Driving Energy Reduction in a Large, Multifamily Building Portfolio

Abstract

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 custom-
ized 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.