Global real estate firm Oxford Properties Group has unveiled the design of a AAA Class office tower, The Stack, to be established at 1133 Melville in Vancouver, Canada.
Spread across 540,000ft², the company has started demolition on-site and will commence construction work in the first quarter of 2019.
The company expects to complete the project in the first quarter of 2022.
Citing a person familiar with the project, Bloomberg reported that the company will invest C$500m ($386m) for the construction of the tower.
James Cheng Architects and Adamson Associates Architects designed the 530ft tower, which is claimed to be the tallest commercial building in downtown Vancouver.
The Stack will feature a climbing, twisting box design and include six outdoor decks, a pocket park, a rooftop patio, fitness and cycling facilities with 250 bike stalls at ground level for employee wellness.
A drop-off zone with porte-cochère in the building will facilitate passenger delivery through ridesharing providers and autonomous vehicles.
Oxford Properties Group office vice-president Chuck We said: “With The Stack now launched, we’re adding significant and much-needed new supply to Vancouver’s extremely tight office market and to accommodate the city’s economic growth.
“The Stack is one of the most-forward thinking office projects in Vancouver. Not only does it break new ground by incorporating employee wellness into the fabric of its design through its use of natural light, outdoor space and cycling amenities, we’re future-proofing the building with the adoption of Smart Building technology and multi-modal transportation options.”
The company has also entered pre-lease negotiations with three major companies, including Ernst & Young, Blakes and DLA Piper.
The company owns a 50% interest in the Stack development project and the remaining 50% stake is owned by Canada Pension Plan Investment Board.