Stantec headquarters on the move.
Relocation to new arena district ‘wonderful’ for downtown
Stantec announced Wednesday it is moving its headquarters into the Edmonton Arena District, a move hailed by some observers as proof the project is already speeding downtown revitalization.
The engineering and architecture consulting giant has signed a lease with Katz Group and WAM Development Group through an affiliate of the EAD Joint Venture.
“This agreement represents our commitment to the community of Edmonton and the downtown redevelopment,” Bob Gomes, president and CEO of Stantec, said in a release.
“Our decision is the result of an intensive selection process over the last year, and we are looking forward to moving ahead with design and construction.”
Preliminary designs are underway, said the release.
Stantec and the EAD Joint Venture declined to make representatives available for interviews, saying details about the development will be released at a news conference planned for the end of August.
“On behalf of the Edmonton Arena District, we are very pleased Stantec chose to partner with us,” said Darren Durstling, president and CEO of WAM Development Group, in the release.
“We are confident this building will be the cornerstone of Stantec’s continued success and that it will drive the entire Edmonton Arena District development forward in ways that will benefit Edmonton and Edmontonians for generations to come.”
The Edmonton Arena District, to be anchored by Rogers Place now under construction, is planned to be a mixed-use urban destination including a public plaza and a mix of retail, office, hotel, residential and entertainment spaces.
The Katz Group and WAM Developments are also constructing a 27-storey tower at 101st Street and 104th Avenue, across the street from the new arena. It will be leased mainly by the City of Edmonton.
Stantec put out a call last year to developers for proposals to provide the company a new head office.
Stantec’s approximately 1,500 local employees are currently scattered among five downtown buildings. Those leases come due in 2018-19.
Keith Shillington, Stantec’s vice-president for the Edmonton region, said last year it was time to start planning for consolidation.
“This transaction is representative of a trend in the Edmonton region whereby the vast majority of companies have been growing and are anticipating continued growth into the foreseeable future,” said Cory Wosnack, a principal with commercial real estate firm Avison Young, who brokered the deal.
Jim Taylor, executive director of the Downtown Business Association, said the announcement heralds a major milestone for downtown rejuvenation.
“To have another highrise with a sky sign on it like iconic Edmonton business Stantec is just a wonderful thing,” Taylor said.
“Whether it’s Stantec or not, to have another highrise announcement means we now have three new highrises underway in the very core of downtown.”
Katz Group and WAM broke ground in June for the City of Edmonton tower at 101st Street and 104th Avenue. Developer John Day is building a 25-storey tower on Rice-Howard Way.
“We haven’t seen that in decades and decades,” Taylor said.
“This is everything that we’ve said for years would happen if you had a catalyst like the arena come into an area like the downtown.”