--- title: "Capital Tower: A Beacon of Sustainability and Community Revival in Edmonton" description: Construction is underway at Avenue Living’s Capital Tower in Edmonton, a mixed-use multi-family and commercial property. image: https://al.avenuelivingam.com/hubfs/ALAM-23-Social-CapitalTower-JL-v1-FB-LI-Shared_Organic-1200x628-1.jpg-1%20copy.webp --- [![AvenueLiving](https://al.avenuelivingam.com/hubfs/raw_assets/public/AvenueLiving_November2023/Images/headerlogoavenue.svg "AvenueLiving")](https://www.avenuelivingam.com/) [![AvenueLiving](https://al.avenuelivingam.com/hubfs/raw_assets/public/AvenueLiving_November2023/Images/avenue-colorlogo.svg "AvenueLiving")](https://www.avenuelivingam.com/) - [Funds](https://avenuelivingam.com/funds/core-trust/) - [Core Trust](https://www.avenuelivingam.com/funds/core-trust/) - [Opportunity Trust](https://www.avenuelivingam.com/funds/opportunity-trust/) - [Farmland](https://www.avenuelivingam.com/funds/farmland/) - [Mini Mall Storage Properties Trust](https://www.avenuelivingam.com/funds/mini-mall-trust/) - [Team](https://www.avenuelivingam.com/our-team/) - [Careers](https://www.avenuelivingam.com/careers/) - [Resources](https://www.avenuelivingam.com/insights/) - [Responsibility](https://www.avenuelivingam.com/responsibility/) - [Environment](https://www.avenuelivingam.com/environment/) - [Social](https://www.avenuelivingam.com/social-impact/) - [Governance](https://www.avenuelivingam.com/governance/) - [About](https://www.avenuelivingam.com/about/) - [Contact](https://www.avenuelivingam.com/contact/) Investor Portal [Exempt Edge Investor Portal](https://avenuelivingam.exemptedge.com/login) [Avenue Living Investor Portal](https://investor.avenuelivingam.com/) [How to Invest](https://www.avenuelivingam.com/how-to-invest/) × - Funds - [Core Trust](https://www.avenuelivingam.com/funds/core-trust/) - [Opportunity Trust](https://www.avenuelivingam.com/funds/opportunity-trust/) - [Farmland](https://www.avenuelivingam.com/funds/farmland/) - [Mini Mall Storage Properties Trust](https://www.avenuelivingam.com/funds/mini-mall-trust/) - Team - [Team](https://www.avenuelivingam.com/our-team/) - [Careers](https://www.avenuelivingam.com/careers/) - [Resources](https://www.avenuelivingam.com/insights/) - Responsibility - [Responsibility](https://www.avenuelivingam.com/responsibility/) - [Environment](https://www.avenuelivingam.com/environment/) - [Social Impact](https://www.avenuelivingam.com/social-impact/) - [Governance](https://www.avenuelivingam.com/governance/) - [About](https://www.avenuelivingam.com/about/) - [Contact](https://www.avenuelivingam.com/contact/) - [Investor Portal](https://avenuelivingam.exemptedge.com/login) - [How to Invest](https://www.avenuelivingam.com/how-to-invest/) 01/22/2024 # Capital Tower: A Beacon of Sustainability and Community Revival in Edmonton ![Capital Tower: A Beacon of Sustainability and Community Revival in Edmonton](https://al.avenuelivingam.com/hubfs/ALAM-23-Social-CapitalTower-JL-v1-FB-LI-Shared_Organic-1200x628-1.jpg-1%20copy.webp "Capital Tower: A Beacon of Sustainability and Community Revival in Edmonton") On the periphery of Edmonton’s downtown core sits a 12-storey, 179-unit building that Avenue Living is transforming into a modern, affordable, and sustainable multi-family residential and commercial building.  Built in 1970, Capital Tower is located at the gateway to the city’s Chinatown district. And as with so many buildings of its vintage, it’s due for a refresh. Upon completion, the building will provide warm, inviting homes to the vibrant surrounding community.   **Art Meets Sustainability**  Capital Tower’s revitalization focuses heavily on sustainability and reducing its environmental footprint — measures that will also provide an improved living experience for residents. Most notably, this project will include the largest vertical array of solar panels ever proposed in North America — one that also doubles as a stunning piece of art.   