Through its Climate Innovation Fund, Alberta Ecotrust is investing $1 million in Calgary’s downtown, supporting the city’s growing push for sustainable urban renewal.

The investment will go towards the Impact Mutual Fund Trust (Impact MFT), a new investment tool led by Astra Group. The MFT will provide the Astra Group with capital to continue its work in acquiring and retrofitting buildings for residential and commercial use. 

In 2024 Alberta Ecotrust invested in Astra Group’s Place 800 office-to-residential conversion project, which will provide energy-efficient housing while offering a portion of rental units at below-market rates.

With the Impact MFT, Astra will use a portfolio of five Calgary properties to secure capital more efficiently, allowing investors to diversify risk while earning steady returns. The fund is RRSP/TFSA-eligible, providing potential tax benefits for investors. The Impact MFT will generate returns that support Alberta Ecotrust’s community grants and environmental programs.

Alberta Ecotrust continues to work with Astra Group, as the company advances its sustainable housing initiatives. Astra has a proven track record in revitalizing existing building stock, with past projects including The Cornerstone and the nearly completed Petro Fina.

By increasing the housing supply and reducing the energy footprint of buildings, Astra is contributing to a more sustainable and equitable future for Calgary. This aligns with Alberta Ecotrust’s goal of supporting initiatives that generate environmental, financial and social benefits.

Studying energy efficiency

In addition to the investment, Alberta Ecotrust’s ENBIX team will collaborate with the Astra Group to analyze the Place 800 project’s energy efficiency and greenhouse gas (GHG) impact.

Over the coming months, the study will focus on:

• Assessing the embodied carbon in the building and improving impact communication;

• Analyzing GHG and energy reporting under different baseline scenarios; and

• Using infrared imaging to refine energy model assumptions about building envelope performance.

About Alberta Ecotrust’s impact investing

Through the Climate Innovation Fund, Alberta Ecotrust supports projects that align with Calgary and Edmonton’s climate action plans. By investing in sustainable solutions, the organization aims to scale up initiatives that reduce emissions and promote long-term urban resilience.

For more information, please contact:

Sid Roy, Impact Investment Director

Alberta Ecotrust Foundation