Virtu’s GreenLiving Program Helping Slash Energy, Water Use
- Jun 22, 2015
San Francisco—The third annual GreenLiving Report from Virtu Investments has just been released, showing 23 audited properties saved 2.9 million kilowatt hours and 23 million gallons of water in 2014. By taking a holistic approach to energy, water and sustainable management, Virtu’s GreenLiving program has shown results in improving property operations, generating improved returns for investors and assisting residents in reducing energy and water bills.
A total of 23 properties encompassing more than 4,000 apartment units and 3.6 million square feet were audited in the GreenLiving report. In addition to the savings cited above, the cumulative savings over the program’s three years have totaled 4.6 million kilowatt hours and 56 million gallons of water.
These savings are more readily comprehended if related to more commonplace activities, Virtu Investments reports. Comparable savings in electricity could be achieved if 7.6 million fewer automobile miles, or the number necessary to circle the equator 308 times, were driven. The cumulative energy savings equals the energy needed to power 825 apartment homes for a full calendar year. The amount of water saved is similar to that from eliminating 3.2 million showers.
Over the course of its history, 15-year-old Virtu Investments LLC has acquired $1.2 billion in real estate and operated more than 100 properties encompassing 12,000 apartment units in the western United States.
Communities acquired by Virtu Investments begin their participation in the GreenLiving program by undergoing an initial opportunity assessment. This process assesses the current state of each property, pinpointing opportunities for energy and water savings and five other areas of environmental improvements.
Once the assessment is complete, recommended energy, water and sustainable measures and policies are implemented by Virtu Property Management. For instance, steps in saving energy and water might include the installation of Energy Star appliances, WaterSense low-flow showerheads, LED lighting and improved insulation.
Virtu Investments further spurs conservation of energy and water through marketing campaigns that encourage changes in behavior, designed to drive energy and water savings and reduce environmental impacts on the buildings.
Waypoint Building conducts yearly independent audits of each property to quantify the conservation results, and verifies the energy and water savings through utility bill collection.