Olympia & York rises again

The prominent Canadian developer, Olympia & York, that seemed doomed in the early 1990s when its investment in building Canary Wharf in London, U.K. went bad is back on top again. O&Y Properties Corporation announced this month that its revenues increased 26% in the year ending January 31, 2001, making $288 million over the year. The company recently received site plan approval for the 500,000-s.f. Place de Ville III office development in downtown Ottawa, has renovated an office at 7th Avenue South West in Calgary, and is developing a new building at 2 St. Clair Avenue West in Toronto. Consulting engineers looking for client work take note: a spokesperson said “We see significant growth opportunities in the future.”