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Brookfield’s 224 office, retail properties receive WELL rating

Office and retail portfolios developed and operated by Brookfield Properties (BPY-UN-T) have rece...

Brookfield Properties has achieved IWBI’s WELL Health-Safety Rating. Photo courtesy IWBI

Office and retail portfolios developed and operated by Brookfield Properties (BPY-UN-T) have received International WELL Building Institute’s (IWBI) coveted Health-Safety Rating.

With nearly 100 office locations encompassing more than 75 million square feet in 10 markets in Canada and the U.S., Brookfield’s office portfolio is now the largest to achieve the rating.

Combined with its office space, Brookfield operates 114 shopping centres, making up more than 200 million square feet, all of which have now received the WELL Health-Safety Rating.

“Creating healthy buildings and spaces has been a top priority for us for many years, and today, it’s more important – to us, our tenants and our visitors – than ever before,” Bill Powell, managing partner, Brookfield Property Group and COO, Brookfield Properties, said in a release.

“We have responded accordingly, installing or improving on the latest systems and programs to ensure a healthy and safe environment at our office and retail properties. The WELL Health-Safety Rating is an important validation of those efforts, and we are proud to have achieved it across 200 million square feet of office and retail space.”

Brookfield Properties, which develops real estate investments on behalf of Brookfield Asset Management, operates properties in Calgary, Toronto, New York, Los Angeles, and several other major U.S. markets.

“Brookfield Properties has long prioritized the health and wellness of its buildings and spaces, and when the pandemic began, we went even further to ensure we were implementing the latest systems and programs to promote healthy and safe environments,” said Andrew Brent, senior vice-president, head of communications, U.S. office division for Brookfield Properties, in an email to Sustainable Biz Canada.

“The WELL Health-Safety Rating will serve as another way for us to communicate that to existing and potential tenants and visitors to our properties.”

WELL Health-Safety Rating

IWBI focuses on deploying people-first places to advance a global culture of health with the use of its WELL Building Standard and Health-Safety Rating.

To achieve the WELL Health-Safety Rating, a building must meet operational strategies and protocols that emphasize the health and well-being of its occupants.

In Brookfield’s case, the developer has launched several initiatives to garner the rating, including testing to evaluate HVAC system performance and water system inspections.

The company has also enacted advanced indoor air quality and drinking water testing, physical distancing strategies, and wellness programming for building communities.

“Brookfield Properties’ leading efforts to earn the WELL Health-Safety Rating underscores the important role that buildings, and those who own and operate them, can play in supporting people’s health, safety, and well-being,” said IWBI president and CEO Rachel Hodgdon in a release.

“We are proud to celebrate this achievement with Brookfield Properties as they lead the way toward a healthy, resilient recovery and help drive transformative action in North America and globally.”

IWBI’s rating provides a centralized source and governing body as a third party to validate the efforts of owners and operators.

As IWBI founder Paul Scialla said in a release, WELL Health-Safety Rating locations now exceed 1.8 billion square feet in over 80 countries.

“It’s clear that healthy buildings are becoming a key asset in real estate portfolios worldwide,” he said, “and Brookfield is at the forefront of the effort to help the global economy get back to business with confidence.”

Brookfield Properties

Originating in Montreal, Brookfield manages over 675 properties totaling more than 320 million square feet of space across the globe, with another over 40 million square feet under development.

With its headquarters in New York, the company’s portfolio includes office space, multi-family buildings, hotels, and retail locations.

Brookfield says it is committed to reducing waste, saving energy, and managing resources, and builds with LEED Gold Standards in mind to achieve its sustainability goals.

The company says 100 per cent of its core developments meet LEED Gold Standards or higher. It also says 99 per cent of its core office space have a sustainable design and 73 million kWh of electricity for its locations has been generated from solar.

LEED (Leadership in Energy and Environment Design) provides a green building rating program that certifies projects worldwide.

Brookfield has 14 properties in Ontario and eight in Calgary, in addition to 498 locations in the U.S.

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