CIB commits $25 Million Towards Large-Scale Commercial Retrofit Project in Kingston
October 12, 2022 | By Logan Caswell
Construction for the retrofit project has begun and is expected to be completed by 2024.
(Photo provided by: CIB)
The Canada Infrastructure Bank (CIB) and Modern Niagara Group (Modern Niagara) recently announced an agreement to retrofit 945 Princess Street in Kingston, Ontario. The CIB is committing $25 million in financing towards the large-scale retrofit of the 220,000 square-foot commercial building.
Through the CIB’s financing, the commercial space will be upgraded to reduce carbon emissions by more than 80% or approximately 2,000 tonnes annually. By replacing the building’s existing fossil-fuelled heating system with electrified systems such as heat pumps and enhancing its operation control system and insulation, the retrofit will help transform this building from the 1940s into a leading energy efficient and sustainable innovation hub.
Modern Niagara helps building owners, managers, and general contractors achieve their objectives by developing custom, turnkey solutions that meet the mechanical, electrical, integrated building technology, and building services needs of their properties across Canada.
Construction for the retrofit project has begun and is expected to be completed by 2024.
