Sustainable Retrofits Deliver Measurable Results
400 University Avenue, Toronto
400 University Avenue was initially acquired by Crown’s value-add fund, CR II LP. Crown undertook a large-scale capital and leasing program after the departure of an anchor tenant.
Crown’s repositioning plan included replacing the windows and cladding, retrofitting HVAC systems, replacing LED lighting, renovating the lobby, and much more.
As a result of the upgrades, the following energy efficiencies were measured:
22% ↓ reduction in energy consumption
24% ↓ reduction in carbon emissions
53% ↓ reduction in water consumption
These energy efficient retrofits, together with a successful leasing program, repositioned the building to “best-in-class.” As a result, fund investors chose to maintain their ownership of this asset for the long term.