Canderel Management Inc.

Canderel Management Inc.

August 14, 2014 11:03 ET

777 Bay Street Achieves Leed® Gold Certification

TORONTO, ONTARIO--(Marketwired - Aug. 14, 2014) - Canderel is proud to announce that 777 Bay Street, located in Toronto, has achieved LEED® Gold certification under the Existing Buildings: Operations & Maintenance program presented by the Canada Green Building Council.

Attaining LEED® Gold certification is a testament to the long-term vision towards sustainability that Canderel has adopted at 777 Bay Street since 2006. Energy efficiency measures include the implementation of Deep Lake Water Cooling to replace chillers, the installation of high-efficiency boilers, high-efficiency lighting retrofits and the recommissioning of the property's mechanical systems. Measures to reduce water use include the installation of waterless urinals, low-flow toilets and auto-sensor faucets.

As a result, annual energy use has been reduced by more than 10%, annual greenhouse gas emissions by more than 30%. This represents enough energy to power 110 Canadian households for one year and emissions reductions equivalent to taking 335 cars off the road. Annual water savings of 7% are equivalent to filling one and a half Olympic-sized swimming pools. 777 Bay Street also has a comprehensive office recycling program which includes electronic waste, fluorescent lamps and organic waste.

"Achieving LEED EB: O&M Gold certification is a testament to the many years of hard work that our Property Management team has invested into the greening of the property, the support of our partner, OPTrust, and the participation of our tenants," said Jonathan Wener, Chairman and CEO of the Canderel Group of Companies.


With assets of $16.0 billion, the OPSEU Pension Trust (OPTrust) invests and manages one of Canada's largest pension funds and administers the OPSEU Pension Plan, a defined benefit plan with over 84,000 members and retirees. OPTrust was established to give plan members and the Government of Ontario an equal voice in the administration of the Plan and the investment of its assets, through joint trusteeship. OPTrust is governed by a 10-member Board of Trustees, five of whom are appointed by OPSEU and five by the Government of Ontario.


Celebrating its 40th anniversary, the Canderel Group of Companies is comprised of several fully integrated, commercial real estate companies with its headquarters in Montreal. Since 1975, Canderel has grown to become one of the most successful real estate development and management organizations in eastern Canada. Founded by Jonathan Wener, Canderel has established an enviable reputation for its integrity as a major real estate development company and for its sound judgment and knowledge of the commercial, multi-residential and industrial real estate business.

Over the years, Canderel has been intimately involved in all aspects of commercial property development, including land assembly, acquisition and disposal, planning, design, construction, project management, leasing, finance, property management and asset management. The group's principal development activities are in the office, commercial, industrial and residential markets of Montreal, Ottawa, Toronto, Edmonton and Vancouver, in Canada. Canderel's success to date is largely a reflection of its unique ability to direct all facets of real estate projects, either on its own behalf, for its clients, or in joint venture with partners.

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