Value Companies said it completed Phase 1 of its energy efficiency upgrades at properties in Randolph, Paterson, Passaic Par, and Nutley, equating to over $20,000 in annual energy savings as well significant maintenance and repair savings for nearly 1,000 units in its portfolio.
The upgrades were completed in partnership with Donnelly Energy, utilizing incentives from utility-driven Direct Install programs.
Upgrades in Phase 1 included the replacement of boilers across five properties in Value Companies’ extensive portfolio.
Under various New Jersey utility Direct Install programs, Value Companies is expecting to pay little out-of-pocket costs thanks to available financing options and the extensive savings the new boilers will bring to its properties.
“We are always investing in property improvements that enhance the resident experience and make property operations even more efficient and sustainable,” Jack Linefsky, vice president of property management at Value Companies said. “By working with Donnelly Energy, we were able to maximize the value of the Direct Install Program and work through the process seamlessly. With Donnelly Energy’s help, we will soon begin Phase 2 of energy upgrades at Gateways at Randolph and other communities within our portfolio.”
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Under Phase 2, set to begin soon, Value Companies will replace boilers at multifamily communities located in Saddle Brook, North Arlington and Randolph. Once Phase 2 of the project is complete, over 2,000 total units in the Value Companies portfolio will see increased energy efficiency.
Justin Avallone, President of Donnelly Energy said, “Teaming up with Value Companies for Gateways at Randolph and Value’s other communities has been a big win for Donnelly Energy. We’ve built a solid partnership with these projects, expanding it into a multi-phase endeavor that keeps getting refined with every installation we complete. It’s great when you can connect with a client that has a shared philosophy of customer service and sustainability.”
