New Office Tower Slated for Eau Claire

There's yet another addition coming to Calgary's rapidly changing downtown skyline.

Set to add 600,000 sq. ft. of Class AAA office space to the downtown office market, Oxford Properties Group has announced the development of a 25-storey LEED Gold office tower in Calgary. Currently named in recognition of the desirable downtown Calgary district, Eau Claire Tower will be Oxford's third office tower to be constructed in the area in the past three years. Eau Claire Tower will become the new corporate head office for MEG Energy Corp., who will occupy approximately 11 floors in the building.

"MEG has been a great partner to Oxford at Centennial Place and we're very pleased to have them grow their relationship with us so significantly," said Rick Artus, director, Office Leasing, Oxford Properties in Calgary. "The East and West towers of Centennial Place were completed in 2010 and are fully leased, and given the amount of leasing interest we have received relating to Eau Claire Tower we are confident this development will be another success."

Designed by architectural firm B+H Architects, Eau Claire Tower will feature "an efficient floor plate and large windows with exceptional views" of the Bow River valley and the Rocky Mountains. The building is targeted to achieve a minimum LEED Gold certification, and will also feature a fitness and gym facility, separate bicycle parking complete with shower and locker facilities for cyclists commuting to work and will be +15 connected to Centennial Place.

"Oxford has developed a reputation internationally for quality, execution and service, and Eau Claire Tower will be no exception," said David Routledge, vice president, Real Estate Management, Oxford Properties in Calgary.

News of the development comes as the latest numbers from Statistics Canada show construction intentions in the commercial component increased 13.2 per cent to $1.5 billion, continuing an upward trend that began in late 2011. Gains in four provinces, led by Alberta and British Columbia, more than offset losses in the remaining provinces. According to Statistics Canada, construction intentions in Alberta grew 17.7 per cent following two consecutive monthly declines. The increase was a result of higher construction intentions for non-residential buildings, particularly commercial buildings, and singlefamily dwellings.

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