Skip to main content

Avenue Living Energy Retrofits

Green Infrastructure
Alberta and Saskatchewan
$130 million (financial close)
Avenue Living

Energy efficient retrofits towards multi-unit residential buildings

Investment will optimize building performance and decrease carbon emissions.

Fast facts

Facilitate energy efficiency at scale in the multi-unit residential sector
Optimize energy performance in more than 6,400 residences
Significantly reduces greenhouse gas emissions by approximately 50%

Our investment with Avenue Living, an owner and operator of properties primarily in western Canada’s prairie provinces, will enable retrofits at approximately 95 properties representing 240 buildings. The buildings are predominantly low-rise, walk-up style, multi-family rental apartment buildings.

Avenue Living is committed to reducing greenhouse gas emissions and improving resident experiences by implementing energy efficiency measures, focusing on mechanical and electrical upgrades, new windows and doors, roof insulation and rooftop solar.

Our Building Retrofits Initiative provides upfront financing of building retrofits to create jobs, long-term energy savings and a low-carbon future.

Benefits of CIB Involvement

Our team works with large private sector real estate owners and retrofit aggregators on customized plans to modernize and improve the energy efficiency of existing buildings.

Our investment will help finance a portion of the upfront capital costs of the retrofits. Once the repayment is complete, Avenue Living will benefit from 100% of the long-term savings achieved through the retrofits.

Learn more

The Avenue Living Southwood Village site, planned for energy retrofits
The Avenue Living Glengrove Manor site, planned for energy retrofits
The Avenue Living Borden Place site, planned for energy retrofits
Avenue Living Group

With over 90 per cent of Canada’s rental universe built before 2000, Avenue Living is excited to be a pioneer in retrofitting these older units. We are eager to set a new standard and enhance green infrastructure programs for the entire industry – for years to come. The work that we are doing with CIB represents nearly 50 per cent of Avenue Living’s overall portfolio. By 2027, we have the vision of completing 100 per cent of our growing Canadian portfolio, continuing to positively impact the communities we serve.

Anthony Giuffre, Chief Executive Officer