St. John's, NL

FORTIS PROPERTIES PROPOSES OFFICE BUILDING FOR WEST END OF DOWNTOWN

Fortis Properties Corporation announced today its submission of a development application to the City of St. John’s for the construction of a 12-storey, Class A office building at the corner bounded by Springdale Street, New Gower Street and Hamilton Avenue Extension, also known as the former Horwood Lumber site.  This site is designated by the city’s Municipal Plan as an area allowing for additional building height to 12-storeys. 

“This is an exciting growth opportunity for our Company, while adding much-needed Class A office space to the St. John’s market,” said Nora Duke, President and Chief Executive Officer.  “This development offers the opportunity to further revitalize the west end of the downtown and will provide tenants a signature office environment in which to operate.”

The $50 million project will feature 145,000 square feet of Class A office space and include 183 parking spaces in line with municipal requirements.  The building will be constructed to environmental and energy efficient standards and will exceed the Model National Energy Code for Buildings.

Fortis Properties, a wholly owned subsidiary of Fortis Inc., owns and operates 2.7 million square feet of commercial real estate primarily in Atlantic Canada, 21 hotels in eight Canadian provinces and six unregulated hydroelectric plants in Ontario.  Fortis Properties employs approximately 2,300 people. Visit www.fortisproperties.com for additional information about the Company.

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For further information, please contact:

Gail Tucker

Manager, Corporate Communications

Fortis Properties Corporation

T: 709.737.2927

RENDERING

Front of the building, view from Springdale Street South