Schroeder Properties Limited, one of British Columbia's largest commercial developers, announced the impending development of Tech-Park, a project being labeled the first fully integrated, power smart high-tech business park in North America. The project, in the heart of Vancouver, B.C., is also the largest commercial development ever undertaken in British Columbia. If all goes as planned, Tech Park will start taking on tenants in the fourth quarter of next year.

Schroeder Properties gave conference attendees a preview of Tech Park's design and data communication infrastructure. BC Hydro's low cost, dedicated power supply will serve the 2.5 million square feet of office space. "Power quality and reliability are critical to our high-tech customers,'' said Michael Costello, BC Hydro president and CEO. "Working with Schroeder Properties right from the start of this project enabled BC Hydro to create a power infrastructure to supply the facility with the highest quality and most reliable power available.''

The $500 million development is a joint partnership between Schroeder Properties Limited and ING Realty Partners, a North American real estate investment group. After the site is completed and tenant improvements are made, Tech Park could be valued at $1 billion.

Tech Park will ultimately house 12,000-15,000 employees in 13 separate, three-to-seven story high-tech buildings. Each will feature 14-foot ceilings, advanced fiber optics, sophisticated climate control and satellite uplinks.

"Considerable though has been given to the design and construction plans to ensure that Tech park meets the specific needs of knowledge-based and high-tech companies, said Rod Schroeder, president of Schroeder Properties Limited. "This is a significant undertaking that will enhance B.C.'s position as the leading high-tech sector in Canada.''

The site will be protected by manned and gated security, including closed circuit television systems. The buildings will also feature flexible floor plates ranging from 20,000 to 100,000 square feet to allow for expansion of operations.

About 60 percent of the site will be reserved for open space, including pools, fountains and mature trees. In addition there will be 40,000 square feet of amenities, including day-care facilities, a full service health and fitness center, and over 80,000 square feet of retail space lining the main thoroughfares. Restaurants, financial services, in-line skating areas and neighborhood pubs will be included in the surrounding area.

Vancouver, B.C.-based Schroeder Properties is privately owned and specializes in retail and office development. The company has developed more than three million square feet of commercial properties and has an asset base of $300 million.