CIB and Avenue Living to Commit $150 Million Towards Sustainable Retrofit Projects
The goals of the sustainable retrofit projects include optimizing building performance and decreasing GHG emissions by more than 49%.
The Canada Infrastructure Bank (CIB) and Avenue Living will commit $150 million towards sustainable retrofit projects in low-density residential buildings across Western Canada.
The goals of the sustainable retrofit projects include optimizing building performance, decreasing GHG emissions by more than 49%, and enhancing functionality and comfort for occupants.
Specializing in Canada’s existing rental base, Avenue Living owns and operates more than 500 medium-density buildings, consisting of over 14,400 apartments and townhomes, in 20+ regions across Canada’s prairie provinces and the United States.
Projects will be delivered simultaneously and focus on renewable energy generation on-site, low carbon heating and cooling, sensors and smart thermostats, optimized air filtration, water and vapour management, and energy consumption strategies to effectively reduce in-suite utility costs for lower-income renters.
All projects are expected to begin late in 2022.
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May 11, 2022