Fairmont Royal York Hotel in Toronto Gets $46.5 Million Retrofit
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The Fairmont Royal York Hotel is a 94-year-old Toronto landmark, and it is getting a $46.5 million retrofit to reduce its carbon emissions, with its goal to be a net-zero, carbon-neutral building.
The Royal York’s owners, KingSett Capital, and the Fairmont chain are partnering with the Canada Infrastructure Bank (CIB) to fund their net-zero, decarbonization project. CIB agreed to finance $38 million as part of the CIB’s Building Retrofits Initiative (BRI) which provides financing for energy retrofit projects.
It is estimated that by the end of 2023, 80 percent of the carbon emissions from the Royal York Hotel’s operations (heating, cooling, cooking, washing and cleaning systems) are expected to be reduced.
By the end of this year, KingSett Capital and Fairmont are seeking to gain a Canada Green Building Council’s Zero Carbon Building Standards Certification. Buildings that achieve the council’s certification must have their certificate renewed annually to show their continued efforts to reduce their climate impact.
Beginning in 2021, one reason for turning the Royal York into a net-zero building is so it aligns with Canada’s overall goal of becoming net zero by 2050. The building sector is the third-largest source of greenhouse emissions. Many of the historic buildings found in Toronto like the Royal York were not originally built with the environment in mind.
Before the retrofit project took place, the Royal York was already taking environmentally friendly actions. They raise honeybees on the roof alongside a rooftop garden for the chefs, and they have eliminated the use of single-use plastics.
This net-zero retrofit of the Royal York Hotel in Toronto is a huge challenge and project to undertake given the age of the building, but it sets an example that it can be done and is achievable.
References
CIB invests $38M to enable KingSett Capital’s decarbonization of the historic Royal York Hotel | Canada Infrastructure Bank (CIB). (n.d.). https://cib-bic.ca/en/medias/articles/cib-commits-38m-to-enable-kingsett-capitals-decarbonization-of-the-historic-fairmont-royal-york/
Fairmont Royal York Hotel Retrofits | Canada Infrastructure Bank (CIB). (n.d.). https://cib-bic.ca/en/projects/green-infrastructure/fairmont-royal-york-hotel-retrofits/
Israelson, D. (2023, September 26). Landmark Toronto hotel sees net-zero retrofit. The Globe and Mail. Retrieved November 2, 2023, from https://www.theglobeandmail.com/business/industry-news/property-report/article-landmark-94-year-old-hotel-expects-to-hit-net-zero-status-this/
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