Tridel In The News

Developer building 'green' condos in T.O.

Verve's two-storey lobby has a suspended second floor made of frosted glass, translucent light panels that change colour over the course of the day, and suspended ornamental artwork that also reflects the coloured light. The building (left) on Wellesley Street East will anchor a planned community on the former Wellesley Hospital site.

METRO TORONTO NEWS SERVICES
Thursday, June 23, 2005, Page 16
METRO.

Canada's largest condominium developer, Tridel, has launched a new concept in energy efficient and environmentally friendly condominium development in Toronto.

Verve, a new community in the Sherbourne and Wellesley area, will be one of Canada¡¦s largest LEED certified "green" residential buildings, recognized by Natural Resources Canada for outperforming the energy code requirements for condominiums by more than 25 per cent. The community is also expected to reduce greenhouse gas emissions by 944 tonnes per year.

LEED, which stands for Leadership in Energy and Environmental Design, is administered by the Canada Green Building Council (www.cagbc.org) and provides a four-tier ranking of a building¡¦s environmental performance. Buildings can accumulate credits in six categories related to environmental impacts: land use and site development; water efficiency; energy performance and emissions reductions; efficient use and/or reuse of products, materials and resources; indoor environmental quality; and overall environmental innovation. Achieving certification requires special attention to various details about a building's performance in each of these categories.

LEED buildings offer many clear advantages to their owners or occupants. The focus on energy performance results in significantly lower operating costs, while residents also benefit from improved indoor air quality and exposure to natural light. LEED offers a number of credits for the use of products, like carpets, paints, adhesives and sealants that contain fewer volatile organic compounds that can contaminate the indoor environment.

In order to keep green condominiums affordable for purchasers, Tridel teamed with the Toronto Atmospheric Fund (TAF) to develop a "green loan" program. This innovative financial instrument leverages the projected operating cost savings of an energy efficient building to increase the investment in equipment and material.

The investment will be paid back by the Condominium Corporation over a seven-year period. Once the loan is re-paid, the full operating cost savings will accrue to condo owners and residents.