First Capital

As Galeries de Lanaudière continues to evolve as a premier shopping destination east of Montreal, an exciting new addition has taken shape behind the scenes. First Capital is proud to welcome E67, a 20,000 sq. ft. furniture concept under the JC Perreault banner to the centre.

In this episode, we take you behind the construction process, from early demolition of three previous units to the façade reconstruction, and share with you how our team brought this large-scale retail transformation to life.

A Major Redevelopment: From Three Units to One Retail Destination

Our Construction team – represented in the video by Nicolas Deschenes, Director of Construction for Eastern Canada at First Capital – began the project by transforming three former rental retail spaces into one cohesive unit. This required:

1. Relocating GLOBO Shoes

2. Decommissioning spaces previously leased by Suzy Shier and Pantorama

3. Preparing a fully integrated footprint suited to a large-format furniture retailer

This strategic reconfiguration not only maximizes floor space but supports long-term growth for E67 and enhances the centre’s tenant mix.

Phase One: Creating a Modern and Energy-Efficient Interior

The first phase focused on major interior work, including:

– Removing demising walls
– Demolishing outdated floors and ceilings
– Replacing ventilation units
– Installing electric thermopumps

Beyond improving comfort and efficiency, these upgrades support First Capital’s net-zero objectives, providing sustainable technology that benefits both the tenant and the environment.

Phase Two: Rebuilding the Exterior Façade

With interior demolition complete and ready for tenant build out, the project team shifted focus to a brand-new façade aligned with E67’s design standards. This involved:

– Reconstructing portions of the structural frame
– Installing new curtain walls
– Completing architectural finishes tailored to the brand

During demolition, the team discovered some differences in the original construction plans. This required a temporary pause, revised structural drawings, enhanced specifications, and coordinated efforts with subcontractors and professionals. Thanks to effective collaboration, the team successfully made up for lost time.

Tenant Build-Out: The Interior Comes to Life

Once the base building work was completed, the tenant took possession of the space, allowing both teams to work in tandem. Inside the unit, significant progress followed:

– Drywall installation and paint
– Slab grinding
– Electrical and ventilation installation

With merchandising and finishing underway, the project entered its final stretch before the grand opening.

First Capital’s In-House Teams: Supporting Our Tenants Every Step of the Way

Beyond the construction phase, First Capital plays a leading role at every stage of the project.

From lease agreements to design approvals, every step is led by our in-house teams, working together to deliver a seamless experience for our tenant:

LEASING – Alignment Between Deal Terms and Build Scope

Our Leasing team kept the deal and the design in sync:

– Adjusted Landlord’s Work (LLW) scope alongside Construction as deal terms evolved.
– Collaborated with the tenant on exterior design requirements.

LEGAL – Precision Through Negotiations and Documentation

Our Legal team managed the full leasing process internally:

– Managed the full lease agreement from draft to execution, including revisions and negotiation support.

DEVELOPMENT – Approvals and City Interface

Our Development team navigated municipal processes to keep momentum:

– Led City/CCU submissions and permit applications.
– Secured approvals for façade changes and exterior modifications.

CONSTRUCTION – Execution, Coordination, and Quality

As shown in the project video, our Construction team handled end-to-end delivery on site:

– Directed all on‑site construction activities.
– Coordinated work with the tenant and ensured alignment between LLW, Tenant Work, schedules, and site conditions.

TENANT COORDINATION – The Connector Across Teams

Our Tenant Coordinators are the primary liaisons between Tenant, Leasing, Construction, and Operations:

– Managed onboarding, documentation, possession, and communication.
– Reviewed drawings, clarified scope, coordinated schedules, and monitored tenant construction progress.

OPERATIONS – Day‑to‑Day Readiness and Centre Integration

Our Operations team ensures the new store is fully integrated with the shopping centre and ready for opening:

– Managed utility transfers (Gas and Hydro).
– Ensured the fire alarm system was properly integrated.
– Issued welcome letters, coordinated rent setup, and supported the tenant throughout the project

Why it matters: Since these functions are fully in-house at First Capital, our teams make faster decisions, maintain brand and building standards, and provide consistent support from agreement to opening day and beyond.

In addition, having in-house expertise means we can respond quickly to unexpected challenges, streamline communications across departments, and ensure that confidential information is handled securely.

