No-cost energy retrofits now exceeds $16.5 million; Anna Bissonnette House in the South End a standout success
Boston and Braintree, MA (April 22, 2019) – Peabody Properties, a full-service real estate and property management firm, will celebrate Earth Day today with a milestone achievement: no-cost energy upgrades throughout their managed portfolio, which now exceed $16.5 million. These upgrades include high efficiency lighting, refrigerators, and boilers, as well as water upgrades and no-cost weatherization.
One highlight in particular among Peabody’s efforts is the Anna Bissonnette House, owned by the non-profit organization Hearth Inc. The Anna Bissonnette House opened at the intersection of Washington and East Concord Streets in Boston’s South End in 1997 to provide permanent supportive housing to low income and formerly homeless elders. In January 2017, Peabody Properties recommended to Hearth to move forward in retrofitting the property with .8 gpf toilets (which replaced very old, and sometimes original equipment), as well as updating all shower heads and aerators to low-flow devices. The initial cost for this effort was $22,500, and by June 2018 the project had already paid for itself in savings. Additionally, these efforts have resulted in 969,000 gallons of water saved annually.
As a result of this success, Hearth was motivated to retrofit four other properties, which has resulted in savings between 23% and 40% in the first year.
“We were told the payback would be quick, but we did not anticipate the immediate and significant savings these toilet upgrades have provided to our portfolio of low-income properties,” confirmed Bill Porcello, CFO of Hearth, Inc. “We’ve been so happy with the results and the impact it’s had to the financial well-being of these properties. We appreciate any opportunity to discuss our experience in hopes that others will prioritize water conservation,” he added.
Additionally, Peabody Properties continues to look at opportunities for savings and energy conservation as a result of lighting, refrigeration, boiler, water, and weatherization retrofits, including those through utility-funded programs. The realized savings are being reinvested and passed on to residents; just in the last two months, Peabody has added to their total of no-cost energy retrofits by about $700,000.
“We are excited to take a moment, especially around Earth Day, and highlight our continued commitment to sustainability initiatives,” said Scott F. Ployer, vice president of facilities and capital planning for Peabody Properties, Inc. “The success we have seen continues to breed more success, which results in everyone benefiting from the outcomes. We look forward to continuing to pursue these relationships and efforts.”