What Differentiates KRP Properties?

Insights on sustainable practices and customer-first approach

Sustainability makes business sense. The rise of eco-consciousness has brought a new wave of responsibility to organizations. Sustainable practices and Environmental, Social, and Governance (ESG) targets are becoming integral to business strategy as they provide a framework for sustainable growth, enhance stakeholder trust, and contribute to the long-term success and resilience of businesses.

Operating in Kanata North, Canada’s largest technology park, KRP Properties have made sustainability a focus of their operations for years. With 31 buildings that currently offer more than 3.0 million square feet of Class A office space, and house more than 250 companies and 13,500 employees, the team works closely with their tenants and staff to implement innovative sustainable practices throughout their buildings.

We sat down with Terry Young, VP Operations at KRP Properties, who shared valuable insights into how KRP has differentiated itself in the competitive market of commercial real estate.

“We are different,” explained Terry. “We are different in the way we operate and how we look at our clients. It’s not a client-landlord relationship. It’s more like a partnership. Their needs are as important as ours. We ask: How can we work together to become better?”

There is a lot of talk in the property management world these days about the importance of being green, and rightly so. Commercial office buildings consume massive amounts of heat and light energy and have enormous carbon footprints.

While others are talking about sustainability, KRP Properties are actually doing something, and they have done so for years. Their KRP Green Plan is their own expression of sustainability. Simple, rigorous, and customized, the plan is unique to KRP Properties. It introduces metrics and targets that draw on their strengths and identify their weaknesses and contains action-oriented items that demand regular attention and oversight. Terry explained:

You can’t change what you don’t monitor. Many years ago, we started down the path of bringing our buildings online in an effort to run a better piece of real estate in terms of energy consumption and comprehensive ESG targets. We looked at each of our buildings to determine how we could run them in the most efficient way possible from an energy reduction perspective.

With building automation systems in place, along with specified zones and a multitude of IoT sensors, massive amounts of data are being generated. This enables the KRP team to understand how each of their buildings is burning energy – from a gas, water, and electricity perspective – and subsequently finetune their operations.

“Over time, our buildings are getting smarter,” commented Terry. Utilizing Artificial Intelligence and looking at how people move within the buildings and zones, energy reduction strategies are being automated to further drive efficiencies and reduce their carbon footprints.

Under the umbrella #KRPgreen, KRP Properties have implemented various sustainable practices to green their campuses. Examples include:

  • Waste management:
    • Commercial composting pilots
    • Robust recycling programs
    • Annual waste audits to ensure target of 60% waste reduction is being met or exceeded each year
  • Site operations:
    • Minimize construction waste
    • Delivery of best indoor air quality via ASHRAE standards
    • Implementation of Ozone-Depleting Substances Phase Out Plan
    • Nature first with focus on interior and exterior landscaping, walking paths, cycling trails, and park spaces
  • Energy:
    • Investment in variable frequency drives (VFDs) for hundreds of onsite pumps to reduce energy consumption
    • Heating and cooling on a tight schedule
    • Buildings that are BOMA Best Gold certified
  • Transportation:
    • Bike racks, secured indoor bike storage, and shower facilities
    • 58 charging ports for EVs
    • In-house fleet comprising of hybrid-electric vehicles
  • Purchasing:
    • Focus on products that are locally produced (where feasible), minimal packaging, recycled content, are reusable, are made with renewable resources, and contain the minimum percentage of hazardous materials for optimal air quality
  • Water conservation:
    • Regular tree planting (and onsite tree nursery) to protect outdoor water sources from evaporation and to further green the campuses and protect local wildlife
    • Capture of rainwater in strategically placed and engineered holding ponds to water the golf greens.
    • Water meters that track data trends and send automated message alerts for wastage

KRP Properties’ efforts towards building more sustainable and environmentally friendly spaces have paid off. Mechanical and electrical equipment upgrades at five of their properties in Kanata have met and exceeded Hydro and Energy conservation programs, resulting in over $650k in rebates. These funds are being reallocated back into these properties to drive further efficiencies throughout the years to come.

“We specialize in space, comfort, and energy,” said Terry. “And we work very collaboratively with those who have aggressive ESG targets. Several of our tenants have forged paths to net zero, which is fantastic to see and be a part of!”

Similar to their tenant base, KRP Properties see and treat their staff as partners as well. The team created #KRPMe as a clear and deliberate opportunity to serve their tenants and employees better than any other landlord. Terry concluded:

We provide More Than Just Space. We recognize our responsibility to develop, operate, and invest in properties that minimize environmental impacts.

Implementing sustainable practices can lead to significant cost savings, but additionally, organizations that prioritize sustainability are seen as ethical and responsible, leading to increased customer loyalty and a positive brand image – which in turn can drive employee retention and talent acquisition.

To learn more about KRP Properties and their sustainability efforts, visit krpproperties.com.

 

Wesley Clover invests in a range of technology companies, and they bring impressive innovation to markets and clients around the globe. I/O is our way of sharing some of the best insights. I trust you will enjoy them.

Terry Matthews, Chairman