Apartment Building Owners Try to Grapple with Tougher Energy Use Requirements

New York City is the latest local government to require more energy conservation from apartment building owners and developers.

New York property owners and developers and local officials are trying to understand what the city’s new, tougher energy use loss might mean for them, and how much it might cost co comply.

A new law will require thousands of city buildings to deeply cut the amount of energy they use.

“New York City is the first city in the world to require all large existing buildings of 25,000 square feet or more, of which there are 50,000 citywide, to make efficiency upgrades… or face steep penalties,” according to New York’s City Hall.

New York property owners and developers and local officials are trying to understand what the city’s new, tougher energy use loss might mean for them, and how much it might cost co comply.

A new law will require thousands of city buildings to deeply cut the amount of energy they use.

“New York City is the first city in the world to require all large existing buildings of 25,000 square feet or more, of which there are 50,000 citywide, to make efficiency upgrades… or face steep penalties,” according to New York’s City Hall.

New York City is just the latest municipality to raise the bar for apartment investors and developers on sustainability requirements. Local governments across the U.S. are raising the requirements on what developers have to do to be allowed to build their projects. Advocates for sustainable development also call for tougher building codes, including “improvements” to the International Energy Conservation Code (IECC), a national model energy code that many cities and states use as the basis for their own local codes.

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