VANCOUVER — A new partnership has been announced to develop an office tower in downtown Vancouver.
U.S.-based real estate investor Hines will join Reliance Properties to build an office tower on the current site of the Canada Revenue Agency.
The Vancouver market is a first for Hines and the company noted the partnership is the most significant activity in the Vancouver office market since the start of the COVID-19 pandemic.
“We chose Vancouver for our latest Canadian project because we believe in its world-class economy and future, and this partnership was a natural fit because of Reliance Properties’ commendable track record in the city and our shared values,” said Syl Apps, senior managing director for Hines, in a statement.
The partners explained the tower has been designed with COVID-19 in mind, making it the first office building in the city to do so. The partners described it as a “globally relevant, next-generation” office tower.
“The design of 1166 West Pender puts the health, safety and wellness of each of the building’s occupants at the forefront,” said Apps. “We know how important that will be to employees as they return to the office post-COVID-19 – and our objective was to design a building in partnership with Reliance that best helps our tenants attract and retain the highest-quality employees and talent in the Vancouver market.”
The project is seeking LEED, WELL and WiredScore certifications. The third floor will be dedicated to an indoor and outdoor space with amenities including an employee lounge and collaboration area, a modular conference facility, a spa-quality fitness and wellness centre and end-of-trip facilities. Once completed, the project will be managed by Hines.