Menu Close

Urban Development Realizes Performance

Performance Court

Category

  • Value Creation
  • Office
  • 21 storeys
  • 360,000 SF

Ownership

  • Co-Investment -
  • Morguard Corporation
  • and Institutional Client

Services

  • Asset Management
  • Development
  • Property Management​​
  • Leasing

Performance Court – a LE​​ED Gold Class A office tower at 150 Elgin in Ottawa, ON is an urban development that realizes performance at e​very level.​​ The Morguard-led project demonstrates a commitment to healthy, efficient, and high-performing buildings that preserve the environment, while delivering quality product to tenants and long-term value for the co-investors.

The Opportunity

Execute on a vision to build a LEED Gold Class A office tower in downtown Ottawa that meets the market demand for competitive and sustainable workplaces, provides stable income and high yields for Morguard’s shareholders and its co-investor client and sets the benchmark for public benefit spaces. ​

The Value Proposition

The concept of Performance Court at 150 Elgin Street was born in a formal design competition held by the City of Ottawa. Morguard’s proven track record in managing LEED-standard urban development projects and its financial capacity were instrumental in winning the bid to revitalize the site.
Morguard’s approved design called for a 360,000 square foot Class A office tower with commitments to public benefit sp​aces and preservation of a designated heritage building on the site.

Morguard’s asset management, development, and leasing teams worked collaboratively to:

    • secure a solid deal structure
    • create long-term value for shareholders and investors
    • develop and implement a lease strategy

The Result

Leased at 75% by substantial completion and currently 100​​% committed, Performance Court has attracted tenants such as the Canada Council for the Arts, Shopify, CIBC Wood Gundy, and KPMG, who required flexible workplace configurations to engage and retain top talent and support their business, financial, and sustainability goals.

As a LEED Gold certified building, Performance Court has one of the smallest carbon footprints of any multi-tenanted office tower in Canada. The target is a 50% reduction in energy consumption compared to the Model National Energy Code for Buildings (MNECB).

First-of-its-kind in Canada, interactive public benefit space including a street level art gallery, a winter garden with a three-storey digital screen and an outdoor terrace with sweeping views of the nation’s capital.​​​​​

Earned BOMA BEST Platinum Certification in 2016.

ShareThis
 
Oops, an error : please select a service below to share to.
Help us prevent spam by entering the words below
Since your browser does not accept 3rd party cookies,
the system does not work as expected and captcha will be
requested every time.
Oops!
Looks like your browser doesn't accept
third party cookies!
cookie
You need to enable this feature to use the
ShareThis widget.
Here is how you can do so!
Share again » « Back « Back Successfully Shared!
« Back ShareThis
Share this with your friends
Close Select your email service
Import contacts:
Google | Yahoo!
Last Used
      117
      Morguard - Real Estate Ownership, Management and Investment

      Morguard is a fully integrated real estate company. We own, manage and invest in high-quality, well-located . . .

      https://www.morguard.com/#sthash.caSjKNwO

       
       

       

      What Worked:

      You successfully shared to

       

      What didn't work:

      Your message could not be shared to

       

      How to fix it:

      Log back in to complete your share:

      Your message was successfully shared to
      Your message could not be shared:   - Share again
      Your Facebook authorization has expired - log in.
      Log back in to complete your share:
      Pick one or more destinations:
      ... Cancel
      ShareThis
       
      Oops, an error : please select a service below to share to.
      Help us prevent spam by entering the words below
      Since your browser does not accept 3rd party cookies,
      the system does not work as expected and captcha will be
      requested every time.
      Oops!
      Looks like your browser doesn't accept
      third party cookies!
      cookie
      You need to enable this feature to use the
      ShareThis widget.
      Here is how you can do so!
      Share again » « Back « Back Successfully Shared!
      « Back ShareThis
      Share this with your friends
      Close Select your email service
      Import contacts:
      Google | Yahoo!
      Last Used
          117
          Morguard - Real Estate Ownership, Management and Investment

          Morguard is a fully integrated real estate company. We own, manage and invest in high-quality, well-located . . .

          https://www.morguard.com/#sthash.caSjKNwO

           
           

           

          What Worked:

          You successfully shared to

           

          What didn't work:

          Your message could not be shared to

           

          How to fix it:

          Log back in to complete your share:

          Your message was successfully shared to
          Your message could not be shared:   - Share again
          Your Facebook authorization has expired - log in.
          Log back in to complete your share:
          Pick one or more destinations:
          ... Cancel