The Stack, slated to be the tallest office building in Vancouver, is going to have to wait just a bit longer to be officially crowned, as pandemic-related supply chain issues have caused a delay in construction, Oxford Properties Group confirms to STOREYS.
"Due to COVID and supply chain interruptions, we have faced a few minor construction delays that pushed completion from our originally forecasted projection of Q2 of 2022. As we speak, we are in the final push to occupancy, with our team working hard to have the construction completed in short order. We expect customers to begin moving into their new offices by the end of Q4," Ted Mildon, Senior Director of Office Leasing at Oxford Properties Group said.
Originally slated to be completed in Q1 2022 when the development was first announced in 2018, the date was then pushed to Q2 2022, as Mildon notes. An Avison Young report from last month then had the estimated completion at Q3 2022, which ends this month.
Located on 1133 Melville Street near Burrard SkyTrain Station, The Stack is set to become the tallest office building in Vancouver, at 530-ft tall, despite consisting of only 36 storeys, about 10 storeys less than most of the other skyscrapers around that height.
Much of that has to do with the building's unique structure -- designed by James Cheng Architects and Adamson Associates Architects -- which looks like four boxes unneatly stacked on top of one another. Each box -- that's what they're officially called -- looks a bit different than the rest, on the inside and the outside, and consists of less than 10 floors of office space, as well as one or two outdoor deck areas.
In total, The Stack will consist of 540,000 sq. ft of class AAA office space, further adding to downtown Vancouver's inventory.
Mildon tells STOREYS that occupancy as of September is now at 70% and that Oxford Properties "couldn’t be more excited about the calibre of customers that have been attracted to The Stack."
Anchor tenants currently include Blake, Cassels & Graydon LLP (Blakes), an international corporate law firm; DLA Piper, another multi-national law firm; and Ernst & Young, the prominent accounting firm. Blakes is leasing 80,000 sq. ft (floor 31-36), DLA Piper 67,000 sq. ft (floor 27-30), and Ernst & Young 66,000 sq. ft (floor 19-23).
When asked how the delays would affect tenants, Mildon told STOREYS that Ernst & Young is the only tenant who will be impacted, but that Oxford is working closely with them to reduce the effects of that delay, which involves "a fantastic swing solution in one of Oxford's other buildings."
According to Oxford Properties' official specification sheet for The Stack, there is a slot for the fourth and final anchor tenant currently unfilled, and Oxford's leasing portal shows that floors three through nine in Box 1 are currently available, with each floor consisting of just over 20,000 sq. ft of space, and Mildon tells STOREYS that Oxford is currently "active with a number of prospective customers."
Other notable tenants signed include Canaccord Genuity, a financial services firm (98,000 sq. ft, floor 10-14 and 24-25), Plentyoffish Media, the dating app company (30,168 sq. ft, floor 16-18), and the Business Development Bank of Canada (16,700 sq. ft, floor 15). Nook Restaurant will also be leasing a 5,000-sq.-ft space at ground level.
Tenants of the building will also have access to a wide assortment of amenities, such as the fitness centre, concierge, EV charging station, and a 6,000-sq.-ft rooftop terrace above the 36th floor, 511 ft above ground. Employees who work at The Stack are also encouraged to take eco-friendly modes of transportation, with such encouragement built in to the building, which includes 250 bike stalls and shower facilities.
When the development was originally launched in 2018, VP of Office at Oxford Properties, Chuck We, said that "The Stack is one of the most-forward thinking office projects in Vancouver. Not only does it break new ground by incorporating employee wellness into the fabric of its design through its use of natural light, outdoor space and cycling amenities, we're future-proofing the building with the adoption of Smart Building technology."
The Stack is targeting the LEED Platinum Standard for Core and Shell certification and is the first commercial office tower in Canada to be certified under the Canada Green Building Council’s Zero Carbon Building Design Standard.
The Stack is co-owned by Oxford Properties and the Canada Pension Plan Investment Board in a 50-50 partnership.
This article has been updated to correct incorrect information that was provided.