FirstService Corporation, one of the world’s largest residential and commercial property managers, has launched a special division to measure and rate their buildings’ energy use. The company manages 450 buildings in New York City, including the Plaza Hotel, the Kips Bay Towers, and New York by Gehry. FirstService’s sister company, Cooper Square Realty, will be giving its New York properties “energy report cards” in order to reduce overall energy consumption and operation costs.
The new division, FS Energy LLC, will operate a database that tracks energy consumption trends and costs throughout its properties in order to implement efficiency upgrades. FirstService spent more than two years developing the system. The company is setting high benchmarks, and because of its size, company leaders believe that the new tracking system could make a significant dent in the amount of emissions produced.
In a statement, FirstService President and COO said that they aim to reduce energy costs and consumption by 25 percent in all of its New York City residential properties by 2013. They estimate that this will translate into $30 million in savings while reducing carbon emissions by 110,000 metric tons — the equivalent of removing 21,600 cars from the road. FS Energy is currently working on more than two dozen energy efficiency improvement projects at different properties in New York, ranging from oil to gas conversions and boiler replacements to upgrading lighting and installing more efficient heating and cooling systems.
The company’s energy tracking system debuts just as the city is gearing up for the start of Local Law 84, the new benchmarking law for all buildings 50,000 square feet or larger. If FirstService finds success with the program in New York City, it will expand the energy management system to its properties in Chicago and South Florida.