LEED Facilitation for Harpeth Square Apartments
Wilmot assured Harpeth Associates saved $2.6 million and achieve LEED Gold while achieving an Energy Star score in the 79th percentile of energy efficient buildings nationwide.
In 2016, the U.S. Department of Housing & Urban Development issued a long-awaited incentive program to encourage developers to incorporate energy efficiency and other sustainable measures into their projects. Harpeth Associates began their first LEED project in an effort to become eligible for a 40-point reduction on their Mortgage Insurance Premium (MIP) and attract tenants interested in a sustainable lifestyle.
Wilmot led the design team and consultants to achieve an estimated Energy Star score (SEDI) in the 79th percentile of energy efficient buildings nationwide. Wilmot facilitated a charrette in which the team chose between multiple green building programs to achieve the MIP savings. While the building upgrades required to achieve this threshold are estimated at $600,000, the long-term savings were estimated at $6M over 40 years. Even considering a discounted estimate, the project translated into a 330% return on investment. LEED Gold was eventually pursued to convey the project’s commitment to sustainability to the community and its expected clientele.
$2.6M in savings
330% return on investment
LEED Gold certification
MIP incentive program savings