Published: December 2024
Organization: Business Development Bank of Canada (BDC)
Format: Article
Estimated Reading Time: ~8 minutes
Why We Recommend It?
This article tackles a central question for many building owners and developers pursuing sustainability: Should we retrofit or start fresh? Recognizing that there is no clear answer, BDC breaks down the decision-making process with clear, business-focused considerations and emphasizes taking a whole-building life cycle analysis on cost, emissions, and performance. It also provides some tips and resources for both pathways to be carried out successfully.
Though primarily written for building owners, this article provides helpful insights to all practitioners who may be involved in any existing building projects with sustainability goals.
Key Takeaways
For Building Owners & Developers
- Presents a cost-benefit framework for comparing new construction and retrofit pathways.
- Highlights key factors like building condition, energy performance, and operational vs. embodied carbon in making informed decisions.
- Stresses the importance of whole-building approach and life-cycle cost assessment in long-term planning.
For Designers & Consultants
- Supports consultants in advising clients on early-stage strategy, particularly how to align project goals with sustainability and financial outcomes.
- Frames retrofit vs. rebuild as not only a technical question, but a strategic one, shaped by building use, budget, energy targets, and carbon considerations.
Next Steps & Related Reading...
- Want to know how building to certifications can help? Check out our Building Certifications section to learn about the most popular certifications in Canada.
- Want to learn more about operational carbon vs. embodied carbon? Explore the Embodied Carbon & Life Cycle Assessment section to understand the full emissions picture.