Tuesday, February 06, 2007

Petro Canada is the tallest building...


...in Calgary at 52 storeys. It is also the tallest building in Canada west of Toronto. The twin towers of Bankers' Hall are both 48 storeys.
The new EnCana tower will be 59 storeys when completed in 2010. Imperial Oil (the Canadian subsidiary of EXXON) has just applied to city hall to buy the laneway between 2 properties they own between 5 Avenue and 6 Avenue at 4 Street SW leading to speculation that they will be building a new head office on the site of their former building which was torn down in the early eighties (too much asbestos to re-model). Since moving their head office to Calgary from Toronto a couple of years ago, they have had their employees jammed in to several buildings downtown. It would make sense to consolidate them under one roof.
Another big project will be the 2 office towers where Penny Lane and Cowboys are located. The lead tenant is rumoured to be Canadian Natural Resources and possibly the delay in starting construction is because of a design change to one tall tower instead of 2 skinny towers built at different times.
Brookfield, downtown Calgary's biggest office landlord, has an existing platform for a 64 storey building, at First Canadian Centre. It was supposed to be the second tower for the Bank of Montreal, but was never built after the last boom went bust. Brookfield bought the property a few years ago from the bank.
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