Our integrated approach also enables us to build strong, lasting relationships with our tenants, adapt solutions to their specific needs, and deliver a higher level of accountability and quality control throughout the entire process.

Now Open: Explore the New E67 at Galeries de Lanaudière!

With construction complete, the façade rebuilt, and the interior beautifully finished, E67 is now ready to welcome customers. This exciting new addition brings exceptional furniture offerings to the region and enhances the shopping experience at Galeries de Lanaudière.

Visit E67 at Galeries de Lanaudière today and discover the newest destination for stylish, quality home furnishing.

Congratulations to everyone involved in bringing this project to life!

Welcome to First Capital’s Tenant Spotlight series! In this edition, we’re excited to feature Shauna Bradley, CEO of Heart and Crown Irish Pubs. Shauna leads one of Ottawa’s most beloved pub brands, a family-owned business that has been bringing authentic Irish hospitality to the community for over 30 years.

Located at our Strandherd Crossing property, Heart and Crown offers a warm, welcoming atmosphere, top-notch pub fare, and a true taste of Ireland right here in Ottawa.

Meet Shauna Bradley, The Queen of Hearts

Shauna proudly carries on a family tradition that began in 1992. Her father, an immigrant from Ireland, dreamed of opening a pub reminiscent of home, where people could gather, share stories, and enjoy a good time. Today, that dream has grown into four thriving locations across Ottawa, including the beloved Barrhaven pub at Strandherd Crossing.

A Business Rooted In Family

Running a family-owned business comes with its challenges, but Shauna embraces them wholeheartedly. Working alongside her siblings, she describes the experience as a unique blend of friends, family, and business. “We are never bored,” she says, highlighting the vibrant energy that keeps the Heart and Crown team motivated.

The Magic of the People

For Shauna, the very best part of running Heart and Crown is the people. From dedicated staff to loyal customers, every day brings new personalities, new stories, and new memories. The pubs have even hosted countless engagements over the years, becoming the backdrop for milestone moments in people’s lives. “You definitely meet all kinds,” Shauna shares. “The characters you meet over the years, it’s a lot of fun.”

Authentic Irish Atmosphere

What sets Heart and Crown apart? Authenticity. Every piece of furniture is crafted in Ireland and imported to Canada. For the Barrhaven location, Irish designers and builders flew in to create a true Irish pub experience. From the décor to the warm ambiance, guests feel like they’ve stepped into a pub in Dublin.

Top-Notch Pub Food & Signature Drinks

Heart and Crown isn’t just about atmosphere, it’s about flavour. Shauna proudly claims they serve some of the best nachos in Ottawa, alongside favourites like jerk chicken and the famous Irish spice bag. And don’t forget the fries, “the closest to Irish chips you’ll find here,” she says.

For drinks, Shauna recommends the Hairy Larry Caesar, a creative twist on the classic Caesar featuring Dunrobin Silver Pickle Vodka, a bacon rim, pepperette, Irish cheddar, olives, and a side of beer. Named after her father, Larry, this drink is the ultimate hangover cure.

Building Culture for the Future

After 30 years of success, Shauna’s focus is on building a strong culture and keeping Heart and Crown relevant for years to come. By reinvesting in their people and pubs, the team ensures every guest feels welcome and every visit is memorable.

Visit Heart and Crown Irish Pubs Today!

Looking for an authentic Irish pub experience in Ottawa? Heart and Crown offers great food, unique drinks, and a warm atmosphere that feels like home. Stop by the Barrhaven location at Strandherd Crossing and discover why they’ve been a local favourite for over three decades.

Learn more about Heart and Crown Irish Pubs on their Website and Instagram!

Since the first intern cohort joined us in 2017, we’ve had many talented young professionals come through our Summer Intern Program, kick off their careers, and ultimately make their mark in the Canadian Real Estate industry. We’re looking for the next generation of Real Estate professionals to revolutionize and push our industry forward. Do you have what it takes?

