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TORONTO, June 15, 2022--(BUSINESS WIRE)--DREAM UNLIMITED CORP. (TSX: DRM) ("Dream Unlimited" or "Dream") announced today the publication of Dream’s 2022 Impact Report, which showcases our impact initiatives across the Dream platform and continued commitment to being a leader in impact and ESG investing.
"Our 2022 Impact Report highlights our significant progress across our three core impact verticals – environmental sustainability and resilience, attainable and affordable housing, and inclusive communities," said Michael Cooper, Chief Responsible Officer. "We continue to work closely with governments and lenders to create innovative solutions to address the ongoing issues facing our society while generating market returns for our investors. With nearly $4 billion in impact assets under management, we believe that our world-class portfolio can drive positive changes in our communities over the near and long term."
Highlights from the 2022 Impact Report:
Use of the Dream Impact Management System (DIMS) has expanded beyond Dream Impact Trust and Dream Impact Fund and now includes Dream Office REIT assets and selected Dream Unlimited assets. In total we now have $3.8 billion of impact assets under management which will grow rapidly given our pipeline of opportunities.
Sustainability – Dream has significantly expanded its efforts to address climate change. We now have an industry-leading net zero GHG emissions commitment by 2035 – fifteen years ahead of science-based targets and a detailed action plan to support it. We have committed $171 million in capital expenditures to decarbonize 18 existing buildings and are Canada’s largest developer of new net zero communities with $6 billion worth of projects at Zibi, LeBreton and Quayside.
Affordability – Dream more than doubled its portfolio of affordable housing units to 2,530 units. Upon completion, residents in our portfolio will save a combined $42.4 million annually.
Inclusivity – As part of our commitment to building inclusive communities, we have launched the Dream Community Foundation to support programming initiatives in our communities. In addition, Dream has created an industry-best Social Procurement Strategy to ensure the benefits of our spending on real estate activities flow to traditionally under-represented groups – an initiative for which Dream was recently given a Diversity in Leadership award from the Toronto Community Benefits Network.
About Dream Unlimited Corp:
Dream Unlimited is a leading developer of exceptional office and residential assets in Toronto, owns stabilized income generating assets in both Canada and the U.S., and has an established and successful asset management business, inclusive of $16 billion of assets under management across four Toronto Stock Exchange listed trusts, our private asset management business and numerous partnerships. We also develop land and residential assets in Western Canada. Dream expects to generate more recurring income in the future as its urban development properties are completed and held for the long term. Dream has a proven track record for being innovative and for our ability to source, structure and execute on compelling investment opportunities.
This press release may contain forward-looking information within the meaning of applicable securities legislation, including, but not limited to, specific statements in respect of Dream’s commitment to being a leader in impact and environmental, social and governance investing; Dream’s work with governments and lenders to address societal issues while generating returns; the belief that Dream’s portfolio of impact assets can drive changes amongst communities; Dream’s commitment to reach net zero greenhouse gas emissions by 2035; Dream’s capital commitments to decarbonize its buildings and new projects and development plans for net zero communities, including Zibi, LeBreton and Quayside; Dream’s affordable housing plans and expected rent savings resulting from such portfolio; the initiatives of the Dream Community Foundation; and the implementation of and expected benefits from Dream’s Social Procurement Strategy. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Dream’s control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, general and local economic and business conditions, the impact of the COVID-19 pandemic on Dream and uncertainties surrounding the COVID-19 pandemic, employment levels, risks associated with unexpected or ongoing geopolitical events, including disputes between nations, terrorism or other acts of violence, international sanctions and the disruption of movement of goods and services across jurisdictions, regulatory risks, mortgage rates and regulations, environmental risks, consumer confidence, seasonality, adverse weather conditions, reliance on key clients and personnel and competition. All forward-looking information in this press release speaks as of the date of this press release. Dream does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required by law. Additional information about these assumptions and risks and uncertainties is disclosed in filings with securities regulators filed on SEDAR (www.sedar.com).
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Dream Unlimited Corp.
Chief Financial Officer
Director, Investor Relations