On the heels of the Republican convention last week in Cleveland, NMHC Executive Committee member Alan George, Chief Investment Officer and EVP at Equity Residential, and NMHC staff were front and center representing the multifamily industry in Philadelphia at the Democratic convention.
In addition to dozens of briefings, events and personal discussions with key members of the Senate and House, George joined Representative Jim Himes (D-CT) and other senior executives to discuss how government can serve as a catalyst to help bring new energy efficiency technologies to market. He also focused on the complementary effort of creating financing options that help consumers and businesses accelerate the adoption of those products.
George detailed Equity Residential’s commitment to energy efficiency, while at the same time making the overall business case for sustainability. For example, in describing energy efficient lighting retrofits he pointed out that utility costs decreased, and maintenance costs were reduced, when long-lived LED fixtures were installed. George noted, however, that property owners lack access to whole building utility data, which he said state and local policy makers need to address.
“The ability to assess whole building energy performance can guide property owners in making forward-thinking sustainability focused investment decisions,” emphasized George. “Public utility companies are forbidden under confidentiality rules from releasing information, which limits the industry’s ability to efficiently track and benchmark energy efficiency in multifamily buildings.”
“Ultimately, lacking this critical decision-making data, owners are unable to take advantage of financing opportunities and recognition programs like Energy Star,” added George.
NMHC joined again with other partners in co-sponsoring a policy forum with The Hill aimed at highlighting the current outlook for the real estate industry. Cindy Clare, President of Kettler Management, represented the multifamily industry on an expert panel moderated by Dave Stevens, CEO at the Mortgage Bankers Association, along with Representatives Ed Perlmutter (D-CO) and John Delaney (D-MD).
Clare highlighted the financing, regulatory and development challenges that the multifamily industry faces when trying to meet the growing workforce housing rental demand.
Please click here to watch the real estate policy forum.
In addition, if you missed NMHC’s coverage of the Republican convention last week, go to:
Valach Details Multifamily Challenges at GOP Convention.