The Canadian government has earmarked $5.75M in grants and loans to conduct “deep energy retrofits” within four multi-residential buildings in Toronto and Hamilton.
The funds come from the Federation of Canadian Municipalities’ Green Municipal Fund. They will be used to support a project by The Atmospheric Fund (TAF) to retrofit heating, cooling, and lighting systems and facilitate energy and water-saving measures within four residential buildings. They include Toronto’s Palace Place Condos at Palace Pier Court, an apartment complex at 155 Wellesley Street E. apartment complex, and two community housing buildings at Walpole Avenue and Lynden Avenue, respectively.
“I am pleased that the federal government has come forward with funding towards this important project,” said John Tory, Mayor of the City of Toronto. “Investing in green infrastructure will positively impact the lives of residents and the environment. Future retrofits helped by this new investment will ensure that we are addressing climate change and reducing our carbon footprint as a city.”
The energy retrofits are slated to reduce energy consumption within the buildings by 40%, as well at reduce energy bills and enhance resident comfort. They are part of the City of Toronto’s TransformTO Climate Action Strategy, which seeks to reduce greenhouse emissions within the region by 80% by 2050.
“With nearly half of the urban carbon emissions associated with buildings, we need practical, commercial-scale approaches to achieve deep energy retrofits,” said Julia Langer, Chief Executive Officer of The Atmospheric Fund. “This strategic federal investment will do just that, and demonstrate the financial, environmental, and social benefits.”