{"id":1004661202,"date":"2023-05-05T10:14:38","date_gmt":"2023-05-05T18:14:38","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004661202"},"modified":"2023-05-08T03:13:22","modified_gmt":"2023-05-08T11:13:22","slug":"boma-new-york-the-impact-of-local-law-97","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/boma-new-york-the-impact-of-local-law-97\/","title":{"rendered":"BOMA New York & the Impact of Local Law 97"},"content":{"rendered":"
\"\"

BOMA NY Energy Action Day: Alex Gulagaci, Lauren Moss, Christopher Cayten, Patrick Dolan, Michael Daschle and Lori Raphael. Image courtesy of BOMA NY<\/em><\/p><\/div>\n

Following its yearly participation with Earth Day, the Building Owners & Managers Association of Greater New York<\/strong> hosted its annual event, Energy Action Day.<\/p>\n

The panel, which featured Lauren Moss, chief sustainability officer at Vornado Realty Trust<\/strong>, Michael Daschle, senior vice president of sustainability at Brookfield Properties<\/strong>, and Alex Gulagaci, head of engineering at RXR, <\/strong>discussed the impact of Local Law 97. The panel was moderated by Christopher Cayten, managing director, CodeGreen Solutions<\/strong>.<\/p>\n

Local Law 97 is being embraced by owners and tenants alike as a benefit\u2014both to tenants\u2019 health and well-being, and to property values. It mandates that most buildings over 25,000 square feet will be required to meet new energy efficiency and greenhouse gas emissions limits by 2024, with stricter limits coming into effect in 2030.<\/p>\n

\u201cEfficiency is now a core tenet of operating a commercial building, and it\u2019s creating more valuable assets,\u201d said Cayten. Gulagaci reinforced this point, stating that the industry had \u201cevolved substantially\u201d toward energy output efficiency during the past 18 months alone.<\/p>\n

Moss noted Vornado\u2019s commitment to carbon neutrality goals, citing the firm\u2019s ambitious plans for the development of its PENN 1 and PENN 2 projects, slated for \u201ccarbon neutral delivery,\u201d and an additional 70,000 square feet of tenant outdoor space. Daschle added that energy planning actions demands creativity among all stakeholders who were formerly \u201csiloed\u201d by their own agendas. Now, he said, \u201cThe effort has become how to market a lower cost solution, and marketing a property as energy efficient.\u201d The challenge is \u201cEducating all these groups and translating a project into a value proposition to each stakeholder.\u201d<\/p>\n

According to Moss, Vornado\u2019s energy actions start with engaging tenants on energy usage at the earliest opportunity\u2014and vice versa. \u201cWe\u2019re seeing prospective tenants\u2019 detailed RFPs, asking us what our energy goals are in order for them to evaluate our organization.\u201d Gulagaci said, \u201cAt RXR, we have a scaled department solely dedicated to the actual tenant experience,\u201d a collaborative dialog that creates \u201ca drive to quality within the property.\u201d<\/p>\n

Cayten also asked the panelists about today\u2019s evident nexus of \u201cwellness being rolled into sustainability.\u201d Gulagaci cited the example of the COVID-19 pandemic\u2019s influence on tenant wellness and its inverse effect on energy usage. \u201cThe last two years of Covid shifted the dialog quite a bit with the focus to improve air quality with increased ventilation. This tends to have an adverse effect on energy efficiency since you\u2019re utilizing more energy running infrastructure such as fans; but there is a sweet spot in this relationship.\u201d<\/p>\n

When asked about \u201cprojects you\u2019re excited about,\u201d Daschle cited Brookfield\u2019s decarbonization of its property at 660 Fifth Avenue, an office tower that is being completely redeveloped by the firm. From the start he said, \u201cit is 40 percent more energy efficient.\u201d Gulagaci said that RXR is working on a pilot to implement augmented reality operations training, featuring digital goggles that allow trainees to simulate working on actual machinery.<\/p>\n

The panel concluded with a discussion of a hot topic\u2014electrification. Cayten said, \u201cIndian Point provided 20 percent of New York City\u2019s energy load. When it went offline, (that portion) of energy became 30 percent \u2018dirtier.\u2019 Local Law 97 was written) to push people toward electrification. Your utility bill may be three times higher than what it is today.\u201d<\/p>\n

Not only had the shutdown of Indian Point altered the energy efficiency landscape, Gulagaci added that the trend toward electrification raised concerns about the reliability of the distribution grid itself. He said, \u201cThe grid tends to be stressed during the summer months, and with increased electrification affecting our heating loads, this would potentially affect the winter months too.\u201d<\/p>\n

In his keynote address, Sen. Parker alluded to the panel\u2019s electrification concerns. Speaking live on camera from Albany during the state\u2019s budget negotiations, he confirmed reports that a new state law will ban natural gas hookups beginning in 2026 for most new buildings under seven stories and in 2029 for taller buildings.<\/p>\n

Sen. Parker added that there was \u201ca lot of work ahead of us,\u201d but \u201call of us are working together\u201d on the electrification of public and private development projects. \u201cGas isn\u2019t the bad guy,\u201d he said. \u201cIt\u2019s reducing the carbon emissions from gas and methane. It\u2019s a global challenge.\u201d<\/p>\n

Asked by an audience member whether the solution could be a drive toward the development of nuclear power plants in the state, the senator replied, \u201cAt present we have no offers for siting these plants.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

At a recent conference, experts discussed the impact of Local Law 97 and next steps in sustainability.<\/p>\n","protected":false},"author":3241,"featured_media":1004661203,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,21786],"tags":[35033,33497,34489,33030],"class_list":["post-1004661202","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-sustainability","tag-boma","tag-brookfield-properties","tag-rxr-realty","tag-vornado-realty-trust"],"acf":[],"yoast_head":"\nBOMA New York & the Impact of Local Law 97 - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/boma-new-york-the-impact-of-local-law-97\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BOMA New York & the Impact of Local Law 97\" \/>\n<meta property=\"og:description\" content=\"At a recent conference, experts discussed the impact of Local Law 97 and next steps in sustainability.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/boma-new-york-the-impact-of-local-law-97\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-05T18:14:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-08T11:13:22+00:00\" \/>\n<meta name=\"author\" content=\"BOMA\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/BOMA-NY-Energay-Action-Day.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/boma-new-york-the-impact-of-local-law-97\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/boma-new-york-the-impact-of-local-law-97\/\",\"name\":\"BOMA New York & the Impact of Local Law 97 - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/boma-new-york-the-impact-of-local-law-97\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/boma-new-york-the-impact-of-local-law-97\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/BOMA-NY-Energay-Action-Day.jpg\",\"datePublished\":\"2023-05-05T18:14:38+00:00\",\"dateModified\":\"2023-05-08T11:13:22+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/dd959749f01c897bbff731c889795a81\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/boma-new-york-the-impact-of-local-law-97\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/boma-new-york-the-impact-of-local-law-97\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/boma-new-york-the-impact-of-local-law-97\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/BOMA-NY-Energay-Action-Day.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/BOMA-NY-Energay-Action-Day.jpg\",\"width\":4032,\"height\":3024,\"caption\":\"BOMA NY Energy Action Day: Alex Gulagaci, Lauren Moss, Christopher Cayten, Patrick Dolan, Michael Daschle and Lori Raphael. 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