Energy Savings a Key to Calgary Building Redevelopment
An office tower in downtown Calgary is getting a face lift in order to attract tenants – and energy savings are a key element in reversing its fortunes. The 11-story 121,000 square foot building is owned by 300 shareholders in a limited partnership, according to The Calgary Herald.
The structure, which is the former NC Lavalin building at 5th Avenue and 8th Street S.W., is to be upgraded from Class B to Class A. The goal is to succeed in a city in which the downtown vacancy rate grew from 6.1 percent to 11.4 percent between the second quarters of 2014 and 2015.
The redevelopment work is to be completed by the end of September. Building management said that an ace in the hole is that the energy efficiency of the building is 25 to 30 percent greater than other buildings in its class, which leads to a savings of about $5 per foot in operating costs. The redevelopment project could increase the operational savings to $8 per foot.
The savings in operational costs cited by the retail executives are in line with Environmental Protection Agency estimates, which are that recommissioning buildings can lead to cost reductions of 8 percent to 20 percent.
- Four Key Questions to Ask Before Your Next Energy Purchase
- Advanced Rooftop-Unit Control (ARC) Retrofits: Field Demonstrations Validate Energy Savings
- Strategies for a Successful EHS&S Software Selection
- eBook: Five Key Considerations for Integrating Renewables into Your Procurement Strategy
- The New Energy Future - Challenges and Opportunities in Corporate Energy Management
- 2016 Environmental Leader Product & Project Awards
- The Missing Puzzle Piece: Automated Utility Data Aggregation
- 10 Tactics of Successful Energy Managers
- Shifting the Focus from End-of-Life Recycling to Continuous Product Lifecycles
- The Corporate Sustainability Professional's Guide to Better Data Management