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2020 Sustainability Progress Report

2020 Sustainability Progress Report

We are pleased to present the 2020 Sustainability Progress Report. In such difficult and unprecedented times, Canderel remains committed to sustainable practices that have a positive impact on our environment and our communities.

This report reflects our efforts to support the evolving needs of the communities in which we operate. In 2020, we continued to leverage innovative solutions to address the unique challenges our industry/communities are facing today. Canderel remains focused on integrating environmental, social and governance aspects into our activities to promote a better future for our industry, our community, and our people. 

Click here to download the report. 

Click here to learn more about Canderel’s sustainability achievements. 

Canderel acquires prime re-development site in Lougheed Town Centre area in Burnaby, BC

Canderel acquires prime re-development site in Lougheed Town Centre area in Burnaby, BC

Transit-oriented residential and commercial re-development

 

Canderel is pleased to announce the purchase of 3965 North Road, a 57,000 sq. ft. site located at the southwest corner of North Road and Austin Road in the Lougheed Town Centre area in Burnaby, BC. Development plans include two residential towers on a commercial podium.

3965 North Road is a transit-oriented location adjacent to The City of Lougheed Shopping Centre and the Lougheed Town Centre SkyTrain station, connecting multiple SkyTrain lines including the Expo, Millennium and Evergreen Lines and major road networks. North Road serves as an arterial route traveling north and south directions to the cities of Coquitlam, Port Moody and New Westminster. Locally run businesses on North Road, including retail, restaurants and cafés, are also within walking distance.

“The acquisition of 3965 North Road is an exciting opportunity to be a part of the Lougheed Core Area’s transformation into a vibrant neighbourhood,” says Bryce Margetts, VP Western Canada, Canderel. “We are very excited to be working on the re-development of this site to support the evolving needs of this neighbourhood.”

In addition to Canderel’s hyperlocal awareness of community needs, they bring proven expertise with multi-phased mixed-use projects in tight urban pockets. This includes DNA on King West, award-winning Residences of College Park at Bay and College, which includes a 1.9-acre park, and the master planned Tour des Canadiens in downtown Montreal. Canderel is also launching Luxe, a mixed use residential office project in partnership with Townline Homes in Richmond with sales beginning summer 2021.

Canderel will be working on the rezoning process with the City of Burnaby and the designs for the residential buildings and commercial podium in the coming months.

Click here to connect with us, if you would like more information about our investment management services, project and development services or for general inquiries.

Canderel acquires prime corner of Bathurst and St. Clair, expanding their neighbourhood-focused approach for Toronto

Canderel acquires prime corner of Bathurst and St. Clair, expanding their neighbourhood-focused approach for Toronto

Master-planned block to include new public park and daycare

 

Building off the momentum of Canderel’s St.Clair Village, currently under construction at 900 St. Clair West, Canderel is pleased to announce the purchase of 490 St. Clair Avenue West, a 1.91 acre site located at the northeast intersection of St. Clair Avenue West and Bathurst Street in mid-town Toronto. Development plans include three residential towers, retail at-grade, a new public park and a daycare.

490 St. Clair West is a transit-oriented location adjacent to a major Loblaw’s supermarket and St. Clair West Subway, connecting commuters to the Financial District in less than 12 minutes. With an east-west dedicated streetcar route right outside its door, it is also a gateway intersection to many of Toronto’s most coveted ravine trails and neighbourhoods, such as Forest Hill, Cedarvale, and Wychwood. Locally run businesses on St. Clair West, including retail, restaurants and cafés, are also within walking distance.

“The acquisition of 490 St. Clair West is a fantastic opportunity to revitalize a prominent corner that has been vacant for many years,” says Ben Rogowski, COO, Canderel. “We are excited about the potential of this site because we will be able to build a complete community in a part of the city we are already working in and know quite well. With increasing demand for public outdoor spaces and childcare, we look forward to working with the city and agency partners to create amenities that support the evolving needs of this neighbourhood.”

In addition to Canderel’s hyperlocal awareness of community needs, they bring proven expertise with multi-phased mixed-use projects in tight urban pockets. This includes DNA on King West, award-winning Residences of College Park at Bay and College, which includes a 1.9-acre park, and the master planned Tour des Canadiens in downtown Montreal.

“The look and feel of the retail and public spaces, and how they are integrated into the urban fabric is going to be a very exciting improvement to this vital intersection. Our vision for this site is that it becomes a new community hub, serving the needs of the communities that live in and around St. Clair West,” says Rogowski.

