What does it take for both SFR residents and owners to achieve long-term cost savings? Richard Ross weighs in.
To limit the effects of climate change, sustainable construction practices are essential. And even though the current White House administration is pushing back against policies that curb carbon emissions, multifamily developers haven’t discontinued their sustainability efforts. On the contrary, some of them are setting new benchmarks by integrating comprehensive ESG initiatives both into their existing communities and into their projects.
Since its inception five years ago, Quinn Residences’ portfolio has grown to 4,744 homes across 33 communities in Florida, Georgia, Tennessee and The Carolinas. The company has committed to achieving carbon neutrality in their build-to-rent communities and is actively working toward that goal.
In this interview with Multi-Housing News, CEO Richard Ross expands on the energy-efficient construction methods that are driving cost savings for both residents and his company.
Why are energy-efficient designs and sustainable construction such big focuses for you? What features are the most efficient?
Ross: A home designed and built with energy-efficient design and sustainable construction leads to significant long-term cost savings for our residents. Over 20 to 30 years, the total potential savings can range from $50,000 to more than $130,000.
We use energy-efficient appliances and HVAC systems to lower utility bills. Also, upgrading to Energy Star-rated appliances and high-efficiency HVAC systems can cut electricity and gas costs by 20 to 50 percent. Additionally, double or triple-pane windows and energy-efficient doors reduce heating and cooling costs, often saving 15 to 30 percent on energy bills.
Cost-efficient HVAC systems can reduce maintenance and repair costs. High-efficiency HVAC units require less maintenance and have longer lifespans, saving on service costs. Water-efficient plumbing—low-flow fixtures and efficient irrigation systems—can cut water usage by 30 to 50 percent, reducing water bills and lowering the strain on plumbing systems. Reducing health-related risks with improved indoor air quality from sustainable construction materials and ventilation systems can lead to fewer medical expenses related to respiratory issues and allergies.
By installing solar panels you can reduce or eliminate electricity bills, leading to long-term savings exceeding $20,000 to $50,000 over 20 to 30 years. Also, smart thermostats and lighting systems optimize energy use, saving energy costs 10 to 20 percent annually.
The integration of solar panels in select communities is a significant step for Quinn. Do you plan to expand this initiative across your entire portfolio?
Ross: Yes, we’re planning to expand this over time. Currently, we have one community where solar is fully active and four more with installations underway. Each utility provider has its own process of integrating solar into our communities, so while it will take some time, we want to roll it out across our portfolio of communities.
Read the full article with Multhousing News by clicking here!
Want to Learn More?
- Explore Quinn Residences: Visit www.live-quinn.com to learn about our modern rental communities.
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