In the past, institutional investors would qualify managers by investments and returns, according to Tony Liou, president of Partner Energy.
“Now it is, ‘What is your sustainability plan?’ ” Liou says. “They want to know what you are going to do to make [a building] more sustainable.”
Liou’s firm recommends energysaving measures to building owners, then ensures they are installed and operate according to plan.
Many municipalities now require energy audits and yearly benchmarking of energy use. Lending agencies now provide energy-efficient incentives for multi-family apartment buildings, too.
“They are asking for a percentage reduction in energy and water usage,” says Liou. Through Fannie Mae, multifamily owners, buyers, developers and cooperatives can get lower interest rates and additional loan proceeds through various programs.
The agency will even pay the full cost of an energy audit. It’s a win-win.
“Fannie gains a property that is more eco-friendly, and the owner can get a better rate,” explains Jake Handelsman, managing director of Eastern Union Funding, who has worked on such loans for his customers.
Local buildings are also zeroing in on air quality. Air purification company AtmosAir has developed a bipolar ionization technology. “The ions attach to dust and make it bigger, so it’s easier to catch in a filter,” says Steve Levine, AtmosAir president and CEO. “With mold spores, the ions attack the spore and break the spore in half so it can’t reproduce.”
Because the technology also attacks mold, bacteria and viruses, it has been installed in medical facilities — like the Walter Reed National Military Medical Center in Bethesda, Md. — and sweatheavy spaces like SoulCycle and Alvin Ailey’s studio.
It’s also found in hotels, casinos, residential buildings and offices. Tower 45, at 120 W. 45th St., is getting a $20 million makeover that includes an AtmosAir system.
Happy Earth Day, indeed.
