Executing Decarbonization Through Capital Planning to Enhance Long-Term Asset Performance

Overview

The Milverton Complex is a 414,000 square foot, three-building office asset in GTA West, comprising 100 Milverton Drive and 90 and 110 Matheson Boulevard West. The LEED O+M Gold-certified complex demonstrates strong performance across energy efficiency, indoor environmental quality, and transportation access. With key mechanical systems approaching renewal, Crown identified an opportunity to align capital replacement with a forward-looking decarbonization strategy, positioning the asset for its next phase of performance and competitiveness.

Strategy

Crown’s approach focused on building long-term resilience through well-timed, practical retrofits. Leveraging its vertically integrated platform, Crown aligned sustainability, operations, construction, and asset management to coordinate decarbonization planning with capital cycles, tenant expectations, and leasing strategy.

At Milverton, this included identifying and prioritizing retrofit measures that could be implemented alongside end-of-life equipment replacements, minimizing disruption and incremental capital costs. The strategy emphasized operational efficiency improvements, reduced transition risk, and alignment with tenant demand for recognized sustainability certifications and credible decarbonization pathways. Available utility incentives were incorporated to further enhance project feasibility and returns.

Results

In 2024, Crown completed a comprehensive decarbonization plan for the Milverton Complex, identifying phased retrofit opportunities capable of reducing greenhouse gas emissions by more than 60%. The initial phase focuses on operational enhancements and targeted system upgrades, including advanced controls to reduce energy consumption from ventilation, fans, motors, and pumps, as well as improvements to overall energy performance and heating load optimization.

These measures are designed to integrate with planned capital replacements, limiting incremental cost while preparing the asset for deeper future retrofits, including electrification. Through this approach, Crown is strengthening the Complex’s long-term resilience, improving its compliance outlook, and enhancing its appeal to institutional-quality tenants seeking high-performance, lower-carbon office environments