ARLINGTON, Va.--(BUSINESS WIRE)--AVALONBAY COMMUNITIES, INC. (NYSE: AVB) – Unique among its competitors, AvalonBay has established a Green Label energy program to show prospects and residents how much they can potentially save on annual utility bills, customized for each floor plan. The labels, similar to what you would see on new appliances and automobiles, detail the environmentally-friendly design elements built into AvalonBay apartment communities – programmable thermostats, LED lighting, ENERGY STAR appliances, high-efficiency toilets and low-flow shower heads and faucets among others – as well as the resulting estimated annual energy use and potential savings.
“Our Green Label program, implemented in all newly constructed communities, is a reflection of our commitment to marry smart design with eco-friendly technology,” said Mark Delisi, Senior Director of Corporate Responsibility at AvalonBay. “We know that by integrating sustainability and the principles of corporate citizenship into all facets of our company, we create value for all of our stakeholders, including investors, residents and our associates.”
AvalonBay is establishing sustainability as a core component of its business model and a critical part of its land planning, design, construction and asset management efforts. In his presentation at the recent annual conference of the National Multifamily Housing Council (NMHC), Delisi commented, “Traditionally, sustainability reporting focused on how well a company made its real estate properties more energy efficient. Now, the business case for sustainability has moved well beyond this point to include additional drivers, such as customer expectations, employee engagement, social demands and local community needs.”
AvalonBay is one of the few multifamily housing developers to participate in a range of annual sustainability rankings with notable third-party organizations, including GRESB, the Global Reporting Initiative (GRI) and the Carbon Disclosure Project (CDP). The Company has received industry-leading scores for its work to integrate sustainability initiatives in its design, development, construction, and operations processes.
AvalonBay’s Green Label estimates of annual utility usage and potential savings for each floor plan as compared to units with conventional design elements are based on manufacturers’ representations of energy and water usage for various design elements, assumed usages per floor plan, and recent utility rates.
About AvalonBay Communities, Inc.
AvalonBay Communities, Inc. – a trusted name in multifamily housing – is an equity REIT committed to creating a better way to live. AvalonBay develops, redevelops, acquires and manages apartment communities in the leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States. As of December 31, 2015, the Company owned or held a direct or indirect ownership interest in 285 apartment communities containing 83,696 apartment homes in eleven states and the District of Columbia, of which 26 communities were under construction and nine communities were under reconstruction. AvalonBay currently owns 16 LEED and 10 Energy Star certified communities, and an additional 23 communities are pursuing certification. The Company provides career opportunities to approximately 3,000 associates and acts as a long-term partner in the local communities where it builds and operates. More information may be found on the Company’s website at http://www.avalonbay.com.
Copyright © 2016 AvalonBay Communities, Inc. All Rights Reserved