"Telus is putting down deeper roots in Ontario," says Joseph Natale, president of Telus' business solutions division. "It is an important growth market for us and our decision to invest in a new building in the heart of Downtown Toronto demonstrates our long-term commitment to Toronto and the province."

The Telus building will be a 30-story tower featuring 780,000 sf of class AAA office space, located at 25 York St. on the northeast corner of York Street and Bremner Boulevard. The estimated construction cost of the building is $250 million. Situated adjacent to the Air Canada Centre, the building will feature direct access to the Air Canada Centre galleria and Union Station.

The project is being developed by Menkes Development with funding from Hospitals of Ontaria Pension Plan and Halcyon Partners fund. It will be the first major project developed Downtown since the late 1990s. Peter Menkes says the company was pressing ahead with the first major tower in a decade because "demand for high quality offices in the Greater Toronto Area is growing."