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Modernization for Scotia Place in Edmonton, Alberta

EDMONTON, AB (August 30, 2016) - Scotia Place, a Class A Office complex in downtown Edmonton, Alberta is undergoing a transformation that will bring a new vibrancy to the building, create harmony in the surrounding community and complement the changing Edmonton skyline. The modernization features the replacement of the glass panels and redevelopment of the three main entrances. The $22 million makeover is a significant investment that will enhance and renew the façade of the iconic building for future decades.

“Sustainability was integral in the modernization plan,” said Glen Scheuerman, Regional General Manager, Morguard Investments Limited. “Tenants will benefit from brighter and renewed workspace with more natural light in the 567,000-square-foot building. As well, the new glass panels work in combination with multiple upgrades made over the past five years including new operating systems, elevators and high efficiency lighting – all making Scotia Place a high performance building.”

More than 13,000 glass panels will be installed at Scotia Place over an 18-month period beginning in October 2016. Local architecture firm, Kasian Architecture Interior Design and Planning Ltd. led the design strategy. “Modern silver reflective glass will be used on the leading edge of the towers with complementary pacific blue reflective glass panels on all other sides,” said Stewart Inglis, Consulting Principal at Kasian. “The silver glass panels are a new feature on the leading edge and will act as a visual identification of the building. The silver panels will be illuminated at night with horizontal LED lights in a modern, sophisticated pattern to give it prominence on the skyline.”

Redevelopment of the three main entrances will provide an open and inviting welcome to tenants, visitors and those using the above and below ground pedway network, Central Station LRT and bus transit system. The original flamed balmoral granite at the entrances and lobby will remain in place to connect the new with the historic at Scotia Place.

Note to Media: Renderings of the Scotia Place modernization project are available upon request to mkurzuk@morguard.com.

About Morguard
Morguard Investments Limited, a wholly-owned subsidiary of Morguard Corporation (TSX: MRC), provides real estate advisory services and property management for institutional-quality portfolios. Morguard Corporation is a major North American real estate company. It has extensive retail, office, industrial and residential holdings owned directly and through its investment in Morguard REIT (TSX: MRT.UN) and Morguard North American Residential REIT (TSX: MRG.UN). Morguard's combined real estate portfolio is valued at $16.0 billion. Visit MORGUARD.COM.

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For further information contact:

Glen Scheuerman, Regional General Manager
Morguard Investments Limited
T: 780-424-1693
E: gscheuerman@morguard.com
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