FirstService Residential, North America’s largest residential property management company, is expanding its affiliate FS Energy to nearly 100 of its managed properties in Florida.
The pilot program, which initially targets FirstService Residential properties from Miami to West Palm Beach, is expected to save approximately $11 million in combined costs over the next year.
FS Energy provides energy benchmarking and management programs exclusively to buildings in the FirstService portfolio. Its so-called Energy Report Card program benchmarks a building’s energy costs against those of similar buildings to identify solutions and opportunities for improvement.
Founded in 2010, FS Energy launched the in New York City, working in over 500 FirstService managed high-rise buildings.
To date, these programs have realized $19.3 million in savings and reduced these buildings’ carbon footprints 15.6 percent, according to David Kuperberg, chairman of FirstService Residential in New York, who spearheaded the creation of FS Energy.
“We are more than halfway towards our program goals with our New York portfolio, and we’re excited to see similar results as the FS Energy program expands to other key markets.”
The Florida rollout of FS Energy follows the program’s introduction to FirstService Residential’s Chicago portfolio earlier this summer.