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HVAC replacement at the Kanata office building delivers a zero-carbon building – Performance Standard™ certification

OTTAWA, May 29, 2024 (GLOBE NEWSWIRE) — Colonnade BridgePort, a leading full-service real estate investment and management company, together with building owner Fiera Real Estate, recently completed the replacement of the gas-powered HVAC system at 450 March Road with electric resistance heaters, virtually eliminating carbon emissions and achieving Zero Carbon Building – Performance Standard certification from the Canada Green Building Council.

The complex project on the five-storey building of 97,500 m². Construction involved more than 18 months of planning, with the removal and installation of the roof units successfully completed in July 2023. Analyzing the results during the summer and winter months, calculations show that CO2 emissions are reduced by approximately 94 tons annually.

“Colonnade BridgePort is committed to working with clients to achieve sustainability goals for their properties,” said Vice President of Innovation, ESG and Advisory Services Brandon Malleck. “We are incredibly proud to have been part of such an environmentally important achievement at 450 March Road. Congratulations to Fiera Real Estate for their efforts to make their buildings more sustainable for future generations.”

With project objectives to develop an HVAC system that uses no gas, recovers heat energy and requires minimal roof space; as well as several key considerations, including electrical and structural capacity, contractor selection and impact on tenants; Colonnade BridgePort leveraged more than 35 years of commercial real estate expertise to ensure every phase of the project was executed seamlessly.

“Eliminating fossil fuels from heating systems is a fundamental part of our journey to decarbonize the economy and this project moves the Fiera Real Estate CORE Fund towards its goal of net zero emissions by 2040. These projects are only made possible through collaboration with our property managers.” says Jag Singh, director of sustainable investing at Fiera Real Estate.

The significant reduction in greenhouse gas emissions earned 450 March Road a Zero Carbon Building – Performance Standard certification – an award for buildings that are highly energy efficient and minimize greenhouse gas emissions from building materials and activities. The building is also BOMA Best Sustainable certified.

View the project case study and video here.

About Colonnade BridgePort

Colonnade BridgePort is a full-service real estate company offering property management and leasing services, acquisition, development, investment management and asset management for commercial and residential real estate. We take the time to understand our clients’ objectives and then apply our real estate expertise and market knowledge to drive better performance. Colonnade BridgePort is headquartered in Ottawa with offices in Mississauga, Toronto, Dartmouth and Fredericton. colonnadebridgeport.ca

About Fiera Vastgoed

Fiera Real Estate is a leading investment management firm with offices in North America and Europe and a team of more than 100 employees. The company manages more than C$9.4 billion in commercial real estate worldwide through a range of funds and accounts as of March 31, 2024. The highly diverse nature of its portfolio – geographies and asset types – combined with a range of high-quality strategies provides investors with opportunities to diversify their exposure and customize their investment experience within the real estate asset class. Fiera Real Estate is wholly owned by Fiera Capital Corporation, a leading independent asset management firm with more than C$165.2 billion in assets under management as of March 31, 2024. ca.fierarealestate.com

About Canada Green Building Council

The Canada Green Building Council supports the construction industry’s transition to green buildings. Green buildings are powerful tools for positive change. By unlocking the value and potential of green buildings, Canada’s real estate sector can significantly reduce carbon emissions, eliminate environmental impact, future-proof assets and contribute to healthier and more resilient communities. CAGBC partners with Canada’s real estate and construction industries to provide the market insights, expertise and practical solutions they need to drive their sustainability efforts further and faster. cagb.org

Media contact
Rachal Fleury
Manager, Marketing and Communications
(email protected) | 343.633.5129

Revelation

The information presented is for informational purposes only and is not intended as, and should not be construed as, an offer to sell any investment product, or a solicitation of an offer to buy. The information contained herein, in whole or in part, does not constitute investment, tax, legal or other advice, nor does it take into account the investment objectives or financial circumstances of any investor.

This document may contain “forward-looking statements” that reflect the current expectations of Fiera Capital and/or its affiliates. These statements reflect current beliefs, expectations and assumptions regarding future events and are based on currently available information. Although based on what Fiera Capital and its affiliates believe to be reasonable assumptions, there can be no assurance that actual results, performance or achievements will be consistent with these forward-looking statements. Fiera Capital and/or its affiliates undertake no obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2e1aed38-7f66-4186-aa84-06d3a5205f9b

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