The Tower will bring all EPCOR's downtown employees into a single location, and offers a superior combination of environmental leadership, high quality and in-building amenities. "It will help EPCOR attract and retain the talented people the company needs to grow," Lowry continued, "and demonstrates environmental leadership."
Leases at the company's existing Edmonton offices expire at the end of 2011. EPCOR announced earlier in 2007 that it would be considering options for a new headquarters lease in downtown Edmonton. There are currently nearly 1,200 employees at EPCOR's downtown Edmonton offices, with the total projected to rise to 1,367 in 2012.
"EPCOR has more than doubled its revenues and dividend during the past ten years, doubled its employee count, and gone from operating 5 power and water plants to 50 across North America," Lowry explained. "The success to date, and our long-term vision for growth, means that EPCOR needs more space."
EPCOR's Long Term Plan calls for capital spending of nearly $4 billion on new power and water projects over the next five years.
The EPCOR Tower will be located on 101st Street, between 104th and 105th Avenue, Northwest of the CN Tower and North of the surface parking lot at the corner of 104 Avenue and 101 Street.
Station Lands is a Qualico project designed by Kasian Architecture Interior Design and Planning Ltd. (Kasian), with construction management services to be provided by Ledcor Construction. The firms, as well as the project sub-consultants, have strong Edmonton roots.
EPCOR Utilities Inc.
EPCOR Utilities Inc. builds, owns and/or operates power plants, electrical transmission and distribution networks, water and wastewater treatment facilities and infrastructure in Canada and the United States. EPCOR has been named one of Canada's Top 100 employers for eight consecutive years, and is headquartered in Edmonton, Alberta. EPCOR's web site is
www.epcor.ca.
Forward Looking Information Certain information in this news release is forward looking and related to anticipated financial performance, events and strategies. When used in this context, words such as "will", "anticipate", "believe", "plan", "intend", "target" and "expect" or similar words suggest future outcomes. By their nature, such statements are subject to significant risks and uncertainties, which could cause EPCOR's actual results and experience to be materially different than the anticipated results. Such risks and uncertainties include, but are not limited to, operating performance, commodity prices and volumes, load settlement, regulatory and government decisions, weather and economic conditions, competitive pressures, construction risks, obtaining financing and the performance of partners, contractors and suppliers.
Readers are cautioned not to place undue reliance on forward-looking statements as actual results could differ materially from the plans, expectations, estimates or intentions expressed in the forward-looking statements. Except as required by law, EPCOR disclaims any intention and assumes no obligation to update any forward-looking statement even if new information becomes available, as a result of future events or for any other reason.
<< Note to Media The following attachments are available with this news release: (1) Backgrounder (2) Artist's conceptions of the new EPCOR Tower at Qualico's Station Lands. Images will be available at
www.epcor.ca, through CNW Group, and on disc at the news conference.
>> Backgrounder ------------------------------------------------------------------------- The Building There are currently nearly 1,200 employees at EPCOR's two downtown offices. Edmonton head office headcount is projected to be 1,367 in 2012. All EPCOR Centre and TD Tower employees will move to the new building.
The development will contain an on-site daycare and fitness facility. In addition, Station Lands intends for the base building to contain a full service restaurant, deli-style eatery/cafeteria, coffee/tea vendor, ATM, and dry-cleaning drop-off.
The plan for the site contemplates extensive retail development in the podium structure that will eventually cover the entire site.
The Development Station Lands has been issued a Development Permit by the City of Edmonton. Site preparation is expected to begin in early 2008. EPCOR's lease commences January 1, 2012, with access 210 days prior to commencement for fixturing and early move-in. There is an option for earlier occupancy if the building is completed sooner.
In the RFP process, EPCOR told developers that there would be preference for proposals within one block of an LRT station, or within one block of access to the existing pedway and tunnel system. The EPCOR Tower at Station Lands is adjacent to stops for 33 Edmonton Transit bus routes, and across the street from indoor access to the Churchill LRT Station via City Hall.
The financial terms of the Lease Agreement (January 1, 2012 to December 31, 2031, with extension rights for up to 15 additional years) are confidential. Proposals were evaluated against a scorecard that considered the proposed financial, facility and legal terms. The Station Lands proposal received the highest overall score of all the options evaluated.
