Toronto, Ontario – September 27, 2007: Aecon Group Inc. (“Aecon”) (TSX:ARE) announced today that its Buildings Division has secured a contract with an estimated value of $100 million from the Toronto Economic Development Corporation (TEDCO) to build TEDCO’s Corus Entertainment office building and broadcast centre located on Toronto’s waterfront.
The contract involves the construction of an approximately 500,000 square foot office building, including 70,000 square-feet of underground garage parking.
Once completed, the TEDCO building will serve as Corus Entertainment’s Toronto headquarters and will be a landmark building on Toronto’s waterfront. This project is the first commercial development along the East Bay Front area and is the first step in the city’s efforts to bring new development and employment to Toronto’s central waterfront.
The building will achieve gold-certification for Leadership in Energy and Environmental Design (LEED), marking the ninth LEED project for Aecon. Work on the project is scheduled to begin this month and is expected to be completed in August of 2009.
“Given the significance of this building for the development of Toronto’s waterfront, we are especially pleased to be a part of it,” said Robert McDonald, President, Aecon Buildings. “We look forward to working with the Toronto Economic Development Corporation on this landmark project.”
The Toronto Economic Development Corporation is the principal redevelopment corporation for the City of Toronto and major landowner across the city. TEDCO is focused on commercial, industrial and mixed-use projects working together with both public and private sector partners.
Aecon Group Inc. is Canada's largest publicly traded construction and infrastructure development company. Aecon and its subsidiaries provide services to private and public sector clients throughout Canada and internationally. Aecon's shares are listed for trading on the Toronto Stock Exchange under the symbol ARE.