TORONTO, June 14 /CNW/ - Toronto's Commerce Court, owned by the British Columbia Investment Management Corporation (bcIMC) has received the 2010 Earth Award in the Office Park Category and the BOMA BESt Level 3 Certification from the Building Owners and Managers Association of Greater Toronto (BOMA) Toronto. These awards are given in recognition of environmental leadership in the building industry.
Situated at King and Bay, Commerce Court is located in the heart of Toronto's financial district. The four building 4-acre, 2-million square foot office complex is rich in tradition with the historical Beaux-Arts jewel, Commerce Court North, surrounded by three modernist structures, including the iconic, stainless steel, Commerce Court West tower all designed by internationally renowned architect, I.M. Pei, one of the most influential architects of the modern era.
"A priority is establishing an ongoing environmental leadership position for Commerce Court. We were delighted to learn that our prudent but progressive approach to capital investments and sustainable initiatives has resulted in us achieving this recognition, says Chuck Swanson, Vice President, Real Estate, bcIMC. "Today, Commerce Court offers a comfortable and environmentally-friendly environment, and we applaud our tenants for their efforts in helping to make this happen."
Commerce Court has introduced energy conservation measures such as upgrading to a new state-of-the-art tenant metering system, which has resulted in a 5% reduction in energy consumption or 1,350,000 KwH saved each year. In addition, the tenants have also been instrumental in achieving an 84% waste diversion rate or the equivalent of 41,000 tonnes of waste diverted from landfill sites. These measures together with upgrades to the lighting, heating and electrical power conditioning systems and the innovative Deep Lake Water Cooling System have contributed to Commerce Court's success in energy conservation. The Deep Lake Water Cooling System was installed in 2005 and continues to save an average of 6,768,911 kwh per year or 11% of the building total energy consumption.
For tenants, the sustainability initiatives lead to greater comfort and cost savings with respect to energy consumption. Improved comfort controls and enhanced functionality contribute to overall tenant satisfaction.
The BOMA Earth Award is the most prestigious and comprehensive program of its kind in the commercial real estate industry, recognizing excellence in environmentally sound office building management. BOMA BESt Level 3 Certification is a rigorous, progressive certification program that recognizes achievements in energy and environmental performance.
Commerce Court is managed by GWL Realty Advisors, a leading real estate investment advisor, providing comprehensive asset management, property management, and specialized real estate services to pension funds and institutional clients.
Commerce Court is owned by British Columbia Investment Management Corporation (bcIMC). bcIMC is an investment management corporation based in Victoria, B.C. With $80 billion in assets under administration with global exposure, and supported by industry-leading investment expertise, bcIMC offers fund management services for all major asset classes, including currency and infrastructure investment. bcIMC's clients include public sector pension plans, provincial government operating and sinking funds, public trusts, and insurance funds. For more information, visit www bcimc.com.
About BOMA Canada
BOMA Canada's Mission is to represent the Canadian commercial real estate industry on matters of national concern, to develop a strong communications network between its local associations, BOMA International and other real estate associations and to promote professionalism of its members through education programs and effective public relations activity. BOMA BESt stands for Building Environmental Standards and in addition to providing building owners and managers with guidelines for responsible, sustainable management policies and practices, also serves as an accepted industry standard for evaluating a property's sustainable progress in comparison with the industry as a whole.
SOURCE GWL Realty Advisors Inc.
For further information: For further information: on bcIMC: Gwen-Ann Chittenden, Tel: (250) 387-4650 or via email: firstname.lastname@example.org; For further information on GWL Realty Advisors: Michele Walkau, Tel: (416) 552-5143 or via email: email@example.com