THE BETTER BUILDINGS CHALLENGE EXPANDS TO APARTMENT BUILDINGS

June 29, 2014 on 1:28 am | In Government, Green, Investment Opportunities, New Developments, Of Local Importance, Problem Solving, Trends, Uncategorized | 2 Comments

by Jodi Summers

In 2014, the Better Buildings Challenge has expanded to include multifamily properties.

“The expansion of the Better Buildings Challenge to include multifamily housing represents an important step toward achieving the goals laid out in the President’s Climate Action Plan,” Observes HUD Secretary Shaun Donovan.

The goal of the Better Buildings Challenge when it was launched in 2011 was to make America’s commercial buildings 20% more energy efficient by 2020. The challenge asked corporate chief executive officers, university presidents, and state and local leaders to make a public commitment to energy efficiency. Through the Better Buildings Challenge, the U.S. Department of Energy (DOE) is highlighting leaders that have committed to upgrading buildings across their portfolio, and providing their energy savings data and strategies as models for others to follow.

“More than 50 multifamily owners from across the nation have committed to the Better Buildings Challenge,” shares Donovan. “These housing leaders understand that it represents an opportunity for them to reduce their long-term energy costs, support innovative technologies, create good jobs, and help shape healthier communities and neighborhoods,”

The City of Los Angeles has set a goal to achieve 20% energy savings across 30 million square feet of existing buildings by 2020 as part of the Better Buildings Challenge, a national leadership initiative sponsored by the U.S. Department of Energy, which calls on public and private sector leaders to take action and demonstrate the benefits of modernizing America’s existing buildings.

Achieving this goal will significantly reduce operating costs while freeing up capital for more productive uses, enhancing tenant comfort and productivity, boosting market competitiveness, creating over 7,000 high-quality local jobs, and averting annual CO2 emissions equivalent to taking over 18,000 cars off the road.

“Over the last two years, President Obama’s Better Buildings Challenge has helped drive greater energy efficiency further and faster, save families money and give U.S. businesses an edge in the global market,” said Energy Secretary Ernest Moniz. “By partnering with the multifamily housing industry as well as state and local governments, utilities and manufacturers, we can continue this progress – cutting carbon pollution, fostering economic growth and building a cleaner, more sustainable energy future.”

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http://www.multifamilyexecutive.com/energy-efficiency/owners-operators-group-welcomes-the-better-buildings-challenge_o.aspx?dfpzone=home&utm_source=newsletter&utm_content=jump&utm_medium=email&utm_campaign=MFEBU_010214&day=2014-01-02

http://www.socalgreenrealestateblog.com/?p=1866

http://energy.gov/articles/obama-administration-expands-better-buildings-challenge-multifamily-housing-launches-new

http://www.socalgreenrealestateblog.com/?p=3110

http://la-bbc.com/about/

http://www.socalmultiunitrealestateblog.com/?p=2636

http://www.whitehouse.gov/sites/default/files/imagecache/embedded_img_full/image/image_file/p120211lj-0103.jpg

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  1. The average monthly rent for an apartment has increased for 18 consecutive quarters, as tight mortgage credit, changing preferences among millennials and inventory shortages have combined to continually erode the affordability of units.

    Rents rose 3.4 percent nationally for the 12-month period ending in June, even as household income continued to stagnate.

    Comment by WSJ — July 3, 2014 #

  2. Gen Y is a little more unified in terms of their preferences. the Facebook generation wants to be plugged in 24/7—with both technology and each other.

    Millennials want a living environment that sort of matches their lifestyle, and the current housing doesn’t do that. You need those products that facilitate a lifestyle that is tech driven and socially driven because of Facebook.

    Technology is also becoming a large factor as many empty-nesters begin their search in the rental housing market.

    Comment by GlenBrill — July 12, 2014 #

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