OTTAWA, May 29, 2024 (GLOBE NEWSWIRE) -- Colonnade BridgePort, a leading full service real estate investment and management company, along with building-owner Fiera Real Estate, recently completed the replacement of the gas-powered HVAC system at 450 March Road with electric resistance heaters, virtually eliminating CO2 emissions and earning the Zero Carbon Building - Performance Standard certification from Canada Green Building Council.
The complex project at the five-storey, 97,500 sq.ft. building involved over 18 months of planning, with removal and installation of the roof-top units successfully completed in July 2023. Analyzing results through summer and winter months, calculations indicate an annual reduction of approximately 94 tonnes of CO2 emissions.
“Colonnade BridgePort is committed to partnering with clients to meet sustainability goals for their properties,” said Vice President Innovation, ESG and Advisory Services Brandon Malleck. “We are incredibly proud to have been a part of such an environmentally significant achievement at 450 March Road. Congratulations to Fiera Real Estate for their efforts to make their buildings more sustainable for future generations.”
With project objectives to source an HVAC system that does not use gas, recovers heat energy, and requires minimal roof space; as well as several key considerations including electrical and structural capacity, contractor selection, and tenant impact; Colonnade BridgePort drew on its 35+ years of commercial real estate expertise to ensure each phase of the project was executed seamlessly.
“Eliminating fossil fuels from heating systems is a foundational part of our decarbonization pathway and this project advances the Fiera Real Estate CORE Fund towards its goal of net zero emissions by 2040. It’s only through collaboration with our property managers that makes these projects possible,” said Jag Singh, Fiera Real Estate’s Director, Sustainable Investing.
The significant reduction in greenhouse gases earned 450 March Road a Zero Carbon Building - Performance Standard certification – an award for buildings that are highly energy-efficient and minimize greenhouse gas emissions from building materials and operations. The building is also BOMA Best Sustainable certified.
See project case study and video here.
About Colonnade BridgePort
Colonnade BridgePort is a full-service real estate company, offering property management and leasing services, acquisition, development, investment management and asset management for commercial and residential properties. We take the time to understand our clients’ objectives and then apply our real estate expertise and market knowledge to drive better performance. Colonnade BridgePort is headquartered in Ottawa with offices in Mississauga, Toronto, Dartmouth and Fredericton. colonnadebridgeport.ca
About Fiera Real Estate
Fiera Real Estate is a leading investment management company with offices in North America and Europe, and a team of over 100 employees. The firm manages over C$9.4 billion of commercial real estate globally through a range of funds and accounts as at March 31, 2024. The highly diverse nature of its portfolio – geographies and asset types – combined with a range of high-quality strategies provides investors with opportunities to diversify their exposure and customize their investment experience within the real estate asset class. Fiera Real Estate is wholly owned by Fiera Capital Corporation, a leading independent asset management firm with more than C$165.2 billion in assets under management as at March 31, 2024. ca.fierarealestate.com
About Canada Green Building Council
The Canada Green Building Council supports the building sector’s transition to green buildings. Green buildings are powerful tools for positive change. By unlocking the value and potential of green buildings, Canada’s real estate sector can significantly reduce carbon emissions, eliminate environmental impacts, future-proof assets, and contribute to healthier and more resilient communities. CAGBC works with Canada’s real estate and building sector to provide the market insights, expertise and practical solutions they need to push their sustainability efforts further and faster. cagbc.org
Media Contact
Rachal Fleury
Manager, Marketing and Communications
rfleury@colonnadebridgeport.ca | 343.633.5129
Disclosure
The information presented is for informational purposes only and is not intended to be, and should not be construed as, an offer to sell, or the solicitation of an offer to buy, any investment product. The information presented in this document, in whole or in part, is not investment, tax, legal or other advice, nor does it consider the investment objectives or financial circumstances of any investor.
This document may contain “forward-looking statements” which reflect the current expectations of Fiera Capital and/or its Affiliates. These statements reflect current beliefs, expectations, and assumptions with respect to future events and are based on information currently available. Although based upon what Fiera Capital and its affiliates believe to be reasonable assumptions, there is no guarantee that actual results, performance, or achievements will be consistent with these forward-looking statements. There is no obligation for Fiera Capital and/or its Affiliates to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2e1aed38-7f66-4186-aa84-06d3a5205f9b