The north face of the building will be home to a 26-metre (85-foot) tall mural designed and illustrated by Edmonton Indigenous artist [Lance Cardinal](https://www.soulflamecreativeservices.com/the-team). The mural represents the unity, coexistence, and cultural similarities between First Nations and Chinese Cultures using imagery from the Cree seven sacred grandfather teachings and the Chinese zodiac. Thanks to technology from solar panel innovator [Mitrex](https://mitrex.com/), the landmark artwork also harnesses the energy of the sun to help power the building.   Beneath the solar façade, new insulation on the building’s exterior walls — which will add an R-value of 12 — will improve the efficiency of the interior. Coupled with new triple-glazed windows, the measures will help keep residents comfortable year-round and allow the heating and cooling systems to run more efficiently.  But the upgrades don’t stop with the building’s exterior.  “We’re making improvements to almost every building system in order to reduce greenhouse gas emissions,” says [Neal Shannon](https://www.avenuelivingam.com/team/neal-shannon/), Avenue Living’s Senior Vice President, Capital Projects.   **A Broader Commitment to ESG**  These improvements are part of our broader commitment to environmental, social, and governance (ESG) initiatives across our portfolio. This approximately $26 million project is made possible thanks to favourable financing terms with BMO. The arrangement allows us to access funds from both BMO and the [Canada Infrastructure Bank (CIB)](https://cib-bic.ca/en/) to complete the green retrofits, which meet CIB’s Environmental Consumption Measures (ECMs).   “This project is separate from [Avenue Living’s partnership program with CIB](https://cib-bic.ca/en/medias/articles/cib-commits-120-million-to-avenue-living/),” notes [Daniel Veniot](https://www.linkedin.com/in/daniel-veniot-7869743b/), Associate Vice President, Capital Markets — Debt. “But BMO has its own relationship with the CIB, allowing us to access advantageous lending terms through their programs. Together, these terms will allow us to offer residents upgraded suites at fair market prices, so we can continue to serve our target demographic.”  Meeting the CIB’s ECMs also allows us to take part in the Canada Mortgage and Housing Corporation’s (CMHC) multi-unit loan insurance project, MLI Select. [MLI Select](https://www.cmhc-schl.gc.ca/professionals/project-funding-and-mortgage-financing/mortgage-loan-insurance/multi-unit-insurance/mliselect) is a points system that offers insurance incentives based on affordability, energy efficiency, and accessibility. “This project qualifies for MLI Select based on the environmental upgrades alone,” says Veniot.  **Building Comfort and Community**  The renovations and retrofits are designed to improve the experience for those who call the building home. The property will have features and amenities that foster community, including a rooftop garden, library, games and movie room, fitness centre, storage area, and refurbished commercial space on the main floor.   The in-suite upgrades will provide increased comfort for residents while contributing to emissions reductions. Heat pumps in each suite — along with smart thermostats — will allow residents to accurately control the temperature of their environment through both heating and cooling. The addition of new makeup air units also helps improve air circulation throughout the building, eliminating cooking odours, improving air quality, and keeping temperatures more even throughout the space. These measures all contribute to improved health for occupants, according to the [Canada Green Building Council](https://www.avenuelivingam.com/insights/retrofits-housing-supply/).  Other improvements include LED light fixtures in both common areas and suites, modernized elevators, and updated bathrooms and kitchens. Taken together, the renovations all contribute to an elevated experience for future residents.   **A Community on the Rise**  The result will be a high-quality, safe, affordable and comfortable property that contributes to the revitalization of the surrounding community. In recent years, the area has seen renewed education, hospitality, and entertainment options. The building is within walking distance of the ICE District (Edmonton’s entertainment hub), Epcor Tower (one of the newest AA office buildings in the city), and Grant MacEwan University. It’s also close to transit lines which gives residents easy access to the University of Alberta and other business districts. Nearby, the Station Lands development is revitalizing an underused part of the downtown core, transforming it into a vibrant, walkable community.  