Slate & Greystone
Portfolio LED Upgrade 15 Towers completed in 6 Weeks
Why build new if it’s more cost-effective to revitalize an existing building? It’s a successful strategy adopted by Slate Asset Management, a real estate investment firm with a portfolio across North America and Europe. Slate not only acquires and improves commercial properties, but stays on as building operators; a holistic, “all in” approach that’s attractive to both investors and prospective tenants.
Several years ago, Slate, partnered with Greystone Managed Investments Inc., acquired a 15-building portfolio of older commercial office buildings. To reduce costs, ownership decided that a complete LED lighting retrofit was in order. The challenge was a 15 Office Tower portfolio needed every single light converted to LED in 2 months when the normal time for such a project was typically 1 year. In 2015 few companies had experience to execute as LED was relatively new and an initiative of this size and scope was rare. TGL was awarded the contract and used a crew of 90 electricians to finish the project in an unbelievable 6 weeks. This project was featured by Toronto Hydro as a case study and included in The Globe & Mail news paper.
Project Cost Range:$3,500,000 - $4,500,000
Annual KWH Saved:8,842,000