Green retrofits heat up Canadian real estate market

Faced with competition from new office space which will be LEED accredited, many Toronto landlords are retrofitting their office buildings in an attempt to remain competitive. Landlords and building managers are responding to both increased tenant interest in a buidings environmental performance and energy and operation savings. Toronto currently has more retrofitting in its downtown core than in other parts of Canada because of the large amount of new office space being built. These retrofits will be linked to the new LEED Canada for Existing Buildings: Operations and Maintenance (LEED EBOM) certification which will was introduced this summer by LEED Canada. According to research by Pike Research, the retrofit market is expected to experience strong growth in 2013 and beyond. For the full story, click here.