While the major upgrades underway on the Wellington Building, at Bank Street, are scheduled to continue into 2015, the neighbouring Bank of Canada – located on Wellington Street between Bank and Kent streets – is likely to undergo significant renovations as early as 2012.
A detailed study into what infrastructure work is required for the Bank to meet building codes and other regulatory requirements is currently underway. The results of the study, expected in the second quarter of 2011, will help determine the scope of the work and related timelines.
“The head office facility is more than 30 years old,” says Jeremy Harrison, a spokesperson for the central bank.
“It has reached the age at which building systems and components require renewal.”
The bank recently invited commercial real estate brokerage firms to submit bids on leasing services. That solicitation closed earlier this month.
Mr. Harrison says the recent request for proposals is a precautionary measure in case the Crown corporation needs swing space to temporarily accommodate employees while construction is underway.
While he says the study will determine how much, if any, swing space will be needed, industry sources say the bank is looking at leasing between 180,000 and 200,000 square feet. Some question whether that much contiguous space could be found within existing buildings in downtown Ottawa.
Sources speculate the availability of temporary office accommodations could influence how quickly the renovation work can be completed.
In 2004, the bank awarded Vanbots Construction a $15-million contract to remediate the exterior glazing of the building’s two 12-storey towers.
The company says the work involved removing and replacing the exterior skin, including the atrium, of the towers and replacing it with a new curtainwall system without interrupting bank operations.
Age: The original centre tower was built in 1937-38. Construction of the east and west glass towers began in 1972 and was completed in 1979
Size: 836,000 square feet
Local head count: Approximately 1,080 Bank of Canada employees work in Ottawa