Second Phase of Upgrades Completed at Melville Towers in New Bedford
Bedford, MA (December 7, 2016) – Full-service real estate firm, Peabody Properties, Inc. today announced that it has completed the second phase of energy upgrades at Melville Towers, a community of 320 apartment homes located on Pleasant Street in New Bedford. The project has received significant support from the Low-Income Energy Affordability Network (LEAN) – a Mass Save® program funded by the Massachusetts Energy Efficiency Program Administrators and administered locally by Action for Boston Community Development (ABCD). The program is designed to improve the energy efficiency of low-income multifamily housing by providing energy retrofits funded by Massachusetts utility companies.
The first phase of upgrades at Melville Towers, completed in 2013, included $750,000 worth of specialty lighting that reduces the property’s electric bill by 17 percent annually. The current HVAC equipment upgrades include a $357,000 high efficiency boiler, which is expected to reduce the property’s energy usage by 40 percent. This dramatic drop in heat load, the amount of heating or cooling a building requires, should lead to significant cost savings for the property. Additionally, Melville Towers has installed a Cogeneration system – an economical heating and power unit – that helps lower the property’s energy consumption through its natural gas-fueled engine.
With more than $12,200,000 in energy conservation funding to date, Peabody Properties has provided major energy upgrades to over 55 of its managed properties. Previous upgrades have included weatherization measures such as air sealing and wall and attic insulation, along with electrical retrofits and Energy Star appliances. Additionally, Peabody Properties is in the process of installing a high efficiency boiler at Roxse Homes in Roxbury as well as lighting and appliance upgrades at multiple properties throughout its portfolio.
According to John Wells, Vice President for Real Estate & Energy Services at ABCD, for more than four years ABCD has been pleased to partner with Peabody Properties, working together toward a shared goal of energy efficiency for their many affordable, multi-family communities. “Cutting energy usage while keeping the residents’ comfort at the forefront is our primary objective, all while realizing significant savings throughout the company’s managed portfolio,” said Wells. “This partnership has demonstrated the power of collaboration that has led to many important and noteworthy projects.”