Energy use in highrise condominiums is one of the fastest-growing sources of greenhouse gases in Toronto. On Dec. 19, 2007, Monarch Corporation and The Goldman Group partnered with the City of Toronto to do something about it. A member of the Canada Green Building Council, Monarch has incorporated numerous environmental initiatives to create greener, more energy-efficient surroundings. The most recent is securing a green loan from the Toronto Atmospheric Fund (TAF) for the Red at Equinox condominium that the company is developing with The Goldman Group at the Scarborough Town Centre.
The loan is part of the Tower Wise program under TAF, which was created by Toronto city council in 1991 to help finance projects that counter global climate change by reducing greenhouse gas emissions and improving air quality in the city. The funds will enable Monarch and The Goldman Group to incorporate systems in the building that will result in more than 30 per cent savings on energy consumption over the National Energy Code for Buildings requirement. During the first few years of occupancy, the Condominium Corporation will repay the loan with funds that would normally be spent on higher hydro and gas bills, were the building constructed to minimum code. This enables Monarch to enhance the condominium’s energy efficiency without raising suite prices, and once the loan is paid, the cost savings will be passed along to residents.
Red at Equinox is situated steps from the Scarborough Town Centre and the SRT, close to Highway 401. Residents will save on energy costs through green features such as individual suite metering of hydro consumption, an individually controlled year-round heating and air conditioning heat pump system, and Low-E Argon-filled insulated tinted windows.
Suites from 515 to 868 sq. ft. are priced from $164,990. The Red Sales Centre and model suite are at 60 Brian Harrison Way. Hours are Monday to Thursday from noon to 6 p.m.; Fridays, weekends and holidays from noon to 5 p.m. Call 416-495-3582 or visitMonarchgroup.net.