Two years after embarking on a landmark retrofitting project, landlord and tenants alike are seeing savings at a series of Brooklyn properties.
Nine buildings are seeing “transformational” savings, RiseBoro Community Partnership executive Ryan Cassidy told Fast Company. The century-old buildings were updated with white facades that provide a refreshed look and energy efficiency design.
The buildings now meet “Passive House” standards. Tenants benefit from lower air conditioning costs in the summer, according to the nonprofit, while the landlord saves as much as 80 percent on heating bills in the winter.
To retrofit the properties, RiseBoro added eight inches of insulation outside and new heating and cooling systems installed from the exterior. Because most of the work was outside, tenants didn’t experience too much disruption during installation, which also reduced mold and pests with resealed walls.
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The $20 million retrofit project received funding from the New York State Energy Research & Development Authority, which kicked in $1.8 million through its RetrofitNY program, which aims to help building owners find affordable ways to improve sustainability. Architect Chris Benedict designed the buildings.
Decarbonization has been on the minds of New York real estate honchos for years; the sector is responsible for one-third of the state’s climate-warming emissions and a seismic 70 percent of the city’s. Most large buildings are required by city law to cut emissions by 80 percent by 2050, while a state law calls for an 85 percent cut across New York by the same year.
In February, the state paid $5 million to four landlords to model green retrofits within their portfolios. The landlords were Empire State Realty Trust, Hines and affordable housing providers Omni New York and L+M Development Partners.
To comply with city law, roughly 26,000 buildings need to be reformed by 2030, overcoming obstacles such as finding funds, keeping shareholders happy and minimizing tenant disruptions.
— Holden Walter-Warner