The Currents: Ottawa's First Green Condominium and Theatre
Type of initiative
FCM Green Municipal Fund - Capital Project
Sector
Energy
Project value$18,865,300
Project Type
Capital Project
Sub Sector
Building – New – with Renewable energy
Grant amount$140,000
Program type
GMF
Municipality
City of Ottawa, ON
Loan amount$1,451,600
Status
Fully Disbursed
Population
1,017,449
Project timeline
2007 - 2012
Project number
7146
Description
The focus of this green building development pilot project is two-phased: to obtain Leadership in Energy and Environmental Design (LEED™) Gold rating for the Currents, a 74,000 square foot building consisting of theatre space on the first two floors that will house the Great Canadian Theatre Company, above which is an eight floor condominium complex; and to pilot a new financing tool to demonstrate how energy savings can benefit both green building development investors and tenants. It is estimated that the Currents will use 47 per cent less energy than the benchmark building and have a decrease of 379 tonnes per year of carbon dioxide equivalent (CO2e) emissions compared to the benchmark building. The building will consume certified “green energy”, produced with zero emissions, eliminating additional greenhouse gas emissions from electricity consumption. Additionally, the use of concrete with 40 per cent fly ash content will result in an estimated one-time saving of 576 tonnes of CO2e. The storm water reuse system combined with the water efficiency features will result in a reduction of 144 cubic metres per year (m3/year) of water in comparison to the benchmark building.
Applicant
Windmill Development Group A Westeinde Group Company, ON