Rose Associates, the New York-based full-service real estate firm, hosted a presentation by the New York State Energy Research and Development Authority (NYSERDA) at The Churchill, a 586-unit cond-op located in Murray Hill.
At the event, NYSERDA led a discussion focused on Combined Heat and Power systems (CHPs), which, during normal operation, generate a portion of the building’s electricity and hot water, reducing energy costs. CHPs also supply power to critical systems should the city’s electric grid go down.
As a property manager and owner, Rose has long been active in the area of energy conservation and has an Energy Management Services team that serves clients in this area.
The Churchill, a Rose-managed property, has recently been equipped with a CHP system and new dual fuel (gas/oil) burning boilers.
Rose is actively involved in The New York City Mayor’s Carbon Challenge, an effort aimed at cutting citywide greenhouse gas emissions 30 percent by the year 2030. CHP systems help meet this goal because on-site generation of heat and electricity eliminates the operation and distribution losses of central power plants, resulting in lower greenhouse gas emissions. So far, The Churchill’s CHP system has reduced greenhouse gas emissions equivalent to adding more than 1,700 acres of US forest.
“On-site electricity is critical in times of power outage as it keeps elevators running and water flowing,” said Ed Donnelly, director of technical services at Rose.
“We’ve installed Combined Heat and Power systems in numerous buildings, many of which we’ve also equipped with dual fuel boilers. Rose continues to encourage owners to commit to these systems, which are environmentally responsible and also deliver meaningful cost savings.”
At the NYSERDA event, experts discussed the benefits of CHP systems and the impact that The Churchill’s system has had on day-to-day operations. The Churchill uses its generated heat to supply domestic hot water, space heating and to heat the rooftop pool—an ongoing cost savings that offsets the investment in the system. In the event of a power grid failure, the CHP energy can be redirected to maintain limited elevator service, power water pumps and provide emergency lighting. The heat can be dedicated to needs like space heating and domestic hot water.
The building owners and managers in attendance were also informed of the $100 million worth of incentives currently available for CHP through NYSERDA’s complementary pair of CHP programs—the CHP Acceleration Program (PON 2568) and the CHP Performance Program (PON 2701).
Based in New York, Rose Associates is a developer, owner and operator of residential properties. From planning a new development to managing day-to-day property operations, the Rose 360 Platform offers a full range of services designed to maximize the value of real estate. The firm oversees more than 26,000 units across New York, with $2 billion in projects under development.
Rose is currently transforming the historic skyscraper at 70 Pine Street into a luxury rental property with 644 residential units and 132 extend-stay apartments.