Real estate investment firm nets huge cost savings from ESG investment
CARROLL saved $2 million and 200 million gallons of water through a sustainability program over the last 3 years
As people debate the value of ESG in assessing investment opportunities, multifamily property investment companies that have committed to sustainability programs are capitalizing on savings potential, and simultaneously benefitting the planet through their actions.
EcoSystems has partnered with one such company – the property management team at CARROLL – to oversee several water and energy conservation projects across 19 multifamily properties in their extensive portfolio, which includes approximately 30,000 multifamily units across nine states.
“When we realized the opportunity we had to impact our bottom line, there was no question these initiatives made sense,” said David Perez, CARROLL’s President and COO. “This investment ended up saving us millions, but more importantly, we were able to deliver even greater value to our residents, which makes it a win-win all around.”
EcoSystems has a longstanding partnership with CARROLL and has worked to upgrade toilets, shower heads, and aerators at properties throughout Tennessee, Colorado, Texas, Georgia, Florida, and North Carolina. To date, the execution of these conservation projects has resulted in an average of 21% savings on water and sewer costs. Without significantly changing their habits, residents used 23% less water, simply because CARROLL invested in more efficient fixtures.
For one project in Tennessee, which included upgrades to 500 bathrooms, CARROLL reduced its annual water bill by 24%. Those savings translated into 3 million gallons of water saved— or 32% less than the previous year.
At a multifamily community in Kissimmee, Florida, CARROLL more than doubled those same savings, reducing water usage by 38% (the equivalent of 7.7 million gallons). This dramatic reduction saved CARROLL 37% in utility costs.
While most of EcoSystems’ work with CARROLL has focused on water conservation, the team also engaged in a handful of upgrades to energy infrastructure as well. This included more than 300 thermostats and a separate lighting project, resulting in 13 million kWh of energy saved.
ROI by the numbers
19 properties, 6 states, 13 cities
$2 million in cost savings
191 million gallons of water saved | 13 million kWh of energy saved
9,200 tons of CO2 emissions prevented
These are just a handful of examples from the growing body of evidence from EcoSystems and our partners that demonstrate how investments in ESG programs are good for business. CARROLL’s residents are using fewer resources and living more sustainably, while the company has lowered costs, enabling it to reinvest those savings in other ways that add more value to their portfolio, residents’ lives, and our planet.