Ontario’s Chief Energy Conservation Officer recognizes energy savings in 2,500 Park Property Management Rental Units across the GTA

Oct 2nd, 2007 10:09 AM

Media Release – For Immediate Release TORONTO: Ontario’s Chief Energy Conservation Officer recognizes energy savings in 2,500 Park Property Management Rental Units across the GTA Smart Sub-metering for rental suites a “Win-Win” for tenants and managers Program rolling out to remaining 5,000 rental suites in Toronto, Mississauga, Oakville, Etobicoke, Scarborough, Waterloo, Kitchener, Cambridge and Stratford (Toronto, October 2, 2007) Amid a crowd of tenants and other guests, Ontario’s first Chief Energy Conservation Officer, Peter Love, awarded Park Property Management and Stratacon Inc. his prestigious Certificate of Recognition for contributing to a culture of conservation in the province. The ceremony took place at Park Property’s Aurora apartments, an 800 unit community at Warden and Finch in Toronto. Last year, Park Property Management partnered with Stratacon to implement Stratacon’s Smart Sub-Metering Solution in 2,500 apartment suites within the GTA. The buildings switched from bulk metering, where tenants pay for their electricity as part of their rent, to being individually metered for electricity consumption. With sub-meters, each resident pays only for their own electricity use, and in return gets a reduction to their rent. “Individual metering helps tenants control their electricity use,” says Margaret Herd of Park Property Management. “When people are aware of their use, they can control it. They tend to use less – in most cases, between 15% and 40% less, and in our case, an average of 33% less. When tenants use less, they pay less, and no longer subsidize high-use tenants.” “Electricity conservation is important to Ontario and every person, business and institution in the province,” said Love. “Conserving electricity now is critical to ensuring that we can continue to enjoy a reliable supply in the future, it’s beneficial to the environment, and it makes good financial sense. Taking advantage of the benefits of Smart Sub-Meters helps contribute to a culture of conservation in Ontario.” Based on the success of the original 2,500 units, Park Property is rolling out the initiative to the remaining 5,000 units in their portfolio. Park Property has communities in Toronto, Mississauga, Oakville, Etobicoke, Scarborough, Waterloo, Kitchener, Cambridge and Stratford. Stratacon provided complete turnkey services including meter installation, consumption information for tenants, bill presentation and collection, as well as monitoring and verification. “Park is commended for taking this leadership role on their own initiative as a win-win proposition for tenants, the owners and the environment,” says Ian Stewart, President of Stratacon. “Park was willing to install smart meters well in advance of government direction.” - 30 - About the Chief Energy Conservation Officer: The CECO assumes leadership for developing and implementing energy conservation initiatives, advising on relevant government policy and targets for conservation, and educating and promoting energy conservation to all Ontarians. The CECO is an integral member of the Ontario Power Authority’s senior executive team. Media Contact: Media Hotline, 416-969-6307 About Stratacon: Stratacon is a full service utility management performance-contracting corporation that delivers comprehensive programs to the multi-residential and commercial markets throughout Canada. Media Contact: Sue Fautsch, 905-856-4001 x139 About Park Property Management: Park Property Management Inc. has been in the business of providing affordable, well-maintained living accommodation for over 25 years. At Park, where your comfort is our main concern, we offer superior service through our trained building and maintenance staff. We manage for investors who take pride in their properties and who are in the business for the long term. Our buildings are located throughout the Greater Toronto Area. Media Contact: 905-940-1718

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Ontario’s Chief Energy Conservation Officer recognizes energy savings in 2,500 Park Property Management Rental Units across the GTA

Oct 2nd, 2007 10:09 AM