Three of Related Management’s New York affordable housing properties have been recognized by the U.S. Environmental Protection Agency (EPA) as being among the first multifamily housing properties to earn ENERGY STAR certification for superior energy performance.
The properties at 30-50 21st Street, 423 West 48th St and 527 West 47th St, have been recognized for reducing the amount of energy consumed.
With technical assistance from Bright Power, the three properties join just 14 others across the nation to make up the inaugural set of multifamily buildings to achieve the prestigious ENERGY STAR multifamily certification.
The recognition signifies that these pioneering properties are more energy efficient than 75 percent of similar properties nationwide. By reducing the amount of energy consumed, these properties will help cut utility bills for tenants and reduce greenhouse gas emissions associated with producing energy.
Current estimates show that multifamily properties can become 30 percent more efficient by 2020, unlocking $9 billion in energy savings and preventing annual greenhouse gas emissions roughly equivalent to the average annual output from over four million U.S. households.
“We are thrilled to be among the first owners recognized with the Energy Star multifamily certification. It is a great acknowledgement of our continued commitment to environmental responsibility across all asset classes and we are especially proud that these apartments are not only more sustainable, but also affordable.” said Jeff Brodsky, president of Related Management.
“We are proud to be able to help our longstanding client, Related Management, to achieve the ENERGY STAR multifamily certification on these three properties. It is a great recognition of their industry leadership in energy management and sustainability,” said Jeff Perlman, president of Bright Power.
A combination of the following measures were taken at the three properties by Related Management prior to the multifamily ENERGY STAR rating, making the certification process simple:
Continuous monitoring of energy use at all sites using Bright Power’s EnergyScoreCards to make energy efficiency capital improvement recommendations for the future;
Installation of new, high efficiency condensing boilers and domestic hot water storage tanks;
Bi-level lighting systems in corridors and public spaces;
Installation of occupancy sensors in unoccupied spaces such as basements and boiler rooms;
High efficiency ventilation fans;
Along with Related Management’s three properties, 14 other multifamily buildings were also among the first to earn EPA’s ENERGY STAR for existing buildings. They are:
• 680 North Lake Shore Drive, in Chicago, Ill.: Owned and managed by Golub & Company, with technical assistance from Goby, LLC
• The Ashley at RiverHouse, in Arlington, Va.: Owned and managed by Vornado/Charles E. Smith
Aspira Apartments, in Seattle, Wash.: Owned by TIAA-CREF, managed by Riverstone Residential Group and with technical assistance from JDM Associates
•Avalon The Albemarle, in Washington, D.C.: Owned and managed by AvalonBay Communities, Inc
Castle Square, in Boston, Mass: Owned by CSTO Winn Owner LLC and managed by WinnResidential
• Circa Green Lake Apartments, in Seattle, Wash.: Owned by TIAA-CREF, managed by Pinnacle and with technical assistance from JDM Associates
• ECO Modern Flats, in Fayetteville, Ark.: Owned and managed by Specialized Real Estate Group
• Harvard School of Public Health – Shattuck International House, in Boston, Mass.: Owned by President and Fellows of Harvard College and managed by Energy Management Associates, Inc.
• Jeffery Parkway, in Chicago, Ill.: Owned and managed by Nautilus Investments, with technical assistance from Elevate Energy
• MidAtlantic – DC: The Statesman, in Washington, D.C.: Owned and managed by AvalonBay Communities, Inc.
• Peter Cooper Village, in New York, N.Y.: Owned and managed by CompassRock Real Estate
Prescott Wallingford, in Seattle, Wash.: Owned by TIAA-CREF, managed by Riverstone Residential Group and with technical assistance from JDM Associates
• River City, in Chicago, Ill.: Owned and managed by Marc Realty, and with technical assistance from Goby LLC
• Stuyvesant Town, in New York, N.Y.: Owned and managed by CompassRock Real Estate.
“Related Management’s achievement demonstrates that it’s possible to overcome the many traditional barriers to energy efficiency in the multifamily housing market and reap significant energy and cost savings,” said Jean Lupinacci, Chief of the ENERGY STAR program for Commercial and Industrial Buildings.
“Through the example they’ve set, we see how we can all help to make properties more cost-effective for renters, while cutting greenhouse gas emissions and protecting human health.”
Energy costs for renters have risen by 20 percent on average over the past decade, so energy efficiency represents a significant opportunity to reduce utility costs and the greenhouse gas emissions associated with the production of energy, which contribute to climate change. ENERGY STAR certified buildings use an average of 35 percent less energy and are responsible for 35 percent fewer carbon dioxide emissions than typical buildings.
Many types of commercial buildings can earn the ENERGY STAR, such as office buildings, K-12 schools, hotels, and retail stores.
The new 1-100 ENERGY STAR score and certification for existing multifamily properties is based on nationally representative survey data collected by Fannie Mae from a number of companies, including Related Management and Bright Power.