Capturing Value in Toronto’s High-Rise Multifamily Towers with Sustainable Retrofits

Wednesday, May 13, 2020 09:30 AM – 10:30 AM Special Programming
Open to All Attendees

In February 2020, ULI hosted an Advisory Services Panel in Toronto to determine how the public and private sector can work together to drive the sustainable redevelopment of the city’s approximately 1,000 multifamily high-rise towers. Often overlooked for investment, the buildings are currently inefficient, uncomfortable for tenants, and sometimes unsafe. However, there is huge potential for real estate to add value to these buildings while also helping the city provide safer affordable and workforce housing, local job opportunities, and key resources for residents (including transportation and retail/grocery). To solve this challenge, panelists determined the most cost effective strategies for achieving deep retrofits to these towers, how to finance the investments, whether there are any policy tools to incentivize the market, and how these investments in energy efficiency can also support the city’s resilience, social equity, and affordable housing goals. For this session, experts that participated in the panel will provide an overview of their recommendations for the local market and outline how they can be a model for the rest of Canada.