About FCR’s Unique Intern Program

Our Intern Program gives young professionals access to enriching opportunities to start and accelerate their careers. Through this program, First Capital Interns gain real, meaningful work experience through hands-on activities, working alongside our leaders on exciting projects and strategies.

interns listening to orientation in the boardroom

In addition to day-to-day assignments, Interns have access to a series of learning and networking events, mentorship sessions from our leaders, and an end-of-term Capstone Project. Our goal is to provide all program graduates with a solid understanding of our business, the Canadian Real Estate (CRE) industry, and a wealth of valuable connections.

The program spans from May to August and we offer positions in many departments including Asset Strategy, Real Estate Services, Development, Information Technology, Marketing & Communications, People & Culture, Finance & Accounting, Legal, and many more across our offices in Canada. There’s truly something for everyone!

What Does Our Program Feature?

Our program features role-specific projects, weekly Learning and Mentorship Sessions, Intern Socials, Networking Events, and the end-of-term Capstone Project.

The Capstone Project Presentation

Our Interns also take part in the Capstone Project that ties all the foundational elements of the internship program — practical work experience, collaboration, research, and innovative problem-solving. Interns from across their disciplines work together and look for ways to drive creativity and innovation within our portfolio of mixed-use real estate. This project spans the entirety of the program and is presented to our Executive Leadership Team at the end of the four-month term. Talk about real work experience!

Intern presenting with group pointing at screen Infront of people at table

Intern Presenting with group to ELT sitting at Boardroom Table

Why First Capital?

At First Capital, we offer a dynamic and diverse environment that allows for all our employees to grow and be successful. We invest in those who are passionate about what they do, are always willing to put their best foot forward, and are dedicated to working together to drive innovation and achieve success.

We’re passionate about empowering the next generation of professionals in the real estate industry, and we aim to continue growing and implementing our yearly intern program to achieve this goal. Challenging, exciting, dynamic, and rewarding; FCR’s workplace offers enriching opportunities to grow and contribute meaningfully to our neighbourhoods.

Our 2025 Cohort

A Prime Retail Destination in Downtown Toronto

One Bloor East has emerged as a premier retail hub in the heart of Toronto’s Yorkville neighbourhood at one of the city’s most recognized intersections – Yonge and Bloor. This mixed-use development sits atop Toronto’s busiest and most important subway interchange making it a natural corridor for thousands of visitors and Torontonians alike.

Redevelopment Highlights: From Nordstrom Rack to a Bolder Vision

In 2017 First Capital acquired the commercial retail podium at One Bloor East. The 85,000 square foot retail property was leased to a variety of tenants, including a two-storey Nordstrom Rack. Following Nordstrom’s announcement in 2023 that they would be closing all of their Canadian stores, First Capital saw this as an opportunity to reimagine the space and acted quickly to secure new and exciting tenants, achieving full occupancy of the retail podium.

Shell Condition Spaces: A Blank Canvas for Retail Innovation

A part of our Landlord Work, each tenant space was returned to shell condition, offering a clean slate for interior fit-outs. This included:

Demolition of previous finishes and storefronts

Structural reconfigurations and concrete work

Installation of new elevators and slab modifications where required

Each space within One Bloor East was thoughtfully reimagined to meet the unique needs of its incoming tenants. From structural overhauls to tailored storefronts, the redevelopment showcases how shell condition spaces can be transformed into flagship destinations.

Scotiabank – From Retail to Refined Banking

The former Nordstrom Rack ground floor was converted into an 8,000 SF space for Scotiabank. This transformation involved:

Demolishing the previous storefront and revolving door

Installing a clean, modern façade

Custom glazing modifications to accommodate ATMs and night deposit boxes

This redesign gave Scotiabank a fresh canvas to create a welcoming and functional banking environment.

Avant by Altea – Luxury Fitness in Yorkville

Occupying the upper level of the former Nordstrom Rack space, Avant by Altea introduced a bold new concept to One Bloor East: a luxury lifestyle fitness club designed specifically for the Yorkville demographic. The 30,000 SF space was returned to full shell condition, giving Altea complete creative freedom to shape the environment from the ground up

The build-out involved:

Implementing bespoke interior design

Introducing six boutique fitness studios within the space

Open Gym Space with top-tier strength and cardio equipment

Elite Personal Training

Recovery & Wellness Amenities

Nike – Structural Innovation for a New Flagship Store

The new Nike space spans 17,000 SF and began as a raw shell space that was never fully leased. Its transformation included:

Major structural demolition and reconfiguration

Installation of a brand-new elevator

Slab openings and infills for layout optimization

A new storefront redesign to reflect Nike’s brand identity

This extensive overhaul set the stage for a bold and immersive retail experience at the new Canadian flagship store.

