looks at the "greening" of Toronto's financial core. In addition to a surge in the construction of new sustainable office towers, many iconic Toronto buildings—from First Canadian Place to the TD Tower—are in the midst of massive "green" refurbishments.
"A number of Toronto’s landmark bank towers are now swaddled in scaffolding as they undergo a combined $300 to $400 million in refurbishments that include everything from updating their aged food courts to, in the case of First Canadian Place, replacing its almost 40-year-old marble façade."
"'The trophy towers are getting to that 30- and 40-year-old mark so they are hitting the gym again, so to speak, and getting into shape because they realize they aren't the only game in town anymore,' says John Peets, vice president of leasing for Oxford Properties."
"Oxford, the real estate arm of the OMERS pension fund, announced in October that it's teaming up with the Canada Pension Plan Investment Board to do what would have been unthinkable a decade ago. They're building a 30-storey office tower between Bay and York Sts. that will become the new domestic banking headquarters for the Royal Bank of Canada."
"Most of the renos are aimed at helping the financial towers, the first of which was built in the 1960s, achieve so-called LEED certification—an internationally recognized acknowledgement that the building is energy efficient and environmentally sound."
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original source Toronto Star