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Construction
of what will become Vancouver’s tallest building, a $150-million,
40-storey residential-commercial tower, is scheduled to start
at the end of the is month on a prime waterfront location
in Coal Harbour.
At 489 feet (149 metres), the Shaw Tower would eclipse the
downtown Bentall Four, Scotia Tower, Park Place and One Wall
Centre – all 450 feet (139 metres) tall – although
the Wall Centre at Burrard and Nelson stands on the downtown
cores highest point of land.
“Shaw
Tower will be an exciting addition to our over-all Coal Harbour
development and the skyline of downtown Vancouver, “
said Graeme Stamp, executive vice-president of Marathon Developments
Inc., which recently sold the 1.3-acre property for $25.2
million to a consortium led by Westbank Projects Corp.
“This
is the second Coal Harbour site we have sold to Westbank Projects,
and we are impressed by their commitment to design excellence
in their projects.”
Owned by Vancouver developer Ian Gillespie, Westbank just
completed Dockside, a $17-million, 49-unit condo project at
Hastings and Nicola streets, in a joint venture with Wall
Financial Corp.
Westbank, which earlier built the $100-million Residences
On Georgia and the $66-million Palisades twin tower downtown,
is developing the 532,000-square-foot Shaw Tower in partnership
with Ledcor Properties Inc. and Shaw Communications.
An estimated 450 jobs are expected to be created by Gillespie's
latest project during the 18 months it will take to build.
Designed by architect James Cheng, the tower, located behind
the Marine Building near Cordova and Thurlow, is just south
of the site proposed for the $495-million expansion to the
Vancouver Convention and Exhibition Centre.
“What
we’ve got is the premier site in Vancouver when you think
of its location on the waterfront and its proximity to the
city’s central business district,” Gillespie said
Tuesday.
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