Multifamily asset management firm creates significant sustainability impact through a centralized approach to portfolio-wide energy and ESG management.
The Company: Sustainability as a Cornerstone
Formed in 2013, LivCor has emerged as a leading multifamily asset management company that believes its success comes from building and maintaining strong relationships with over 250,000 residents nationwide. Headquartered in Chicago, LivCor is a trailblazer in environmental sustainability. With energy efficiency and renewable energy considerations integrated into every decision made at every property, LivCor is dedicated to creating sustainable, inclusive, healthy communities. LivCor’s leadership prides itself in recognizing that being resource-conscious not only helps the company serve as a better environmental steward, but also improves the daily quality of life for residents. In the form of cleaner water, less pollution, and lower utility bills, LivCor is making a positive impact on the communities and residents they serve.
The Challenge: Shifting Towards a Centralized Approach
By the end of 2021, LivCor will have converted nearly 100% of its common area lighting to LED options. The LivCor team first considered setting LED as a standard in 2019, but the outcome alone seemed difficult to reach. With their current efforts in line to tackle this standard, LivCor was spending too much precious time they couldn’t afford to lose. The team recognized they needed to take action moving towards an enhanced, centralized approach to reach their sustainability goals.
The Solution: Consultative Guidance and Seamless Implementation
The SitelogIQ team presented a high-impact model that focused on creating a standardized LED lighting program to reach LivCor’s sustainability goals. With extensive expertise, SitelogIQ quickly met LivCor’s specificity in needing to centralize programs and rapidly execute portfolio-wide on a national scale. LivCor could now focus on its core mission of building incredible communities for thousands of residents and families across the country.
Reduced Operating Costs: Lowered the prices of utilities for residents and met demands for cost savings.
Gained Portfolio Visibility: A centralized approach to energy efficiency gave LivCor insights into the status, performance, and opportunities in their portfolio to standardize their LED lighting program.
Streamlined Project Control: Consistent processes and an experienced partner to supplement the bandwidth accelerated project operations to give LivCor tight control over the specific outcomes.
Improved Investor Trust: A complete view of all energy efficiency initiatives with the data to support proposed projects inspired more trust from LivCor’s stakeholders.