Why Crown Gives Out Green Bonuses
Call it giving green to get green. Crown Realty Partners president Les Miller tells us his firm bases a portion of each employee's annual bonus on efforts to make Crown a more sustainable operation.
Sustainability is big business for Crown. The firm’s recent BOMA BESt evaluation ranked Crown's building portfolio 7% above its mid-market Ontario competitors that achieved certifications in 2013 (and 5.5% higher than the national average). The company punches above its welterweight by providing amenities like hybrid car charging stations, bike lockers and showers at all its properties, Les says. “We like to think we can deliver Class-A service in Class-B buildings” and the green bonuses make a "huge difference” by spurring Crown's 66 employees to do better.
Les cites 901 King St W as evidence of the sustainability strategy in action. When Crown bought the 251k SF building in 2011, it upgraded the space to lure creative companies. This meant covering up concrete with wood, exposing ceilings, adding bike storage and showers, plus a car-charging station and shuttle service from Union Station. Within 90 days of closing a 20k SF tenant was signed, Quadrangle Architects, and 110k SF more got leased in the first year to Deluxe, Spin Productions and Instaclick. And Crown just signed Twitter, which will have its Canadian HQ at the property. All tenants were drawn to the green amenities, Les says, noting Crown's entire portfolio—4.5M SF owned/managed—earned a Level 3 BOMA BESt score. Sustainability is "what we do.”