Hollander Development Corporation Wins Michigan â€śBattle of the Buildingsâ€ť Using WegoWise
Online PR News – 02-June-2017 – Boston, MA – Hollander Development Corporation, a leader in the development of affordable, sustainable apartment communities for families and seniors, won first place in the multifamily category for the second consecutive year in the Michigan Battle of the Buildings â€śBiggest Loserâ€ť contest.
Hollander worked with WegoWise, the largest software-as-a-service (SaaS) energy and water benchmarking and building analytics company for multifamily real estate, to track the energy and water usage reductions at Gateway Village in Sturgis, MI. The property achieved a nearly 14 percent reduction in electricity, a 20 percent decrease in gas usage, and lowered water usage by over 33 percent, saving the owners more than $30,000 in just one year.
Matthew Hollander, Principal of Hollander Corporation, received the award at the April 19, 2017 Energy Summit and Award Ceremony. The ceremony brought together Michigan building owners and operators in a peer-to-peer learning platform, celebrating 2016 winners, and welcoming 2017 competitors.
â€śThe annual Energy Summit is a great time to reflect on past successes and set the bar higher for next year,â€ť said Hollander. â€śTracking data is a proven method for reducing energy and water consumption. Weâ€™re very proud of the sustainability strides weâ€™ve made by utilizing WegoWiseâ€™s industry-leading energy and water software platform to benchmark Gateway Village, calculate our return on investment, and reduce energy and water usage across our entire portfolio.â€ť
The Michigan Battle of the Buildings, organized by the West Michigan chapter of the U.S. Green Building Council, is an awards and recognition program for energy use reduction open to Michigan commercial, industrial and multifamily buildings. The program encourages energy-efficient practices in buildings across the state and instills a spirit of friendly competition among building owners and operators. The contest compares weather-normalized energy use year over year.
Hollanderâ€™s Gateway Village is a multimillion dollar rehabilitation of an existing, 1970s-era affordable housing complex. In addition to many cosmetic and convenience updates, the Hollander team:
● Undertook a before and after Home Energy Rating System (HERS) analysis
● Converted to LED lighting
● Upgraded to high-efficiency HVAC systems and new appliances
● Educated the residents
● Improved the building envelope
Hollander also committed to certify Gateway Village with Enterprise Green Communities, a nonprofit that helps developers, investors, builders and policymakers make the transition to a green future for affordable housing. Gateway Village achieved more than 30 points beyond the mandatory certification criteria.
As a rehabilitation of an existing affordable housing community, Gateway Village was eligible for Fannie Mae Multifamily Green Financing. This program provides preferential pricing and additional loan proceeds through energy efficiency upgrades. Hollander worked with lender and investor Cinnaire Corporation to secure the Fannie Mae mortgage and equity from Low Income Housing Tax Credits (LIHTC). The entire rehab, including new unit interiors, a new community building, new asphalt, and major concrete repairs, was financed without increasing rents.
Project partners also included Wolverine Building Group, InForm Architecture, engineering firm Byce & Associates, Green Home Institute, the City of Sturgis, and the Michigan State Housing Development Authority.
Hollander Development Corporation is engaged in new construction, rehabilitation, and ongoing operation of a variety of building types. Their baseline for new construction projects is to achieve a minimum performance threshold of LEED Gold or equivalent. Their recent rehabilitation projects have focused on energy conservation measures, onsite renewables, and adherence to Enterprise Green Communities criteria.
Hollander Development Corporation continues to use WegoWise to track retrofits and return on investment. The company tracks all of the utilities for their existing buildings using WegoWise, and it is engaged in a long-term, strategic and incremental utility reduction initiative.
Hollander Development Corporation is a leader in the development of affordable, sustainable apartment communities for families and seniors throughout Michigan. Since its formation in 1979, HDC has created over 4,000 homes using creative financing strategies such as tax credits, specialty loans, government programs and private dollars.
WegoWise is the nationâ€™s leading energy and water benchmarking, building analytics, and sustainability reporting company. The company transforms the way multifamily housing and commercial buildings are increasing operating income and asset value through utility savings. WegoWiseâ€™s software-as-a-service platform helps real estate managers achieve environmental, economic, and social sustainability with a return-on-investment in months.
For additional information, visit www.wegowise.com.rnrnrnrn###