Camrost Felcorp Inc. Completes Drilling for Mississauga's Biggest Geothermal System​

At 66 Storeys, EX3 will be Province's Tallest Geothermal Powered Condominium

MISSISSAUGA, ON, April 7, 2021 /CNW/ - Camrost Felcorp Inc., the developer of the award-winning Exchange District mixed-use new community in downtown Mississauga today announced that the drilling of 186 geothermal boreholes, which will provide an alternative energy source to two of the four towers in the development, have now been completed making way for the commencement of shoring and excavation. The project will bring off-grid energy to the rental tenants in the development's purpose-built rental tower, as well as guests of the planned boutique hotel structure, and, the 650 suites in the 66-storey EX3 condominium tower.

In partnership with Diverso Energy, a Geothermal Energy Service Provider, the buildings will benefit from this low carbon heating and cooling solution which, unlike conventional systems, will not require heating boilers or rooftop cooling towers. Additionally, geothermal eliminates the need for natural gas for heating, ensuring Exchange District is a true development of the future.

The inclusion of EX3 in this power system makes it the tallest residential development in the province to feature this innovative geothermal-based approach to sustainable energy service.

"The Exchange District is an award-winning community, celebrated for its careful urban planning, distinctive architecture, and smart design, not to mention its unparalleled, transit-oriented location in the heart of the Mississauga's City Centre," notes Joseph Feldman, Vice President of Development at Camrost Felcorp. "But in today's real estate environment, we understand that those attributes are simply not enough for our market. Purchasers, renters, retailers and those who care about creating great communities, all agree that today's communities must also be environmentally sensitive, sustainable and conscientious."

According to Diverso Energy's co-founder and partner, Jon Mesquita, the company has partnered "with several real estate developers across the GTA in the last few years, helping them meet ever increasing new energy and carbon targets and purchaser demands for energy efficiency," adding that EX3, at 66-storeys, "will be the tallest condominium tower in the province to benefit from a geothermal heating and cooling system."

Further demonstrating Camrost Felcorp's commitment at the Exchange District to sustainability and the pursuit of innovative environmentally-friendly technologies, the developer today has also announced a partnership with Mitsubishi Electric to utilize the company's state-of-art Variable Refrigerant Flow (VRF) system.

Mitsubishi's proprietary City Multi water source VRF system revolutionizes the typical approach to HVAC systems in multi-residential towers, providing a premium HVAC solution typically seen in Class-A commercial settings, with features such as simultaneous heating and cooling as well as heat-recovery capabilities. While the heat recovery system has a greater initial cost, it allows for better zoned thermal control of a building and overall greater efficiencies, ultimately saving residents operating costs in a sustainable manner.

About Exchange District
Exchange District is a new urban master-planned community destination coming to downtown Mississauga. Comprising three condominium towers, a rental residence and hotel, the project has been recognized as critical urban element in the creation of the new Mississauga City Center. A multi-use community, Exchange District will boast more than 2-million square feet of coveted retail, shopping, dining, office and commercial spaces, a boutique hotel, new lush public parks and thoughtfully designed open spaces.

Camrost Felcorp
Camrost Felcorp has established its place as one of the foremost names in the development industry since 1976 by consistently leading the way in creating landmark condominiums, and is behind many of the Greater Toronto Area's most distinctive and memorable residential communities and commercial properties. Unique in design, each is built on a similar foundation of superior craftsmanship, a pre-eminent address, and a timeless style that is ahead of the industry.

Diverso Energy
With over 30 years combined experience, Diverso Energy is an industry leader in the design, construction, and operation of geothermal heating and cooling systems. Helping developers of multi-family and commercial office buildings achieve sustainability and energy reduction targets by offering a unique geothermal utility model converting the upfront costs to long term operational expense.