The project, which is already underway, is set to be completed in late 2024. We’ll provide regular, more detailed updates here, so follow along for the full story as it unfolds.     *This commentary and the information contained herein are for educational and informational purposes only and do not constitute an offer to sell, or a solicitation of an offer to buy, any securities or related financial instruments. This article may contain forward-looking statements. 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I agree to the Terms and Conditions Accept --- ## Related Posts It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. --- [Admin](https://al.avenuelivingam.com/the-blog/author/admin) 30 September, 2026 #### [Extension of Strategic Review and Redemption Program Update](https://al.avenuelivingam.com/the-blog/extension-of-strategic-review-and-redemption-program-update) Mini Mall Storage Properties Trust September 24, 2026 [Read More](https://al.avenuelivingam.com/the-blog/extension-of-strategic-review-and-redemption-program-update) [Admin](https://al.avenuelivingam.com/the-blog/author/admin) 30 September, 2026 #### [Strategic Review and Redemption Program Update](https://al.avenuelivingam.com/the-blog/strategic-review-and-redemption-program-update) AVENUE LIVING REAL ESTATE CORE TRUST September 24, 2026 [Read More](https://al.avenuelivingam.com/the-blog/strategic-review-and-redemption-program-update) [Admin](https://al.avenuelivingam.com/the-blog/author/admin) 22 June, 2026 #### [Mini Mall Storage Properties Trust Fiscal Q2 2026 Update](https://al.avenuelivingam.com/the-blog/mini-mall-storage-properties-trust-q2-2026-investor-update-call) In this update, Adam Villard (Chief Executive Officer), Aaron Facca (Chief Operating Officer), and… [Read More](https://al.avenuelivingam.com/the-blog/mini-mall-storage-properties-trust-q2-2026-investor-update-call) ![AL-20Years-HorizontalLogo-White](https://al.avenuelivingam.com/hubfs/AL-20Years-HorizontalLogo-White.svg "AL-20Years-HorizontalLogo-White") [![WPC-Top-Employers-webp](https://al.avenuelivingam.com/hs-fs/hubfs/WPC-Top-Employers-webp.webp?width=350&height=196&name=WPC-Top-Employers-webp.webp "WPC-Top-Employers-webp")](https://www.wealthprofessional.ca/best-in-wealth/best-wealth-management-firms-to-work-for-in-canada-top-employers/386971) ## Follow Avenue Living - [Funds](https://avenuelivingam.com/#AlternativeFunds) - [Core Trust](https://www.avenuelivingam.com/core-trust/) - [Opportunity Trust](https://www.avenuelivingam.com/opportunity-trust/) - [Farmland](https://www.avenuelivingam.com/farmland/) - [Mini Mall Storage Properties Trust](https://www.avenuelivingam.com/mini-mall-trust/) - [Explore](https://avenuelivingam.com/) - [Team](https://www.avenuelivingam.com/our-team/) - [Careers](https://www.avenuelivingam.com/carrers/) - [Resources](https://www.avenuelivingam.com/insights/) - [Responsibility](https://www.avenuelivingam.com/responsibility/) - [About](https://www.avenuelivingam.com/about/) - [Investor Relations](https://avenuelivingam.com/how-to-invest/) - [investor-relations@avenueliving.ca](mailto:investor-relations@avenueliving.ca) - [587.330.2509](tel:5873302509) - [How to Invest](http://how-to-invest/) - [Investor Portal](https://avenuelivingam.exemptedge.com/login) - [Legal](https://www.avenuelivingam.com/prospective-investors/) - [Disclaimer](https://avenuelivingam.com/disclaimer/) - [Corporate Structure](https://www.avenuelivingam.com/corporate-structure/) - [Forward Looking Statements](https://www.avenuelivingam.com/forward-statements/) - [Terms and Conditions](https://www.avenuelivingam.com/terms-and-conditions/) - [Privacy Policy](https://www.avenuelivingam.com/privacy-policy/) - [Cookie Policy](https://www.avenuelivingam.com/cookie-policy/) © 2023 Avenue Living. 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