June 03, 2024

Property Management Tips, RYPM Resources

RYPM

With the global declaration of a climate crisis and emergency, cities around the world have reassessed their development strategies and are now focusing more on sustainability. Brampton, being one of the progressive cities in the province of Ontario, Canada, leads this green revolution.

At Royal
York Property Management, we understand the importance of these changes and how they impact property management and investment decisions. Being rated number one in property management for six years running, Royal York Property Management assures property owners of the ability to relax and diversify their portfolios while professionally managing complexities.

Competitive in the Ontario landscape, the property management portfolio is strong and now includes 22,000 properties valued in excess of $10.1 billion in combined assets. This blog takes a look at how Brampton makes changes toward greener construction in 2024 by identifying the city's innovative programs, initiatives, and long-term vision.

The Sustainable New Communities Program  

In 2015, Brampton, in conjunction with other municipalities, namely Markham, Richmond Hill, and Vaughan, initiated the Sustainable New Communities Program. This joint venture had the objective of creating complete communities that basically consider sustainability as the main factor in designing the city. Fully updated in 2022 to meet the latest environmental standards, this program sets a precedent for sustainable development in the region.

The program uses a points-based system whereby developers are required to gain points on certain sustainability criteria to ensure the approval of their projects. The categories include:

1. Built Environment: Incentivizing mixed-use developments and prioritizing green spaces and pedestrian-friendly designs.
2. Mobility: Promotion of public transit, cycling lanes, and walkability to reduce the use of private vehicles.
3. Natural Environment & Open Space: Conservation of natural areas and improvement of parks and the recreational system.
4. Infrastructure & Buildings: Energy-efficient designs and integration of renewable energy sources.

The developers have to achieve a minimum score to be categorized under the threshold of bronze in order to be allowed to deliver their projects. This program will not only speed up the delivery of complete communities but also add long-term economic, environmental, and social benefits to Brampton.

Insights from the BBOT’s 2024 Energy & Environment Forum
  

The Brampton Board of Trade (BBOT) has organized the 2024 Energy & Environment Forum. Industry leaders have been brought together to present critical subjects that relate to sustainability. Key discussions included:

1. Retrofitting Buildings:
Brampton encourages all owners to retrofit the existing buildings for energy efficiency, reducing greenhouse gas emissions and lowering operating costs.
2. ESG and SDGs: Businesses operating in Brampton navigate through principles of environmental, social, and governance (ESG) principles and align their vision with the Sustainable Development Goals of the United Nations and the Sustainable Community Development Guidelines of Brampton to remain in business responsibly.
3. Electrified Fleets: Companies are investing in complete electric, no-tailpipe emission bus fleets; this contributes to clean air and noise pollution.
4. Net-Zero Workforce: Brampton targets a net-zero workforce in the year 2040, where training programs and incentives promote sustainable employee practices.

Active Transportation Infrastructure  

Brampton's commitment to sustainability extends beyond traditional infrastructure. The city shall have active transportation, where there is a major emphasis on walking and cycling as choices for not driving. There are dedicated bike lanes and pedestrian-friendly pathways to improve mobility and reduce traffic jamming and air quality. These actions promote not only environmental aims but healthier lifestyles and more cohesive community relationships.

Brampton's Vision for 2040
 

Brampton's long-term view has six major themes that guide the sustainable development initiatives taken by the city:
1. Nurturing Strong and Connecting Communities: Community centers, cultural hubs, and inclusive spaces to connect residents.
2. Sustainability and Climate Change: The city focuses on targets of carbon reduction, green infrastructure, and climate resilience.
3. Housing and Social Matters: Affordable housing initiatives, along with social equity programs, deal with the needs of all residents.
4. Mobility and Connectivity: Public transit, cycling networks, and smart mobility solutions to enhance connectivity.
5. Health and Wellness: Healthcare facilities access and wellness programs to promote overall well-being.
6. Jobs and Living Centers: Hubs of economic growth have vibrant living spaces to support a balanced lifestyle.

Ongoing Initiatives
  

Brampton continues its leadership in sustainability with several initiatives underway:

Fully Electric Zero Tailpipe Emission Bus Fleet:
Situated at the south-west corner of Highway 50 and Cadetta Road in Brampton, the electric bus fleet contributes to cleaner air and reduced carbon emissions.

Brampton Official Plan: The official plan for the city reflects concern for sustainability, which is in line with the ongoing initiatives in view of broader environmental goals.

Brampton is very committed to sustainable building practices. As the city moves toward a greener tomorrow, the collective efforts of residents, businesses, and policymakers will shape Brampton's resilient future.

Through education on the latest trends and new initiatives, landlords can play a part in Brampton's sustainable revolution and ensure that their properties are part of this exciting journey toward a greener future. For more information on Royal
York Property Management and our services, visit: royalyorkpropertymanagement.ca