FSV FirstService Corporation

The partnership with NYSERDA will support efforts to achieve carbon neutrality at Lincoln Square Condominium, a 281-unit, mixed-use residential tower in Manhattan.

NEW YORK , May 28, 2024 /PRNewswire-PRWeb/ -- FirstService Residential, New York's leading residential property management company, has joined the Empire Building Challenge, a $50 million initiative administered by the New York State Energy Research and Development Authority (NYSERDA) to decarbonize existing multifamily residential and commercial high-rise buildings. As an Empire Building Challenge partner, FirstService Residential is committed to advancing New York's goal to achieve carbon-neutrality through sophisticated energy retrofit projects and facility upgrades that reduce carbon emissions across the company's portfolio of managed properties.

To spearhead these efforts, FirstService Residential has selected JB&B, a leading engineering consulting and design firm, to design and execute a comprehensive suite of energy retrofits and facility improvements at Lincoln Square Condominium, a 281-unit mixed-use condominium tower in Manhattan's Lincoln Square neighborhood, managed by FirstService.

"Early on, we recognized our unique position of influence as New York's largest residential management company to drive the reduction of greenhouse gas emissions and the adoption of renewable energy products across our client portfolio," said Kelly Dougherty, president of FirstService Energy, the dedicated energy advisory affiliate that guides FirstService-managed properties on the path to sustainability. "Our partnership with NYSERDA has helped us significantly reduce our portfolio emissions, bringing the goal of a net-zero New York City one step closer to fruition."

Doreen M. Harris, NYSERDA President and CEO said, "Lincoln Square Condominium is a leading example of how energy retrofit projects can produce modern, climate-friendly buildings to serve as industry models for high-rise decarbonization while helping to reach toward New York's nation-leading climate goal to reduce greenhouse gas emissions by 85% by 2050. Congratulations to FirstService Residential for their outstanding project being named an Empire Building Challenge round three award winner."

NYSERDA competitively selected 27 real estate portfolio owners and their technical teams to participate in the Empire Building Challenge. Selected partners collectively oversee more than 400 million square feet of real estate in New York State, including more than 200,000 housing units. These partners have jointly committed to achieve carbon neutrality in more than 170 buildings, totaling 128 million square feet, in the next 10 to 15 years.

"We're extremely proud to participate in the Empire Building Challenge, which highlights our commitment to promoting greener, more sustainable energy consumption across our portfolio of managed buildings," said Keith Werny, president of FirstService Residential's CityLine Division. "The completed and ongoing energy projects at Lincoln Square Condominium are textbook examples of how energy retrofits and facility upgrades can significantly curb emissions and annual costs, when done right."

"Multifamily buildings like Lincoln Square Condominium have proven to be the most challenging to decarbonize, since, as occupied buildings, the disruption factor is high," said Christopher Colasanti, associate partner at JB&B. "Through the Empire Building Challenge, FirstService Residential has tackled this challenge head-on, and lessons learned from this project will serve to help the entire community. We're excited to be part of that effort."

The Lincoln Square Condominium's residential board of directors is committed to achieving carbon neutrality by 2035. To date, completed projects include:

• Installation of the SmartKit AI-powered electric meter system that delivers real-time energy consumption data, heat maps, and historical data
• Participation in the New York State Community Distributed Generation Program and the Con Edison Demand Response Program to reduce consumption during peak energy grid demand events
• Replacement of incandescent bulbs with LED lighting throughout the building
• Installation of submeters for the commercial and residential entities
• Installation of variable frequency drives (VFD) on air ventilation pumps and fans to monitor and reduce unnecessary consumption

About FirstService Residential
FirstService Residential is simplifying property management. Its hospitality-minded teams serve residential communities across New York City, Long Island, and Westchester County. The organization partners with boards, owners, and developers to enhance the value of every property and the life of every resident.

Leveraging unique expertise and scale, FirstService serves its clients with proven solutions and a service-first philosophy. Residents can count on 24/7 customer care and tailored lifestyle programming, amenity activation, and technology for their community's specific needs. Market-leading programs with FirstService Financial, FirstService Energy, and special districts teams deliver additional levels of support.

Boards and developers select FirstService Residential to realize their vision and drive positive change for residents in the communities in their trusted care.

FirstService Residential is a subsidiary of FirstService Corporation (NASDAQ and TSX: FSV), a North American leader in providing essential property services to a wide range of residential and commercial clients.

About FirstService Energy
As the energy management and advisory affiliate of FirstService Residential, FirstService Energy offers customized and cost-effective efficiency solutions to reduce energy and water consumption and costs, ultimately reducing the property management portfolio's carbon footprint and environmental impact. Since launching in the New York market in 2009, FirstService Energy has been extending its services to FirstService Residential clients in markets across the US and Canada, as well as the company's corporate locations as part of its portfolio-wide expansion.

About JB&B
JB&B is a global mechanical and electrical consulting engineering firm with an industry-wide reputation for quality project support and a commitment to providing clients with optimal, project-specific engineering solutions. Since its founding in 1915, JB&B has consistently evolved its practice, expanding its service offerings to include low-voltage, smart buildings, deep carbon reduction, integrated field services under JB&B Field and architectural lighting design through its division, LightBox Studios.

Media Contact

Dana Collins, FirstService Residential New York, 212.634.5495, dana.collins@fsresidential.com, www.fsresidential.com/new-york

Sebastian Morris, FirstService Residential New York, 212.324.9791, sebastian.morris@fsresidential.com, www.fsresidential.com/new-york

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SOURCE FirstService Residential New York