Southcore Financial Centre celebrates milestone with topping-off of PwC Tower
at 18 York Street and groundbreaking event

Construction of flagship Delta Toronto and Bremner Tower set to begin in December 2010

TORONTO, Nov. 26 /CNW/ - British Columbia Investment Management Corporation (bcIMC) announced today the completion and initiation of significant phases in the development of Southcore Financial Centre (SFC) with the topping-off ceremony of the PwC Tower and a groundbreaking event for another office tower and the new flagship Delta Toronto hotel.

The 650,000 sq. ft. PwC Tower at 18 York Street will be headquarters to PwC, a leading accounting and consulting firm, and is scheduled for occupancy in fall 2011. The placing of the final beam on the rooftop of the PwC Tower concludes SFC's first phase of development, involving 542 construction days and a dedicated effort by the EllisDon construction team. Following the topping-off event, a groundbreaking ceremony launched SFC's second phase of development: a second office building — the 30-storey, 700,000 sq. ft. Bremner Tower — and the 45-storey Delta Toronto - a next-generation, premium four-star hotel.

"Today's topping off ceremony and groundbreaking event are important milestones in our commitment to Toronto's emerging southcore district, and the partnerships with the companies that will soon occupy the premises," said Chuck Swanson, Vice President, Real Estate, bcIMC. "With this project, bcIMC is advancing the development of sustainable office space designed to benefit tenants and their employees, the local community and the environment."

Encompassing a full block from York Street to Lower Simcoe Street and within walking distance of King and Bay, the SFC complex will be built to a high level of sustainability with PwC Tower and Bremner Tower targeting LEED^® Gold certification.

"With move-in date less than one year away, our people are more excited than ever about the move to PwC Tower," said David Forster, PwC's GTA Managing Partner. "Our new home in Toronto's expanding financial district fits with the firm's commitment to our people, our clients and the environment. PwC Tower brings all our downtown people together, supporting our ability to provide the best service to our clients while creating a collaborative, productive and enjoyable workspace that offers access to public transportation and green design features."

The new Delta Toronto, set to open in 2014, will provide 566 well-appointed, generously sized guest rooms, including 24 extended-stay suites for travelers who are in the city for a longer period of time.  The hotel will feature the latest in sustainable design including heat-recovery ventilation, low-flow fixtures, smartcards to control room lighting and air based on suite occupancy, and green roofs throughout the building.

"This four-star hotel will serve as a flagship property for Delta and, through its many innovative features, will allow us to exceed the expectations of our guests," said Hank Stackhouse, president and CEO, Delta Hotels and Resorts. "The Delta Toronto will be strategically located within walking distance to Toronto's financial and entertainment districts, allowing us to fulfill the needs of both business and leisure travellers and connect them to the city in a convenient way."

Centrally positioned between the PwC Tower and the Delta Toronto, SFC's Bremner Tower — projected to be completed by December 2013 — will bridge the adjacent buildings and form the heart of the SFC complex along Bremner Boulevard. SFC's 1.4 million sq. ft. of office space is designed by award-winning KPMB Architects. The Delta Toronto is designed by Paige + Steele / IBI Architects. All three buildings will be connected by more than 14,000 sq. ft. of urban forest areas and pedestrian walkways.

This project is being developed by GWL Realty Advisors Inc. on behalf of bcIMC. To learn more about Southcore Financial Centre, visit www.southcore.ca.

About bcIMC

bcIMC is an investment management corporation based in Victoria, British Columbia, and manages a global investment portfolio of over $80 billion. Supported by industry-leading expertise, bcIMC invests in all major asset classes, including infrastructure and other strategic types of assets. bcIMC's clients include public sector pension plans, the Province of British Columbia, public trusts and insurance funds. For more information, visit www.bcimc.com.

About Delta Hotels and Resorts

A leading Canadian hotel management company, Delta Hotels and Resorts operates and franchises a diversified portfolio with 45 full-service, city centre and airport hotels and resorts under the Delta brand. Widely regarded as Canada's "brand of choice" by guests and owners, Delta also distinguishes itself as an exemplary employer. It is the only hotel company to have been recognized for its sustained focus on business excellence by the prestigious National Quality Institute with three Canada Awards for Excellence, including the award program's highest honour, the Order of Excellence (2007). The company also consistently ranks as one of the country's best employers in The Globe and Mail's Report on Business annual "50 Best Employers" list (2001-2003, 2005-2010). As well, its Corporate Social Responsibility platform, Delta Helps, includes a chain-wide commitment to the communities it serves through a national partnership with Habitat for Humanity Canada, participation in the Hotel Association of Canada's Green Key Eco-Rating program, and work with various other charitable groups. For more information, visit www.deltahotels.com.

About GWL Realty Advisors

GWL Realty Advisors Inc. is a leading real estate investment advisor providing comprehensive asset management, property management, development and specialized real estate advisory services to pension funds and institutional clients. For more information, visit www.gwlrealtyadvisors.com.

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