Standard Communities, a leading national investor and developer of affordable and workforce housing, is completing extensive energy efficiency upgrades at Polyclinic Apartments, a 151-unit, 100% affordable community at 341 West 50 Street in Manhattan. The substantial energy efficiency improvements–at no cost to residents–to the building’s systems, common areas and units will bring Polyclinic Apartments into compliance, well ahead of deadlines, with New York City Local Law 97 and other environmental regulations designed to cut greenhouse gas emissions.
“Buildings account for approximately two-thirds of greenhouse gas emissions in New York City, and Standard is proud to do our part in helping New York City become carbon neutral by 2050. Our substantial energy efficiency improvements at Polyclinic Apartments are projected to reduce our carbon output more than 20% and save our residents over $6,000 a year collectively in utility bills,” said Scott Alter, Co-founder and Principal of Standard Communities.
“The energy efficiency gained from these upgrades is estimated to save 260 tons of carbon dioxide annually, equivalent to the greenhouse gas emissions of 590,000 miles driven by an average passenger car,” added Mr. Alter.
Standard is partnering with Bright Power, a premier provider of energy management services for real estate owners, investors and operators, and working with Con Edison’s Multifamily Energy Efficiency Program, to implement energy efficiency upgrades at Polyclinic Apartments.
Designed to reduce carbon emissions as required by New York City’s Local Law 97–part of the Climate Mobilization Act–the upgrades at Polyclinic Apartments include:
- Overhaul of the building’s ventilation system
- New radiator control valves, orifice plates and steam traps
- Installation of exhaust fan timers
- Low-flow faucet aerators and showerheads
- A new heating system controller
- Upgrade of common area lighting and controls
- Insulating exposed heating surfaces and condensate piping
“Our mission is to cultivate long-term public and private partnerships to produce and preserve high-quality, affordable and environmentally sustainable housing. Polyclinic Apartments is a perfect example of our mission, and we are pleased to bring these energy efficiency improvements at no cost to our residents,” said Mr. Alter of Standard Communities.
“Bright Power is delighted to partner with Standard Communities to make Polyclinic Apartments more energy efficient and climate resilient,” said Jessica Esposito, Vice President, National, at Bright Power.
A former hospital, Polyclinic Apartments was converted to apartments in 1979. Standard Communities acquired the Project-Based Section 8 property in 2017, guaranteeing the affordability of 151 units in one of the nation’s most expensive rental housing markets.
Based in New York and Los Angeles, Standard has a national portfolio of over 11,500 apartment units, including approximately 10,500 affordable and workforce housing units, and has completed more than $3 billion of affordable housing acquisitions and rehabilitations nationwide. Standard Communities strives to cultivate long-term public and private partnerships to produce and preserve high-quality, affordable, and environmentally sustainable housing.
Standard Communities | https://www.standard-communities.com