This City Council bill would require landlords to retrofit buildings

Measure seeks to cut greenhouse gas emissions by 40%

TRD New York /
Nov.November 20, 2018 04:15 PM

Costas Constantinides and rooftop gardens in Brooklyn Heights (Credit: iStock)

A new City Council bill seeks to require some 50,000 buildings to cut greenhouse gas emissions by 40 percent in the next decade.

Council member Costas Constantinides, the bill’s sponsor, plans to introduce the legislation next Wednesday. The new measure would require landlords to decrease emissions in all buildings that are 25,000 square feet or larger by 2030. These buildings produce 30 percent of the city’s total emissions, Constantinides said.

“Instead of treating individual symptoms, like fossil fuel and energy efficiency, we will go after directly a carbon-producing virus,” he told reporters outside City Hall on Tuesday.

The bill also seeks to create an Office of Building Energy Performance within the City’s Department of Buildings, which would enforce the new emission requirements. The legislation has not yet been released publicly.

Earlier drafts of the measure had raised concerns that the costs of the upgrades would be passed onto tenants, especially those living in rent-regulated buildings. Constantinides said these retrofits won’t be eligible for the state’s major capital improvements program, which allows for an up to 6 percent annual increase in rent.

“We have never wanted landlords to do this work on the back of tenants,” he told reporters outside City Hall on Tuesday.

Under the bill, rent-regulated buildings would have to undergo a less-demanding retro-commissioning process, which won’t trigger MCI. A law created in 2009 already requires retro-commissioning in all buildings larger than 50,000 square feet.

When asked how the real estate industry will react to the measure, Constantinides said he expects a “robust” discussion.


Related Articles

arrow_forward_ios

These are the tallest towers underway
in NYC

Architecture’s final frontier: Here’s what houses on Mars might look like

California passes landmark rent control law

The Watchtower building at 25 Columbia Heights, CIM Group’s Shaul Kuba (right) and LIVWRK’s Asher Abehsera (Credit: Wikipedia, CIM Group, and LinkedIn)

JPMorgan leads $335M refi for CIM and LIVWRK’s Watchtower renovation

The construction giants catching a Windy City windfall

David Marx of MDG Real Estate and the site at 71-05 Parsons Boulevard in Queens (Credit: Google Images and iStock)

Here’s a weird one: David Marx plans towers at Queens site he bought from his own company

Resi scorecard: Brooklyn and Queens condo inventory through June 2019

Mack-Cali sells Paramus office property, Murphy enacts land bank reforms & more North Jersey real estate news

arrow_forward_ios