There is a plan afoot to move The Co-operators Group Ltd.’s national headquarters from three Guelph locations to one brand new building in the south end of the city, the company and the City of Guelph announced this week.
That is expected to happen in a little over five years, as the national co-operative insurance and financial services organization prepares for the leases on its three Guelph locations to expire.
One of the tallest buildings in downtown Guelph, 130 Macdonell Street, has served as the administrative hub of the company for years. It also has locations down the street at 98 Macdonell, and at 649 Scottsdale Drive.
Back in 2008, Guelph-based Skyline Reit purchased the 130 Macdonell Street location from The Co-operators, along with five other commercial properties across Canada owned by the insurance company. The deal was worth $81.4 million.
In 2011, The Co-operators sold land it owned at the corner of Macdonell and Woolwich Street to Tricar Group, making possible the construction of the first of Tricar’s 18-storey condominium towers in the downtown.
In a press release, Rob Wesseling, president and CEO of the company, said The Co-operators is grateful for the city’s efforts to find a location for a brand new, state-of-the-art building in the south end “that allows us to remain rooted in this community as we bring our three Guelph offices together under one roof.”
The company collaborated with city officials to explore relocation and real estate options. A location has been identified that will keep the company in the community it has been headquartered in for 50 years.
In the release, Guelph Mayor Cam Guthrie thanked The Co-operators for its decision to stay in Guelph, saying the company had other options.
“We’re thrilled to welcome The Co-operators to the city’s south end,” Guthrie said. “Most importantly, by staying in Guelph, The Co-operators will continue to provide good jobs and make other important contributions to our community.”
Few details about the proposed new building have been revealed. It will aim to achieve a gold certification in Leadership in Energy and Environmental Design (LEED), reflecting the company’s commitment to sustainability and employee well-being.
The Co-operators Group Limited is a Canadian-owned co-operative that was started by Saskatchewan farmers back in 1945. It has assets valued at about $45 billion. It offers home, auto, life, group, travel, commercial and farm insurance, and investment products. It is consistently ranked as one of he best employers and corporate citizens in Canada.