With the site already zoned, Canderel will be working on updated designs for the residential buildings and retail in the coming months. KingSett Canadian Real Estate Income Fund LP will be contributing a portion of the debt financing to the project continuing its long standing relationship with Canderel, bringing some of Toronto’s most exciting projects to life.

Click here to connect with us, if you would like more information about our investment management services, project and development services or for general inquiries.

Brett Miller discusses main issues and challenges facing Covid-19 for the office building market

Brett Miller discusses main issues and challenges facing Covid-19 for the office building market

Canderel CEO Brett Miller joined other industry experts to discuss main issues and challenges facing Covid-19 for the office building market as part of a panel discussion hosted by the Studio IDU and moderated by Marie-France Benoit, Senior Director of Strategic Development at Group Altus.

Click here to view (in French only) this timely and interesting panel discussion featuring several industry expert panelists:

Brett Miller – CEO, Canderel 

Pierre Charest – Senior Vice President, Colliers International 

Raynald Lachance – Vice President, Property Management, BentallGreenOak

This panel discussion touches on the various panelist views on the current situation for the office sector, the challenges that have been faced over the past months and trends they see emerging from or being accelerated by the COVID-19 pandemic. 

Click here to get in touch with our team of experts and learn more about the protocols and initiatives that Canderel has put in place in our office spaces during the COVID-19 crisis.

 

Canderel’s College Park Community Wins the BILD Award for Best New Community (Built)

Canderel’s College Park Community Wins the BILD Award for Best New Community (Built)

On September 17th, 2020, Canderel was awarded the BILD Best New Community (Built) Award for The Residences of College Park community in downtown Toronto.  

The Residences of College Park 

The Residences of College Park is a master planned community centrally located in downtown Toronto, seconds from some of the best shopping, dining and entertainment in Canada (including the Eaton Centre, Yonge Street and Yorkville) and well placed in relation to transit and top educational institutions. The community is made up of four high rise residential towers close to a 1.9-acre park, College Park. College Park is a tranquil escape tucked away from the hustle and bustle of the surrounding streets. The park design process was part of a place-making initiative that involved adjacent businesses, residents and other stakeholders. It is the second largest park in downtown Toronto after Allan Gardens. As an urban oasis, it features gardens, green space, sculptures, a water fountain, outdoor seating, a playground and reflecting pool. The signature piece, is a 5-metre wide circular path that becomes an ice trail in winter, named after Canadian Olympic and World skating champion Barbara Ann Scott. Canderel acquired over 8.5 acres of land to complete this community. With development launching in 2002 and finishing in 2019 following the completion of YC Condos, this community has added a total of 2856 condominium units to Toronto and over 225,000 square feet of retail space.

Pillar 1 & 2 – College Park I and II

The Residences of College Park I and Residences of College Park II are situated at Bay and College, one of Toronto’s busiest intersections. They command an enviable location in the very heart of Toronto, Canada’s most cosmopolitan and affluent city. The Residences of College Park I and II launched in 2002 and 2004 respectively. Inspired by the heritage of Art Deco buildings in the area, the vision translated into 51 and 45 storey towers clad in limestone and granite, with a row of gracious townhomes at the base, totalling 1222 units. At the time, Residences of College Park II was the fastest selling project in the city. Canderel and Tricon Capital partnered on this development.

Pillar 3 – Aura at College Park

Aura at College Park, the infamous 80 storey tower, is the tallest residential building in Canada and the 25th tallest residential building in the world with a total of 995 suites. The granite and glass-clad podium is home to 180,000 square feet of amenities, shopping, restaurants, and services including Aura Fitness, a 42,000-square-foot fitness facility, retailers Marshalls and Bed, Bath & Beyond and three restaurants serving an array of delicious cuisine. Aura also holds a record in sales for a single tower, achieving over 700 sales in one month. Considering it was launched in 2008 during the financial crises, these record sales are testament to Aura’s landmark design, quality and a well executed sales and marketing campaign. Aura was developed as a partnership between Canderel and KingSett Capital.

Pillar 4 – YC Condos

YC Condos, launched in 2014, is located at the corner of bustling Yonge and College. Standing 66 stories, YC is another architectural icon for the city. After breaking sales records at Aura, Canderel wanted to continue to push the envelope. The building’s glamorous geometric architecture and luxurious amenities re-energize the skyline. The pièce de résistance is Aqua 66: the highest infinity pool in the Western hemisphere. Situated on the 66th floor, the top floor of the building, the 4,415 square foot facility has a 60-foot pool. It is an architectural and design marvel. After our residents’ swim they can lounge on the floating platform and let the lush greenery and stone sculptures frame the magnificent breathtaking South views from this island in the sky. The only pools that compare are The Ritz Carlton in Shanghai Pudong, The W Hotel in Guangzhou, and The Marina Bay Sands in Singapore: all contributing to YC Condos’ world class architecture. The uniqueness of YC Condos resulted in the sale of all 639 suites before construction began. In addition, YC Condos was granted  the 2015 BILD Award for High-Rise Project of the Year. Graziani Corazza Architects Inc. were the architects on record for all 4 pillars of the College Park neighborhood. YC Condos was also developed as a partnership between Canderel and KingSett Capital.

