There are many forces molding and transforming Canada and its property and investment landscape. One of the most significant and exciting trend in the Canadian real estate market are environmentally-friendly buildings.
Both Calgary and Edmonton are seeing substantial increases in sustainable infrastructure. For example, councilors were recently voting for a $632 million redevelopment plan for the former City Centre Airport site in Edmonton.
Environmentally-friendly buildings are becoming somewhat of a status quo now, becoming increasingly desirably among consumers and investors.
The Urban Green Council projects green building ventures will grow by another $23 billion dollars by 2015, up $45 billion from 2013.
International data also shows green buildings can fetch up to 20 per cent more in rent compared to non-green buildings. It's estimated that a 10 per cent reduction in energy costs could add $500,000 to the asset value of some commercial buildings.
Furthermore, in some areas tax breaks for green infrastructures can offer savings as high as 75 per cent.
With such positives attributes, it's a good thing most Canadian cities are embracing this sustainable and environmentally-friendly movement.