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Have Enough Money?

Have Enough Money?
Green retrofitting might be a noble goal, especially for larger energy guzzlers, but is there enough green (dinero, moolah) to pay for the green (energy, water efficiency). And what about older buildings?
 
Have Enough Money?
Access to capital is sometimes a barrier to implementing full-scale, energy-efficient retrofits in older buildings, which are typically more costly to operate anyway, MB Real Estate's Natalie Stanley tells us. She's the leader of the firm’s LEED CI project management and sustainability advisory services, and adds the good news is that there are third-party funding sources specifically for large-scale, energy-efficiency retrofit projects (cue American cavalry music), as well as a number of grants and incentives through utility companies.
 
Have Enough Money?
MB, in partnership with Wirtz Realty, is beginning work on sustainable retrofits on the '20s vintage art deco 333 N Michigan as part of the Retrofit Chicago, the buildings initiative announced recently by the city. The skyscraper is going to get a new energy management system and lighting, which ought to lop 20% off its energy bill by 2017. "Tenants are also becoming savvier office users and have begun to focus on the efficient design of their interiors, as well as making company-wide behavioral changes, both resulting in lower operating costs," Natalie tells us. "Without support from tenants, older building retrofits aren't as impactful.
 
Reznick (Office) MCHI
WASHINGTON DC 04.27.2017

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