777 Bay Office Tower

Adding to this growing community, in 2006, Canderel acquired  777 Bay St., a 30-storey a Class A, LEED Certified, 915,000 s.f. office tower with over 900 parking stalls and 70,000 sq.ft. of retail space. This acquisition perfectly matched Canderel’s vision of having a mixed-use community in the heart of the City. Including 777 Bay, this masterplan community totals over 4 million s.f. for a total investment value that exceeds $1.5 billion. Canderel, Bimcor and TD Greystone are currently partnered on this project.

BILD

BILD, the Building Industry and Land Development Association, represent over 1,500 company members made up of land developers, home builders and renovators, in the Greater Toronto Area. 

The Best New Community (BUILT)

Every year, the Building Industry and Land Development Association presents the BILD Awards. This annual award competition serves to recognize notable projects and developers, in the GTA, for their work in relation to various project aspects, including but not limited to design, construction and sales & marketing. Launched in 1980, this year marked the 40th edition of the awards.

The Best New Community (Built) is awarded to the creators of an already built community. The contenders for the years award were:

We are thrilled that The Residences of College Park was awarded the Best New Community (Built) award, especially when up against such steep competition. 

Click here to connect with us, if you would like more information about our investment management services, project and development services or for general inquiries.

Canderel Is Proud to Announce That Constitution Square Has Achieved a Milestone in Its Property Management in Ontario

Canderel Is Proud to Announce That Constitution Square Has Achieved a Milestone in Its Property Management in Ontario

Constitution Square becomes the first office complex in Ottawa to receive a Fitwel certification. With this latest certification, Constitution Square is now triple certified with LEED Platinum, Wired Certified Gold and Fitwel.

Fitwel

Fitwel is an independent commercial building rating system that evaluates buildings on how well its owners and property managers are endorsing and encouraging occupant health & well-being. This is a result of a joint initiative between the U.S. Centers for Disease Control and Prevention (CDC) together with the General Services Administration (GSA).

The certification, from the Center for Active Design (CfAD), showcases the value-add approach Canderel brings to property management. With an aim to add value to the building community – this means being invested in the health and safety of our tenants and occupants and staff. The COVID-19 crisis has proved to be a time where the underlying commitment to tenant health and safety is crucial for property managers around the world.

In awarding this certification, Fitwel highlighted the motivational signs placed in the staircases within the entire 3-tower complex as well as the exemplary cleaning protocols that are so critical during the COVID-19 crisis. These initiatives were implemented to both promote physical activity of the tenants and increase and ensure safety. This certification reflects our investment as commercial property managers to the comfort, protection & wellbeing of those who work and live in the commercial real estate we manage.

LEED® Certification

In addition to the Fitwel Certification, Constitution Square renewed its LEED® Platinum certification for existing buildings. LEED® (Leadership in Energy and Environmental Design) is the primary rating system in the world for sustainable buildings. It enhances efficiency, ensures cost savings and reduces health issues. This certification underscores Canderel’s dedication toward operational excellence and the management of sustainable buildings in which to work and live.

Wired Certified

Wired certification is another goal for many property management companies and real estate investors in Ontario. This is the only rating system for commercial buildings that evaluates access to high quality internet connectivity and the likelihood of interruptions or loss. The certification is currently only available to commercial and industrial buildings.

In today’s world, digital connection is of critical importance. As a property manager, the building should have the availability of multiple service providers who operate under various cabling, including fiber.

All three buildings within the Constitution Square Complex are Wired Certified Gold. With this high certification level, our tenants can expect exceptional access to broadband providers with choices for their ISP service. It also affirms the security measures taken and the appropriate physical distribution of fiber to current and future occupants.

Taken together, the Fitwel, LEED® and Wired certifications reinforce Canderel’s expertise as property managers in Ontario and value add approach to property management. We take our position as property managers and property owner-partners seriously and bring an outstanding level of responsibility to the community in the areas of technologic, safety, cleanliness, and environmental stewardship.