GPM’s focus on efficiency and sustainability cuts costs
Reducing monthly maintenance and energy costs is a goal of every homeowner. Whether it’s installing energy-efficient windows in your single-family home or looking for ways to reduce the energy costs of condominiums, the drive to increase energy efficiency and sustainability in order to reduce the costs of building condominiums. monthly operation is an ongoing battle.
For condominium residents, this battle is more difficult because they are not the final decision-maker. This responsibility lies with the property developer or, more likely, the property manager, who reports to the board of directors of the condominium. All must work together to find ways to make their buildings and individual residences more energy efficient through ongoing sustainability efforts to control operating costs or, ideally, reduce them.
GPM Property Management Inc. is one such property manager in Toronto that is dedicated to finding innovative ways to save money for its residents and condominium boards while maintaining the optimal health of condominium properties. ‘he manages.
A prime example is a residential property it manages in Humber Bay Shores, Waterscapes at 80 Marine Parade Drive, where GPM has taken a unique action plan to improve an element of building management in an effort to save money. costs through innovative sustainability measures in HVAC and water consumption and the resulting energy savings were impressive.
Built in 2014, Waterscapes is not an old building, but the doors keep opening, saving money no matter when a building was built, such is the pace and progress of new technologies. The condominium, located between the QEW Highway and Lake Ontario in southern Etobicoke, is a distinctive modern tower with a round black facade of over 30 stories containing 344 residential units.
As a property manager now in its 50th year of operation, GPM manages over 80 condominiums in the GTA, including Murano Condominiums, Crestview Place and Landmark II, and its portfolio has grown 51% in the past five years alone. Over the years at Waterscapes, GPM has helped the condo board of directors cut costs by negotiating the costs of elevators and other major contracts such as safety and cleaning, while delivering efficiency gains and service offerings to its residents in its ongoing search for new tools and features to improve the condominium communities it serves.
At Waterscapes, GPM undertook a review to examine how HVAC expenses could be reduced to maximize the efficiency of existing equipment to achieve savings to help offset other costs.
“Condominium management is a rapidly evolving business,” says Mo Kulu, vice president of community and customer services at GPM. “We strive to be at the forefront of innovation to improve and improve the lives of our residents and the overall health of our buildings while delivering significant and lasting savings year over year.
To bring the innovation required to achieve these savings, GPM turned to Parity Inc., an energy management platform capable of making buildings smarter, more efficient and more environmentally friendly. To begin with, Parity undertook a comprehensive building inspection and HVAC energy efficiency assessment at Waterscapes. This included an engineering build for each individual process, taking into account equipment schedules, controls and seasonality, as well as a review of historical utility consumption.
The assessment found that the building’s current annual energy cost was almost $ 280,000. It was at this point that Parity implemented its technology to reduce this cost, by collecting system data to establish the current energy consumption and demand patterns of the property, and then applying advanced algorithms. machine learning to maximize the operational and energy efficiency of the existing HVAC system. To minimize energy wastage from year to year, Parity takes into account weather and occupancy forecasts and uses all composite data points to assign setpoint inputs, motor speeds and runtime controls to all equipment that supplies heating, cooling, ventilation and water.
Then, to minimize energy wastage from year to year, Parity takes into account weather conditions, occupancy rates and uses all composite data points to assign setpoint entries to all equipment that provides heating, cooling, ventilation and water.
“The results are in our name, Parity,” says CEO Brad Pilgrim. “When property management teams partner with us, their buildings only use the energy they need when they need it, while reducing CO2 emissions and saving energy at all times. levels. “
As a result, at Waterscapes, the initial energy cost of $ 280,000 has been reduced by $ 68,133 per year, representing a five-year savings of almost $ 330,000. Perhaps more importantly, the carbon emissions savings total 147,647 pounds of CO2, with the environmental impact to date being the equivalent of 1,062 trees planted.
GPM has also focused heavily on water use at Waterscapes by introducing the “Smart Valve” to the board, which has dramatically reduced water and sewer bills by 15-25% per year. thanks to a flow management device. This device prevents residents from being billed for any volume of air that may be present in your water supply by compressing the volume of air before it reaches your meter. It also prevents pressure drops due to the use of water from reaching the water meter and keeps the water meter operating within its intended flow range.
GPM has brought innovative thinking and critical partnerships to Waterscapes resulting in lower energy efficiency and operating costs for the benefit of its condominium residents, and through the resulting sustainability measures, benefits for the common good as well.
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