Ephraim spent eight years working as a journalist with Reuters TV. His areas of expertise include real estate, mortgage, and finance.
As part of its response to Canada’s ongoing housing challenges, the federal government has added another 12 new properties to the Canada Public Land Bank,...
As part of its response to Canada’s ongoing housing challenges, the federal government has added another 12 new properties to the Canada Public Land Bank,...
