WASHINGTON, Dec. 2, 2011 /PRNewswire/ -- President Barack Obama held a press conference at 815 Connecticut in Washington, D.C., a Transwestern managed property, to announce nearly $4 billion in combined federal and private sector energy upgrades to buildings over the next two years. These commitments, which are part of the Better Buildings Challenge, are targeted at reducing energy use and promoting energy independence. This announcement builds on 14 private sector commitments announced at the Clinton Global Initiative America in June to make energy upgrades across 300 million square feet, and to invest $500 million in private sector financing in energy efficiency projects.
Prior to the press conference, President Obama and Former President Bill Clinton were greeted at the property by Transwestern president and chief executive officer =Larry.Heard@transwestern.net" target="_blank">Larry P. Heard. "The Better Buildings Challenge is a national energy efficiency leadership initiative to make commercial buildings 20 percent more energy efficient by 2020. Transwestern is proud to be part of this very important program," said Heard. "For us, there's a real 'business case for green': Optimized operations yield heightened financial performance, which enables our clients to maximize their returns. We are pleased to be recognized by the government and administration for our leadership in energy efficiency and sustainability."
For this official launch of the Better Buildings Challenge, the Presidents were led on a tour of 815 Connecticut, NW where they were shown first-hand the energy upgrades made at the project and discussed how such upgrades positively impacted operating costs. The property is a 240,000 square foot office building in downtown Washington D.C., Transwestern, along with development partner, DRI, Inc., is currently working on a significant renovation and modernization project to replace the exterior facade, primary mechanical, ventilation and control systems in order to reduce utility expenses and improve indoor environmental quality. To date, the energy efficiency measures that have been completed are saving almost $200,000 per year, or over $0.99 per square foot.
The Better Buildings Challenge is part of the Better Buildings Initiative launched in February by President Obama, and spearheaded by former President Clinton and the President's Council on Jobs and Competitiveness to support job creation by catalyzing private sector investment in commercial and industrial building energy upgrades to make America's buildings 20 percent more efficient over the next decade, reducing energy costs for American businesses by nearly $40 billion.
Transwestern is advancing its commitment to promoting sustainability and improving building performance by committing 442 office buildings, totaling 78 million square feet of its managed portfolio to the Better Buildings Challenge. Transwestern is executing its goal to reduce energy consumption across this portfolio by more than 20 percent by 2020 by working with building owners to identify and implement innovative, deep energy retrofits to lower operating costs and improve the bottom line through environmentally responsible operating practices.
Transwestern is a national, privately-held operating company specializing in commercial real estate services, investment and development. The firm's fully integrated approach delivers value to owners, investors and users of commercial real estate through innovation, penetrating market intelligence and legendary service delivered by teams of local experts. Transwestern has product specialties in office, industrial, retail, multifamily and healthcare and is an industry leader in sustainability solutions and in market research through its affiliate, Delta Associates.
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