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The 13 office buildings in Richmond, B.C.’s Airport Executive Park – a business park located on 35 acres of green space – date back to a time when climate change and carbon footprints weren’t part of mainstream discussions and long-term environmental control programs. But as more companies set climate and sustainability targets, many are actively working toward reducing greenhouse-gas (GHG) emissions within their operations and supply chains. Fiera Real Estate Canada – the current owner of Richmond’s Airport Executive Park (AEP) – is aiming to achieve net-zero emissions by 2040, partly through the installation of electric heat pumps that will replace its gas-fired heating systems, which date back to the 1980s and early 2000s. The company’s net-zero ambitions are emblematic of the significant commitments national building owners are making that will help Canada reach its target of net-zero building emissions by 2050. And while 25 years from today may seem like a long time, experts warn Canada isn’t making progress fast enough to achieve its goal. The clock began ticking in 2021 when the federal government adopted the , aiming for net-zero emissions by 2050, with an interim target of GHG reductions hitting at least 40 per cent below 2005 levels by 2030. Released this year, the says there are more than 564,000 commercial and institutional buildings across the country, and because the majority are expected to still be in use in 2050, most will require extensive upgrades and retrofitting to reach Canada’s net-zero goal. “It’s hard to see how we’re going to achieve the interim standards for the building sector by 2030, and if we don’t reach them, the climb to 2050 is going to be a lot harder,” says Thomas Mueller, president and chief executive officer of the Canada Green Building Council (CAGBC), which supports the building industry’s transition to green structures and sets national standards for zero-carbon buildings. Updated in July, the council’s focus on maintaining high energy efficiency in new buildings and reducing carbon emissions in older structures by replacing fossil-fuel-burning equipment. It estimates that Canada needs to convert at least 3 per cent of its buildings to net-zero emissions a year and invest billions in making buildings greener. A recent from CAGBC and the Delphi Group – a Canadian climate and sustainability consultancy – identifies the most-needed upgrades in buildings to be LED lighting, triple-glazed windows, roof insulation, high-efficiency ventilation systems, as well as computer control systems that reduce heating and cooling when rooms are not in use. These upgrades require major structural changes and are why most building owners are conducting feasibility studies and putting refits into their 10-year plans, says Tonya Lagrasta, vice-president and head of ESG at commercial real estate services company Colliers Canada. However, she says: “The price tags for things like window replacements can have owners of older buildings falling off their chairs.” The Pembina Institute, a clean-energy think tank, decarbonizing Canada’s commercial and residential building sector will require more than $400-billion in upgrades. It also concludes that more incentives must be put in place. Since grants are often difficult for governments to finance and administer, tax credits to stimulate investment are more practical, says Mr. Mueller. However, a challenge is that several provinces and cities have building codes that include specifications that vary from the federal standards. “It is a real hodgepodge of standards across the country and that is contributing to confusion,” says Terry Bergen, Victoria-based managing principal of RJC Engineers, a building science consultancy. For retrofits, there is also a misconception that high efficiency comes with higher operating costs. But recently, a lot of studies have been released that demonstrate a high return on investment by making these changes, says Duncan Rowe, a Toronto-based principal with RJC Engineers. At the same time, Mr. Rowe acknowledges that it’s not economical or ecologically practical to speed up the replacement of nearly-new equipment just to meet a standard. In other words, upgrades should be aligned with the life cycle of equipment. In the case of Airport Executive Park, the heating systems were several decades old and in need of replacement. While the newly installed systems are less than a year old, the expectation is that annual energy cost savings for all the property’s buildings will be as much as 50 per cent. In the long term, achieving net-zero emissions by 2050 is an interim step toward a goal of being fully net-zero energy – producing as much clean energy as consumed with on-site clean and renewable sources, such as solar, wind or geothermal, Ms. Lagrasta says. Net-zero energy is achievable because technology is advancing, says Mr. Rowe. For instance, solar technology is becoming affordable and can be efficient at powering some buildings, but it needs the right conditions. If a building owner has a large roof area, solar is a practical solution, though it won’t be sufficient for an office tower with a small roof. However, there are also developments in photovoltaic glass that can turn windows into power sources, Mr. Rowe says. Ultimately, economics – not politics – will persuade building owners to invest in green technology, Ms. Lagrasta says. A study by Colliers found tenants are willing to pay a premium of an average of 8 per cent to be in a building with a high sustainability rating. “Building owners value their assets and political winds come and go. But it will become harder to attract and retain tenants in an older building that is falling behind the curve,” Ms. Lagrasta says.
