Ross Ventures Begins Construction Of New Downtown Office Tower
FREDERICTON – Ross Ventures has begun construction of its new office tower downtown, and it will be ready for occupancy in the spring of 2020.
“We’re really excited,” said Ross Ventures CEO Jeff Yerxa in an interview with Huddle. “We’ve begun work on the foundation and there are cranes in the air. This building is going to be a great addition to the downtown, which hasn’t seen this kind of development in a long time.”
In early January, the company was first out of the gate with the announcement of the first new building with “Class A” commercial office space in more than 20 years in downtown Fredericton.
Two other developers made similar announcements in subsequent months. In February, Kileel Developments announced plans to construct an office and apartment complex at the corner of King Street and Westmorland Street. In April, Commerical Properties announced it planned to construct an office and apartment tower at the corner of King Street and Regent Street.
“It’s like chasing the 4-minute mile,” jokes Yerxa of the race to construct new buildings downtown.
Ross Ventures has already secured an anchor tenant for the new building, the main reason they decided to proceed with the project earlier this year.
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Yerxa won’t identify the new tenant, preferring to let them make their own announcement. The same is the case for a food and beverage business that has been secured for the ground the floor.
Unlike the other two projects, Ross Ventures has no plans to include apartments in the new building, which will be six- or seven-storeys tall depending on the number of tenants they secure during the construction phase.
The company has acquired the 390-space Brunswick Street Parking Garage, which will be attached to the new building.
The 90,000-square-foot building will have floor-to-ceiling windows that showcase views of the city and provide offices with natural light. The design will reduce the need for artificial lighting and provide fresh-air ventilation.
“Building design has come a long way since the last ‘Class A’ development here,” said Yerxa in an interview with Huddle earlier this year. “We’ve got state-of-the-art mechanical systems and control systems. We have floor-to-ceiling glass that will allow natural light to flow through the space. It’s something we’re proud and something we think the city will be very proud of.”
Yerxa says the building will meet BOMA certified international guidelines for design and environmental standards.
The preliminary exterior design showcases a facade that is all glass with a curve to the front of the building.
“We wanted something that’s not the typical red brick you see in Fredericton, something that was a little more forward-thinking, a little more modern,” said Yerxa.
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