Welcome!

News Feed Item

Sun Life Financial to relocate corporate headquarters to One York Street

TORONTO, Feb. 25, 2014 /PRNewswire/ - Sun Life Financial Inc. (Sun Life Financial) today announced that it will consolidate employees currently located in two downtown Toronto offices into a new corporate headquarters at One York Street in the dynamic south core financial district. Sun Life Financial is scheduled to relocate to the new building in 2017.

The building is being developed by Menkes Developments Ltd. (Menkes) and Healthcare of Ontario Pension Plan (HOOPP). HOOPP will also be a tenant of this leading edge office development.

"This building was carefully chosen and best fits the multi-faceted needs of our business. It will also give us the opportunity to design a space that fosters the collaborative, high performing culture we value at Sun Life," said Dean Connor, President and Chief Executive Officer, Sun Life Financial.

The 35-storey building was designed by Sweeny Sterling Finlayson & Co. Architects and is under construction just south of Union Station in the fast growing south core financial district, steps from the city's waterfront. Sun Life Financial will occupy approximately ten floors of the building and, together with HOOPP, will comprise just under 60% of the leasable space. One York Street will begin occupancy in the summer of 2016 for initial tenants.

"We are looking forward to joining Toronto's leading edge south core community. This is a prime location within a vibrant part of the city. The new eco-friendly property supports our company's sustainable growth initiatives," said Connor.

One York Street will offer Sun Life Financial customers, advisors and employees a bright and open business environment. The 800,000 square foot office tower, designed to achieve Leadership in Energy and Environmental Design (LEED) Platinum certification, will provide an exclusive terrace, green space, 200,000 square feet of retail, underground parking and connection to Toronto's PATH network.

"The south core location has attracted many AAA tenants with its dynamic location, new infrastructure, and connectivity with Union Station," said Peter Menkes, President of the Commercial/Industrial Division at Menkes. "It has become a very desirable location for many Canadian head offices and the building design will create a landmark to the entry of the downtown core."

"We are excited to be part of this project, helping shape the marketplace while continuing with our commitment to environmental stewardship," said Michael Catford, Vice President, Real Estate, HOOPP. "It's no surprise that this LEED Platinum-pursued tower represents a new and attractive option for companies looking beyond the traditional financial core."

Construction costs for One York Street have been estimated at $375 million and Sun Life Financial will be a partner in the project in addition to being the anchor tenant. Upon opening, the new building will be called the Sun Life Financial Tower with highly-visible branding opportunities due to its prime location along the Gardiner Expressway and prominent position within the Toronto skyline. In addition, Sun Life Financial plans to retain its ownership interest at the 150 King Street West building.

About Sun Life Financial Inc.
Sun Life Financial Inc. is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers.  Sun Life Financial Inc. and its partners have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of December 31, 2013 the Sun Life Financial Inc. group of companies had total assets under management of $640 billion. For more information please visit www.sunlife.com.

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Note to editors: All figures in Canadian dollars.

About Menkes
Menkes Developments Ltd. is a fully integrated real estate company involved in the construction, ownership and management of office, industrial and residential properties. Menkes was founded in 1954 by Murray Menkes, who initially carried on business as a developer of single family homes. Over the years, the company expanded significantly and branched out into other areas of real estate, and is now one of the largest private Canadian developers of residential, industrial and office properties. Menkes has developed a portfolio of high quality, strategically located industrial and office buildings in the GTA, including the Beaver Creek Business Park in Richmond Hill, the Procter & Gamble building and 5000 Yonge in North York, and 25 York Street (TELUS House) in downtown Toronto. For more information about Menkes, please visit menkes.com.

About the Healthcare of Ontario Pension Plan
Created in 1960, the Healthcare of Ontario Pension Plan (HOOPP) is the pension plan of choice for Ontario's hospital and community-based healthcare sector with over 370 participating healthcare organizations. HOOPP's 270,000 members include nurses, medical technicians, food services staff and laundry workers, and many other people who work hard to provide valued Ontario healthcare services. HOOPP members and employers contribute to the defined benefit pension and HOOPP pays out more than $1.3 billion in pensions annually. The purpose of HOOPP's investment program is to pay pensions -- about 80 cents of every pension dollar paid out is generated by investment returns.

As a defined benefit plan, HOOPP provides eligible members with a retirement income based on a formula that takes into account a member's earnings history and length of service in the Plan. Once eligible members start receiving a pension, they receive it for life. HOOPP is governed by a Board of Trustees with representation from the Ontario Hospital Association (OHA) and four unions: the Ontario Nurses' Association (ONA), the Canadian Union of Public Employees (CUPE), the Ontario Public Service Employees' Union (OPSEU), and the Service Employees International Union (SEIU). The unique governance model provides representation from both management and workers in support of the long-term interests of the Plan.

HOOPP was named one of Canada's 10 Most Admired Corporate Cultures.

SOURCE Sun Life Financial Inc.

Image with caption: "Future home of the Sun Life Financial corporate headquarters, One York Street, Toronto, ON (CNW Group/Sun Life Financial Inc.)". Image available at: http://photos.newswire.ca/images/download/20140225_C6837_PHOTO_EN_37077.jpg

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
"Codigm is based on the cloud and we are here to explore marketing opportunities in America. Our mission is to make an ecosystem of the SW environment that anyone can understand, learn, teach, and develop the SW on the cloud," explained Sung Tae Ryu, CEO of Codigm, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, discussed how by using ne...
"CA has been doing a lot of things in the area of DevOps. Now we have a complete set of tool sets in order to enable customers to go all the way from planning to development to testing down to release into the operations," explained Aruna Ravichandran, Vice President of Global Marketing and Strategy at CA Technologies, in this SYS-CON.tv interview at DevOps Summit at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"There's plenty of bandwidth out there but it's never in the right place. So what Cedexis does is uses data to work out the best pathways to get data from the origin to the person who wants to get it," explained Simon Jones, Evangelist and Head of Marketing at Cedexis, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
Enterprises are moving to the cloud faster than most of us in security expected. CIOs are going from 0 to 100 in cloud adoption and leaving security teams in the dust. Once cloud is part of an enterprise stack, it’s unclear who has responsibility for the protection of applications, services, and data. When cloud breaches occur, whether active compromise or a publicly accessible database, the blame must fall on both service providers and users. In his session at 21st Cloud Expo, Ben Johnson, C...
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...
Data scientists must access high-performance computing resources across a wide-area network. To achieve cloud-based HPC visualization, researchers must transfer datasets and visualization results efficiently. HPC clusters now compute GPU-accelerated visualization in the cloud cluster. To efficiently display results remotely, a high-performance, low-latency protocol transfers the display from the cluster to a remote desktop. Further, tools to easily mount remote datasets and efficiently transfer...
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"We're developing a software that is based on the cloud environment and we are providing those services to corporations and the general public," explained Seungmin Kim, CEO/CTO of SM Systems Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.