We believe high-performance buildings are beneficial for the environment and create real financial value. By pursuing these types of assets, we attract and retain the best tenants in highly competitive markets. Here are a few ways we continue to maximize value:
Parkway adheres to a multi-year strategy to lower operating expenses and increase asset value by completing major energy and water efficiency projects while pursuing LEED certifications.
The success of our sustainability program is measured by progress over a 10-year period, from 2015–2025. We are currently on target to meet or exceed the following performance goals for our Houston assets:
Reduce water use intensity by 30%
Over the past several years, we have upgraded the original domestic water fixtures at all of our buildings with low-flow valves and aerators. As a next step, we have started evaluating opportunities to improve irrigation water efficiency across our Houston portfolio.
Decrease energy use intensity by 20%
Through our short-term and long-term capital plans, we have funded numerous multi-year projects to upgrade major HVAC equipment and overhaul aging central plants across our portfolio. In addition, we have completed major garage and common-area lighting retrofits and installed CO2 sensors and dimmable stairwell lighting at many of our properties.
Decrease carbon emissions by 20%
Our efforts to reduce greenhouse gas emissions (as measured in MTCO2e) go hand-in-hand with our efforts to reduce energy consumption; However, we take extra steps to reduce our GHG emissions by upgrading to environmentally preferable refrigerants whenever we upgrade our buildings’ HVAC systems.
Reduce sources of waste and increase waste diversion rates to 75%
Our properties have had recycling programs in place for many years. In 2017, however, we started a major push to further improve our recycling programs and optimize our overall waste management process. To that end, we have replaced antiquated trash bins with modern trash compactors, expanded our use of cardboard balers, and worked with existing janitorial teams to improve the daily waste collection and recycling processes at each property.