At the beginning of 2011, the vacancy rate at 365 Bloor Street East was approximately 30%. The building was in need of renovations and new direction.
By fall 2011, plans to reposition 365/345 Bloor Street East were underway. A key aspect of this project was the formation of an Ownership Committee and the addition of an Asset Manager to lead the process. Parking renovations had begun to upgrade the lighting, signage, security and technology of the parking facility.
Greenrock Real Estate Advisors and Shiplake Properties formed a strategic partnership with Postmedia Networks and rename 365 Bloor Street East to Postmedia Place. Greenrock develops innovative strategies to improve building efficiency.
The major capital projects include: new office lobby and exterior entrance, 9 floors of common area renovation including washrooms, a new property management office with high tech boardroom facility for tenant use, structural refurbishment and modernization of the parking facility, renovation of the 345 Bloor retail common area, 8 elevator modernizations, and installation of a new cooling tower and HVAC system.
365 Bloor Street East is officially rebranded from Greenwin Square to Postmedia Place.
Greenrock begins floor by floor renovations to help modernize the workplace. Greenrock implements a new environmental strategy to divert building waste and reduce building energy consumption. As a result, Postmedia Place is recertified to BOMA Best Gold status.
Greenrock develops fourteen Energy-Efficiency Measures (EEMs) to help reduce the overall energy consumption of Postmedia Place.
Notable EEMs include:
- The two-pump system was replaced with a more efficient variable speed three pump system.
- Building insulation was renewed to prevent heat and cooling loss.
- White reflective rocks were placed on the roof to reflect the sun’s rays.
Greenrock, with the aid of an energy consultant, creates an energy management plan to achieve a target 2.5% energy reduction throughout Postmedia Place. One key aspect of this plan was to analyze utility consumption data and recalibrate building amenities to ensure energy was not wasted during off business hours.
Greenrock undertook a third-party energy audit to verify energy reduction levels were on pace with target objectives. To help achieve reduction targets, Postmedia Place underwent a LED light retrofit to reduce energy consumption. The HVAC system was also recommissioned and rebalanced to ensure optimal heating and cooling within the building.
Postmedia Place registered with the race2reduce program and is awarded the race2reduce founding participant plaque. The aim of this program is to reduce building operating costs and improve overall energy efficiency.
Race2Reduce Crest (Commercial Real Estate Sustainability Trailblazers) Award. This award was granted to PMP for collaborative excellence in energy reduction and community engagement. The initiative promotes landlord-tenant partnerships to improve energy efficiency.
Postmedia Place’s 2018 Earth Hour Challenge
Postmedia Place entered the BOMA Toronto and WWF Canada Earth Hour Challenge, and achieved a 42% reduction in hydro consumption (252kWh).