Mango – Spanish Fashion Meets a Fast Fit-Out

The 4,300 SF space for Mango was the first to complete its buildout. After receiving the shell space from First Capital, Mango began:

Custom interior construction

Brand-specific layout and finishes

Rapid execution to bring their fashion-forward concept to life

This swift transformation exemplified how shell spaces empower retailers to move quickly and creatively.

First Capital’s Collaborative Construction: Speed and Efficiency

Our integrated team structure is a core strength. By bringing our in-house construction, development, operations, and leasing teams together, we streamline deal execution, coordinate project schedules, and manage work scopes seamlessly for both our company and tenants. This collaborative approach not only accelerates the process but also builds strong, lasting relationships with our tenants—from the very first conversation through construction and ongoing operations.

Just like our integrated team structure, One Bloor East is a perfect example of how we focus on bringing an integrated tenant mix that is curated specifically for the demographic surrounding our properties.

Interested in leasing a space with us? Look for the perfect space that suits your needs by visiting our list of properties

On November 28, 2024, First Capital REIT in partnership with RBC, Canadian Tire, and Quinn+Partners hosted the Collaboration for Climate Action Forum in Toronto, which was attended by 60 senior representatives from 14 Canadian retail tenants, 9 real estate property owners and three industry associations.

The Forum’s vision is to unite Canadian retail leaders to accelerate the journey to net-zero through collaboration and innovation.

Click through the interactive roadmap below to learn more about the five key challenges we discussed and the six pathways with clear, actionable steps we can take to address current challenges and accelerate the journey toward net-zero.

Climate Action Roadmap

Introducing 1071 King Street West: First Capital and Hullmark’s new mixed-use development featuring an iconic flatiron design, a neighbourhood park, a convenient new extension of the West Toronto Railpath, and more! The completed building will span 14 storeys, comprised of 227 purpose-built rental residential units, an abundance of amenities, and approximately 6,000 square feet of new retail space fronting along the busy King Street West corridor. This stylish development is designed to pay homage to Liberty Village’s industrial history, while incorporating modern architectural elements that are sustainably focused. We’re proud to be a part of the neighbourhood’s ongoing growth and revitalization, with 1071 King Street West creating a new gateway into Liberty Village.

Rendering of 1071 King St. West

Our Partnership with Hullmark

When we first purchased the property, our initial interest was sparked by its strategic location in the middle of our larger Liberty Village portfolio and its proximity to our head office. In addition to being one of the last remaining development sites along this dense corridor, the site has terrific transit adjacency, vehicular access, and great proximity to neighbourhood amenities.

In 2018, we partnered with Hullmark, a private real estate investment and development firm specializing in mixed-use developments in downtown Toronto. 1071 King Street West marked our first strategic partnership with Hullmark, having recently finalized our second joint venture partnership with the acquisition of 102 Atlantic Avenue in Liberty Village. Hullmark also owns and manages several properties in the Liberty Village neighbourhood, so our aligned vision for the area makes for a successful partnership.

Hullmark is excited to partner with First Capital on this new flatiron project! We look forward to bringing new residential and retail opportunities to the Liberty Village neighbourhood, and look forward to seeing this project come to fruition.
– Charles Arbez, Director, Development at Hullmark

Rendering of 1071 King St. west from the Railpath

Iconic Design Features

In designing the building, we were inspired by the property’s unique triangular shape bounded by King Street West to the north and the Metrolinx GO Train corridor to the south. Together with the design architect BDP Quadrangle, we decided to take advantage of the site’s shape and develop a new iconic landmark for Liberty Village.

Did you know there’s only a handful of flatiron-shaped buildings in Toronto? 1071 King Street West will be the first of its kind in Liberty Village.

