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Green Multi Family Case Study

Green Multi Family Case Study

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Published by Jim Simcoe
Case study on green real estate investing, specifically green multi-family real estate investing
Case study on green real estate investing, specifically green multi-family real estate investing

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Published by: Jim Simcoe on Mar 02, 2011
Copyright:Attribution Non-commercial

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02/04/2013

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Multifamily Green RetrofitCase Study
Simcoe Consultingwww.JimSimcoe.com760-271-7128 - jim@jimsimcoe.com - 491 Second Street, Encinitas, Ca 92024
 
Executive Summary
In 2009 our firm, Simcoe Consulting was commissioned to do a comprehensiveenergy and water consumption assessment of a 256 unit apartment complex(Santee Villas) in Santee, California. Costs for both energy use and waterconsumption on the property were continuing to increase year over year.In addition, the County of San Diego had just raised the drought warning to a LevelTwo for San Diego.  The local water provider,  Padre Dam Water District, hadsteadily raised water and sewer rates over the past several years. The owners of Santee Villas (R&V)were concerned that increasing rates coupled potential fines andlevies for excess water use would threaten their already slim profit margins.We were tasked with answering the following :1. How could we maximize the energy-efficiency of the property?2. What would a green retrofit cost and what was the ROI for the retrofit?3. What rebate funds were available to offset the cost of the project?Once the assessment was completed and the strategy finalized, we handled theproject management of Phase I of the retrofit.  The entire project, from audit tostrategy, to final completion took approximately 75 days.
Simcoe Consultingwww.JimSimcoe.com760-271-7128 - jim@jimsimcoe.com - 491 Second Street, Encinitas, Ca 92024
 
Site Specifics
Santee Villas is a 256 unit multifamily development in San Diego County, California.Santee Villas is owned by a private real estate company (R&V) based in San Diego.The company owns 35+ large multi-family properties in Southern California. SanteeVillas is comprised of 16 buildings built in 1984 and sits on approximately 18 acres.The city of Santee is northeast of the city of San Diego. Santee has a temperateclimate although summer day temperatures often exceed 100 degrees. SanteeVillas is spread out over [how many] buildings.  As with typical apartmentcomplexes there are areas that get a great deal of sun and some areas that get verylittle.All of the buildings are two story wood and stucco construction.  All of the SanteeVillas systems (plumbing, irrigation, electrical, HVAC) were installed during theoriginal construction.  No major retrofits or upgrades had been completed sincethat time.
Simcoe Consultingwww.JimSimcoe.com760-271-7128 - jim@jimsimcoe.com - 491 Second Street, Encinitas, Ca 92024

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