Monarch Corporation and Toronto Economic Development Corporation (TEDCO) to Develop Largest Low-Rise Green Development in Canada



    TORONTO, Oct. 24 /CNW/ - The Toronto Economic Development Corporation
(TEDCO) and Monarch Corporation announced today that they will develop the
largest low-rise green residential community in Canada. The $100 million
project will be a joint development between the two corporations and Monarch
Corporation is the builder.
    The new development, called Evergreen, will offer environmentally
friendly homes built to the new LEED-H standard in Toronto's Midland and St.
Clair area. The goal of the project is to demonstrate how this kind of green
residential community can be economically viable, marketable and used as a
model in the greening of the home building process.
    The total combined development area will equal close to 24 acres and will
eventually encompass a mix of 196 town homes and single-family homes. This is
the first time TEDCO, whose business is focused on commercial, industrial and
mixed-use projects, has partnered with a residential builder. Monarch
Corporation is one of Canada's oldest and most successful home builders. TEDCO
and Monarch Corporation will work together with the City of Toronto to respond
to the Toronto Green Development Standard. By having Evergreen as a pilot
project, the City of Toronto will set an example for other municipal
governments in working with the industry to help address global climate
change.
    The market for green buildings has grown significantly over the past few
years and LEED has become the most recognized green building rating system
across North America. LEED-H is a recently developed rating and stands for
Leadership in Energy and Environment Design for Homes. By adopting the
standard for this initiative TEDCO and Monarch Corporation will demonstrate to
the industry and to the public what can be achieved in pursuit of sustainable
development. First occupancies are scheduled for late 2008.
    "TEDCO is committed to environmental sustainability in all of its
development activities," said Jeffrey Steiner, President & CEO, TEDCO. "This
is a wonderful opportunity for the City of Toronto to showcase the greening of
the home building process with our private sector partner. We are delighted
that Monarch took up our challenge and shares our vision of greener low-rise
development."
    "Evergreen is a remarkable community in many ways," says Brian Johnston,
President of Monarch Corporation. "We are pleased to work with TEDCO to turn
this well located infill site into a vibrant residential community that is
close to amenities, will use less energy, create healthier indoor and outdoor
living environments, and illustrate to homeowners the value of green
buildings."

    Multi-award-winning Monarch Corporation is the Canadian division of the
world's largest home builder, Taylor Wimpey plc. Monarch has been in business
for 90 years, and 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.

    The Toronto Economic Development Corporation is the principal
redevelopment corporation for the City of Toronto and a major landowner across
the city. TEDCO's mandate is to work closely with its shareholder and partners
to aggressively and creatively pursue business, employment and development
opportunities. TEDCO operates as an arm's-length entity from its sole
shareholder, the City of Toronto.





For further information:

For further information: Eva Varangu, Director, Communications & Public
Affairs, Toronto Economic Development Corporation, (416) 981-3869,
evarangu@tedco.ca, www.tedco.ca; David Eisenstadt, Beth Merrick, The
Communications Group Inc., (416) 696-9900 ext. 36, 40, deisenstadt@tcgpr.com,
bmerrick@tcgpr.com, www.monarchgroup.net

Organization Profile

TORONTO ECONOMIC DEVELOPMENT CORPORATION (TEDCO)

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MONARCH CORPORATION

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