Canadian Western Bank (CWB) will move its corporate headquarters into a new 16-storey office tower currently being built in downtown Edmonton.
Chris Fowler, chief executive officer of CWB, told the Real Estate News Exchange the move into the new space of 200,000 square feet will accommodate future growth plans for the financial institution.
CWB will be the anchor tenant in Edmonton’s ICE District’s last available tower that overlooks ICE Plaza. The tower will be named after CWB.
Currently, CWB’s headquarters is in the Canadian Western Bank Place tower at Jasper Avenue and 103rd Street. The company has been in that building since 1995, growing from two floors to 12 floors in about 150,000 square feet.
Fowler said the total bank staff comprises about 2,600, with 1,200 employees in the corporate office in Edmonton.
The tower will include a bank branch on the main floor, a mezzanine lobby and nine floors of CWB office space.
CWB is a full-service financial institution with a focus on the financial needs of businesses and their owners. It was founded 38 years ago by local entrepreneurs and has grown to $1 billion in annual revenue.
ICE District offers many amenities, including restaurants, retail, public plaza, fitness facilities and grocer, 3,000 new underground parking stalls, proximity to LRT, and access to downtown’s pedway network.
Flexible workspaces and fluid design will hallmark the street-level banking centre, second-floor lobby and office floors above, according to CWB.
Designed to LEED (Leadership in Energy and Environmental Design) Gold and WELL Gold Standards, the tower will also maintain a focus on environmentally sustainable building standards.
The vacancy rate for new Class AAA office space in Edmonton’s financial district as of the fourth quarter of 2021 was 11.9 per cent, according to Avison Young, compared to an overall downtown vacancy rate of higher than 17 per cent.
ICE District is the largest mixed-use sports and entertainment district in Canada. ICE District Properties, a mixed-use development surrounding Rogers Place and Ford Hall, is being developed through a Katz Group and ONE Properties joint venture.