Paying homage to the rich industrial history of Liberty Village, this stylish building will feature a red brick facade and punched windows – respecting the neighbourhood’s heritage character. Not only does the building’s façade pay tribute to the area’s brick and beam warehouse-style buildings, but it also helps to mitigate heat loss, reducing the building’s total energy consumption and ecological footprint. Additionally, this project will incorporate a geothermal system that will provide sustainable heating and cooling for the entire building. First Capital is committed to incorporating ESG principles in all of our projects as outlined in our 2020-2024 ESG Roadmap.

Did you know geothermal systems harness the earth’s natural underground temperatures and results in net zero emissions?

In addition to its historical design and ESG focus, 1071 King Street West will also feature key public realm amenities including a new public park and community gathering spot. It will also tie into a planned extension of the West Toronto Railpath that will better connect the neighbourhood and increase its accessibility to the city’s west end. The planned Railpath extension will conveniently link Liberty Village to the new SmartTrack GO station planned near First Capital’s King High Line project to the west. Ultimately, the project will take advantage of this unique public amenity and connectivity opportunity, attracting more residents to the neighbourhood.

Aiding Toronto’s Housing Supply Shortage and Rejuvenating Liberty Village

This iconic flatiron landmark will work to better serve the neighbourhood through its integrated city mobility, new retail space for everyday shopping, and the introduction of purpose-built rental housing amidst Toronto’s ongoing housing supply shortage.

1071 King Street West is part of our significant Liberty Village portfolio which includes over 500,000 sf of retail and commercial GLA, along with over 500 existing rental residential units. To complement and enhance our portfolio, we identified a further need for well-designed, amenity-rich residential rental space in Liberty Village. 1071 King will differentiate itself given its unique design, public realm, and convenient location.
– Jennifer Arezes, Vice President, Development, First Capital

This project aligns with our super urban strategy of creating vibrant mixed-use neighbourhoods that meet the needs of everyday urban life – bringing together people, public spaces, retail shopping and services, public art, and access to public transportation. Our 1071 King Street West flatiron development is our next pursuit in doing so as we continue our contribution in helping Liberty Village thrive. We couldn’t be more excited for the future of this neighbourhood and are proud to be a part of its ongoing growth.

Currently, we expect to begin construction by the end of 2022 and anticipate the completion of this project by 2025.

More updates to come!

A special thank you to the following Project Team:

Planning:
Mike Bissett – Bousfields
Katie Hickey – Bousfields

Landscape:
Sibylle Von Knobloch – NAK

Interiors:
Anwar Mekhayech – Design Agency

Municipal Legal:
Eileen Costello – Aird & Berlis

ESG:
Adam Alaica – GeoSource Energy Inc.

Architecture:
Richard Witt – BDP Quadrangle
Michelle Xuereb – BDP Quadrangle
Carlos Antunes – Kirkor Architects

Civil:
Chris Follet – WSP
Pouya Hagshenas – WSP

Construction: Terry Olynyk – Multiplex

Transportation: Warren Chow – BA Group

Tucked into the heart of Toronto’s waterfront, Cuckoo Cakery is more than just a cake shop – it’s the story of a childhood dream turned reality. Maidie, Founder and Head Pastry Chef, started the bakery with Peter, Co-Owner, and since opening its doors at Bayside Village in September 2023, it has quickly become a local favourite.

From Childhood Passion to Culinary Craft

For Maidie, baking has always been second nature. At just seven years old, she knew she wanted to open a cake shop. Despite having a career in forensic accounting, her passion for baking never faded. “I told my mum I wanted to open a cake shop,” Maidie recalls. “She asked why, what’s wrong with forensic accounting? Then I let her try my chiffon cake and that changed everything.” With her mum’s full support, Maidie set out to turn her passion into a business, creating a space that reflects both her culinary artistry and her values.

A Menu That Marries Tradition and Innovation

The menu at Cuckoo Cakery is a balance of classic favourites and globally inspired flavours. Guests can find light and fluffy chiffon cakes, rich cheesecakes, and small-batch pastries paired with drinks like matcha lattes and refreshing summer coolers.

True to their philosophy, Maidie and Peter focus on using only natural ingredients. “We avoid artificial colours, flavours, and preservatives,” says Peter. “Local ingredients that we can have access to is the most important part of the recipe.”

Cuckoo Cakery’s menu takes inspiration from Maidie and Peter’s travels to Japan, Hong Kong, and Europe, bringing unexpected flavours and combinations like Longan Banana Bread and goji berry carrot cake. Each bite offers something familiar yet delightfully new.

