LED LIGHTING
Case Study
LED LIGHTING PROJECT
52 multi-family and commercial properties updated.
About
Curry Real Estate Services is a full-service commercial real estate broker and property management company serving the Kansas City area that manages, leases, sells and provides consulting services for commercial and multi-family properties. Curry continually evaluates new industry best-practices and technology to support its properties, owners, investors and renters. After assessing initiatives that could bring the most value to clients, it was determined an LED lighting upgrade was the best project to pursue to bring a quick ROI. Curry then presented research results on the benefits of LED lighting and a detailed lighting plan that communicated how the new LED lights would meet our properties’ standards while lowering energy usage and costs. After winning the approval of clients, Curry Real Estate Services went to work to upgrade 52 multi-family and commercial properties that it owns and/or manages with energy efficient LED lighting.
CHALLENGES & SOLUTIONS
- Replacing all interior common space/public lighting and exterior lighting in 52 commercial and multi-family properties posed a challenge due to the scope of the project. With production and installation costs combined, the project was estimated to cost more than $585,000. To deliver a strong return on investment, Curry needed to develop a strategic financing plan to find cost savings yet deliver quality consistent with Curry’s values. Our team’s experience working with local governments and electric utilities allowed us to negotiate tax incentives and rebates that offset project costs more than $273,000.
- Because the buildings were occupied during the LED lighting upgrade, Curry needed to devise a plan to ensure there was no disturbance of the residents and/or commercial property tenants. Curry evaluated areas of the buildings that directly affected residents/tenants and upgraded those areas during off-hours while still keeping all affected informed on progress via in-person contact, calls and emails.
RESULTS
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Due to Curry’s innovative cost management and work to garner electrical utilities rebate, the total project savings was $273,000. Additional savings were found in the lower energy use and exceptionally long life of LED lights which reduces maintenance staff hours as well as the need for replacement bulbs and equipment used to access tall lights on ceilings and in the parking lots.
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When rebates and energy savings are combined, the project returned a positive ROI in under three years.
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Replacing our lighting with LEDs presented aesthetic benefits as well. Curry was able to get rid of the yellow glow from the high-pressure sodium lighting and replace it with a clear and crisp white light. Aesthetic upgrades like these help us to maintain above industry average occupancy rates in both our commercial/multi-family properties.