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Camrost Felcorp Inc. Completes Drilling for Mississauga's Biggest Geothermal System
[April 07, 2021]

Camrost Felcorp Inc. Completes Drilling for Mississauga's Biggest Geothermal System

At 66 Storeys, EX3 will be Province's Tallest Geothermal Powered Condominium

MISSISSAUGA, ON, April 7, 2021 /CNW/ - Camrost Felcorp Inc., the developer of the award-winning Exchange District mixed-use new community in downtown Mississauga today announced that the drilling of 186 geothermal boreholes, which will provide an alternative energy source to two of the four towers in the development, have now been completed making way for the commencement of shoring and excavation.  The project will bring off-grid energy to the rental tenants in the development's purpose-built rental tower, as well as guests of the planned boutique hotel structure, and, the 650 suites in the 66-storey EX3 condominium tower.

In partnership with Diverso Energy, a Geothermal Energy Service Provider, the buildings will benefit from this low carbon heating and cooling solution which, unlike conventional systems, will not require heating boilers or rooftop cooling towers. Additionally, geothermal eliminates the need for natural gas for heating, ensuring Exchange District is a true development of the future.

The inclusion of EX3 in this power system makes it the tallest residential development in the province to feature this innovative geothermal-based approach to sustainable energy service.

"The Exchange District is an award-winning community, celebrated for its careful urban planning, distinctive architecture, and smart design, not to mention its unparalleled, transit-oriented location in the heart of the Mississauga's City Centre," notes Joseph Feldman, Vice President of Development at Camrost Felcorp.  "But in today's real estate environment, we understand that those attributes are simply not enough for our market. Purchasers, renters, retailers and those who care about creating great communities, all agree that tody's communities must also be environmentally sensitive, sustainable and conscientious."

According to Diverso Energy's co-founder and partner, Jon Mesquita, the company has partnered "with several real estate developers across the GTA in the last few years, helping them meet ever increasing new energy and carbon targets and purchaser demands for energy efficiency," adding that EX3, at 66-storeys, "will be the tallest condominium tower in the province to benefit from a geothermal heating and cooling system."

Further demonstrating Camrost Felcorp's commitment at the Exchange District to sustainability and the pursuit of innovative environmentally-friendly technologies, the developer today has also announced a partnership with Mitsubishi Electric to utilize the company's state-of-art Variable Refrigerant Flow (VRF) system.

Mitsubishi's proprietary City Multi water source VRF system revolutionizes the typical approach to HVAC systems in multi-residential towers, providing a premium HVAC solution typically seen in Class-A commercial settings, with features such as simultaneous heating and cooling as well as heat-recovery capabilities. While the heat recovery system has a greater initial cost, it allows for better zoned thermal control of a building and overall greater efficiencies, ultimately saving residents operating costs in a sustainable manner.

About Exchange District

Exchange District is a new urban master-planned community destination coming to downtown Mississauga.  Comprising three condominium towers, a rental residence and hotel, the project has been recognized as critical urban element in the creation of the new Mississauga City Center.  A multi-use community, Exchange District will boast more than 2-million square feet of coveted retail, shopping, dining, office and commercial spaces, a boutique hotel, new lush public parks and thoughtfully designed open spaces. 

Camrost Felcorp

Camrost Felcorp has established its place as one of the foremost names in the development industry since 1976 by consistently leading the way in creating landmark condominiums, and is behind many of the Greater Toronto Area's most distinctive and memorable residential communities and commercial properties. Unique in design, each is built on a similar foundation of superior craftsmanship, a pre-eminent address, and a timeless style that is ahead of the industry.

Diverso Energy

With over 30 years combined experience, Diverso Energy is an industry leader in the design, construction, and operation of geothermal heating and cooling systems. Helping developers of multi-family and commercial office buildings achieve sustainability and energy reduction targets by offering a unique geothermal utility model converting the upfront costs to long term operational expense.

Mitsubishi Electric Sales Canada Inc.

Mitsubishi Electric Sales Canada Inc. was established in 1979 as a subsidiary of the Mitsubishi Electric Corporation of Japan. Since then, Mitsubishi Electric Sales Canada Inc. has been at the forefront of heating, cooling and ventilation technology, sales, installation, and service. With 100 years of experience in providing reliable, high-quality products to both corporate clients and general consumers all over the world, Mitsubishi Electric Corporation is a recognized world leader in the manufacturing, marketing and sales of electrical and electronic equipment used in information processing and communications, consumer electronics, industrial technology, energy, transportation and construction.

SOURCE Camrost Felcorp

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