A Bakery That Feels Like Home

Beyond their cakes, Cuckoo Cakery has become a gathering place for the community. “It’s not just a transaction,” Peter explains. “The customers come here [Cuckoo Cakery] for the social aspect as well.”

The shop offers a warm, welcoming space where people gather, chat, and savour the moment, making it a true community-focused bakery and local pastry shop.

Why Bayside Village?

Maidie and Peter chose Bayside Village for its unique mix of potential and community. Nestled along the Toronto waterfront, the neighbourhood is rapidly growing with new condos and apartments, thriving local businesses, and popular Toronto tourist attractions just steps away. With its relaxed vibe and welcoming atmosphere, Bayside Village has become the perfect home for Cuckoo Cakery.

As the neighbourhood continues to flourish, Maidie and Peter are excited to grow alongside it. “We will be a greater part of this community,” they affirm, looking ahead with the same optimism and creativity that fuel their cakes.

Whether you’re exploring Toronto’s food scene or simply looking for a cozy spot to enjoy a slice of cake, Cuckoo Cakery is a must-visit destination at Bayside Village.

Learn more about Cuckoo Cakery on their website and Instagram!

At First Capital, we are committed to revitalizing our properties and curating a vibrant tenant mix to serve the neighbourhoods in which we operate. Our most recent property enhancement was completed at Cliffcrest Plaza in Scarborough, Ontario where we introduced a brand new space for No Frills Grocery Store.

Led by our construction and tenant coordination teams, the work involved merging two former units—previously an office space and a quick service restaurant. To create an open-concept layout for No Frills, we removed the dividing wall, marking the completion of demolition and the start of key landlord work.

Our design went beyond interior demolition. We upgraded electrical systems, modified the storefront, and adjusted the rear elevation to support better loading access. A key improvement was the installation of a new eight-foot loading door in a more efficient location, enabling smoother operations for the grocery store. We also added a new sign band across the storefront to visually align with neighbouring tenants such as Circle K, Dollarama, and Global Pet Foods—creating a cohesive and attractive streetscape.

As we neared completion of the shell space, we maintained close coordination with the incoming tenant. Introducing No Frills to Cliffcrest Plaza represents a meaningful change to the property and underscores First Capital’s commitment to providing curated necessity-based services while elevating the local shopping experience. Throughout the project, our team was actively involved to ensure a smooth transition from planning to construction.

Welcome to Cliffcrest, No Frills!

A Day in the Life of Puptown Grooming Salon: A Family Business Success Story

Meet Emma Lafontaine and her mother, Susan Gillespie, the dynamic duo behind Puptown Grooming Salon. With over a decade of experience in the dog grooming industry, Emma and Susan decided to venture out on their own, creating a family business that has become a beloved part of their community.

From Humble Beginnings to a Thriving Business

Starting a new business is never easy, and Puptown Groomers was no exception. The first few weeks were quiet, but word of mouth quickly spread, and soon they were overwhelmed with clients. Today, they have a long waitlist, a testament to their dedication and passion for dog grooming.

What Sets Puptown Grooming Salon Apart

Emma and Susan’s love for dogs is evident in every aspect of their business. They take their time with each dog, ensuring a calm and peaceful environment with soft music and aromatherapy. Their services range from nail clippings and ear cleanings to specialized care for anxious or disabled dogs. They avoid having multiple dogs in cages, focusing on one dog at a time to provide the best care possible.

Community and Camaraderie

Located conveniently off the highway at Plaza Baie d’Urfé, Puptown Groomers is part of a family-oriented area where clients can run errands at the shopping centre while their dogs are groomed. Clients can drop off their dogs and visit nearby stores like SAQ, dry cleaners, and Maxi for groceries, making it a convenient stop for busy pet owners.

Emma and Susan have built strong relationships with their clients and other local shop owners, creating a supportive community.

A Legacy of Care and Expertise

Emma and Susan are highly respected within the dog grooming industry, with in-depth experience in grooming all varieties of domestic and exotic dog breeds. They provide a vast array of specialty cuts and guarantee an unmatched grooming experience for your precious companion. Puptown Grooming Salon is also the recognized dog groomer for the dog rescue organizations GERDY’S and the SPCA.