The RFP Process EPCOR announced earlier in 2007 that it would be considering options for a new headquarters lease in downtown Edmonton, including renewal of current rental contracts.
In May 2007, CB Richard Ellis, on behalf of EPCOR, issued a non-binding RFP to potential developers and property owners. EPCOR said it would consider proposals for existing, renovated or new space.
The RFP terms were requested by about twenty potential proponents, and ten proposals from seven potential developers were received. The proposals included both new downtown office towers and the redevelopment of existing spaces.
On August 1, 2007, EPCOR, assisted by an independent evaluation conducted by CBRE, shortlisted four potential developers and invited them to participate in the next phase of the process.
Based on the evaluation of the competing proposals, EPCOR conducted due diligence on two of the new build options, and entered into negotiations on the terms of an Offer to Lease for the Station Lands proposal. EPCOR also negotiated the terms of an Offer to Lease for the renewal of its existing space.
In early November, EPCOR Management recommended to the Board of Directors that EPCOR enter into a long-term lease with Station Lands for EPCOR's Edmonton headquarters. The Board authorized Management to negotiate the Lease Agreement. The Lease Agreement was finalized in early December 2007.
LEED(R) Silver certification Some of the strategies being considered by the developer to meet the project's sustainability objectives include the following. The final set of measures will be determined by the project's Environmental Stewardship Program.
<< Sustainable Sites ----------------- - Urban, mixed-use sites reduce dependency on single-occupancy vehicles and their associated impacts on greenhouse gas and air emissions, and infrastructure demand. The site is intended to create a vibrant, safe and walkable community.
- The site promotes public transit through adjacency to the LRT and bus stops and the provision of bike stalls.
- A green roof, combined with Cool Roofing Technology, will reduce energy consumption, reduce the urban heat island effect (artificial increase in the temperatures of urban areas compared to their surroundings) and reduce and treat stormwater run-off.
- Site lighting will respect night sky issues and reduce light pollution while enhancing building architecture and providing a safe and comfortable urban space.
Water Efficiency ---------------- - Water consumption is a priority. The use of low-flow fixtures will reduce potable water consumption and rainwater will be collected for use in irrigating landscaping and the green roof.
- These strategies are projected to provide a minimum 20% reduction in potable water consumption and will consequently reduce impacts on the municipal storm and sanitary systems.
Energy and Atmosphere --------------------- - High performance building envelope and glass to reduce heat loss and gain.
- Building is designed to minimize the unwanted glare and heat from the West Sun while maximizing the harvesting of daylight from the North and South.
- Electrical equipment will use high efficiency lighting and equipment.
Appropriately located occupancy and daylight sensors will drastically reduce dependence on artificial light.
- High efficiency mechanical equipment, including boilers, chillers and fans.
- Heat recovery on exhaust air to reuse waste heat.
- Free cooling will be used when outdoor temperatures are favorable.
- Parkade heating using building relief air.
- Use of a radiant heating and cooling system, a more efficient way to heat and cool as opposed to forced air.
Indoor Environmental Quality ---------------------------- - The use of low-VOC materials including paints, carpets, sealants, adhesives and composite wood products will significantly reduce toxins in the indoor environment such as urea-formaldehyde.
- Focus on sustainably harvested and manufactured materials.
- Local materials will be favoured to mitigate the environmental damage of shipping materials and products over long distances.
- Comprehensive on-site recycling program for building occupants.
- Comprehensive recycling, re-use and diversion of construction waste.
- Materials will contain recycled content where possible. Examples include concrete, steel and many finishes will include recycled steel, flyash, and post-consumer waste to reduce the demand on virgin materials and reuse waste.
>> /NOTE TO PHOTO EDITORS: A photo accompanying this release is available on the CNW Photo Network and archived at
http://photos.newswire.ca.
Additional archived images are also available on the CNW Photo Archive website at
http://photos.newswire.ca. Images are free to accredited members of the media/ -0- 12/07/2007 /For further information: Tim le Riche, (780) 969-8238, cell (780) 721-2013/ CO: EPCOR Utilities Inc.
ST: Alberta IN: UTI SU: -30- CNW 13:30e 07-DEC-07