VANCOUVER, British Columbia–(BUSINESS WIRE)–Keltic Canada Development (Keltic) is proud to announce it will be breaking ground on its newest health-innovation project. Building off recent and successful landmark projects like The Paramount in Richmond, Keltic is proud to team-up with Masimo, a leading global medical innovator with a history of breakthroughs in healthcare technology. Together, they are excited to announce their plans for the new multi-level facility.
The project site, located at 220 Prior Street, is on the northwest corner of the future St. Paul’s Hospital site. Previously, the site was occupied by a warehouse built in 1945, which was owned by European Specialty’s Importer Ltd. between 1957 and 2017. Located on the shoreline of the eastern half of the false creek, this point of intersection has historical significance and is considered a buoy. This innovative project will be the first building in the Healthcare Precinct in the FLATS district. The property* is 100,000 square feet and will feature clinical research, product development, and retail spaces.
With a focus on developing solutions to the most challenging issues in healthcare, Masimo is the ideal fit for this project that will become a cornerstone of research and innovation in B.C. and Canada.
“We’re proud to see that our reputation as a leader in the life sciences sector has helped lead Masimo to expand their operations in B.C.,” said Ravi Kahlon, Minister of Jobs, Economic Recovery and Innovation. “Our StrongerBC Economic Plan is focused on preparing British Columbians for the careers of the future – including the 170 good-paying jobs Masimo is announcing here today.”
“Our team is thrilled to finally be breaking ground. We are excited to work with Masimo and to be a part of such a positive project for the medical industry in Vancouver,” remarked Rachel Li Lei, Managing Director, CEO Keltic Canada Development. “We are committed to strengthening and providing Canadians with facilities that promote a healthy standard of living within their communities.”
For more information on Keltic, visit www.kelticdevelopment.com.
About Keltic Canada Development
Keltic is a Canadian-owned, diversified real estate development company, headquartered in Vancouver B.C. Their numerous projects include residential, industrial, and mixed-use developments. Keltic is supported by its solid financial strength and world-class management team, with a clear focus on long-term strategic growth in Greater Vancouver, B.C.
*Renderings of the 9-storey building are available upon request.