Running a family business has its challenges, but for Emma and Susan, the rewards far outweigh the difficulties. Their bond with the dogs and their clients is what makes Puptown Groomers a special place.

Looking to the Future

The future looks bright for Puptown Groomers. Emma and Susan are considering expanding their services to include dog food, clothing, and accessories, and even opening a second location. They also see a growing demand for doggy daycare services.

As Emma and Susan continue to nurture and grow Puptown Groomers, their unwavering passion and dedication to providing exceptional care for their furry clients remain at the heart of their success. With plans for future expansion and an ever-increasing demand for their personalized services, the journey ahead promises to be as rewarding as it is exciting. Puptown Groomers stands as a place of quality and compassion in the dog grooming community, a place where every dog is treated with the love and respect they deserve.

Learn more about Puptown Groomers on their Website and Instagram!

Uniting Canadian retail leaders to support their climate initiatives through collaboration and innovation.

Why We Need to Take Action?

Since 1950, atmospheric carbon dioxide levels have surged dramatically, leading to unprecedented global temperature increases and record levels of greenhouse gas emissions in 2023. Climate-related natural disasters are on the rise, posing severe risks to the livelihood of millions globally and causing significant economic losses.

Buildings are the third-largest source of emissions in Canada, following oil & gas, and transportation. The industry’s current trajectory is insufficient to achieve net-zero emissions in Canadian buildings by 2050. We must increase the pace of retrofits and rethink how we design and construct new buildings.

Retail buildings present specific challenges. Due to the interconnected operational model of retail tenants and landlords, it is essential to collaborate to progress our respective climate initiatives and emissions reduction goals.

What is the Collaboration for Climate Action Forum?

On November 28, 2024, we hosted our second Collaboration for Climate Action Forum in collaboration with Canadian Tire, RBC and Quinn & Partners. The Forum brought together leaders from retail tenant and landlord organizations for a day of insightful discussions and collaborative efforts aimed at achieving a reduction of emissions faster.

The Forum is a unique gathering that focuses on fostering collaboration between retail tenants and landlords to tackle common challenges in the journey towards decarbonization. The event provided a platform for stakeholders to share innovative solutions, learn from each other, and brainstorm the many ways that all parties can work together to achieve intersecting decarbonization and net-zero goals.

This one day event has doubled in numbers since it was first held in 2022 and has significantly expanded in terms of individual stakeholder domains. Participation from retail landlords included FCR, CT REIT, Crombie, Choice Properties, Brookfield Properties, RioCan, Smart Centres, and Morguard. Retail tenants in attendance included Canadian Tire, RBC, Loblaws, Longo’s, Sobeys Dollarama, Scotiabank, BMO, Metro, TD Canada Trust, TJX, Empire Companies Ltd, and CIBC, along with industry associations REALPAC, BOMA Canada and the Retail Council of Canada. The individuals representing these organizations had a wide range of expertise, working across many different areas within the retail industry including, construction, development, leasing, legal, finance, building operations and sustainability.

The collective market cap of the companies at the Forum was over $900 billion, a 55% increase since 2022. The total GHG footprint represented also rose from 2 million tonnes of greenhouse gas emissions in 2022 to over 3.6 million tonnes due to increased participation and more buildings being included in scope.

The significant interest from our retail peers and tenants in the Forum demonstrates a shared view that collaboration is a viable strategy to decarbonizing retail buildings and the industry is open to new ways of thinking.
Melissa Ferrato, Vice President, ESG, First Capital REIT

What was accomplished?

The day began with attendees networking to connect and prepare for the sessions ahead. Next, a keynote address provided a comprehensive overview of both the urgency and business case for decarbonization. The address also highlighted upcoming regulatory changes and trends in the market, technology, and real estate ecosystem.

A panel session followed, featuring representatives from FCR, RBC, Canadian Tire and CT REIT. This session provided valuable insights into real world solutions and strategies. The facilitated panel discussion and audience Q&A allowed for an engaging exchange of ideas and experiences.

