STACK Toronto TOR01: STACK Expands to Toronto

May 07, 2021 | Posted by Eric Bell

Stack has announced a partnership with First Gulf to develop a 56 MW campus in Toronto, Ontario. This campus will be Stack’s first international expansion, and it is at a strategic location- Toronto, the fourth largest city in North America. The CEO of Stack, Brian Cox, also described Toronto as a city with incredible economic growth, access to power, and connectivity.

The site is located on the former Eli Lilly facility. After 70 years, Eli Lilly moved out in the Fall of 2019 and subsequently sold the property. 

The new data campus would be constructed on 7.5 hectares of land and fed by three diverse substations served by Toronto Hydro. Also, the campus’s capacity will be ready in the middle of 2022 while being available for future expansion. The first phase will deliver 4 MW of raised floor as well as 4 MW of powered shell. The second building will include up to 48 MW of critical IT load will be fed by three diverse substations served by Toronto Hydro. 

STACK Press Release on May 6th, 2021:
STACK INFRASTRUCTURE Expands Internationally With New Campus in Toronto
56MW Campus Represents Company’s Entry Into Canada

Denver, Colorado (May 6th, 2021) STACK INFRASTRUCTURE (“STACK” or the “Company”), the digital infrastructure partner to the world’s most innovative companies, today announced a partnership with First Gulf, a proven market leader in Canadian development and construction, to develop a 56 MW campus in Toronto, Ontario.  STACK’s first international expansion is located minutes from Toronto’s downtown core and will include immediate capacity ready in mid-2022 as well as future expansion.

As the fourth largest city in North America and a critical data center market, Toronto is an ideal location for STACK’s first expansion into Canada. The new STACK development sits on 7.5 hectares (19-acres), located 10km (six miles) from the heart of downtown Toronto, and will be fed by three diverse substations served by Toronto Hydro for maximum scalability and redundancy. The 56MW campus will enable hyperscale and enterprise clients to choose among ready capacity, powered shell, and build-to-suit customized opportunities.

The Company is partnering with First Gulf on site development, leveraging the development firm’s 30 years of experience and more than $4 billion in developed assets within Greater Toronto and Ontario. First Gulf has been recognized as a market leader in development, design-build, and construction for commercial, industrial, and mission-critical projects.

“Toronto, with its incredible economic growth, access to power, and connectivity, is one of North America’s most exciting data center expansion opportunities,” said Brian Cox, STACK’s Chief Executive Officer. “Our company continues to develop where our hyperscale and enterprise clients need to be, and we couldn’t be more excited to partner with First Gulf and expand internationally to meet those needs. This represents the next chapter in the fast-moving and ever-expanding story of STACK growth.”

Ilias Konstantopoulos, Chief Executive Officer of the Great Gulf Group, First Gulf’s parent company, added: “Together, STACK and First Gulf make an exceptional team. With our 30 years of experience, development is where our team thrives, and First Gulf knows the Toronto market as well as anyone. There is incredible potential here for long-term growth of digital communications infrastructure, and we’re proud to join forces with STACK to facilitate that growth.”

"We are delighted to welcome STACK and its partners to Toronto. It is great news that they, along with First Gulf, are further investing in the region’s digital infrastructure to power the City and its business community,” said John Tory, Mayor of Toronto. “As an industrial and financial hub of Canada, increased technology access, development, and jobs are critical to Toronto’s growth, which is why we hope this is just the beginning of a long, successful partnership.”

This latest expansion adds to an already record-setting year of growth for STACK. Recently the Company announced a round of executive hires and the issuance of $400 million of securitized notes at an industry-leading rate. It is also closing out delivery of a new 24MW facility on a 28-acre campus in Hillsboro, a suburb of Portland. 

STACK also offers several other opportunities in key regions throughout the United States, including: 
  • A 400-acre hyperscale data center campus with 400MW potential critical capacity in AllianceTexas, a master-planned development in Fort Worth, Texas, in partnership with Hillwood.  
  • A New Albany, Ohio 42MW data center campus with immediately available and build-to-suit expansion opportunities.  
  • A new 79-acre hyperscale data center campus in Avondale, Arizona, with 150MW of potential critical capacity. 
  • Build-to-suit opportunities in Atlanta, including a potential 12MW in Alpharetta and a 48MW campus in nearby Lithia Springs. 

STACK provides both the digital infrastructure and end-to-end client experience required to scale the world’s most innovative companies. The Company’s offering includes hyperscale campuses and build-to-suit data centers (“HYPER STACK™”), immediately available wholesale colocation and private data suites (“READY STACK™”), and powered shell options (“POWER STACK™”).