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Navigating the Green Shift | Commercial Real Estate’s Role in a Sustainable Future

In Commercial Real Estate (CRE), sustainability initiatives and eco-friendly properties are not simply trending – they represent an essential step toward future-proofing the industry. Moving away from conventional notions of larger and better properties towards properties with sustainable features marks an incredible shift within CRE ethos. It underscores our urgent need to combat climate change, reduce carbon emissions and optimize energy use to create more eco-friendly properties in order to sustain our world for longer.

The Interconnection of Sustainable Solutions and CRE

Sustainable solutions and commercial real estate (CRE) share an intimate connection. According to the World Green Building Council, commercial properties account for an astounding 39% of global carbon emissions, underscoring CRE’s essential role in combatting climate change. No matter who invests or rents within large buildings – investor, tenant of such properties themselves or construction company leader- each person plays an essential part in creating sustainability solutions for future generations alike.

Advantages of Embracing Sustainability in CRE

Adopting sustainable practices in CRE can not only be ethically rewarding but can be financially strategic as well. By investing in energy-saving systems like LED lights, which lower electricity expenses while lengthening product lifespan and window tinting that lowers HVAC usage needs – sustainability truly has its rewards!

LED Lighting: A Bright Idea for Sustainability

LED lighting stands out as both cost-effective and eco-friendly, boasting long lifespans of over 70,000 hours compared to fluorescent tubes, which may only last 34,000. Plus, their lower energy use could result in major carbon emission reductions as well as energy cost savings.

Window Tinting: Cooling Costs Down

Window tinting in commercial properties is an efficient yet straightforward method of increasing energy efficiency. By reflecting sunlight away, window tinting reduces interior temperatures in buildings as well as air conditioning usage – cutting operational costs and carbon emissions simultaneously.

Tackling Climate Risk Through Energy-Efficient Infrastructure

Integrating energy-efficient systems into commercial properties has never been more critical, given climate change’s physical impacts and extreme weather events that drive operational costs up. By investing in resilient properties that use less energy than necessary to run efficiently and thereby help build sustainable futures for generations yet unborn, real estate firms can reduce risks while making contributions towards creating a lasting sustainability legacy for future generations.

Looking Ahead: The Future of Sustainable CRE

Over the coming decades, CRE will witness an increasing emphasis on sustainable development; meeting market demands greener properties while reporting carbon reductions transparently and adopting innovative technologies to further sustainability. Furthermore, as this sector evolves its attention will not solely focus on building sustainable properties but retrofitting existing buildings to comply with environmental standards as well.

Sustainability in commercial real estate (CRE) demands collaboration, innovation, and an unyielding dedication to change. By adopting sustainable practices, CRE can contribute significantly to climate change mitigation while simultaneously positioning themselves to thrive in an eco-conscious society. Now is the time for CRE industry players to recognize this imperative by taking small yet consistent actions towards making CRE more eco-friendly – creating positive impacts not just today but for generations yet to come!

Check out my video for more insight.

Media, News

Toronto Mixed-Use, Multi-Tower Redevelopment

Upgrades to the commercial districts of Toronto, Ontario are always welcomed by retailers and CRE investors alike. And this time, it’s the Golden Mile district mixed-use redevelopment that’s set to undergo massive changes. This redevelopment project is expected to attract more visitors and more foot traffic. With everything going according to plan, Golden Mile’s multi-tower project is on the path to becoming the hottest part of town.

 

Plenty of Green Spaces 

While the multi-tower mixed-use redevelopment project initially suggested a total of 3,500 m² for parks and open spaces, the area’s been increased to astonishing 5,694 m².

This comes as great news for retailers who are expecting an increase in foot traffic. After the coronavirus pandemic’s been put under control, consumers are expected to flock to parks and open spaces and enjoy greater freedom once again, which will inevitably lead to more interest in brick-and-mortar shops, cafes and restaurants nearby, and subsequently more spending.

 

What This Means for Canadian CRE Investors 

With the proposed redevelopment project in Toronto, everyone’s showing greater interest in the Golden Mile district. From potential new renters in the area to business owners looking for new office space and excited retailers who are looking to increase their sales – everyone is excited to see this project succeed.

Now is a good time to invest in retail CRE in Ontario and receive a higher return on investment.

 

Read more at:
https://www.redevgroup.com/news-article/multi-tower-mixed-use-redevelopment-in-toronto

Media, News

Video Game Developer BioWare Stakes a Claim in Downtown Edmonton With Brand New HQ!

BioWare has big news! The video game development company that established its HQ in Edmonton, Alberta in 1994, has recently moved shop to the downtown Epcor Tower location. The company has risen through the ranks over the years to establish itself as a globally recognized name in the industry. 

This recent move into their new downtown Edmonton headquarters, in a way, showcases Bioware’s focus on their employees, having grown from three to 300. This expansion is a welcome change as planting one’s roots in one of Canada’s major regions can only bode well for big investments in commercial real estate down the road. 

 

New HQ, New Opportunites

In the new Epcor Tower, BioWare occupies 75,000 square feet on three floors. This affords them more room to flourish and grow, and even expand on their infrastructure. The company has upgraded to hundreds of gaming stations, arcades, recording studios and motion capture studios. 

Because of this expansion, BioWare has achieved positive momentum in the CRE sector. This also gives them access to a more adept workforce and scale their operations to staggering proportions. 

There was some speculation that BioWare was planning to move its headquarters outside Edmonton, but these have long since been dismissed. Considering that it is the mastermind behind some of the most legendary franchises; Dragon Age, Baldur’s Gate, Jade Empire and Mass Effect, it’s no wonder that the company has decided to stay put in the city where it all began. 

 

Generous Tax Credits in Edmonton

Casey Hudson, Manager at BioWare, has stated that the Interactive Digital Media Tax Credit in Edmonton rendered the move tremendously easier. 

This is a 25% refundable tax relief incentive that really proves Edmonton and Alberta’s dedication to drawing in and retaining corporations. With BioWare, the credit covered a portion of the building costs, allowing the firm to turn its attention to further expansions. The new move, reports Casey Hudson, has enhanced the work ethic greatly. 

 

Conclusion

BioWare’s HQ shift has proven to be efficient and strategic in positioning the firm to acquire that vital competitive edge. The 25% refundable tax credit is nothing to sniff at, and has allowed the company to go cherry-picking from a wider talent pool, not to mention newer investment avenues. 

This move heralds a new day for the CRE market as a whole as it has complemented the fast-changing downtown landscape. 

 

Learn more right here:

https://www.redevgroup.com/news-article/new-bioware-headquarters-in-downtown-edmonton