ROCKVILLE, Md., Dec. 18, 2013 /PRNewswire/ -- The Tower Companies announces that it has been recognized by the U.S. Department of Energy (DOE) for its commitment to reduce energy by 20% by 2020 for its entire commercial and residential portfolio as part of the Better Buildings Challenge. In addition, the U.S. Department of Energy and the US Department of Housing and Urban Development (HUD) also recognized Tower for becoming an inaugural partner of Better Buildings Challenge Multifamily Partners, the newly announced multifamily housing program expansion.
In his recent Climate Action Plan, President Obama called for leading multifamily housing owners to join the Better Business Challenge. As part of the Better Buildings Challenge, multifamily Partners commit to cutting energy use in their buildings portfolio-wide, by 20 percent within ten years.
These leaders also broadly share successful strategies that maximize energy efficiency in multifamily housing, contributing actual energy data to verify the energy savings of implemented energy upgrades. Through the Better Buildings Challenge expansion, 50 multifamily partners - representing roughly 200,000 units and over 190 million square feet - have committed to cutting their energy use by 20 percent in ten years.
"By committing to energy efficiency goals of the Better Business Challenge, The Tower Companies has taken a significant step towards reducing long term energy costs, supporting innovative technologies, and creating good jobs," said HUD Secretary Shaun Donovan. "Working together, we will increase housing affordability for owners and residents and foster healthier communities and neighborhoods."
"Partners in the Better Buildings Challenge are leading by example, demonstrating their commitment to providing more efficient and comfortable homes for their tenants that save money and energy," said Deputy Secretary of Energy Daniel Poneman. "We applaud these partners for joining in this leadership initiative and we look forward to working with them as they make their communities more energy efficient and foster greater economic growth."
"We are honored that The Tower Companies has been recognized for meeting DOE's energy reduction challenge and has already reduced its energy use by 8%," said Tower's Chief Sustainability Officer David Borchardt. "Thanks to our real-time energy management program and our enthusiastic team, we're already on track to meet the President's goals by 2020," added Tower's Director of Corporate Responsibility, Eugenia Gregorio.
For more information about The Tower Companies DOE Better Business Challenge profile, please visit: http://www4.eere.energy.gov/challenge/energy-performance/tower-companies.
About The Tower Companies
The Tower Companies is an award winning, family-owned real estate development company, founded by Albert Abramson in 1947 and located in Rockville, MD. Tower is a U.S. Environmental Protection Agency ENERGY STAR Leader and Green Power Leader and has developed over 5 million square feet office buildings, office parks, 1,500 apartments, regional malls, residential communities, lifestyle centers, and hotels within the DC area. 90% of their portfolio is LEED certified.
Information on Better Business Challenge
Launched in December 211 by President Obama, the Better Business Initiative takes a broad multi-strategy approach to accelerate energy savings through leadership, innovation, partnerships and demonstrated best practices. The Better Buildings Challenge is the central leadership initiative through which organizations of all types -- local and state governments, schools, business, and manufacturers -- commit to portfolio-wide energy savings goals and to share successful strategies that help achieve these goals and overcome financial and technical barriers in the marketplace. Utilities and financial firms also commit to focus resources on building improvements.
About a quarter of U.S. households live in multifamily housing units and spend about $40 billion on energy costs each year. Making these housing units 20 percent more energy efficient would save more than $7 billion per year and cut greenhouse gas emissions by 430 million tons. As part of the Better Buildings Challenge, DOE and the HUD are partnering with leading private and affordable buildings owners and public housing agencies to cut energy waste and help fails save money.
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SOURCE The Tower Companies