Starlight Investments Ltd./media/Microsites/DSM...Enbridge Gas Distribution assists Starlight to...
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Starlight is a dynamic real estate ownership and asset management company with a goal of becoming one of the environmental leaders in the multi-family rental industry. In 2013, only two years after its formation, the company received the annual Environmental Excellence Award from the Federation of Rental-Housing Providers of Ontario (FRPO). The award reflects a visionary approach to greening both the building portfolio and the bottom line. Starlight boosts returns to its investors by identifying and acquiring older properties with a view to “unlocking” their value through strategic building improvements. This value is then realized in better rentability or through sale of properties at the right opportunity. Energy efficiency upgrades have given Starlight a “green advantage”—enabling them to substantially reduce the carbon footprint of their portfolio while bringing down operating costs and enhancing property values. Enbridge Gas Distribution assists Starlight to meet their energy and environmental goals—providing natural gas consumption analysis, incentives and impartial expert advice. Starlight Investments Ltd. “Green advantage” turns older buildings into star performers Multi-Family “Enbridge brings experience and expertise to the table. They have worked in the same types of buildings with the same equipment, so they know what works. Their impartial advice gives us confidence in the technologies and savings numbers, and their incentives really help to improve project paybacks.” John Lucic Executive Director, Energy & Technical Maintenance Starlight Investments Ltd. Summary • 45 GTA properties upgraded in two years • Enbridge equipment incentives totaling $223,470.00 • Annual natural gas savings estimated at over 2.2 million m 3 * • Projected CO 2 emissions reduction as much as 4,100 tonnes per year* • Greater tenant satisfaction and higher resale values Challenge Aging building systems were dragging down energy performance and driving up operating costs. Older boilers were operating with seasonal efficiencies less than 60 per cent. The massively oversized and poorly controlled equipment was inefficient all year round, particularly in warm weather when it was used to heat domestic hot water. Starlight recognized that upgrading energy and water systems in their buildings would increase the rental and resale value of their properties, reduce operating costs, and go a long way toward positioning Starlight as an environmental trailblazer. With nearly 100 buildings in the GTA, Starlight needed to prioritize investments in order to get the best returns and build momentum toward greening the overall portfolio. *The figures provided are unaudited and have not been subject to the full extent of Enbridge’s regulated evaluation, measurement and verification process before the Ontario Energy Board.
Transcript of Starlight Investments Ltd./media/Microsites/DSM...Enbridge Gas Distribution assists Starlight to...
Starlight is a dynamic real estate ownership and asset management company with a goal of becoming one of the environmental leaders in the multi-family rental industry. In 2013, only two years after its formation, the company received the annual Environmental Excellence Award from the Federation of Rental-Housing Providers of Ontario (FRPO).
The award refl ects a visionary approach to greening both the building portfolio and the bottom line. Starlight boosts returns to its investors by identifying and acquiring older properties with a view to “unlocking” their value through strategic building improvements. This value is then realized in better rentability or through sale of properties at the right opportunity.
Energy effi ciency upgrades have given Starlight a “green advantage”—enabling them to substantially reduce the carbon footprint of their portfolio while bringing down operating costs and enhancing property values.
Enbridge Gas Distribution assists Starlight to meet their energy and environmental goals—providing natural gas consumption analysis, incentives and impartial expert advice.
Starlight Investments Ltd.“Green advantage” turns older buildings into star performers
Multi-Family
“ Enbridge brings experience and expertise to the table. They have worked in the same types of buildings with the same equipment, so they know what works. Their impartial advice gives us confi dence in the technologies and savings numbers, and their incentives really help to improve project paybacks.”
John LucicExecutive Director, Energy & Technical Maintenance
Starlight Investments Ltd.
Summary
• 45 GTA properties upgraded in two years
• Enbridge equipment incentives totaling $223,470.00
• Annual natural gas savings estimated at over 2.2 million m3*
• Projected CO2 emissions reduction as much as 4,100 tonnes per year*
• Greater tenant satisfaction and higher resale values
Challenge
Aging building systems were dragging down energy performance and driving up operating costs. Older boilers were operating with seasonal effi ciencies less than 60 per cent. The massively oversized and poorly controlled equipment was ineffi cient all year round, particularly in warm weather when it was used to heat domestic hot water.
Starlight recognized that upgrading energy and water systems in their buildings would increase the rental and resale value of their properties, reduce operating costs, and go a long way toward positioning Starlight as an environmental trailblazer.
With nearly 100 buildings in the GTA, Starlight needed to prioritize investments in order to get the best returns and build momentum toward greening the overall portfolio.
* The fi gures provided are unaudited and have not been subject to the full extent of Enbridge’s regulated evaluation, measurement and verifi cation process before the Ontario Energy Board.
Solution
Starlight’s dedicated energy management team took advantage of Enbridge’s Energy Compass program to identify the poor performing buildings within their portfolio. An Enbridge Energy Solutions Consultant then provided a detailed analysis of existing conditions in each building and calculated the estimated natural gas savings for recommended energy efficiency technologies and measures. Together, Starlight and Enbridge identified the energy efficiency opportunities with the best potential savings and paybacks. Starlight then put together a comprehensive three-year plan to reduce the portfolio’s energy use and carbon footprint.
In 2013 and 2014, Starlight upgraded 45 GTA properties. Bundling a number of measures made it possible to achieve attractive project paybacks and return on investment. Retrofit incentives from Enbridge further improved the payback horizon.
Energy-efficient equipment supported by Enbridge incentives included:
• Mid-efficiency gas boilers
• Boiler controls
• Building automation systems
• Low flow showerheads
• Novitherm panels
The new boilers are rated at 84 per cent to 88 per cent efficiency. Close monitoring of the boiler controls and building automation systems ensures that the higher efficiencies are achieved in day-to-day operations. The water saving measures in turn contribute to a reduction in natural gas used for domestic water heating while Novitherm radiator panels, which reflect heat back into the apartment units, make it possible to reduce heating set points.
Results• In total, Starlight’s natural gas conservation projects
within the Enbridge Gas Distribution franchise area are projected to save 2,234,704 m3 of natural gas annually.
• This would reduce carbon emissions by as much as 4,100 CO2 tonnes per year—the equivalent of removing about 800 cars from the road over the course of a year.
• Based on the projected total natural gas savings from the projects Starlight qualified to receive Enbridge incentives totaling $223, 470.
• Along with the natural gas equipment upgrades, Starlight has undertaken a number of electricity and water saving projects to further trim utility bills and carbon footprint. Adding to the savings, maintenance bills have dropped substantially.
• The building system transformations have improved tenant comfort and rentability. Starlight is also seeing these efficiency investments translate into a significant increase in resale values.
Upgrading your building by investing in efficient equipment and systems can pay off in long-term environmental and financial benefits.
If you are considering an energy efficiency improvement to your existing building, you may be eligible for monetary incentives. To get started and for more details, contact your Enbridge Energy Solutions Consultant today:
1-888-427-8888 [email protected] www.enbridgegas.com/businesses
Contact Enbridge Today
“ One of Starlight’s biggest strengths is identifying opportunities and re-positioning properties to create value. Reducing energy consumption and associated greenhouse impacts helps us stand out as an environmental leader in the industry while reducing operating costs and enhancing the overall worth of the portfolio.”
Daniel Drimmer President & CEO Starlight Investments Ltd.
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