2024 Winter Issue of Urban Land - 45

2. CIBC Square
TORONTO, ONTARIO, CANADA
Codeveloped by the local office of Hines and Montreal-based
Ivanhoé Cambridge, CIBC Square is a 3 million-square-foot
(280,000 sq m), two-tower office complex in downtown Toronto.
The first phase, a 49-story tower completed in 2021, consists of
1.5 million square feet (140,000 sq m) of office space and amenity
areas. A syndicate of lenders led by Canadian Imperial Bank
of Commerce provided a Canadian $780 million (US$642 million)
green construction loan to finance the second phase of construction,
scheduled for completion in 2025.
CIBC Square achieved LEED Platinum certification and WELL
Platinum certification. The folded façade's high-performance
glazing lets in plenty of daylight, reducing the need for artificial
lighting. The complex connects directly to the city's underground
pedestrian walkway network and Union Station, and also offers
500-plus bicycle racks and shower facilities to encourage alternative
forms of commuting. Rainwater and groundwater systems
capture, filter, and sanitize water for use in washrooms. WilkinsonEyre
Architects of London is the design architect, and local
firm Adamson Associates Architects is the executive architect..
3. CitizenM Los Angeles Downtown
LOS ANGELES, CALIFORNIA
When the COVID-19 pandemic struck in 2020 and incapacitated
the travel sector, traditional capital sources for hospitality development
dried up. In response, many hospitality developers have
turned to C-PACE financing to fill the gap. Case in point: Amsterdam-based
CitizenM and local developer BLVD Hospitality drew
on a $42 million C-PACE loan to help create CitizenM Los Angeles,
a 315-room hotel that opened in downtown LA in 2021.
Its sustainability strategies include a 100 percent fresh air
supply and heat pumps to provide heating and cooling; occupancy
sensors to minimize energy use in break rooms, corridors,
meeting rooms, and restrooms; and a central dashboard that
enables staff members to monitor and adjust room temperature
in unoccupied guest rooms. In addition, all guest rooms were
manufactured as modules in a factory, which allowed for airtight,
well-insulated spaces and a significant reduction in construction
waste. Amsterdam-based design firm Concrete designed the
hotel in collaboration with the local office of Gensler.
WINTER 202 4
URBAN LAND
45
BEST PRACTICES
EL ON S CHOENHOLZ, C OUR TES Y OF CITIZENM
C OUR TES Y OF HINES
C OUR TES Y OF CITIZENM

2024 Winter Issue of Urban Land

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