Mitsubishi Electric Sales Canada Inc.
Mitsubishi Electric Sales Canada Inc. was established in 1979 as a subsidiary of the Mitsubishi Electric Corporation of Japan. Since then, Mitsubishi Electric Sales Canada Inc. has been at the forefront of heating, cooling and ventilation technology, sales, installation, and service. With 100 years of experience in providing reliable, high-quality products to both corporate clients and general consumers all over the world, Mitsubishi Electric Corporation is a recognized world leader in the manufacturing, marketing and sales of electrical and electronic equipment used in information processing and communications, consumer electronics, industrial technology, energy, transportation and construction.
Boutique hotel? Did I miss this in previous announcements?
Yes, you did :)
There will be an office component as well.

"Exchange District is a new urban destination with more than 2 million square feet of coveted retail, shopping, dining, office and commercial spaces, boutique hotel, new lush parks and thoughtfully designed public spaces, modern condominium residences, and more…."
At the Exchange District, Camrost Felcorp purchased the almost four-acre site five years ago. At the time it contained a nine-storey, 90,000-square-foot, class-B office building. Now it is replacing that with a development destined to have 1.8 million square feet of density upon completion later this decade.

“When fully realized, the Exchange District will include almost 2,000 condominium residences, retail spaces, offices, a boutique hotel, an architecturally designed public piazza, community benefits and open public spaces, all served by rapid transit, instantly creating for Mississauga the urban downtown core it deserves and has been moving towards,” founder, president and chief executive officer David Feldman said in an email exchange.

Exchange District’s components​

Camrost Felcorp just broke ground on a 60-storey condominium called EX1 that will have retail at grade and be connected by a podium to EXS, a 31-storey purpose-built rental apartment building which will also include a hotel and 30,000 square feet of office space.

The developer is weeks away from breaking ground on the second phase of Exchange District, which will include a 42-storey condo called EX2, a rooftop restaurant and a grocery store.

The condo units in EX1 and EX2 are sold out.

A fourth piece will be a 72-storey residential building called EX3 that will be anchored by retail at grade and some office space. Joseph Feldman said EX3 is currently being contemplated for a condo that could launch sales by the middle of 2021.

The first three buildings are anticipated to be ready for occupancy in late 2023 and early 2024, with EX3 expected to follow in 2026.

“There’s more beyond that that’s in the pipeline,” said Joseph Feldman. “This is just what we’ve announced.”

Camrost Felcorp likes Mississauga and Toronto​


An artist’s conception of Exchange District in Mississauga, by Camrost Felcorp. (Courtesy Camrost Felcorp)
Exchange District is in the vicinity of Square One Shopping Centre, about 16,000 residential units and an office node, and Camrost Felcorp’s goal is to enhance the area with its “live, work and play” development.

“It’s currently the 16th largest city in North America, with one of the fastest-growing city centres in North America,” Joseph Feldman said in explaining why his company is so high on Mississauga and is adding to its landholdings there for future developments.

“From a job perspective, it has more Fortune 500 companies headquartered there than its big brother Toronto. It continues to attract a large portion of the immigrants that are coming to the GTA (Greater Toronto Area).”

Camrost Felcorp likes the GTA market overall because it has strong fundamentals, the company knows it well and it has a good understanding of the framework set up by the Ontario government’s A Place to Grow: Growth Plan for the Greater Golden Horseshoe.

“We think we’re in the right place in the greater scheme of things,” said Joseph Feldman. “For the foreseeable future we’re going to be focusing on helping add to the supply of housing and the stock of commercial in our very own Greater Toronto Area.”
I don't know what the larger story is but the story I'm following is "The Little Digger That Could." It's one machine. And it's doing it solo. God bless him it's getting a little deeper every day.
For new members here Jasonzed is no longer with us:

...R.I.P. /bows
Can anyone put into context the direction this is shot at. I’m so confused and am quite familiar with Mississauga.
The view is northwest of the site, looking towards Living Art Centre, and Sheridan College. The tallest buildings furthest northwest are purportedly to be Square One district.