PUBLIC-PRIVATE PARTNERSHIP PROJECT BY MONARCH CORPORATION AND TORONTO
ECONOMIC DEVELOPMENT CORPORATION (TEDCO)
TORONTO, June 11 /CNW/ - Construction began today on Canada's largest
green low-rise residential development.
Called Evergreen, the $100+ million project is a joint development by
Toronto-based Monarch Corporation and the Toronto Economic Development
Evergreen offers environmentally-friendly homes built to the
highly-regarded and third party verified LEED-H green building rating system
in Toronto's Midland and St. Clair area. This sustainable project to be built
by Monarch demonstrates how a green residential community can be economically
viable, marketable and used as a model in the greening of the home building
process. First occupancies are set for later this year.
The total combined development area equals nearly 24 acres and will
eventually be a mix of 206 town homes and single-family homes. Announced in
October 2007, this is the first time that TEDCO, the City of Toronto's urban
development corporation has partnered with a residential builder. Founded 91
years ago in Toronto, Monarch Corporation is one of Canada's oldest and most
successful home builders.
Said Brian Johnston, President, Monarch Corporation, "We believe this
project represents two elements critical to addressing global climate changes
in a housing context. Evergreen is not a showcase project, funded by
government, the likes of which will never be seen again. It is repeatable and
we expect to educate ourselves and the wider building community in LEED-H
Jeffrey Steiner, President & CEO, TEDCO added, "This development shows
how the public and private sector can work together to achieve objectives
critical to the City of Toronto such as climate change. We also believe that
the industry understands that sustainable development makes both economic and
environmental sense and is increasingly open to such public/private
partnerships, which we will continue to explore."
TEDCO and Monarch Corporation will work with the City of Toronto to test
the new techniques through this project and report back to the City on the
Toronto Green Development Standard.
LEED-H stands for Leadership in Energy and Environment Design for Homes.
By adopting the rating standard for this initiative TEDCO and Monarch
Corporation are demonstrating to the public and the industry what can be
achieved in pursuit of sustainable development.
As the market for green buildings has had significant growth in recent
years, LEED has become the most recognized green building rating system across
ABOUT MONARCH CORPORATION
Multi-award-winning Monarch Corporation, is the Canadian subsidiary of
one of the world's largest home builders, Taylor Wimpey plc. Monarch has been
building homes for 70 years, with a focus in the Greater Toronto area, Ottawa
and Kitchener-Waterloo. As a member of the Canada Green Building Council,
Monarch is committed to developing a greener lifestyle in its communities.
ABOUT THE TORONTO ECONOMIC DEVELOPMENT CORPORATION (TEDCO)
The Toronto Economic Development Corporation is the principal
redevelopment corporation for the City of Toronto focused on commercial,
industrial and mixed-use projects. It is a major landowner across the city and
its activities include real estate development, property leasing,
environmental management and economic development initiatives. TEDCO was
incorporated in 1986 and operates as an arm's-length entity from its sole
shareholder, the City of Toronto.
For further information:
For further information: MONARCH: Wendy Petcoff/Beth Merrick, The
Communications Group Inc., (416) 696-9900 x 29/40,