Skyline Focuses on Sustainability

Environmental sustainability and the Portfolio Efficiency Program (PEP) continue to be a top priority for the Operations division of Skyline. That is why we are pleased to announce that, through a partnership with Blackstone Solar Inc, a Toronto-based company that specializes in providing integrated energy solutions and renewable energy products to consumers, we have been able to reduce our environmental footprint even further.

In May, Blackstone Solar Inc. installed a tube evacuated thermal unit on the rooftop of one of Skyline's multi-residential buildings (1200 Talwood Drive in Peterborough, Ontario). This unit (or solar panel) runs water through a system of tubes on the roof that helps heat the water for the building. This system will account for approximately 70% of the overall domestic hot water needs of the building.

Roy Jason Ashdown, Chief Operating Officer and Co-Founder of Skyline commented that, "Everyday we strive to locate new ways in which we can excel in sustainability. Our core purpose as a company is to surface value in real estate and at the end of the day, this system and others like it will provide a win-win situation both for our bottom line and the environment. Our costs are minimal, but the positive impact that our efforts will make on the environment will last a lifetime."

"I applaud Skyline's efforts to continually strive for a higher level of environmental stewardship” commented Vince Brescia, the president of the Federation of Rental Housing Providers of Ontario. “Skyline is a leader in the industry in the application of technology to improve portfolio efficiency.”

The total cost of this system, including installation, was $54,000 but the total cost was offset by federal and provincial government grants that Skyline received totaling $44,000. The remaining $10,000 will be recovered within a 2 ½ year time period, as the annual building expenses are projected to decrease by $4,400 per year, making this not only an environmentally sound decision but also a financially conscientious one.
“I applaud Skyline’s efforts to continually strive to a higher level of environmental stewardship", comments Frank Valeriote, member of the board for Skyline and Guelph's Member of Parliament. "Skyline’s motivations to drive revenues through improved efficiency are a goal that I have long supported”.

Skyline hopes to continue working with Blackstone Solar Inc. to further implement renewable energy systems into various buildings throughout the REIT. Ryan Duffy, employee at Blackstone Solar Inc. says that, "Skyline is the first multi-residential owners that I've seen that has committed to solar power as one of their sources of renewable energy."