The up front costs ofgreen buildingare high. Not only are the technologies cutting edge, offering building owners the promise of saving money on energy use down the track, but in most cases, the higher the green rating, the higher the overall standard of the building.
While this can certainly be challenging to developers, the results of developing in this way are continuing to roll in, with those in control of the buildings more than gaining back their up front investment in the long term.
This kind of future thinking could be the reason that Oxford Properties are willing to invest $400 million into what will become Toronto’s first everLEED platinum-rated office building.
At 930,000 square feet, that investment is hardly small, but it is one the developers are willing to make in order to outdo their LEED goal and gain Platinum recognition.
“We take pride in operating and developing our towers to the highest standards and our commitment here is certainly no exception,” said Oxford Properties president and chief executive Blake Hutcheson.