December 21, 2011

Eighth Avenue Place Announces Immediate Start of Construction of Phase II Office Building

Final plans are confirmed for 40-storey office tower to be available for initial occupancy in spring 2014

Final plans are confirmed for 40-storey office tower to be available for initial occupancy in spring 2014

The Co-owners of Eighth Avenue Place, Ivanhoé CambridgeA, lberta Investment Management Corp. and Matco Investments Ltd. are pleased to announce the launch of the development’s new west tower, a 40-storey, 850,000-square-foot office building planned for initial occupancy in Spring, 2014. Together, the two towers that comprise Eighth Avenue Place will complete a landmark in the city’s skyline and provide 2 million square feet of commercial office space for Calgary’s growing business community. The towers will also provide two levels of retail and hospitality space, including an expansive winter garden which will provide a respite for the occupants.

Eighth Avenue Place, located between 8th and 9th avenues and 4th and 5th streets SW, was conceived as a two-tower project to inspire and elevate Calgary’s business leaders today and in the future. Starting with a single glass tower, which was completed in early 2011, and now growing to two, the distinctive architectural composition will set a benchmark for sustainable construction.

“We’re delighted to make this announcement and to be moving forward with construction of this second tower to complete Eighth Avenue Place, cementing its place in the Calgary skyline”, said Loy Sullivan, Director of Leasing of 20 Vic Management Inc., representing the co-owners. “We congratulate all of our Eighth Avenue Place stakeholders on this achievement and look forward to completing the second tower and welcoming tenants in 2014.”

More about Eighth Avenue Place
Designed with incomparable architectural skill by Pickard Chilton, with experienced development management by Hines and constructed by Ellis Don with best-in-class materials, Eighth Avenue Place will be distinguished by its environmental and corporate leadership.

The first phase of Eighth Avenue Place, a 49-storey, 1,100,000-square-foot office tower in the financial core of downtown Calgary, was completed in early 2011 and was the first high-rise office building in Canada and third in North America to be to be awarded a LEED® Platinum pre-certification. LEED is sponsored by the U.S. Green Building Council (USGBC), North America’s leading authority for environmentally responsible buildings.

Both towers offer unparalleled views of the Rocky Mountains from their advantageous Location in the southwest section of Calgary’s financial core. The towers’ diagonal, asymmetric arrangement increases the dynamism of the project, but more importantly maximizes and preserves tower views of the mountains to the southwest. Floor to ceiling glass provides an abundance of natural daylight proven to increase office productivity.

About the Ownership Group

Ivanhoé Cambridge
Ivanhoé Cambridge is one of the world’s 10 largest real estate companies. As at December 31, 2011, its assets totalled more than Cdn$30 billion and could be found in over 20 countries around the world. Ivanhoé Cambridge is a real estate subsidiary of the Caisse de dépôt et placement du Québec (, one of Canada’s leading institutional fund managers.

Alberta Investment Management Corp.
Alberta Investment Management Corp. (AIMCo) is one of Canada’s largest and most diversified institutional investment managers. AIMCo was established on January 1, 2008 with a mandate to provide superior long-term investment results for its clients.

AIMCo has invested in an extensive portfolio of real estate assets in major markets across Canada, including Calgary, and brings a successful track record to Eighth Avenue Place by adding value through development, leasing and investment expertise. For more information about AIMCo, visit

Matco Investments Ltd.
Matco Investments Ltd. is a private Calgary-based investment firm with interests in real estate, oil and gas, and oil and gas service firms.

About the Design Architect

Pickard Chilton
Pickard Chilton ( is an international architectural practice delivering recognized design excellence. Principals Jon Pickard AIA, William Chilton AIA and Anthony Markese AIA have led the design of some of the world’s most significant and recognized buildings. Projects include corporate headquarters, commercial office towers, mixed-use complexes, hospitals, laboratories and academic centers. The firm practices from its New Haven, Connecticut studio located on the town green across from Yale University.

They are committed to sustainable design and to applying principles of environmental stewardship to all appropriate projects. This commitment is most evident in the LEED-Gold certification of over 4 million square feet of the firm’s commercial and institutional buildings since 2006.

About the Architect of Record

Gibbs Gage Architects
Gibbs Gage Architects ( is a Calgary-based firm of almost 140 employees which prides itself on providing quality services in Architecture and Urban Planning since 1983. Gibbs Gage has offered Architectural Consulting Services at all levels of Government, Public and Private Boards, and individuals clients throughout Western Canada.

Gibbs Gage Architects believes that there is no process that can take the place of an experienced design team. Gibbs Gage Architects is a practical firm that prides itself on sound technical work, understanding the needs of clients and meeting strict project budgets. Good architecture results from innovative design, good communication and effective control of the construction process. Through experience, Gibbs Gage has proven that good design should cost no more to build.
About the Development Manager

Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,147 properties representing more than 462 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments. With offices in 108 cities in 18 countries, and controlled assets valued at approximately $23.4 billion, Hines is one of the largest real estate organizations in the world. Hines is also a world leader in sustainable real estate strategies, with extensive experience in LEED®, ENERGY STAR®, BREEAM, Haute Qualité Environnementale and DGNB green building rating systems. Visit for more information.

About 20 Vic Management Inc.
20 VIC Management Inc. manages a national portfolio consisting of 20 million square feet of retail, office and industrial properties. Their seasoned team of specialists have the detailed expertise and are committed to creating value for their stakeholders.

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