Second Year in a Row Equity Residential Has Been Awarded Designation. Equity Residential’s Commitment to Sustainability Continues to Expand Throughout its Apartment Communities in Northern California.
San Francisco, CA (1 December 2016) – The Global Real Estate Sustainability Benchmark (GRESB) Survey once again named Equity Residential as the Residential Sector Leader in in North America, announced Equity Residential’s First Vice President of Investments, John Hyjer. GRESB’s globally recognized platform this year incorporated sustainability data from over 750 real estate companies and funds worldwide.
Headquartered in the Netherlands, GRESB is an industry-driven organization committed to assessing the sustainability performance of public, private and direct real estate portfolios around the globe. The designation of Residential Sector Leader for the second consecutive year is the result of Equity Residential having the highest overall GRESB score for multifamily properties in North America.
According to Hyjer, “As one of the nation’s leading owners and developers of multifamily residential communities, Equity Residential is committed to serving and enhancing the neighborhoods and cities where we operate. Our industry leading sustainability programs not only address specific environmental impacts such as water conservation, waste reduction and energy efficiency, but also the lifestyle and social impact within each apartment community and its residents. We are honored to have our work recognized, as we can think of no better way to serve than by continually improving the sustainability of our apartment communities.”
Hyjer went on to note that all of Equity Residential’s new developments delivered to the market in the past 24 months, including Vista 99 and Domain in San Jose, and Azure, Potrero 1010 and 340 Fremont in San Francisco, had these enhancements to energy and water conservation designed from the outset and were included in the consideration for the GRESB designation. Other existing apartment communities have had energy conservation upgrades incorporated, and were also included in consideration.
One of the major sustainability initiatives Equity Residential has employed includes the installation of solar PV panels in nine of their apartment communities, resulting in 1.36 megawatts of power and an 80% reduction in electric use. Some of the newer installations are at Artistry in Emeryville, South City Station in South San Francisco and Park Place in San Mateo, to name a few.
Equity Residential has also continued its conversion to energy-efficient lighting in all areas of the apartment communities; from parking structures to common areas to the apartments themselves. The latest iterations of LED lighting not only saves energy and reduces emissions, they also last longer than either fluorescent or incandescent.
The smart irrigation systems utilizing innovative systems that incorporate weather data and the type of plantings to determine the optimum watering schedule which have been installed in the majority of Equity Residential’s communities in Northern California, have resulted in a marked 29% reduction in water use for landscaping,. Residents still enjoy an eco-friendly, beautifully landscaped community, while heeding sustainability requirements in the region’s drought stricken environment.
Another important element in Equity Residential’s ongoing sustainability practices is incorporating eco-friendly products in the renovation and upgrading of their apartment communities. This category of products have now been installed in nearly 24,000 apartments and include everything from Energy Star kitchen appliances, low VOC paint, WaterSense faucets and shower heads, to programmable thermostats and energy efficient lighting. Residents also receive a thorough education on their apartment’s sustainable features via Equity Residential’s ‘Our Pretty Smart’ program.
About Equity Residential
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties in urban and high-density suburban coastal gateway markets where today’s affluent renters want to live, work and play. Equity Residential owns or has investments in 308 properties consisting of 78,826 apartment units, primarily located in Boston, New York, Washington, D.C., Seattle, San Francisco and Southern California. For more information on Equity Residential, please visit our website at www.equityapartments.com.