OAK BROOK, Ill., April 13, 2017 /PRNewswire/ -- JVM Realty Corp. (JVM), a leading vertically integrated multifamily real estate investment and property management firm, today announced it saved 8 million gallons of water in 2016 through improved landscape irrigation practices at three of its communities. That's enough water to fill 12 Olympic-size swimming pools.
The irrigation initiative is part of JVM's ongoing effort to reduce its water consumption and energy usage. The company has in recent years installed LED lighting and energy-efficient windows across portions of its portfolio. The LED retrofit at three communities alone has resulted in annual energy savings large enough to power a typical American home for more than 42 years.
"We firmly believe it is our responsibility to do the best we can with the resources we have to operate in a sustainable manner," said Jay Madary, president and CEO of JVM. "Therefore, we have invested significant time and resources into initiatives that benefit the environment, our residents and JVM's investors. We are pleased with our efforts so far, but we also remain committed to exploring new opportunities to decrease our environmental footprint."
The landscape irrigation savings stem from a three-community pilot project JVM conducted last year. At the properties, the company installed water-flow sensors that are connected to the Internet and to water-management software that detects leaks in real time, measures soil moisture and monitors weather to activate the landscape irrigation system only when needed. Banyan Water, which provided the sensors and software, presented JVM with its H2OverAchiever Award for the pilot project.
The results of the project exceeded JVM's expectations, and the company is considering the expansion of the initiative in 2017.
The LED lighting installations began in 2014, when JVM initiated energy conservation assessments in conjunction with any new acquisition or renovation project. Since that time, the company has identified three communities where energy use could be substantially reduced by replacing incandescent or fluorescent lighting with LED bulbs in common areas and/or parking lots. The communities are Butternut Ridge Apartments in North Olmstead, Ohio; Prairie Lakes Apartments in Noblesville, Ind.; and The Sovereign Apartments in Overland Park, Kan.
In all, more than 2,300 bulbs have been replaced, resulting in annual energy savings of over 450,000 kilowatt-hours. That's enough to supply electricity for the typical American home for 42.5 years.
Additionally, in 2016 JVM installed energy-efficient windows at two communities: the aforementioned Butternut Ridge and Hidden Lake Apartments in Stow, Ohio. Overall, more than 3,000 old windows were replaced, leading to an estimated 10 to 15 percent decrease in the average resident utility bill.
"There are few endeavors more important than protecting our environment now and for the future, and we are proud to be a part of the multifamily industry's efforts in sustainability," Madary said.
JVM is a respected name as a leader in multifamily real estate investment and property management. Now in its 41st year, JVM is committed to excellence and integrity and strives to be the preferred choice for its investors, residents and associates. Based in Oak Brook, Ill., it operates a $700 million multifamily portfolio in the greater Midwestern United States, including Illinois, Indiana, Kansas, Missouri, Ohio and Oklahoma. For more information about JVM, visit our website and read our blog.
SOURCE JVM Realty Corp.