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Boasting unobstructed views of the ocean, Ocean View Towers has become a sought-after destination for those dreaming of a waterfront lifestyle. The project's premium location, contemporary design, and premium facilities have contributed to its success in the real estate market.As players await official confirmation of the PS5 Pro's release and design details from Sony, the unexpected connection between the console and the bathroom heater reminds us to keep an open mind when it comes to sources of inspiration. Whether it's a household appliance, a piece of art, or a natural phenomenon, inspiration can strike from anywhere and lead to groundbreaking innovations that shape the future of technology and entertainment.LAS VEGAS — Players Era Festival organizers have done what so many other have tried — bet their fortunes in this city that a big payoff is coming. Such bet are usually bad ones, which is why so many massive casino-resorts have been built on Las Vegas Boulevard. But it doesn't mean the organizers are wrong. They're counting on the minimum of $1 million in guaranteed name, image and likeness money that will go to each of the eight teams competing in the neutral-site tournament that begins Tuesday will create a precedent for other such events. EverWonder Studios CEO Ian Orefice, who co-founded Players with former AND1 CEO Seth Berger, compared this event to last year's inaugural NBA In-Season Tournament that played its semifinals and final in Las Vegas by saying it "did really well to reinvigorate the fan base at the beginning of the year." People are also reading... "We're excited that we're able to really change the paradigm in college basketball on the economics," Orefice said. "But for us, it's about the long term. How do we use the momentum that is launching with the 2024 Players Era Festival and be the catalyst not to change one event, but to change college basketball for the future." Orefice and Berger didn't disclose financial details, but said the event will come close to breaking even this year and that revenue is in eight figures. Orefice said the bulk of the revenue will come from relationships with MGM, TNT Sports and Publicis Sport & Entertainment as well as sponsors that will be announced later. Both organizers said they are so bullish on the tournament's prospects that they already are planning ahead. Money made from this year's event, Orefice said, goes right back into the company. "We're really in this for the long haul," Orefice said. "So we're not looking at it on a one-year basis." Rick Giles is president of the Gazelle Group, which also operates several similar events, including the College Basketball Invitational. He was skeptical the financial numbers would work. Giles said in addition to more than $8 million going to the players, there were other expenses such as the guarantees to the teams. He said he didn't know if the tournament would make up the difference with ticket sales, broadcast rights and sponsorship money. The top bowl of the MGM Grand Garden Arena will be curtained off. "The math is highly challenging," Giles said. "Attendance and ticket revenues are not going to come anywhere close to covering that. They haven't announced any sponsors that I'm aware of. So it all sort of rests with their media deal with Turner and how much capital they want to commit to it to get these players paid." David Carter, a University of Southern California adjunct professor who also runs the Sports Business Group consultancy, said even if the Players isn't a financial success this year, the question is whether there will be enough interest to move forward. "If there is bandwidth for another tournament and if the TV or the streaming ratings are going to be there and people are going to want to attend and companies are going to want to sponsor, then, yeah, it's probably going to work," Carter said. "But it may take them time to gain that traction." Both founders said they initially were met with skepticism about putting together such an event, especially from teams they were interested in inviting. Houston was the first school to commit, first offering an oral pledge early in the year and then signing a contract in April. That created momentum for others to join, and including the No. 6 Cougars, half the field is ranked. "We have the relationships to operate a great event," Berger said. "We had to get coaches over those hurdles, and once they knew that we were real, schools got on board really quickly." The founders worked with the NCAA to make sure the tournament abided by that organization's rules, so players must appear at ancillary events in order to receive NIL money. Strict pay for play is not allowed, though there are incentives for performance. The champion, for example, will receive $1.5 million in NIL money. Now the pressure is on to pull off the event and not create the kind of headlines that can dog it for years to come. "I think everybody in the marketplace is watching what's going to happen (this) week and, more importantly, what happens afterwards," Giles said. "Do the players get paid on a timely basis? And if they do, that means that Turner or somebody has paid way more than the market dictates? And the question will be: Can that continue?" CREIGHTON: P oint guard Steven Ashworth likely won’t play in the No. 21 Bluejays’ game against San Diego State in the Players Era Festival in Las Vegas. Ashworth sprained his right ankle late in a loss to Nebraska on Friday and coach Greg McDermott said afterward he didn’t know how long he would be out. Get local news delivered to your inbox!
In a small village nestled among the rolling hills of the countryside, a young female master's student was taken in by a family after she was found wandering aimlessly on the outskirts of town. What initially seemed like a benevolent act of kindness soon spiraled into a web of controversy as rumors began to circulate about the true nature of her situation. The villagers found themselves divided, with some insisting that she was being held against her will and others vehemently denying such claims.In conclusion, the Beijing basketball team's loss served as a wake-up call for the players and coaching staff, highlighting the need for improvements and adjustments moving forward. With the soft center exposed and key players underperforming, the team must regroup, learn from their mistakes, and come back stronger in the games to come. Only time will tell if they can rise to the challenge and redeem themselves on the court.
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