Katie Franzios reports on the Tower Renewal project.

The city's executive committee gave a unanimous nod to the Mayor's 'Tower Renewal' pilot project, which was unveiled this morning.

The project will be tested out at four pilot sites around the city three privately-run apartment buildings and one Toronto community housing centre. These buildings are like many the plan is targeting - built in the 50s, 60s and 70s and made of concrete. There are close to 1000 of these types of buildings across the city.

Green retrofits will be installed in the concrete buildings, with hopes of saving over 50 percent in energy costs and with the help of zoning changes, the creation of parks, gardens and retail areas will revitalize communities, according to Mayor David Miller.

CFRB's Katie Franzios has this report.

The pilot project will be financed by property management companies or with energy retrofit funds that are already available. Miller says in eight or nine years, the green retrofits on the buildings will pay for themselves because of the money being saved on energy costs.

Despite some objections, committee members say the plan will improve the communities by bringing jobs to the area.