construction and open the door to the increased
use of wood in low-rise commercial buildings
across Canada,” said Berube.

In addition to housing 400 office workers,
TRCA’s new headquarters will be utilized as a learn-
ing centre – a living laboratory for developers, re-
searchers, professionals and students.

“It’s fitting that this structurally advanced wood
building will be a learning centre,” said Rick Jeffery,
interim president at the Canadian Wood Council.

“TRCA’s new administration office will show-
case the environmental benefits of wood in con-
struction while highlighting the structural diversity
of mass timber products in column and floor as-
sembly applications,” said Jeffery.

TRCA’s new mass timber office building is also
part of the Canada Green Building Council’s Zero
Carbon Building Pilot Program.

The new building is intended to be one of the
most energy-efficient office buildings in North
America. Once completed in 2021, the office will
be a net-zero energy-efficient building, producing at
least as much energy as it consumes on an annual
basis. Sustainable design features will include:
• Solar thermal panels on the roof
• Four solar chimneys
• Waterwalls to reduce energy use
• Electric vehicle charging stations
• Rainwater harvesting to irrigate a green roof
When complete, the building will achieve a low-
carbon footprint through all lifecycle phases and
achieve significant building certifications including
Toronto Green Standard Tier II, Leadership in En-
ergy and Environmental Design (LEED) Platinum,
and WELL Silver.

The team of ZAS Architects and Bucholz
McEvoy Architects are overseeing the design of
the TRCA’s new mass timber office building. Their
model simulations are predicting over 50% reduc-
tion in operating emissions and over 75% reduc-
tion in embodied carbon compared to the average
building in Toronto.

“TRCA is committed to applying the best prac-
tices in green building and sustainable design”,
said John MacKenzie, chief executive officer of the
Toronto and Region Conservation Authority.

The TRCA is one of 36 Conservation Authorities
in Ontario that deliver a local resource manage-
ment program at the watershed scale to ensure the
conservation, restoration and responsible manage-
ment of Ontario’s water, land and natural habitats.

“Thanks to Natural Resources Canada’s gener-
ous contribution, along with contributions from the
Province of Ontario and TRCA’s participating munic-
ipalities, our new administrative office building will
be one of the most energy-efficient office buildings
in North America.”
Federal government unlocks
$400 million in capital financing
to regenerate, redevelop and
build affordable housing, opens
investments to leverage up to
$121 billion in the next 10 years
Canadian Design and Construction Report staff writer
A new sector-based lending institution received its first
investment of $20 million from the federal government, cre-
ating a $400 million pool of funding for affordable housing
construction and redevelopment.

The Honourable Jonathan Wilkinson, Minister of Fish-
eries, Oceans and the Canadian Coast Guard, made the
funding announcement on behalf of the federal government
in Vancouver in late August.

“This will undoubtedly open up new growth opportuni-
ties in the housing sector, and facilitate the development of
more affordable housing stock,” said Wilkinson.

HPC Housing Investment Corporation (HI-C) creates and
offers bonds in capital markets to investors at long-term
fixed interest rates, generating funding for affordable hous-
ing providers and their projects.

Wilkinson said the funding contribution is a strategic in-
vestment in affordable housing.

It is intended to showcase how a relatively small invest-
ment can be maximized to increase its impact on the hous-
ing sector.

It is expected the $400 million pool will finance the build-
ing more than 2,000 residential units over the next two
years in communities hit hardest by housing affordability.

HI-C is the creation of Housing Partnership Canada (HPC),
a peer exchange network of CEOs and executives of
Canada’s larger social/affordable housing operators and de-
velopers. Based on a 2015 feasibility study commissioned by HPC,
the total capital requirement to create new affordable hous-
ing and replace aging, existing social housing stock in
Canada is expected to be from $77 billion to $121 billion
over the next 10 years.

HI-C aggregates the borrowing needs of eligible Cana-
dian affordable housing providers, and provides access to
capital through the Canadian debt capital market. The corpo-
ration offers 30-to-40 year fixed-rate financing.

“HPC Housing Investment Corporation’s innovative ap-
proach offers more financing options for affordable housing
providers,” said Shayne Ramsay, Chair and President, HPC
Housing Investment Corporation and CEO, BC Housing.

The feasibility study was undertaken by the investment
bank Morrison Park Advisors. It confirmed that demand for
capital is significant and outstrips government funding ca-
pacity by billions each year. It recommended the creation of
the HI-C to address the large and growing capital funding
gap. The Canadian Design and Construction Report — Summer/Fall 2019 – 13