Panelists shared their successes and lessons learned from pilot projects and initiatives, offering attendees a glimpse into the future of collaborative decarbonization efforts. One such initiative is a formal collaboration between FCR and RBC to decarbonize RBC branches located at FCR properties. As discussed during the panel, First Capital and RBC have agreed to prioritize the installation of lower emissions generating HVAC equipment across their leased spaces through the process of electrification. This collaboration supports both organizations in their goal to reduce greenhouse gas emissions.

Landlords are a significant stakeholder in our journey to reduce emissions and that’s why I’m excited to share that RBC will be collaborating with First Capital REIT with respect to the decarbonization of commercial retail properties.As a major landlord that operates several RBC branch locations, the collaboration with First Capital is important in addressing RBC’s operational emissions controlled by landlords, and a signal to the marketplace that this should be a priority. I anticipate engagement like this will help drive more climate action in the real estate sector.
Jon Douglas, Director, Global Climate & Sustainability Operations, RBC

In the afternoon, participants split into groups to brainstorm actions for significant carbon reductions by 2025-2030. They tackled five key challenges faced by landlords and tenants in reducing greenhouse gas emissions.

Summary of the five key challenges:

High Capital Requirements and Uncertain Financial Returns: Decarbonizing buildings often requires substantial upfront investment, particularly for large-scale retrofits and electrification. Many landlords and tenants struggle to justify these costs, as short-term financial returns may not meet hurdle rates or justify the long-term environmental benefits. This challenge is exacerbated if there is not a clear business case for decarbonization, limited incentives, higher interest rates, and insufficient tax or financing mechanisms to ease the financial burden.

Complexity of Data Collection and Data Management: Consistently tracking and reporting energy use and emissions data is challenging. Many times, landlords and tenants do not have access to whole building data. Data collection practices, cadence and systems often vary, making it difficult to accurately measure progress and set actionable goals. This lack of standardized, timely and high-quality data limits both landlords’ and tenants’ ability to make informed decisions about where and how to invest in emissions reduction.

Dependency on Tenant – Landlord Cooperation and Cost-Sharing Barriers: Decarbonization in tenant-controlled spaces requires close collaboration between landlords and tenants and the sharing of investment costs and operational savings, but long-term leases and existing cost structures make cooperation challenging. Many tenants may be reluctant to invest in an asset which they do not own, and landlords do not achieve financial payback on operational savings. Landlords may also lack leverage to mandate energy efficiency and decarbonization efforts in tenant spaces. This creates a gap in achieving whole-building emissions reduction.

Grid Decarbonization and Capacity Limitations: Building electrification depends on the availability of low-carbon electricity and grid capacity, which vary by region. Limited electric grid capacity in certain areas restricts the potential for large-scale electrification. In addition, many shopping centres are already experiencing capacity constraints due to installation of EV chargers. This uncertainty can deter investment in electric-based technologies, as landlords and tenants are unsure if the grid will support future low-carbon needs.

Competing Priorities and Limited Internal Resources Impede Landlord – Tenant Collaboration: Decarbonization planning is time-intensive and requires a coordinated effort across multiple departments as well as robust engagement between landlords and tenants. Internally, both landlords and tenants have competing priorities, limited staff dedicated to sustainability and external stakeholder engagement, as well as internal stakeholders who may lack buy-in or expertise in decarbonization. These factors create challenges for effective collaboration, slowing progress on decarbonization initiatives that demand both independent and joint action.

By day’s end, participants regrouped to discuss breakout session results, gaining a deeper understanding of the proposed solutions and their potential impact. The Forum concluded with a recap, as attendees continued to network and review results, fostering collaboration and relationship-building.

We are proud to convene such an influential group of retail leaders. We know that we cannot solve climate change by working in individual silos. Our hope is to build a collaboration model that can be adopted in other industries too.
Francisca Quinn, Founder and President, Quinn+Partners

Taking Action Through Collaboration

The 2024 Collaboration for Climate Action Forum focused on decarbonizing Canadian retail real estate, offering insights into pilot projects on data, technology, and regulatory cooperation. It served as a platform for shaping future industry standards through engagement with various stakeholders. Sessions aimed at generating collaborative solutions facilitated the development of strategies for achieving lower GHG emissions. As the industry works towards lower emissions, the insights and collaborations from this Forum are expected to influence its progress.

A report summarizing the breakout group solutions and next steps will be released to participants in early 2025.