Driving Energy Reduction in a Large, Multifamily Building Portfolio
This article describes the process of significantly reducing the energy consumption within a large portfolio of high-rise residential condos and co-ops in New York City. A first of its kind initiative for residential real estate properties, FS Energy and its parent company, FirstService Corporation, are accomplishing groundbreaking results as they take a multifaceted approach entailing education, benchmarking, analysis, technical expertise, innovative financing solutions, and project execution capacity. This article will also outline the initial results of FS Energy’s solution with select case studies.
Based in New York City and founded in 2009, FS Energy, the energy management and advisory subsidiary of FirstService Corporation, is mandated to create customized energy management strategies for First- Service’s portfolio of residential properties in New York City. FS Energy began this process by becoming the first energy management company to gather energy usage data from a large, multifamily property portfolio of over 450 residential buildings and to use this data to determine customized cost and consumption-reduction initiatives. The established leader in New York City, FS Energy is well on its way to achieving its goal of reducing energy consumption and costs by 25% across FirstService’s New York City portfolio by 2013.
FirstService Corporation is a global, diversified leader in the rapidly growing real estate services sector, providing services in commercial real estate, residential property management, and property services. Affiliated industry-leading service platforms include: Colliers International, the third largest global player in commercial real estate services; FirstService Residential Management, the largest manager of residential communities in North America; and TFC, North America’s largest provider of property services through franchise and contractor networks. FirstService generates more than $2 billion in annualized revenues and has more than 20,000 employees worldwide.
Given the size and the energy footprint of FirstService’s portfolio of properties worldwide, FS Energy’s approach and success in New York City are of global significance. They pave the way to changing the standards for energy management in large, multifamily buildings.
Mazria, Edward. Architects and Climate Change. American Institute of Architects.
The Building Energy Use Tracking System (BUETS) study done in the late 1980s
examined and analyzed over 900 facilities of different building ages, sizes, HVAC,
construction, and other characteristics in NYC. This study, still one of the most
extensive energy benchmarking studies ever done in the multi-family building sector,
focused the benchmarking primarily on the heating and DHW portion of the
consumption at these sites. FS Data and the BERG scores discussed in this article
examine all energy usage in the subject buildings. The citation for the BUETS study
is as follows:
Goldner, F.S. and P. Judd. Building Energy Usage Tracking System—Final Project
Report. N.Y.C. Department of Housing Preservation and Development—Energy
Conservation Division/New York State Energy Research & Development Authority.
New York. 1989.