Trane presented the Energy Efficiency Leader Award to Crosstown Concourse on October 9th, 2017. The award recognizes the developers’ outstanding commitment to best practices in energy efficiency and sustainability for the retrofit of a once-vacant 90-year-old former Sears building that is not only revitalizing the community around it, but reducing operational costs.
For Crosstown Concourse, the driving force behind the project was creating a vertical urban village while improving operational sustainability and the financial performance of one of Memphis' most iconic properties. Crosstown Concourse is home to a collective of commercial, residential and retail partners including restaurants, health clinics, a charter high school, a contemporary art center, commercial offices and 265 residences.
“Crosstown Concourse represents the leadership in energy efficiency and sustainability that we recognize annually with the Energy Efficiency Leader Award,” said Felix Wilson, vice president at Trane. “By taking on what seemed to be an impossible task, the development underscores the impact that smart properties have in not only providing long term environmental, financial and facility benefits to those who live and work in the building, but the broader impact on Memphis and their commitment to communities.”
The Crosstown development team, with the support of multiple partners, approached the project with a vision to create opportunities to improve the overall efficiency of the building and the health and well-being of its inhabitants. The project exemplifies commitment to a sustainable future for Memphis.
As a part of the ceremony, the company hosted a round table discussion with a variety of business leaders, all of whom had a hand in the redevelopment of Crosstown Concourse, including Commercial Advisors | Cushman & Wakefield, Crosstown Arts, Kemmons Wilson Companies, Looney Ricks Kiss, and OGCB, Inc.
The panelists discussed the vision for the community redevelopment initiative, the unique challenges of the project and best practices for successfully implementing energy efficiency and sustainability when retrofitting older buildings of this size. The panel was moderated by Michael Jung, president, Commercial Appeal.
In addition to this discussion, Wilson presented the Energy Efficiency Leader Award to the companies mentioned above. Crosstown Concourse was selected as one of just three projects to receive the award in 2017.
"Our collaboration with Trane focused on the best way to revitalize the property, making it energy efficient while enhancing comfort and usability for a diverse group of tenants,” said Dan Chancey, senior vice president, asset management at Commercial Advisors. “Crosstown Concourse is a project we are very proud to be a part of; it exemplifies how partnerships can impact the sustainability efforts of an entire city, in this case Memphis.”
These companies worked together to provide solutions to help the development achieve greater efficiency, showcase sustainability, enhance comfort, improve tenant productivity and increase asset potential through the use of intelligent technology. Trane’s heating, ventilation and air conditioning systems (HVAC) and energy management solutions provide valuable data and insight that can be accessed from the building and used as a catalyst for new levels of efficiency.
By implementing smart design practices and energy efficient systems, these collaborative efforts will save over $1.6 million in operating costs over the next 25 years. There have been realized capital cost savings of over $250,000 – the equivalent to the electricity usage of 67 homes for one year or 432,000 trees being saved.
Publication date: 10/18/2017