5 Reasons why Corporate Social Responsibility (CSR) is important for the Condominium Industry

5 Reasons why Corporate Social Responsibility (CSR) is important for the Condominium Industry

CSR (or Sustainability) reports have become popular for large, multi-national, public companies over the past several years. The trend is a positive one and in some European countries, all publicly traded companies are regulated to disclose information such as carbon emissions. However, only 18% of all the CSR reports produced in North America were private and the majority (60%) were from large companies. Only 6% of Canadian Real Estate companies published a report.*

Tridel is a mid-sized, privately owned company and is Canada’s leading condominium developer, with over 80,000 homes built to date. The company decided in 2015 that it would produce their 1st CSR report .   They believed the report would be beneficial to a variety of its stakeholders including: employees, customers, community residents, realtors, and partners. Below are some key reasons why CSR is important for their Customers and Realtors:

 

  1. “Built right the 1st time”  – Home ownership is one of the most important investments an individual will make. Owners expect top quality and a developer that is willing to put in the extra effort to make Customer Care exceptional will reduce frustration and/or additional expense later in the home ownership life-cycle.  At Tridel, 98% of homeowners said they would recommend Tridel to family members or friends.**

 

  1. Environmentally Friendly Design – Not only is this better for planet earth, but also for homeowner’s wallets. Environmentally friendly buildings are more energy and water efficient and are built for long-term sustainability. They are also healthier places to live. Tridel helped to initiate LEED® (Leadership in Energy and Environmental Design) in Canada in the early-2000s and is currently the largest developer of commercial certified LEED® MURB (Multi-use residential buildings), with over 20% of all these type of condos built in Canada.***

 

  1. Building a Sense of Community – A condominium is more than just a building. It is a collection of homes that is a community within itself, residing in a larger community that is part of a broader neighbourhood and municipality. That is why it is so important that your developer considers the long-term sustainability and impact when introducing a new project.  The condo should help shape the community, and consider all stakeholders, especially those who live in and around the neighbourhood. Tridel is one of the only builders that have an in-house development planning department to ensure all of these factors are considered.

 

  1. Built by People who Care – As many trucks and cranes one may see at a construction site, building beautiful, high-quality, efficient suites in a condominium takes many hands and plenty of teamwork. ‘Old-school’ workmanship and care for the end-result is inherent throughout the entire process and exemplified within the Tridel team, as well as their trades and suppliers. For Tridel, family-values are an essential core-element to the business, and people are treated fairly and with respect. Tridel takes this one step further by focusing on the future of the industry, by investing in the next generation of construction workers through the B.O.L.T. Charitable Foundation.

 

  1. Built with the most Innovative Technologies – A building may take several years to become the final product and developers must look to use the most advanced technologies possible during the design process to ensure it will be as innovative as possible upon delivery.  Tridel invests in innovation, working with academic partners, innovation hubs (through the TowerLabs with MARS) and using feedback from their homeowners, trades and suppliers, to improve both the product and customer lifestyle experience.

 

In conclusion, when you are considering purchasing a new condominium home or if you are a Realtor offering choices to your client, please try to look beyond just the floorplans and the pricing. You want to make sure you have a sustainable home that will provide the most over-all value for the long-term…and a home that you feel good about.

Please download the report from Tridel.com to review all the details, or watch this video. We encourage you to share with friends, family and/or clients. You are also welcome to request printed copies at ask@tridel.com

Your feedback is greatly appreciated!  Please email your comments to  ask@tridel.com.

*CSR report statistics from the ‘2015 North American Sustainability Trends’ Report by the Centre of Sustainability and Excellence 

**Tridel’s internal customer satisfaction survey at time of Homeowner Orientation for 2014 and 2015

***Verified by the Canada Green Building Council

 

Stacey Fruitman,  Tridel CSR Consultant