A number of major condominium developers in Toronto are going green. These companies understand that buyers increasingly want buildings that maximize efficiency and reduce waste. Buyers prefer buildings that help them meet their personal environmental objectives and that will save them money compared to a conventional building in the long term. And committing to green also tells buyers that the builder is committed to going the extra mile, which also speaks well for the quality and long-term value of the building.

TAF Green Condo Loan

One of the major stumbling blocks for developing "green" condos has been the disconnect between who pays the upfront costs of energy improvements and who reaps the benefits of these added investments. TAF's Green Condo Loan program bridges this gap by providing financing for builders to take their structures beyond basic building code requirements. The loan, however, is actually paid back by the Condominium Corporation through the extra cash flow generated by lower utility costs. TAF pioneered the Condo Green Loan in cooperation with Tridel and has since worked with a number of other major builders.

If you would like to know more about the Green Condo Loan Program, please contact Tim Stoate, Associate Director Mandate Related Finance, 416-393-6368.

Read the Green Condo Loan FAQ

Make green energy part of the package

There are an increasing number of financially attractive green energy options available for high rises, including geothermal and solar hot water. Or you might want to consider making your gas usage much more efficient with a combined heat and power (CHP) system. Click here for more details on these options and incentives.

Taking Advantage of Incentives

Better Buildings Partnership New Construction Program

The goal of the Better Buildings Partnership New Construction Program (BBP-NC) is to have new buildings designed and built to be more energy efficient than those designed to only meet the minimum requirements of the Ontario Building Code. Eligible buildings are commercial, industrial and multi-unit residential buildings being constructed under Part 3 of the Ontario Building Code.

The BBP-NC has two parts: design assistance and constructed savings.

For design assistance, BBP-NC pays your engineering firm $2,000 + $0.20m² gross floor area up to $7,000 for developing an energy assessment.

For constructed savings, BBP-NC currently pays a peak kW incentive of $350 for each peak kW or $0.04 per annual kWh reduction that the new building saves compared to what amount of electricity the building would have used if it had been built to meet the basic requirements of the Ontario Building Code.

More details

Ontario Power Authority's High Performance New Construction Program

This program covers projects outside of the 416 area code. It provides incentives for both design and constructed savings with similar criteria to the BBP program.

There are three participation tracks:

1. Prescriptive equipment incentives and basic track (up to 25 percent) Applicant/owner incentives of $250 per kilowatt (kW) are available.
2. Advanced track (26 to 50 percent) Applicant/owner incentives of $300/kW and architect incentives of $50/kW are available.
3. High-performance (HP) track (greater than 50 percent) Applicant/owner Incentives of $400/kW and architect incentives of $100/kW are available.

More info on: Programs, Incentives, Rebates for the Commercial Sector or Incentives for Builders and Architects

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